So, Bulb tells me that I have used £56 worth of gas and electricity, that I am in credit by £17, then bills me £74. How and why?!
Hi @brian9736 - thanks for posting!
It’s helpful to distinguish between payments and billing. Here’s how it works:
At Bulb, we take a fixed payment in advance for the month ahead. In your case, £74. 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.
Regardless of whether you’re in credit or debit, we’ll still take the £74. We won’t change this amount unless you ask us to or change it yourself in your online account.
This is because we all use different amounts of energy each month. So it’s like that the bill we send at the end of each month may be more or less than £74. In which case, your account is left in credit or debit, depending on how much you’ve used.
So the payment amount is designed to let you build up a credit in the warmer months (when we all use less energy) to be used up in the colder months (so you don’t go into debit).
The important thing is you can change your payment amount whenever you like if you want to pay less or more.
Hope that helps
Thanks, that’s really helpful for me too. Just wondering, if we use more energy than expected, when/how will the debit be paid?
It’s completely up to you, @lorna9375.
If we spot that you’ve built up a debit after 6 months we’ll get in touch recommending you increase your payments to work it off. Before then, if you notice you have a debit at any time you can make a top-up payment or increase your monthly payment amount in your online account.
Give us a shout if you think of anything else!
Cool, thanks for your help!