Price Comparisons

I have now been a Bulb customer for over a year but am surprised by the price increases they are putting through. Every year or so I compare plans. In March 2019 I moved to them because they were Green and, whilst not the cheapest, they were competitive. I have now used a comparison site for Green only and Bulb is 14% more than the cheapest (Ovo) and 23% more than the prices when I signed up (using a constant usage and prices then and now). I would be interested in Bulbs response.

Here is my spreadsheet:

March 2019 Daily Unit
Scottish (current) £0.1981 £0.1241
Scottish £0.3780 £0.1614
Bulb £0.2044 £0.1356
Shell (Aug 2019 Offer) £0.2035 £0.1651

Ocober 2020 Daily Unit
Bulb (current) 0.23070 0.16905
Ovo 0.18974 0.14847
So Energy 0.22050 0.14820
E.on £0.1050 0.15793

Hi @Ashbulb ,

Thank you for your post. Upon comparing tariff rates, it might be worth taking a look at whether the tariffs for the other suppliers are fixed tariffs or not, as ours is a variable tariff which means that if our costs come down, so will the tariff and vice versa. A standard variable tariff after a fixed contract will likely be higher than ours, which is also a factor worth considering. This is also why we have a variable tariff for all members, rather than some on contracts and some not to help make our pricing as fair as possible.

Also, when determining our pricing we use 12 month ahead wholesale pricing but other suppliers use the Ofgem next day pricing. This also has an impact on the tariff. We aim to ensure that we have fair pricing for all members to reflect the true cost of the energy being supplied to them.

I hope this helps! Please do let me know if you have any further questions :slight_smile:

Thanks.

The others are all 1 year fixed and therefore you do need the discipline to review after 12 months to stop falling into the “standard” tariff trap.

But your costs are only going up and, as my analysis shows, going up by large amounts.

I could save >£100 pa by switching.

Hey @Ashbulb,

Completely appreciate that at this time you may save by switching, but as with a variable tariff, this may not also be the case. The benefit of sticking on a variable tariff is that if wholesale costs fall by £20 per year for the average households, our prices will drop too.

But they haven’t! They shot past fixed rates and I’ve never seen a drop. I’ll stick with you for a while but not too long!

Both Igloo and Pure Planet are offering cheaper VARIABLE rates(dependant on postcode as these things are)

Ain’t gonna happen anytime soon

Thank you for that … both are MUCH (12%) cheaper than Bulb. I don’t think the buyers at Bulb are doing a good job. Bulb need to sharpen their pencils and REDUCE their prices to get in line with the competition. Igloo would save me £121 pa and Pure Planet £108.

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Agree there Skippy64, they always seem to throw that one in, but as they said earlier they will lower one and increase the other and then theirs the increase of the in famous Direct Debit which has another rule with Bulb.

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May as well be in your pocket as theirs.
If you are a low user(no EV or storage heaters) would also recommend you check- out GREEN. “oak” tariff, also variable. That’s the one based in Newcastle

One wonder what willl happen in six(6) months time when OFGEM reveiw the price cap.
Another increase? :joy: :joy: :

I moved over to Octopus earlier this week so no surprises on the horizon. I’m on a fixed rate for next 12 months so that will work fine with me. As I said they always throw price might come down, I think in the last two years I have had 1 may be 2 price drops but then we get an increase and were back to where we started from.

What’s this about their Direct Debit rule?

Used to be able(pre-covid) to lower it to reflect your usage, now can only lower it about 10%
The majority of customers have seen an increase in their D/D