Price increases

Ive just switched and I thought the energy im buying is 100% renewable? So why am i paying a price increase becuase national gas stores are low?? Have i missed something here?
Cheers

This is the second price rise in under 6 months. And the later is 18%. If I put prices up that often and by that much, there would be a national outcry (I work in railways…). There is NO justification for such a rise. What evidence can Bulb give us that they are different from the other suppliers as I can’t see any?

Just found informed by letter that Bulb think my account will increase from around £1000 / year to over £31,000. Yikes, computer error in their favour…better find someone who is a little less!

Bulb are full of shit, saying their energy is 100% from renewable sources, i.e. a hydro dam in Wales. Well why 3 price rises in less than a year? they are also lying which i’m reporting to the energy watchdog, they said they are still cheaper than the big 6, LIE. British Gas are now £30 a year cheaper and price is fixed for 13 months, also, they give free boiler breakdown cover as part of the deal. So stick you price hikes where the sun doesn’t shine Bulb!

Hi all. Thanks for getting in touch. @HelloHello123 - Although all our electricity is renewable, only 10% of our gas is. This price rise is predominantly due to a shortage in Natural Gas supplies in the UK, which is why our gas price is rising more than our electricity prices.

Unfortunately, since a lot of the electricity in the UK comes from gas-fired generators, it increases the demand for electricity created from other sources. Wholesale energy costs the same regardless of the source, so if there is a large demand but a smaller supply, the price goes up across the board, and that’s why our renewable electricity has also gotten more expensive.

@GRHH - I appreciate that any price rise is disappointing, but the price of the product we need to power your homes have gone up. I’ve put some links from external sources to show this below. I hope this shows that there is a justification for this. Ofgem themselves had to raise the mandatory safeguard cap due to these wholesale rises.
https://independent.co.uk/news/uk/home-news/energy-bill-maximum-gas-electricity-cost-ofgem-safeguard-tariff-rise-variable-a8480536.html

Gas Future prices:
https://theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=142527&span=3

Natural Gas Prices hit 3 year high:
https://telegraph.co.uk/business/2018/08/26/european-gas-prices-hit-three-year-highs-set-keep-rising-companies/

@Exbury - This is definitely an error - I’ve sent you an email to go over this, apologies for the concern it caused.

@markdeakin - Our prices our cheaper than the standard tariffs that the Big 6 offer. We’re very transparent about our prices compared to suppliers, you can always review that here: https://bulb.co.uk/tariff/ . We have not misled in any of our communications regarding that, we have always showed our savings in terms of their standard tariffs.

If you can find a good fixed rate deal that suits your needs with British Gas then that’s great, I hope you enjoy having them as your supplier. We wanted to give you advance notice so you could do research before the new prices take effect.