Energy price watch: we’re lowering our gas prices

We’re lowering our gas rates, saving the average Bulb member £20.

Wholesale gas costs have dropped by 12% since December. Milder weather has meant gas storage has remained at healthy levels. As a result, wholesale costs have fallen and we’re able to pass on the savings to our members.

Electricity wholesale costs have also decreased by 12%. However, network policy costs have increased. This means that despite the fall in wholesale electricity costs, we’re unable to reduce our electricity unit rates.

Some members don’t have gas in their homes. These members won’t have any changes to their annual bills this time around.

And members living in North Wales and Manchester will also not have a price drop. This is because the cost of supplying gas through the grid in these areas has significantly increased.

To read more about how this will affect your bill, head to the energy price watch blog.

We’ve also made some amendments to our wholesale energy graphs.

@mowcius and @Scamwell noticed that in our December price watch blog, the wholesale energy graph didn’t look quite right.

Thanks for pointing it out. The aim of writing a blog updating you on the wholesale markets is to be transparent. Getting the right data and displaying it well is an important part of communicating transparently. So we’ll update the December version and have made sure that the most recent one is clearer. Sorry for any previous confusion.

We’d love to hear your thoughts or questions you have. Post below and we’ll do our very best to answer.

Ooooh, I like a good price decrease :slight_smile:

Has this taken effect as of this morning? I see no change to the rates in my account yet but a new quote does show the new gas rate.

Ooooh, I like a good price decrease :)

Has this taken effect as of this morning? I see no change to the rates in my account yet but a new quote does show the new gas rate.

It is very good news.

On good authority the price reduction will automatically take place on 21 March.

@Allanr, hmm, so new customers are getting a better rate than me now?

That doesn’t seem very fair.

@Allanr, hmm, so new customers are getting a better rate than me now?

That doesn’t seem very fair.

Seems totally fair to me.

If a new customer decided to join Bulb today, when will their switch actually take place. Answer 21 March.

A new customer who joined prior today will also have to wait until 21 March.

@Allanr, that makes complete sense.

Could we have public confirmation @“Eleanor at Bulb”?

It seems odd that this hasn’t been included in the blog as it’s something that has been made clear with other price changes.

@Allanr, that makes complete sense.

Could we have public confirmation @“Eleanor at Bulb”?

It seems odd that this hasn’t been included in the blog as it’s something that has been made clear with other price changes.

I got the date of 21 March from the Blog.

Hi @mowcius

The price drop will come into effect from March 21st.

No member, whether you’ve been with Bulb since 2016 or switched last week will have a change in their unit rate until March 21st.

@“Eleanor at Bulb”, any chance that could be made clear in the original post?

I got the date of 21 March from the Blog.
Am I completely blind? I don't see it.

EDIT: Scrap that - apparently I was completely blind for a while. I see it now.

EDIT: Scrap that - apparently I was completely blind for a while. I see it now.

I was teasing a little when I said I had it on good authority the date for the price reduction. I was thinking that someone would ask what authority.

Yes @mowcius , we can make it clearer. Do you still think it needs changing now you’ve found it?

Yes @mowcius , we can make it clearer. Do you still think it needs changing now you've found it?
I think in the blog it's fine. I just didn't read it properly. Entirely my fault.
I was teasing a little when I said I had it on good authority the date for the price reduction. I was thinking that someone would ask what authority.
WHAT AUTHORITY?
It is very good news.

On good authority the price reduction will automatically take place on 21 March.

Now go on Allanr get in about them on the facebook page…pay back time. :slight_smile:

I think in the blog it's fine. I just didn't read it properly. Entirely my fault.

=) phew. Thanks for clarifying. You lot keep us on our toes!

Now go on Allanr get in about them on the facebook page…pay back time. :slight_smile:

Dash it all, so you have seen my Facebook contributions?

The price reduction is very welcome, thank you.

I’m not sure if it was just me, but the calculations used for the email were way out. Apparently I will save £587/year! I laughed then did the sums. I estimate I’ll save around £26/year. But in case it’s not just me you might be getting some very, very angry customers soon…

And just after I posted that an “oops, we made a mistake” email arrived with an explanation and the correct figures.

And just after I posted that an "oops, we made a mistake" email arrived with an explanation and the correct figures.

Sorry about the confusion. We sent a really small group of members an incorrect saving amount because our system got confused by some smart meters. We’ll make sure it doesn’t happen next time.