Not Saving as much as expected

Has anyone else been surprised by Bulb putting up the monthly direct debit not long after switching, meaning they will not save anything like a much as suggested before the switch? (despite providing accurate consumption data)

Yeah i got an email yesterday , saying they have to put my payments up £40 a month ! this equates to 45% … also the email is telling me , that i need to have 2 months credit by this time next year (£260) . So i will have a couple of hundred pound sitting in bulbs account making interest ! Maybe time to switch to another , this is the first time i have moved from the big 6 , but i thought would be fairer .

Don’t confuse “the bill” with “the monthly direct debit”. The two are almost completely unrelated. You could be paying £10 a month. Cheap, right? Until you realise you’re building up a huge debt. Likewise you could be paying £200 a month, and building up a huge credit. Neither of those tell you how much your energy is actually costing you in terms of pence per kWh.

To compare with other suppliers you need to look specifically at the pence per kWh and the standing charge per day. Nothing else is relevant at all, especially not how much you pay per month.

On a monthly payment plan it’s perfectly normal to expect to be in credit at this time of year by a few hundred pounds in order to cover your expensive winter usage. That’s the whole point of this type of monthly system. All the suppliers are the same.

Yeah i understand , but as i only switched 2 months ago , bulb got all my previous meter readings , and gave me a over all price for the year and monthly , telling me how much i will save . But suddenly Im using all this extra energy than previously thought ? The reason i moved was the big 6 were charging so much , but now with this increase , im not actually much better off ! And as i said , why should i build up a credit for next winter ?

Yeah i understand , but as i only switched 2 months ago , bulb got all my previous meter readings , and gave me a over all price for the year and monthly , telling me how much i will save . But suddenly Im using all this extra energy than previously thought ? The reason i moved was the big 6 were charging so much , but now with this increase , im not actually much better off !

Are you using extra energy? What do your regular meter readings say?

How do the unit rates that Bulb are charging you compare to what you can get elsewhere? That’s the only way to know if you’re saving any money or now.

If you know what your usage is likely to be, then just ignore the Bulb suggest to increase your payment. it’s fine. Just keep an eye on it yourself to make sure you’re paying enough.

And as i said , why should i build up a credit for next winter ?

Because that’s the tariff you signed up to. That’s how it works. Ensuring you are in sufficient credit this time next year, ready for the next winter, is how it’s supposed to work. If you don’t like that, then that’s fine, you need to switch to a quarterly billed tariff rather than a monthly billed one. Bulb don’t offer a quarterly tariff, which I’m sure you know from your research before switching supplier. So you’ll need to switch elsewhere for a quarterly tariff. Bear in mind that such a tariff will almost certainly be more expensive when you look at the unit rates (pence per kWh).

Yeah i understand , but as i only switched 2 months ago , bulb got all my previous meter readings , and gave me a over all price for the year and monthly , telling me how much i will save . But suddenly Im using all this extra energy than previously thought ? The reason i moved was the big 6 were charging so much , but now with this increase , im not actually much better off ! And as i said , why should i build up a credit for next winter ?

DITTO !

Yeah i understand , but as i only switched 2 months ago , bulb got all my previous meter readings , and gave me a over all price for the year and monthly , telling me how much i will save . But suddenly Im using all this extra energy than previously thought ? The reason i moved was the big 6 were charging so much , but now with this increase , im not actually much better off !

Are you using extra energy? What do your regular meter readings say?

How do the unit rates that Bulb are charging you compare to what you can get elsewhere? That’s the only way to know if you’re saving any money or now.

If you know what your usage is likely to be, then just ignore the Bulb suggest to increase your payment. it’s fine. Just keep an eye on it yourself to make sure you’re paying enough.

And as i said , why should i build up a credit for next winter ?

Because that’s the tariff you signed up to. That’s how it works. Ensuring you are in sufficient credit this time next year, ready for the next winter, is how it’s supposed to work. If you don’t like that, then that’s fine, you need to switch to a quarterly billed tariff rather than a monthly billed one. Bulb don’t offer a quarterly tariff, which I’m sure you know from your research before switching supplier. So you’ll need to switch elsewhere for a quarterly tariff. Bear in mind that such a tariff will almost certainly be more expensive when you look at the unit rates (pence per kWh).

I don’t mind building up a credit if I’m in credit by a comfortable small amount overall on the year. But the annual saving looks like being a lot less that I was “sold”

I don't mind building up a credit if I'm in credit by a comfortable small amount overall on the year. But the annual saving looks like being a lot less that I was "sold"

There’s been a price increase on 11 November.

