Price Increase

Having literally just switched over to bulb this month, an immediate £100 per year price increase is a real piss take.

But it still cheaper than your previous supplier, isn’t it? And you have 60 days to find a better deal somewhere else if bulb is more expensive.

Having literally just switched over to bulb this month, an immediate £100 per year price increase is a real piss take.
Same here, But looking around they are still cheaper than my present supplier SSE. Okay their Standing charge is a little bit more than SSE but in in all a better deal. As someone stated that if the cost of both gas and leccy come down Bulb will do as well, which the big 6 wont do.

There seems to be a lot of faith on this site that Bulb will be quick to reduce prices if and when wholesale prices reduce. Time will tell I guess. As for them still being cheaper than my old supplier, it’s hardly the point. They were still advertising prices that they knew would soon be hiked, and I don’t find that transparent.

@clover146 We have been advertising on our site in the switching process that wholesale costs were on the rise and we may have to increase prices and we have made blog posts warning that the increase may be due.

We try to be as transparent as we can, and give twice the amount of notice we are required to by OFGEM to notify people of the price change. We also don’t charge any exit fees so if you would like to switch away you can do so with no penalty.

Every time wholesale costs decrease by £20, we pass these savings on to our members.

There seems to be a lot of faith on this site that Bulb will be quick to reduce prices if and when wholesale prices reduce.
Seven reductions and three increases since the business started in 2015 seems like a pretty good track record.
@clover146 We have been advertising on our site in the switching process that wholesale costs were on the rise and we may have to increase prices and we have made blog posts warning that the increase may be due.

We try to be as transparent as we can, and give twice the amount of notice we are required to by OFGEM to notify people of the price change. We also don’t charge any exit fees so if you would like to switch away you can do so with no penalty.

Every time wholesale costs decrease by £20, we pass these savings on to our members.

Perhaps, but as the vast majority of people switch via comparison sites (which were carrying no such information on your price rises), your point in largely irrelevant .

@clover146 What that suggests is that the issue is with the price comparison sites, not the individual energy companies - and it’s not really a ‘problem’. It just means that price comparison sites can’t predict the future! British Gas might change it’s price tomorrow, and the comparison site wouldn’t know until it actually happened. Obviously they can only use current prices to compare suppliers.

So although you are right and most people do switch via comparison sites, it’s always be worth checking out the website of the supplier you want to go for, just to check them out before you sign up. I guess the takeaway is to always fully do your research before signing up to anything!

@clover146 What that suggests is that the issue is with the price comparison sites, not the individual energy companies - and it's not really a 'problem'. It just means that price comparison sites can't predict the future! British Gas might change it's price tomorrow, and the comparison site wouldn't know until it actually happened. Obviously they can only use current prices to compare suppliers.

So although you are right and most people do switch via comparison sites, it’s always be worth checking out the website of the supplier you want to go for, just to check them out before you sign up. I guess the takeaway is to always fully do your research before signing up to anything!

That’s a bit naive. Bear in mind that many companies will pay comparison site for new business generated by them - they could, and should be ensuring that customers can make a fully informed choice when using comparison sites. Bulb could have easily notified these sites when they updated their website, but chose not to.

Maybe the naivete is in putting too much faith in comparison websites. :confused:

I’m as unhappy as anyone else when prices rise but old enough to remember when the energy industry was such that you didn’t have any choice over who you paid for your power. We’ve seen that wholesale prices have been increasing for some time now and whilst I could wish I’d got into a really good fixed deal and avoided the increases the fact is that when that deal ends you’re back out looking for another in what might well be a more expensive market. Bulb don’t charge if you leave so if you can find a better price go for it. Personally, I’ll stick with Bulb for a bit, their single tariff is easy to understand and their business operation seems sustainable, which may not be the case for some of the new providers who are offering apparently tempting deals.

I'm as unhappy as anyone else when prices rise but old enough to remember when the energy industry was such that you didn't have any choice over who you paid for your power. We've seen that wholesale prices have been increasing for some time now and whilst I could wish I'd got into a really good fixed deal and avoided the increases the fact is that when that deal ends you're back out looking for another in what might well be a more expensive market. Bulb don't charge if you leave so if you can find a better price go for it. Personally, I'll stick with Bulb for a bit, their single tariff is easy to understand and their business operation seems sustainable, which may not be the case for some of the new providers who are offering apparently tempting deals.

Bulb don’t charge if you leave? That’s big of them. Funnily enough, I don’t expect to be charged for the privilege of exercising my consumer rights.

@clover146 We aren’t able to get price comparison websites to warn that we might be increasing prices. They do not have that option available, otherwise we would use it.

From 10th May we emailed every new enrollment, that has come from a price comparison website, the day after they enrolled to let them know we might increase prices.