How is it that my energy costs have more than doubled since Bulb went into “special administration” I mean compare it to last years bills of the same time and it is more than double the cost. Surely this can’t be right. It feels like I’m being done up like a kipper???
I was surprised to receive my annual winter fuel allowance which was nice as I thought with all the “measures” in place Bulb would try to take this away, but it very much feels like ‘give with one hand and take away with the other’ I’m going to very soon struggle to pay £120 pm for a new build one bedroom flat (no gas) Economy 7. Admittedly this year was the first time I’d used the heating in almost 7 years as age and disability seems to be catching up on my cold bones , but if this carries on I’d rather buy more clothes (jumpers and robes) to wear as it would be far more economical. I never thought I would get to a stage in my life where fuel poverty would become a stark reality.
Welcome your thought my friends.
Thank you for posting and welcome to the community.
We appreciate that the increase we’re suggesting is high. We’ve made this suggestion due to the slight deficit on your account and your projected usage was higher than your current payments.
Here at Bulb we buy our energy in advance and hedge only a few months ahead. This means that we’re able to offer a cheaper tariff for all our members - but in order to provide that cheaper tariff, we need our members to keep credit in their account. If not, we’d have to increase our tariff relative to what it is now to help us build a cash reserve for winter months. Keeping 1/2 months credit in the account also means you have a buffer for any winter usage that may be a bit higher than normal.
Ultimately you only pay for what you use, so if you’re paying too much then this excess credit will build up in your Bulb Account and the payment can be brought down, or you can have this refunded. If you aren’t paying in enough, then a debit will build up and you would need to pay this off at some point.
If you’d prefer to pay on receipt of bill we can amend this for you. This means your direct debit will still stand but when your statement is produced each month, you will be charged for the statement amount. For example, if your statement in November states you’ve used £150 of energy, this exact amount will be taken via direct debit. If the funds are not available, and we cannot take the payment within 14 days of your statement date, you will be charged a missed payment fee.
This is a less flexible option in regards to higher statements, as all statements need to be paid in full, and does require you to give us meter readings no more than 3 days before your statement to ensure an accurate bill.
Unfortunately, the UK is still dependent on gas-fired power plants for a significant chunk of electricity generation. So, when the cost of electricity produced by burning gas goes up, so does the cost of electricity from wind, solar and all other green sources. We have had several rising price costs over the year and this may have had a significant impact in your monthly bills. Price changes are a standard industry practice. We base our tariff on the true cost of energy so as the wholesale market changes, we have to change our costs in line with this.
I read your reply with interest. From my understanding, you say that the cost has gone up due to the gas that is used to generate Electricity ?
If this is causing an increase in prices for other methods, such as wind, solar and other sources, then surely, someone is hiking prices to profiteer ? …
I would have assumed that Energy Companies would be questioning this and purchasing accordingly. Not just paying rip off prices and passing that on to their customers in turn ?
I have observed the same and are feeling just the same.
It seems to be the way when administrators are called in. It’s all about cutting costs and maximising profit and to hell with the end customers and value for money.
If things carry on like this, maybe we should all vote with our feet, as nothing else makes any difference.
There’s only one wholesale price for electricity regardless of how it’s generated. So when gas prices are high, electricity prices are high too. Read the Bulb blog for more information. At the moment energy suppliers are charging customers at the October price cap, so many are actually losing money because it’s currently costing them more to buy the energy. Hence several going out of business.
I appreciate the reply, but it still does not answer why my bill is nearly DOUBLE than that pre BULB administration and the usage compared to the same time as last year???
£120 per month for a very well insulated one person dwelling one bedroom flat that had a high insulating properties (new-ish build)
Surely I’m protected with the price cap, but from my usage cost this does not seem to be the case. I mean double the costs, REALLY ???
The price cap only limits the maximum price that can be charged. Ultimately, the more you use, the more you’ll pay and vice versa. I’m paying £90 per month for the same setup as yours. I only use the heating morning and evening. £120 doesn’t seem too high, and yes, compared to last year, prices have soared. So, double may be reasonable if you’re also using more than last year.
Also, Bulb’s prices have not increased since administration. Any increase in your bill since then may be due to increased usage.
Prices have gone up a lot over the last year so a significant increase between the same months a year apart is expected.
You also stated that you started using the heating this year, meaning you didn’t use it last year. Therefore an even larger increase would be expected.
Instead of comparing the £££ between this year and last, look at the total kWh you used in each month. If you use more kWh it’ll cost more even if the prices hadn’t changed.