Price rise

I hope your low prices are not something of the past !and a lure to attract me to bulb , in the bussiness your in surely you new these price rises were coming

Hi @Realist - we don’t aim to mislead with our prices. It would be a foolish strategy for a company that doesn’t have any exit fees as everyone would leave if we were being dishonest. We used every avenue at our disposal to caution members that wholesale prices had been rising a month before we announced a price rise, including a blog post on our site and an email to all our existing members about this in August, while also updating the quote page to warn that these prices could change due to the rising wholesale price, and an email to every single member that signed up on a price comparison website letting them know that wholesale prices were rising, and if the rise didn’t stop that we’d have to follow suit.

With that in mind though, I’ve seen a lot of feedback of additional things we could do, that I’ll be sharing with the wider team in the hope to further improve this in future.

I get the impression Bulb has best intentions at heart.

However, asserting that renewable energy producers should sell at a higher rate when the cost of gas goes up, (‘and rightly so!’?), makes a mockery of the whole ‘renewable energy’ ethos…clean, cheap, sustainable, and environmentally favourable.

It smacks of profiteering, and provides robust ammunition to those opposing, and/or cynical with the notion of a ‘green’ future.

We hear that the current model of energy delivery is becoming increasingly out of date, due to the ‘rise’ of wind, wave and solar etc. But if renewable energy providers, and utilities such as Bulb play the old consistent price hike game, they’re going to lose the argument for a truly sustainable future.

Have a word with your providers, and inspire game changing approaches and ethos.

By the way, the idea of constantly switching providers to obtain (slightly) cheaper rates, is nonsensical.

Hi @Frank_Montana - some really valid points here. I agree that it can look bad if a renewable energy supply raises their price due to fluctuations in the rest of the market, but one of the benefits of this extra money at this time is that it should hopefully drive more investment into energy creation on their side.

We honestly think the more diverse the market is for sources of energy the less spike’s will see if one of the sources fails (gas now for example). We’d love if we could have locked in supply from all renewable sources, and we’re trying to get as many Power Purchase Agreements for this as we can so that we’re guaranteed as much as we’re going to need, but if a renewable provider is getting more money to end up creating further panels, windmills, whatever else, I’m personally happy it goes to them rather than a non-renewable supply point.

At the end of the day, we can’t gamble and risk not raising our prices when our prices no longer reflect the cost of the energy we buy, we’re always looking for ways we can lock in our energy at a set price.

As for the constant switching, I agree that it’s not an ideal situation - we want people to join us and stay with us for as long as possible because they think that we’re right for them, we don’t want people to have to switch to remain in front, but we’d also be letting our members down if we didn’t let them know that they are not locked in with us, and that by looking around there may be something better suited to them, be it a fixed tariff, a lower variable one, even if it’s not a green one.

Hello Bill

Thanks for the response…I’ve only just noticed it.

I can see your points, and like the idea of renewables using the money in further development.

Regarding ‘switching’ to ensure low rates, I wasn’t having a pop at Bulb. It’s a service wide thing (insurance, telecoms, etc), and it seems to have gone crazy.

I’m looking forward to future methods of energy usage and pricing, that smart metering, and further input of renewable energy, will hopefully bring. We’ve finally lashed out on PV and battery, that will hopefully be up and running within the next month or so. So we’ll see how that works within the mix.

I’ve no doubt I’ll be prompted to air future misgivings, along with other sceptics, but thanks for taking the time to explain the ‘other angle’.

Cheers

Hello Bill

Regarding ‘switching’ to ensure low rates, I wasn’t having a pop at Bulb. It’s a service wide thing (insurance, telecoms, etc), and it seems to have gone crazy.

Cheers

Martin Lewis has a lot to answer for, regarding the switching craze!