Prices going up?

Scottish power want me to move from Bulb. They say bulbs tariff will go up. They can guarantee a fixed rate for 1 year. Is that true. Are prices at bulb due to rise?

Scottish power want me to move from Bulb. They say bulbs tariff will go up. They can guarantee a fixed rate for 1 year. Is that true. Are prices at bulb due to rise?

Bulb do not offer fixed tariffs. The Vari-Fair tariff is variable, which means that yes it can go up and down. Any price rises will receive 60 days notice, and Bulb do not charge exit fees meaning that if Bulb is no longer suitable for your use you can switch at no cost.

Bulb have had a large price rise as of November 2018. Since then, wholesale costs have come down and so any further price rise this year seems unlikely. It’s more likely that the tariff will reduce slightly. However, as with any choice between fixed-rate and variable-rate it is a gamble on future prices. The fixed rate tariff with SP will almost certainly cost more than the Bulb tariff right now, the extra you pay can be thought of as insurance against further rises, and you may well feel more comfortable with this certainty. Myself, I’m confident enough that Bulb will remain competitive that I will not be switching to any fixed tariff.

I’ve also had the Scottish Power win-back emails. They promised me a special tariff just for those in my area, available only directly and not via switching sites. For fun I did click through and obtain a quote for my expected usage. It was still about £200 more than I expect to pay with Bulb. So much for special win-back tariffs.

Scottish power want me to move from Bulb. They say bulbs tariff will go up. They can guarantee a fixed rate for 1 year. Is that true. Are prices at bulb due to rise?

Perhaps you should ask Scottish Power how they know Bulb’s are going to increase their prices, should be be interesting to see their answer.

Hi @Jnewman

We don’t know that the tariff is increasing, so I don’t know how Scottish Power would know that!

In fact, wholesale energy costs have been decreasing so it’s more likely that a price decrease will happen before any increases. We’ll keep you updated when a decision has been made.

We wrote an update about wholesale energy costs and how they effect your tariff on our blog. If you have any questions about this, just let me know.

British Gas reveals energy price hike of 10.5% for nearly FOUR MILLION customers adding an average £119 onto annual bills,

Eleanor at Bulb
so how come the big six are all claiming its because of wholesale energy costs rising, when evan from my very limited research i can see costs arent rising, it stinks of profiteering yet again just because the spineless ofgem have raised the energy price cap.

We have previously shown our support for the price cap. It protects customers against extortionately priced tariffs and creates greater transparency in the energy market.

But the price cap was meant to be a limit, not a target. We’re disappointed to see the Big Six energy companies are increasing their Standard Variable Tariffs to meet the upper level of the cap.

We’re not going to be increasing our prices based on the new price cap. Our one tariff reflects the true cost of serving energy. You’re right, wholesale costs have been decreasing and when we can save everyone £20 on their annual energy bills, we’ll lower our tariff.