Bulb "collapse" imminent?

Now the recent hike in direct debit makes sense. With news that bulb are in imminent danger of collapse, what now?

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Whilst this is quite sad news to read, I’m sure we will find more news shortly. This affects more than us as customers and I wish the staff all the luck as this would obviously mean quite a lot of redundancies :frowning:

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Much as some of Bulb’s recent management/payment decisions have irked me, my thoughts go to the staff, especially those who are having to deal with customer complaints against the background (or for them the foreground) of job losses.

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Absolutely, my thoughts are always with the workers. Unfortunately this is becoming an all to common issue in a very broken Britain.

My Account £90 in credit and a large DD increase attempt last month, using thier customers as interest free & unlicensed creditors…of course its all for my own good, because I cant possibly manage my own finances nor understand that my energy fuel useage is linked to seasonal outside air temperature, …little wonder they are on the brink…

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I hear you.
Only joined in March payment £82… I tried to change my monthly payment via the app. Wouldn’t let me.
Left it as my partner suggested we must be using more?
Now they wasn’t over £200 month ffs. I’ve only just managed to change that after trying every month on app
But only to their minimum amount £180.99 grrr
I will take Martin Lewis’ advise and sit tight and wait until OFGEM advise

What an arse eh?

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Also, they said Martin Lewis. Take regular meter readings from your meters NOT the smart meter.

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I’ve £395 in credit since they hiked my monthly payment I wonder if I lose that if they go bust I can’t get hold of anyone :exploding_head::exploding_head::exploding_head:

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NO, your credit is protected by the OFGEM guarantee

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Yes just heard about Bulb what happens now, please do we have a choice about where we can move our accounts?

First of all thoughts and good wishes with all Bulb staff who have always been very courteous to me on the occasion I have needed to contact them.

I am very concerned what happens to those of us on prepayment meters? If Bulb collapses how will we be able to top up? Will we still be able to use the app? I don’t have any cards/keys to use as my meters don’t have the slots for them and I’m not in a position to be able to add a lot of credit in advance.

I’d be very grateful if someone might be able to advise please. Thank you.

I took the stupid decision to switch to bulb this week as I had just been switched to Octopus from Avro. The bulb help keeps telling me I can cancel the switch within 14 days and I can do so with the app - but the app is awful and keeps taking me into an infinite loop that only seems to end up here. It looks like the switch might not happen but I’d like to avoid the pain - anyone know how to cancel as I suspect I’ve no hope of getting hold of anyone from bulb next week.

Just picked this up, has it actually happened. still seems like they are holding on quite from news reports that officials and regulators are on standby for Bulb to announce it will cease trading as early as next week.

The government said the energy regulator was monitoring the situation.

It would be the latest in a string of providers to collapse.

There were reports that Bulb was near to collapse last month as it emerged the firm was but now understands hopes of a rescue deal could be fading.

One company which was considering a takeover of Bulb has reportedly says the firm has liabilities of around £600m, which made a “solvent takeover of the company hard to envisage”.

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Just as a side not, bulb is expected to announce early next week.

my best wishes to all the staff, this happening before Christmas must be affecting all the staff at bulb & I wish you all the best and hope your jobs are saved somehow.

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Hi Sarah I’ve looked on the ofgem website and it states if you have a prepayment metre you just keep topping up as normal. It shouldn’t affect your supply.

Cancel your direct debit…god knows if we will see the money we have as credits on our accounts.

Your credit is Government protected and will transfer with you if the worst happens. Cancelling your direct debit will affect your credit rating and make you really appealing to another supplier.
IF Bulb goes down - which is not yet certain - my thoughts are with the staff. It’s always nasty to lose your job through no fault of your own, but just before Christmas… Even the threat of it must have put their stress levels up through the roof.

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Also download some of your bills, and take a photo of your meter readings gas and elec.

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You won’t use your money, its protected under Ofgem, google it.
Sit tight, I do hope they find a solution for Bulb as I’ve really liked being with them. Put regular monthly meter readings in.

Knowing our money is safe, if we do cancel DDs we can stupidly force the company bankrupt and harm all the staff.
DO NOT FORCE BULB TO COLLAPSE.

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