Thanks for the feedback @mowcius . The last thing we wanted to do is cause confusion.
We’ll continue to use graphs to illustrate the wholesale costs in our energy price watch blogs but be consistent with the length of the x-axis. And where we can, explain any significant changes in our costs that will affect your monthly bills.
Wholesale costs have decreased by around £85. Most network and policy costs have increased this year. And there are other network and policy costs that we didn’t have at this time last year.
For example, in winter 2018-19 Bulb was pleased to start offering the Warm Home Discount (WHD). This is a social obligation on energy suppliers to provide financial support to members in low income, vulnerable situations during the winter when they really need it. And this year we will also be offering ECO (which stands for Energy Company Obligations) for the first time. This means Bulb is going to fund the installation of energy efficiency measures in people’s homes. This helps people lower their bills, and is also good for the environment.
Where we can, we absorb the costs ourselves but we do have to pass some of these to members to remain a sustainable business.
We dropped our prices twice last winter saving our members around £22 on their annual energy bill. Once there’s more certainty in the markets and wholesale costs remain low, we’ll be able to lower our tariff.
Bulb’s international expansion is achieved through a small, dedicated team which minimises the cost to the business. Our core focus is providing our members with a fair deal on energy in any country we operate in.
All companies are obligated to purchase renewable obligation certificates. The cost of ROCs have increased but this is the same for all suppliers. Not just Bulb.
We focus on more efficient ways of serving our members. Better and more intuitive technologies help our Energy Specialists solve our members’ queries much quicker. We strive to continuously make improvements in this area, and pass cost savings from economies of scale to our members, as we did last year.