Energy prices to rise for millions as Ofgem increases cap — Bulb Community

Energy prices to rise for millions as Ofgem increases cap

edited February 7 in About Bulb
More than half of British households are set to see an increase in the cost of energy in April after the regulator, Ofgem, raised price caps. So lets see if we get hit yet again.
https://bbc.co.uk/news/business-47133564

Comments

  • Remember it's a cap not a target. The big 6 were angry at bulb by making annual costs on average £140 below the cap. The cap reflects wholesale prices which if they are going the way they are our prices are likely to come down.
  • Bulb base their prices off the wholesale price, not the cap.

    We won't see any price rise based on this change.
  • mowcius said:

    Bulb base their prices off the wholesale price, not the cap.

    We won't see any price rise based on this change.

    I was concern with this, and thinking of changing to fixed rate with a different supplier? No change, did anyone tell you that from Bulb
  • Yes listen to this.

    "Radio 4's "You and Yours" visit Bulb's offices - https://www.bbc.co.uk/sounds/play/m0002cfs
    Just over 6 minutes - starting from just before 18 minutes in. "
  • scudo said:

    Yes listen to this.

    "Radio 4's "You and Yours" visit Bulb's offices - https://www.bbc.co.uk/sounds/play/m0002cfs
    Just over 6 minutes - starting from just before 18 minutes in. "

    Thank you for the information, but I decided to fix for 14 months, which cost £5 more. Better to be safe than sorry. I miss the last fix and that cost me £160
  • @Maxi, I look forward to seeing you back here later. :grin:
    Remember that Bulb pay termination fees so you can rejoin us bulberinos sooner than 14 months if you like!

    Out of interest, who did you decide to fix with?
  • mowcius said:

    @Maxi, I look forward to seeing you back here later. :grin:
    Remember that Bulb pay termination fees so you can rejoin us bulberinos sooner than 14 months if you like!

    Out of interest, who did you decide to fix with?

    oh really, i didnt know that. scottish power, based on the unit and standing charge, it work out £5 more, but it is assurance. it was not direct, so lots cheaper.
    also happy to come back if it is cheaper after 14 months
  • Maxi said:

    oh really, i didnt know that. scottish power, based on the unit and standing charge, it work out £5 more, but it is assurance. it was not direct, so lots cheaper.
    also happy to come back if it is cheaper after 14 months

    Oooh, I'll also wait to hear about your experiences with Scottish Power.
    I was with them some time ago and I'm not the only one with horror stories to tell!
  • Maxi said:

    scottish power

    Good luck with that =)
    mowcius said:

    I was with them some time ago and I'm not the only one with horror stories to tell!

    I never actually had any real problems with them, but as you say their community forums are full of people with huge ongoing problems. It's bad enough here, but over there it's a different world. The biggest problem I had is that they could never read my smart meter properly, and they installed it! So far Bulb have done a much better job of reading my SMETS1 meter even with the difficulties involved in switching suppliers.
  • mowcius said:

    Maxi said:

    oh really, i didnt know that. scottish power, based on the unit and standing charge, it work out £5 more, but it is assurance. it was not direct, so lots cheaper.
    also happy to come back if it is cheaper after 14 months

    Oooh, I'll also wait to hear about your experiences with Scottish Power.
    I was with them some time ago and I'm not the only one with horror stories to tell!
    To be honest, I used many before, I just go for the cheapest. I give my own reading. I had a smart meter, but I happy to check my meter and submit. I hardly phone them. I check the bill with my calculation on excel, so it is all cool. Even with SSE, when they took the wrong meter on overtaking the service, they correct it. It was an overcharge of £130 or so.
    What I do not like is joining a cheap supplier and one month later, the price went up, and it happened here, which is defeats the idea of energy comparison.
  • I think the annoying thing, is there is a price change, and they use an estimate, and then i update it following month and it is higher, so a lower estimate were used on low unit price.
    I think for better greener use, is best to change house lighting to led. Initial capital cost is high but it will quickly pay off. eg 100w light bulb compare to 2 led 4w. as led is very cheap compare to 8 years ago. Also save the planet.
  • Maxi said:

    To be honest, I used many before, I just go for the cheapest. I give my own reading. I had a smart meter, but I happy to check my meter and submit. I hardly phone them. I check the bill with my calculation on excel, so it is all cool. Even with SSE, when they took the wrong meter on overtaking the service, they correct it. It was an overcharge of £130 or so.

    That's all very well, but assumes competence in correcting a mistake without making another mistake in the process. Everything is fine when it goes right, but lots of people have had ongoing problems that Scottish Power seem to be simply incapable of correcting.
    Maxi said:

    What I do not like is joining a cheap supplier and one month later, the price went up, and it happened here, which is defeats the idea of energy comparison.

    Understandable, but the fact that the tariff is variable is something you know in advance prior to starting a switch. Why would you switch to a tariff which has terms that you don't like?
    Maxi said:

    I think the annoying thing, is there is a price change, and they use an estimate, and then i update it following month and it is higher, so a lower estimate were used on low unit price.

    Agreed. That's why it's always best to ensure a meter reading is provided on the date of any price change. It's a very simple way of ensuring accurate bills, and is what I've always done previously. In fact, at some point over the past many years I may have purely accidentally put in a reading that is too high on the date of an increasing price ...
  • edited February 10
    Maxi said:

    I think for better greener use, is best to change house lighting to led. Initial capital cost is high but it will quickly pay off. eg 100w light bulb compare to 2 led 4w. as led is very cheap compare to 8 years ago. Also save the planet.

    I've been all LED for around 8 years now. Not sure how some people still use incandescents.
    They weren't exactly expensive back then either.

    In that time, I've had zero failures (Mixture of Philips and Integral lamps primarily).
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