We posted a blog post this morning explaining why we are increasing our tariff by £2 per month.
As we noted in the post, we’re increasing our tariff for the typical home by 2.8%. A typical home will see their annual tariff increase from £855 to £879 - a rise of £2 per month. Existing members will stay on their current rates for 60 days until 28th April. New members will start on our new rates straight away.
Increased wholesale and policy costs have driven the price rise, but Bulb has absorbed much of these increased costs.
How did we do in explaining this?
Here’s how we’ve kept members in the loop:
- We sent an email to all of our members on the 18th of December explaining that we might have to increase our prices
- We let every new member since then know that we might increase our prices
- We’ve given all our members 60 days’ notice from today. This is double what Ofgem recommends
- We write a wholesale market update every three months so that everyone can keep on top of energy news
Is there anything else that we could do to make price increases less painful in future?