Why do I pay in advance.
Everyone with Bulb pays in advance, it’s just how they do things.
Your first monthly payment will be taken when your switch completes. Upfront payments let us be smarter when buying energy, so we can pass more savings onto you.
The more credit Bulb can have in people’s accounts, the more money they have to play with. More money means they can buy more energy in advance when the price is good, rather than having to buy with shorter notice when the price of energy might be more.
The big energy companies already have massive bank accounts and only small variations in member numbers so can cope more easily with buying energy before the customer pays for it.
At Bulb, we take a fixed payment in advance for the month ahead. So the first payment is taken on the day you switch. At the end of the month, we send a statement summarising your usage based on meter readings, the cost of the energy you used, and the balance on the account. We do this as it allows us to be more effective when buying our energy, saving you and all our other members money.
We try to explain this during the switching process and in your Welcome Pack, but we understand that this is a slight change to what you’re used to and we’re working on explaining these things better.
Hi, Just signed up with Bulb. Roughly how much is taken for the first bill?
Hi @Jos, it depends on your estimated use.
If you check your payment details page, you can see exactly how much will be taken there.