This is unwelcome, of course, but you and I were “sold” a variable tariff and variable it is.

If you wanted certainty for the next 12 months then you should have taken a fixed tariff with a different supplier.

Complaining that a variable tariff has varied is a bit, well, I don’t know …

Yeah i understand , but as i only switched 2 months ago , bulb got all my previous meter readings , and gave me a over all price for the year and monthly , telling me how much i will save . But suddenly Im using all this extra energy than previously thought ? The reason i moved was the big 6 were charging so much , but now with this increase , im not actually much better off !

Are you using extra energy? What do your regular meter readings say?

How do the unit rates that Bulb are charging you compare to what you can get elsewhere? That’s the only way to know if you’re saving any money or now.

If you know what your usage is likely to be, then just ignore the Bulb suggest to increase your payment. it’s fine. Just keep an eye on it yourself to make sure you’re paying enough.

And as i said , why should i build up a credit for next winter ?

Because that’s the tariff you signed up to. That’s how it works. Ensuring you are in sufficient credit this time next year, ready for the next winter, is how it’s supposed to work. If you don’t like that, then that’s fine, you need to switch to a quarterly billed tariff rather than a monthly billed one. Bulb don’t offer a quarterly tariff, which I’m sure you know from your research before switching supplier. So you’ll need to switch elsewhere for a quarterly tariff. Bear in mind that such a tariff will almost certainly be more expensive when you look at the unit rates (pence per kWh).

You are missing the point. Overall, on the year, I will save less than expected. And if it turns out in the unlikely event I will save more than expected (have greater credit), then I hope they will pay me interest !
I hope they will pay me interest !

No, they do not pay interest. But some suppliers do pay credit interest. Perhaps you could switch to one of them if that (ahem) interests you.

Yeah i understand , but as i only switched 2 months ago , bulb got all my previous meter readings , and gave me a over all price for the year and monthly , telling me how much i will save . But suddenly Im using all this extra energy than previously thought ? The reason i moved was the big 6 were charging so much , but now with this increase , im not actually much better off !

Are you using extra energy? What do your regular meter readings say?

How do the unit rates that Bulb are charging you compare to what you can get elsewhere? That’s the only way to know if you’re saving any money or now.

If you know what your usage is likely to be, then just ignore the Bulb suggest to increase your payment. it’s fine. Just keep an eye on it yourself to make sure you’re paying enough.

And as i said , why should i build up a credit for next winter ?

Because that’s the tariff you signed up to. That’s how it works. Ensuring you are in sufficient credit this time next year, ready for the next winter, is how it’s supposed to work. If you don’t like that, then that’s fine, you need to switch to a quarterly billed tariff rather than a monthly billed one. Bulb don’t offer a quarterly tariff, which I’m sure you know from your research before switching supplier. So you’ll need to switch elsewhere for a quarterly tariff. Bear in mind that such a tariff will almost certainly be more expensive when you look at the unit rates (pence per kWh).

You are missing the point. Overall, on the year, I will save less than expected. And if it turns out in the unlikely event I will save more than expected (have greater credit), then I hope they will pay me interest !

You will save if you use the same amount of energy in the previous year.

Your issue is that your paying more money in advance than your bills are, but that is because of the system that is designed to have you keep paying the same flat rate all year round rather than paying variable amounts depending on the time of year.

A more visual example with a table:

With the table above you can see the regular fixed DD (with the first month having 2 months that is the advance payment and the monthly payment) and the varied Monthly bills and the renaming balance (credit or debt) I have, but at one point I will have accrued credit to nearly 4 times my DD, but by the end of the year, there is enough to cover the following month payment with a small amount of credit to start accruing again for next years winter months.

It might get to a point that my credit is too high and i can always ask for a partial refund to leave enough credit to accrue and pay for next months bill.

Obviously the above examples has flaws, there is never an increase of usage from the previous year and there is no price increase at all, but gives the general idea.

With this system you need to give regular meter readings to avoid estimated billing. Estimated billing will always be higher than what you actually used, that is just how the system works.

Yeah i understand , but as i only switched 2 months ago , bulb got all my previous meter readings , and gave me a over all price for the year and monthly , telling me how much i will save . But suddenly Im using all this extra energy than previously thought ? The reason i moved was the big 6 were charging so much , but now with this increase , im not actually much better off ! And as i said , why should i build up a credit for next winter ?

To better understand your query did you switch to Bulb before or after 10 September as this is when Bulb advised they were increasing their prices?

Also when you say you are using extra energy is this based on actual or estimated meter reading?