I honestly thought Bulb was different to the Big 6, where my experience of NPower and ScottishPower, was that they were completely incompetent at forecasting monthly payments on the basis of historical usage.
Alas Bulb has demonstrated themselves to be no different. For 9 months I have religiously submitted meter readings on time, and each time I have received the satisfying confirmation that my account is fine and everything is on track. What a warm comfortable feeling that gave me.
In fact, I was looking forward to an eventual decrease in my monthly bill as for the first 2 months of the year I was daily using about 22kwh of electricity to charge my EV. But from the end of February, I moved to home working and the car is being charged much less frequently.
I’d heard that Bulb were bucking the current trend by actually increasing their prices, and so I was not surprised to receive the email notifying me of the price increase. For me this was an additional £22.12 a month; a 7% increase in my current monthly payment. Imagine my surprise when I read further down the email to find I hadn’t been paying enough each month and in addition to the £22.12 increase, they were going to slap me with an additional £55.46 ‘to stop me going further into debt’ (I’m currently £18 in debt).
It makes you wonder how this is possible. My electricity consumption, when I joined Bulb, was 30,000kwh a year. Sounds a lot, I know, but this covered main property useage, an adjacent rental property on shared supply and daily charging of EV. The rental property ceased being let in April and the EV charging is greatly diminshed. My own spreadsheet tracker show’s my forecast annual useage, using the previous 9 months data, is on target for 22,000kwh.
So I’ve reduced my annual consumption by 8,000kwh and then received a 17% monthly increase to stop me going further into debt. At the same time being reassured each month that I’m on target. The only conclusion you can reach is that Bulb undersold the monthly price at the start to win the custom.