Price Rise

My supplies were switched to Bulb on the 10th September. I received an e-mail informing me of price rises on the 11th. I do not think this is good customer relations. I will be changing my supplier as soon as possible.

Switch goes through today. Got my price increase email this morning. Wholesale energy cost up by 18%. My electricity tariff will increase by 8% on 11 November. OK, but why a 32% increase in my gas tariff?

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

And your point is?

And your point is?

.

I was always taught to add an explanation to a graph when I was at school, just adding a link without a comment is not entirely helpful.

Hi @stevep - @phproxy 's graph is showing how much the price of gas futures has gone up this year and this is why the wholesale price has gone up as much as it has. You’ll notice that your electricity has not gone up 18% as it has been affected less by the gas shortages.

@Byewaters - The price is rising on the 11th November, not today. You will have 2 months at your current rate before it goes up. If you are still unhappy about this that’s completely understandable, we don’t have exit fees or a fixed contract length so you can leave penalty free at any time.

Hello guys, I just read this email too. I only signed up in July having got my own place for the first time. The increase i’ve been notified of is not going to be easy to find however small. I’ve read the Bulb blog but the paragraph on why our renewables price is affected by wholesale is just two lines. Please can this be explained properly. I understand a little about supply and demand but I am 100% electric in my home, why should I be affected by gas??

Hi @FLS - that’s a fair question, sorry that the blog wasn’t clear enough on this. Wholesale electricity has the same price regardless of origin (Renewable energy is actually slightly more expensive as we need to pay for certificates to prove that it’s from a renewable source). So, renewable electricity costs the same as non-renewable electricity. Gas supplies are also converted to electricity, so when there is a gas shortage, which leads to price increases, there’s not as much of a supply of electricity as there is when Gas is plentiful. So the gas shortage means that other supplies increase in price as well - this is one of the key reasons why promoting more reliable renewable supplies is key. The more we have, the less reliance we have on other supplies of electricity, which lessens the likelihood of a shortage of one leading to an increase in prices.