The Government advised all electric companies will credit accounts with £200 in view of a 5 year £40 levy, as per Martin Lewis Money Saving Expert, when will Bulb apply this & how?
Due to be applied in October, so not for some time yet. The £200 will be applied to each account so that you’re £200 in credit.
As for me, I do not want to be tied into a five year payback that I didn’t agree to and don’t know the full terms and conditions of. The FCA says they can’t adjudicate as it won’t fall under their control.
My understanding is that nobody can refuse it. It’ll “just happen”!!
The government has announced measures to help people with the rising cost of living, including a £200 loan on energy bills in October, Council Tax rebates, and allowing more people to apply for the Warm Home Discount. We’re working through what this means for Bulb members and will provide an update soon
@Carl_at_Bulb Can you please make sure that update clarifies that it isn’t a discount, but a loan that everybody will have to accept and pay back.
Sorry about the mistake there. I have updated Carls original post to reflect this.
As he copied and pasted from the Bulb Blog, it’d be a good idea to update that too.
Thanks for bringing that to our attention, you have a close eye for detail.
I’ve raised this with the relevant team and hopefully we can get this amended quickly to reflect that the £200 from the government is a loan rather than a discount.