New member with FIT — Bulb Community

New member with FIT

I've just submitted my first meter readings and everything seems to be going well. I was receiving FIT payments from my previous supplier and I've heard nothing from Bulb about this aspect of their contract. How will this transfer be handled?

Comments

  • The transfer of your FIT is unrelated to your normal supply of energy. Nothing will happen with that unless you make a separate application to transfer your FIT once your switch has completed. As I understand it, there is no benefit to switching your FIT between suppliers and so there's no reason not to just leave that where it is, unless you really want to move it.

    Click "Help" at the top and search for "FIT" if you want more info on signing up your FIT.
  • That makes sense. I didn't think that one through properly! Thanks Hooloovoo.
  • Hooloovoo said:

    As I understand it, there is no benefit to switching your FIT between suppliers and so there's no reason not to just leave that where it is, unless you really want to move it.

    Although there is no benefit financially (the FIT rate allocated is preset and does not differ by suppllier) However it may be more beneficial in a convenience factor. Once the FIT is enrolled onto bulbs systems it appears on your bulb dashboard from where you can submit readings (quarterly - a reminder also appears when relevant) and you can build up a record of the quarterly FIT statements.

    Another cool feature is the ability to elect for the FIT payment to go straight into your Bulb account thereby directly offsetting your other energy costs.

    It all really depends on how your current FIT supplier operates as to if you really need to change.

    My previous FIT supplier was an awkward difficult to use online meter reading submission point only, no reminder facility and with a poor quality vague paper statement issued some time later. Very cumbersome and crude.

    I've just had my first quarterly FIT payment through bulb, the only issue I have is there is a few weeks delay if you submit on the first day of the submission window until the statement is generated and the payment arrives in your account.

    My meagre payment (as expected) for this winter quarter appeared in my account and the statement issued is of high quality presentation in .pdf in a style similar to the energy statements.

    During Summer / Autumn, the FIT payments should generate a credit in my account to build up a much larger winter buffer, then early next year I can hopefully reduce my regular monthly payments from current level.

    Receiving odd sized quarterly payments the previous year direct into normal bank account was difficult to budget for, going direct into bulb account makes future budgeting far simpler (just need to ignore the excess credit that will hopefully appear in the bulb account as it drops in to be used up at winter)

    @Eleanor at Bulb I think at some point in the past you asked for feedback on the FIT process but I have been unable to locate that thread. A minor point for improvement : I would suggest some feedback should be provided upon the bulb dashboard once a FIT reading has been provided as to when to expect a statement to be generated (I think there is a 3 week submission window rather than the 2 day window of the energy meter readings).

    Overall I thoroughly recommend a switch of FIT supplier to bulb for pure convenience etc.
  • Thanks for sharing your thoughts @Phillip_PAL

    I have passed this over to the FIT team. Yes, it is generally three weeks but if we can find a way to build that into the dashboard, it would be useful.

    Hopefully, this will help @BobPierce decide if he wants to bring his FIT payments over to Bulb. If you do, you can sign up to using the FIT sign up form.

  • [UPDATE]

    Message from the FIT product manager @Deborah at Bulb

    "Thanks so much the for feedback, you made our FIT team’s day. We’re always looking for ways to make our product better. We’ll be doing more work on statements at the end of March, we’ll look at all the feedback then and try and build as much of it as possible!"

    Please keep the feedback coming.
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