Energy Rates Are Going Up

As you’ve probably seen in the news, wholesale energy costs are continuing to rise. This is driven by surging fossil fuel prices as well as post-lockdown gas prices hitting an all time high. Due to this, the energy price cap will increase from 1 October.

Wholesale costs make up 40% of your bill – the biggest single cost so due to this we’ve had to increase our prices alongside the price cap.

We’ll be contacting all of our members between Wednesday 25 August and Tuesday 31 August to explain what the changes mean for you personally.

If you’re worried about the change, there are a number of ways we can help support you so please let us know.

We’re here on Community to answer any questions you have, but you can also read more about these changes on our blog. :bulb:

I’ve been a Bulb customer since 2018 and my tariff has only increased, quite a lot. You can in the ofgem page (google “ofgem check-if-energy-price-cap-affects-you”) that the price cap has been going down from summer 2019 to winter 20/21 in the “breakdown of the default tariff price cap” so that means the total cost of electricity has been going down as well… but for some reason my tariff only goes up! That’s very strange…
I started paying in 2018 6.45p/kWh at night and 13.99p/kWh during the day. Today I’ve received an email that says in October my prices are going to be 13.78p/kWh at night and 23.28p/kWh during the day… So during night it’s 2.13 times more and 66% more during the day… in 3 years! I’m sure renewable energy hasn’t gone up THAT much…
I concur with @BrianFreke , Bulb is having a laugh…

Hey @javigh, the latest Ofgem post talks about the increase due to surging fossil fuel prices and a rise in energy costs. Ofgem have increased the price cap due to this but our prices will be below the price caps for all our members.

Renewable energy is still linked to the cost of wholesale energy generally- At the moment, there is only one price for electricity and gas and the cost of renewable energy is linked to this. So higher fossil fuel prices put up the price of renewables too.

In the UK, we’re still heavily reliant on gas which means with the rising gas costs, the cost of electricity goes up as well and the whole energy market is affected. This is why the change still affects us even though we supply 100% renewable electricity.

If you have any more questions let me know!

– H :bulb:

I’m not saying prices shouldn’t go up now. What I’m saying is that the wholesale price has gone up and down in the last 3 years but my tariff has only gone up. So it seems Bulb changes the electricity prices only when it suits them but not when it suits the customer, because otherwise you should have lowered the tariff at some point as well since it went down for a year and a half (summer 2019 to winter 2020/2021) according to ofgem.

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@javigh We do lower our prices when the wholesale market changes- in 2016 and 2017 we decreased the tariff and more recently lowered our prices in 2019 along with the wholesale market when gas prices dropped.

We wrote a blog about it in feb 2019, and wrote about the settling costs in the wholesale market for Dec 2018 as well.

It looks like your property is elec only and joined us in mid-2018 so this won’t have been affected by the gas decrease- but we do pass on savings to members!

We do post these regularly to make sure members are up to date with the wholesale market and what the changes mean for their bills :blush:

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@holly_at_bulb I agree with @javigh I understand prices do go up however in May I had an email informing me that my bill is going up £1.56 a WEEK and today I received another email that in Oct my bill is going up a further £2.94 a WEEK. I now will be shopping around & moving to a different provider for sure.

All other suppliers are increasing prices as well, and those that haven’t yet are planned to increase in the next month or two. MSE “Cheap Energy Club” comparison only shows one other supplier that is cheaper than Bulb and coincidentally thats a supplier that hasn’t yet increased prices.

If you do manage to find another supplier that is significantly cheaper for you post price increases then I don’t blame you for switching! I’m just rather unlucky being electricity-only so I don’t get any better deals.

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So - after the UK govt advised it was lifting its price cap bulb are jumping on the band wagon and hiking their prices again - 25% this time!

Is it possible to see a financial report on bulbs profits and other costs?

I’ve been a bulb customer for a number of years now and NEVER have my prices come down - EVER! My bills get bigger and bigger every year - despite low energy devices and other improvements made to my home.

I accept prices go up and yes this is not happening for 6 months until March 2022 but what i HATE is the cost of the energy supplied to those customers living in Scotland - a place where the vast majority of the renewable energy the UK that bulb purchases is generated. I pay significantly HIGHER Tarriffs than many parts of the UK (up to 6p a unit more) because it seems that despite living in a densily populated part of Scotland in the central belt (which is the flat bit) its “more expensive” to get it to me. no its not! The infrastructure has been here for decades!
The cost of laying cables in Scotland is no different to that of the the rest of the UK so why the price difference especially for those that live “in the flat bit”. Infrastructure costs are paid for by the energy suppliers to the companies responsible for maintaining the network and as such those costs should be evenly distributed to ALL bulb customers.

We should ALL be on the same domestic tarriff - not one thats more beneficial to some over others! How is that fair?

It’s like HS2 - I cant use it up here but I have to pay for it in my taxes so why is it so different for power?

Its generated up here - its stored up here in the MASSIVE substation up the road from me so why am I paying more???

Makes me sick. Its getting to the stage where its not much more expensive to run a low emissions high output generator off grid than it is to buy electricity from a UK energy supplier!

I really feel for those less well off families who are gonna really struggle in the new year.

