November Price Rise

I phoned to discuss my 18% price rise because the email you sent stated a 18% rise in wholesale energy prices. As you graph in your blog states that that wholesale energy prices make up about 40% (source Bulb Data!) I was somewhat confused. Your colleague at Bulb was very unprepared to answer my question and presented me with the standard company response.
I have read all Bill’s responses on the Blog and still don’t know why my increase is not 40% x 18% i.e. 7.2% ??
I too joined earlier this year and received an increase of 17% before I had even stated to receive my energy from Bulb.
I’m pretty disappointed in Bulb. Varifair Tariff - Mmmm
I have no option but to look elsewhere, I cant afford to pay another £240 per annum.

Hey @Al_49. I’m sorry if we have not been clear in our explanation. I hope I can help.

At Bulb, we try to absorb as much of the increasing wholesale costs as we can. This means we try not to pass on the increasing costs on to our members where we can.

As wholesale energy costs have risen by nearly 50% in a year, unfortunately, we do have to increase our tariff in November. We have held off increasing our prices as the wholesale markets have been going up but have had to increase our tariff to reflect the overall trend, not just the recent 18%.

Therefore, our tariff is not a direct reflection of the recent wholesale markets.

We review our prices every week to reflect the true cost of energy. We’ll drop our prices when costs drop by £20.

We’re sorry that you are not happy. We still remain cheaper than the big 6 standard tariffs but understand if you can find a cheaper provider. We hope to be able to supply you in the future.

Let me know if anything remains unclear.