Given this summer has resulted in so much solar positive weather, which with wind is proving to be a cheap energy source and as bulb only buys green energy, why would you be putting your prices up?
As explained on their blog, there is currently one price for energy, green or otherwise. “While we only ever buy 100% renewable electricity and 10% green gas, there is only one price for gas or electricity in the UK. There aren’t separate markets for green and non-green energy sources. The price is determined by what people will pay for energy at a particular time, regardless of the source. So, when the cost of electricity produced by burning gas goes up, so does the cost of electricity from wind, solar and all other green sources.”
Green energy is not as cheap as some like to believe even without the parity charges in the wholesale market. A lot of any energy charges include a green tariff to actually help build the infrastructure. What’s good for Solar is often bad for Wind, and when temperatures soar, many Nuclear and Gas fired producers struggle to maintain production. This of course causes panic on the futures markets, energy is like all commodities gambled upon months before. So production has fallen, reserves are being depleted, it’s now the best bet in futures above oil.
Although solar and wind are cheap sources. Energy can only be bought at one cost from the wholesale market and other factors have outweighed green energy bring prices down. You can read more about wholesale costs of energy on our blog: https://bulb.co.uk/blog/wholesale-energy-market-update-august
We buy our energy from the wholesale market, and then make sure that for every unit of electricity you use we buy 1 unit of renewable certificates and for every 10 units of gas you use we buy 1 unit of green gas certificates. (Our supply is 100% renewable elec and 10% renewable gas).