Theres no point jumping ship anymore either - theyre all the same!

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Hey @faith, because we have a variable tariff we have to adjust it when those wholesale prices go up and down. I do understand that it can be disappointing to receive another email with a price change, but as the wholesale market continues to rise we have to keep in line with it. Hopefully it will mellow out soon and we can pass this on to our members

You can of course switch- we don’t do exit fees so there’s no penalty if you switch away. And, if your new supplier tells us that you’re switching to them on or before 29 October, we won’t charge you the new rates while you’re switching to them. So you have plenty of time to work out how this affects you :slight_smile:

@flibblesan - 100%, it totally depends on your needs and set up. I’m glad to hear our tariff is still working for you- hope it continues to be this way!

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Hi @adrian3

As I mentioned above to @javigh, we have lowered our prices a number of times of the years along with the wholesale market. You joined us in March 2019 and are elec only so some of these might not have affected you, but we did lower them.

The wholesale market has gone up currently as well- Ofgem’s article also states that the increase is driven by a rise of over 50% in energy costs over the last six months with gas prices hitting a record high as the world came out of lockdown, so it’s not in advance of 2022- it’s looking back on the current year.

The price cap limits what suppliers can charge customers per unit of energy and in standing charge, it’s not a cap on the total cost of your annual energy bill. Our prices will be below the price caps for all our members. We bill to your meter readings and we’ll continue to do so, the cost per unit however has changed.

On renewables- I also mention this above- Renewable energy is still linked to the cost of wholesale energy generally- At the moment, there is only one price for electricity and gas and the cost of renewable energy is linked to this. So higher fossil fuel prices put up the price of renewables too. So even if you live in Scotland where renewable energy is generated, this will still be affected by the changes.

I think looking into the cost of supplying depending on location is a great question- There are three main things that influence how much energy will cost in a given area.
These are:

  • The amount of energy that a supplier sells in that region
  • The amount of energy that a supplier buys from the generators in that region
  • The amount of charges that the local distribution networks put onto your energy supply.

Uswitch explains it in a bit of detail as well if you’d like to read more.

Let me know if you have any more questions about this

– H :bulb:

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When will the Export payments be reviewed to take account of the increased wholesale prices, they have been pretty static since they were introduced?

I notice that yet again I’m being told that due to “wholesale energy costs are continuing to rise”, those costs are being passed on to me. Could you please take a moment to explain how “wholesale energy costs” have an effect on the standing charge, since you are increasing that too?

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Hey @paul.leppitt, welcome to Community!

Our Export payment rate changed in April this year but this is set separately to the wholesale market. It’s because it’s what you as an individual have exported and the cost is set by its own competitive market. We do have one of the most competitive SEG rates at the moment but it is something we’ll continue to monitor :sunny:


Hi @Niteowl Unfortunately the increase in wholesale costs has been so significant that we’ve had to spread the increase across all elements of our pricing

No I’m sticking, there is nobody cheaper, they are all the same

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March 2022? I think you’ll find it’s 1 October 2021! The six months you mention refers to Bulb’s “promise” not to increase prices thereafter for six months.

When wholesale costs and demand fell dramatically last year, bulb argued that the effect was to increase the fixed cost elements. So now demand has increased, the opposite should happen.
Incidentally, as far as I can see, wholesale prices, as far as I can see, have only ‘recovered’ to 2018 levels.

I believe there has now been three price increases in the last year with Bulb and the latest one announced will mean there are now other energy suppliers who are cheaper having done my homework. It’s a shame that it seems Bulb are now going down the list rather than staying at the top. It will only mean Bulb will lose customers an therefore revenue which will not help them financially. Since I have been with Bulb they have been Great in every aspect, however in this day and age more people need to save on costs rather than keep increasing them as everything is going up. So I for one will be looking to move . Sorry Bulb.

@dleslie - Wholesale prices have continued to rise across 2020 and 2021 following on from the pandemic amongst other reasons. April '20 we were able to lower our prices but as the wholesale costs started to climb again mid-2020 we’ve adjusted in line with this as the changes have happened. We have to adjust our costs in line with wholesale as the variable tariff reflects the true cost of energy which has changed


Hey @dave41225 - we’re sorry to see you go but understand if you’ve found a better deal out there. We’re always keeping a close eye on what wholesale costs mean for our prices. We hold off passing on price increases for as long as we can. When wholesale prices reduce sufficiently, we pass those savings on to our members too so maybe see you back in the future :blush:

The thing is last time I was with Bulb they kept telling me I need to pay more every month so I wouldn’t go into Debit. Being the trusting sort I am I did what I was told. BUT when I eventually left Bulb It turns out I was £550 in credit . Now here I am again back with bulb for 2 months being told that i need to up payments from £200 a month to £314? Now I live in a standard 3 bedroom terrace not Chatsworth House. I’m not POWERING a covert drugs farm in my loft nor am i powering Jodril Bank down the road so I’m wondering should I take this payment request with a pinch of salt? It does seem a little excessive for a house my size even if every appliance was on 24/7 which i promise you they are not. Any comments opinions welcome??

Bulb having just announced another whopping increase, can someone remind me how many increase Bulb has imposed already in 2021. This will be the third increase I think.

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