Why, if my supply from bulb is 100% renewable, does the increase in North Sea gas prices affect my tariff?
I believe all gas/electric is put on the wholesale market as a whole, it is not isolated by type. This may change in the future as renewable % increases.
ive not got there yet and putting my prices up in november dont think! so by to bulb!!!
The answer is simple, Bulb are full of shit like all the energy suppliers. Energy should be nationalised, that way it would be supplied at cost, not for profit. Privatisation does not work in bringing prices down, all it creates is collusion amongst the suppliers to regularly increase prices. It’s almost criminal. I look forward to retiring to Asia when i shall have Sola panels and live off grid, free from the energy company shysters!
Sounds like your issue is more to do with government than Bulb, I dare say you grow your own food in the uk to avoid supermarkets making profit from you and those solar panels you eventually get are free and nobody makes a profit from them.
Thanks for your feedback.
@PLS99 That’s a really good question and it’s actually because although we guarantee renewable electricity we still have to buy our energy on the wholesale market. A lot of the electricity in the UK is produced by gas power stations, and as a result when gas prices go up, so does electricity. As a supplier, one of our limiting factors is the cost of the energy we buy, if our costs go up then we have to put our prices up.
If you want to read more please have a look at this blog:
@markdeakin I’m sorry you feel that way about us, however, we’re equally keen to reduce our prices when wholesale prices decrease. WE’ve reduced our prices 7 times since we’ve been around and increased them 4 times (3 times this year…)
Thanks for the reply @FreddieB, but I don’t understand what you mean by “guarantee renewable electricity” if my electricity is just bought from the wholesale market. How is this any different to any other supplier? I switched because Bulb promised greener credentials than others and purchased a much higher proportion (even 100%) of electricity from renewables.
Thanks for the reply @FreddieB, but I don't understand what you mean by "guarantee renewable electricity" if my electricity is just bought from the wholesale market. How is this any different to any other supplier? I switched because Bulb promised greener credentials than others and purchased a much higher proportion (even 100%) of electricity from renewables.
Quite simply, Bulb have to demonstrate the amount of electrical energy they supply to their customers matches the amount bought from a green energy producer (the wholesaler). Bulb have to purchase a certificate to meet the requirement of a green energy supplier. It is explained in more detail on this page: https://bulb.co.uk/energy/
@PLS99 As energy is a commodity that is traded at a single price, even if you have 100% renewable energy or 100% fossil fuel energy the effect that the cost of wholesale energy rising is the same on your energy price. If you want to read more please have a look at this blog http://bulb.co.uk/blog/energy-price-watch-changes-to-our-energy-prices-sept
Just because we buy your energy on the wholesale market doesn’t mean that it isn’t renewable. When you switch to Bulb, we make sure that for every unit of electricity you use, a unit is produced and put on the grid by a renewable source.
Thanks Ben. It’s fallen into place for me now! I guess the key point is that the renewable suppliers will put their prices up as the market rises (the ‘they need to make a profit too’ point) so the price of renewables goes up.