Price increase

Well, that’s not a great a start to my new Bulb contract, is it? Just 5 days (yes, FIVE) after commencement at the pre-increase rates - allegedly foretold in general terms at least four weeks earlier - I’ve been advised of a near 4% monthly increase. Bulb, you should not (knowing where prices were headed) still be marketing at lower rates which you knew would be wrong! Perhaps now you should ring-fence your “£50 per new customer bonus”, and credit it back into current customer’s bills - that way, you might encourage current customers to extol the virtues of Bulb for free.

And for me, it’s just one day before my switch completes. Still, no exit fee, so worth doing another price comparison session on the PC tonight…

And for me, it's just one day before my switch completes. Still, no exit fee, so worth doing another price comparison session on the PC tonight...

Having said that, it’s not just Bulb who are putting prices up. It’s industry-wide. So I imagine Bulb’s prices will remain fairly aggressively competitive for some time.

Hi @AndrewB and @Bascule thanks for the feedback it’s good to know that the message that we were going to be increasing our prices didn’t get across to those of you who came through price comparison sites. We put it as a little message for everyone who signs up through our website, but it’s good to know that we needed to work a little harder to get that warning across to everyone else.Still, you have 60 days so if you’d like to switch away you’ll be gone before the increase and we don’t charge any exit fees. As @Bascule says, though, everybody else seems to be raising their prices too, so we’re still going to be one of the more competitive tariffs, and you should always be a little careful when you’re looking around in case anyone else is due for an increase. In terms of the £50 referrals, I’m told (though I’m certainly no expert) that it still makes financial sense for us to keep our referral programme running, and we don’t want to cause any problems for those of our members who rely on a steady flow of referral credit into their accounts.

@AndrewB @Bascule It wasn’t that long ago (about a year ago) that Bulb dropped their prices twice in three months, passing on savings on wholesale energy costs to members.

I appreciate you’ve joined based on numbers that aren’t valid any more and you definitely should re-assess, but I think that perspective is important. Bulb have, and likely will again, drop prices for members when wholesale energy prices drop, where as other energy providers in my opinion wouldn’t.

@AndrewB @Bascule It wasn't that long ago (about a year ago) that Bulb dropped their prices twice in three months, passing on savings on wholesale energy costs to members.

I appreciate you’ve joined based on numbers that aren’t valid any more and you definitely should re-assess, but I think that perspective is important. Bulb have, and likely will again, drop prices for members when wholesale energy prices drop, where as other energy providers in my opinion wouldn’t.

Thanks for that info. Definitely worth me keeping in mind.

@matthew744 Thanks for the comment although I can’t see prices coming down any time soon it’s nice to know they reduce them if it happens. To be honest I’m annoyed as I’ve just literally gone through the switching process the past few days. I think it would have been more open of Bulb to have told us with the joining email that the price was about to increase as it’s not as if this wasn’t in the pipeline. I suspect at best it’ll be no difference from my previous supplier now as they were putting their prices up which is why I switched. So as far as customer loyalty goes I’ve started with a big negative as I personally dislike companies which are less than transparent.

Bulb is still cheaper, its not as big increase as the other suppliers, and as you said everyone has put the price up!

Just based on Bulb’s calculation for my revised annual energy price, it seems as though the increase is only 1.5%.
Given the wholesale price rises, that doesn’t seem to me to be a bad deal.

@Bascule @AndrewHemp @Patryk @beezer0418 Although prices may not decrease in the near future whenever wholesale costs decrease by £20, we pass these savings on to our members.

For a bit of history of our tariff, we have decreased prices 7 times and increased them 3 times.

@Bascule @AndrewHemp @Patryk @beezer0418 Although prices may not decrease in the near future whenever wholesale costs decrease by £20, we pass these savings on to our members.

For a bit of history of our tariff, we have decreased prices 7 times and increased them 3 times.

Yep, having just switched, and with the prices in a state of flux across the board, I won’t be doing another switch right now for the sake of a few quid. Best to sit tight for now I think and let things run for a while.

@AndrewHemp In fairness to Bulb, they warn of potential price rises in their blog. This post was published in early May:

They do these regularly to help customers anticipate price rises. And when they do raise prices they give 60 days notice.

I think that’s pretty transparent. It’s also worth noting that because Bulb buy their energy in advance, the price rises are often delayed in comparison to other suppliers.