Massive price increases - not being honest — Bulb Community

Massive price increases - not being honest

1) On the 12th September you notified increases to my energy costs due to wholesale hikes of 18% BUT the gas unit cost is going up 33% (3.94p from 2.96p). Why are the numbers you reference not a reflection of what actually hits us?
2) On the 12th Sept our dual fuel monthly amount was to increase by £47 but on the 12th Oct this was £75. What is going on?
3) From this time last year the gas unit rate has increased from 2.50p to 3.94p - this is a MASSIVE 58% rise - there appears to be a blatant ducking of the severity and impact on people and informing them so they can plan accordingly.
4) I have been asked to increase my payments before my payment date of the 24th Oct but this is in contradiction of the email you sent on the 12th Sept announcing this would happen on the 11th November. Why the inconsistency with the dates?

Thanks

Comments

  • edited October 2018
    @Theaddamsfamily

    My observations purely as another Bulb customer.

    My gas increase as from 11 November was also more than the 18%.

    There have been various discussions on this forum and also on TrustPilot and this is a reason given by James from Bulb:

    ""In previous price increases we kept the price of our gas tariff lower in some regions to limit the impact for members hoping that costs would decrease. But unfortunately wholesale costs have continued increasing so we aren't able to hold them back any more. This is why your price increase may be higher than the average.".

    I am unable to offer more regarding this comment.

    However when the price increase was announced in September Bulb were quite honest and upfront when they gave existing customers 60 days advance notice of the price increase and clearly explained in their notification if you were unhappy you could switch to another supplier without penalty.

    As far as the monthly direct debit is concerned you have a certain amount of flexabilty in setting the monthly amount (this wasn't so with my two previous suppliers who were two of the big six) , you can do this via your account dashboard.

    Bulb uses an estimate of your future 12 months energy usage together with the new unit rates to arrive at an estimated annual cost which if divided by 12 gives you the proposed monthly direct debit. Bulb obviously don't have a crystal ball to know your actual usage for the next 12 months. I assume Bulb must have updated your estimated usage to account for them giving your varying suggestions on your direct debit payments.

    You can if you wish ignore the suggested monthly amounts suggested by Bulb and do your own calculations if you know your actual energy usage (in kWh) for the previous 12 months. You enter this information into the Bulb quote page which will then give you the monthly direct debit to cover the next 12 months.

    I use a similar approach in setting my own monthly direct debit but use a spreadsheet to work out the details. Any calculations I use take into account any credit in my account.











  • I’ve just had an email telling me I’m in credit by almost £100 then in the next breath they want to up my monthly payment from £72 to £140 !!! WTH
  • It could be to cover your payments for the forthcoming possible increase in winter energy use.

    I would suggest you adopt a pragmatic approach to arrive at a monthly payment.

    1. Have a look in your "Account & tariff info" page you will see your "Estimated Annual Cost"

    2. From the "Estimated Annual Cost" subtract your credit of £100

    3. Divide the answer by 12 to arrive at estimated monthly cost

    4 Set your direct debit to that amount
  • @Theaddamsfamily Gas prices have increased by more than electricity. So they do balance out to 18% for your usage.

    Here is how gas prices have changed over the last two years: https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=142526&span=3 Prices have decreased recently and we would be able to pass these savings back to you when it equates to a £20 drop in energy costs. We unfortunately, have to pass these increases on at some point and do try to hold off for as long as possible.

    With regards to 2) I cannot see this change on your account, where is this information from?
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