Energy price watch: we're changing our prices - April

Hi Everyone :wave:

We are changing our prices. Our latest blog post explains the changes.

The cost to supply energy has gone up and we need to increase our prices. On 19 April our electricity and gas prices are going up, along with our daily standing charge. A typical member will see their bill increase by £91 per year. After the changes, we’ll be below the energy price cap.

We’ll be in contact with all our members individually between Wednesday 17 March and Friday 19 March to explain what the changes mean for you.

If you have any thoughts or questions about this at all, you can post them in this thread and we’ll get back to you ASAP.

Best,
Mel

prices just gone up £95. what do we do now ?

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Well, this story has already hit MoneySaving Expert (see their Front Page - who suggest that on average, some other suppliers are now £150 a year cheaper). Make that £200, with the referral link that somebody has already dropped in the comments for Octopus.

Octopus is 4.8 on TrustPilot.

Bulb is 4.6 - so I guess there is not a lot in it service wise, just depends if the Octopus prices are sufficiently lower to make it worth the hassle.

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Yes they are, email received. Price of wholesale energy increased, now is 31% higher than in September due to the extra cold weather. Electric up from 16.914p to 19.016 p per kWh and standing charge up to 19.457p per day. Gas up from 2.780p to3.014p per kWh and standing charge up to 25.158p per day.

This is a false reading, as bulb customers are urged to do an “on the spot reading” of how well their switch went.

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Bulb ARE increasing prices from April. Martin Lewis Money Saving Expert article dated yesterday 17th March says the following:

“About 1.7 million Bulb customers will see gas and electricity bills rise by up to £91/yr on average in April as the energy supplier has announced it’s raising the price of standard credit and prepayment tariffs”.

@Bulb what are your new prices going to be please

There’s a new entry in the Bulb blog about it:

Nice link to the Bulb blog but I want to know what the new prices are going to be please

Its in the email there sending out to customers. Here from mine:

Your rates

We’re increasing our electricity day unit rate from 18.015p to 19.467p per kWh and increasing our night unit rate from 8.937p to 10.542p per kWh. Our electricity standing charge will also increase from 21.071p to 22.806p per day. Our gas unit rate is increasing from 2.720p to 2.825p per kWh and standing charge from 20.444p to 25.158p per day. These prices all include VAT at 5%.

The blog entry tells you:

a) that an email setting out the detail is being sent to all affected customers

and

b) that you can look up your prices on the Bulb Tariff page.

Bulb’s rates vary by region (just like every other energy supplier), so depend on where you live.

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I’m a little disappointed & not sure if I’m posting this in the right place or not but I’ve literally just switched to Bulb from British Gas (had confirmation that it’s all done today) & then I get this email to tell me that my price is basically going up £70 a year!! I live in a 1 bedroom bungalow (it’s small)! So I’ve basically just lost what I was saving by switching!!
Does anyone know if there is anything I can do?

Hi @Tipps69 :wave:

Welcome to the community. :raised_hands:

We are sorry about the timing of this.

I recommend that you check how the new tariff. compares to your previous supplier. You can check this on our join page, it will also be emailed to you.

The price increase is an estimate of what we think you’ll use so I do recommend checking the tariff itself.

Let me know if you have any other questions.

Thanks,
Mel

I don’t understand - my current prices are:

17.6p per kw/h day
9.21p per kw/h night
21.16p daily standing charge

Your reply doesn’t seem to relate to my prices

I’ve followed your link but it only gives me the prices that I am paying NOW - I thought it was quite a simple question to ask what my prices will be changing to???

Can’t you give me the new prices? I thought it was a straightforward question…

Hi Mel
British Gas offered me a price reduction midway through the switch taking place which I refused because I was already going through the switch & seemingly foolishly trusted Bulb having just agreed to switch!
I’m currently seeking legal advice to see where I stand because being completely honest, this feels more than a little underhand & I’m now not very confident in this process!

Hi @Tipps69

We do have a variable tariff so we follow the wholesale market.

It is a change that has happened to all Bulb members at the same time. I can see how the timing of your switch is frustrating.

If you do no longer want to be with Bulb you can request a switch to a different company, we would be sad to see you go - but we don’t have any exit fees.

Best,
Mel

Hi @holly

You can find your new tariff on our join page and it will be sent to you via email.

I hope that helps,
Mel

i have noticed your prices going up and you are not the cheapest as you were when i joined,just over a year ago,i am on pre pay,i have been searching for cheaper tarriff as these prices went up i think 6mths ago and again now,some companys have a fixed rate for a year if you change now maybe not much difference,but it all helps,19.25/8,40 electric and gas 2.49 kw compared to your 20.7/10.8 electric and 3.1kw gas

I don’t work for Bulb, so all I can do is point you at their resources.

According to Bulb, the Tariff page has been updated with the price changes coming into effect next month.

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sorry first time on here