Yet Another Price Increase?

Is anyone else considering switching supplier after today’s warning from Bulb to expect their THIRD price increase this year in November? I’ve switched to Pure Planet tonight which is currently £70 cheaper pa for me. A shame because Bulb’s simple proposition and straightforward service are great, but I expect businesses to absorb some of their increased costs in reduced margins or efficiency improvements, not just pass them through to us consumers.

Where did you see the warning about a third price increase?

The warning is in email to customers of a possible increase in November. The market is high and volatile at the moment, if production increases to cover the reserves needed for future stores, it may, repeat may not happen. The markets are gambling big on energy, buy now pay back later. This is the reverse of shorting, it’s buy now whilst market is rising then hold, it’s big money that raised the wholesale price. We as always will suffer the costs, welcome to Capitalism.

The warning is in email to customers of a possible increase in November. The market is high and volatile at the moment, if production increases to cover the reserves needed for future stores, it may, repeat may not happen. The markets are gambling big on energy, buy now pay back later. This is the reverse of shorting, it's buy now whilst market is rising then hold, it's big money that raised the wholesale price. We as always will suffer the costs, welcome to Capitalism.

Thanks, my copy of the email must be in the queue to be sent out.

Time will tell but if Bulb are increasing again in Nov I suspect the big 6 and others will follow suit.

@Band1973 The email and blog you might have seen is to inform you that there is a risk of us having to increase our prices in November. Prices of electricity and gas have increased by 5% and you should see lots of suppliers will have to increase their prices too. British Gas have announced an increase this week for example.

We want to be completely open about when we may have to increase prices and therefore we send out these regular updates, to keep you informed.

If wholesale costs decrease before November then we wouldn’t have to increase our prices, so it is completely dependent on how wholesale costs change.

We are committed to passing savings onto our members when we can and historically we have still had more price decreases than increases :slight_smile:

Please see our blog for more info: https://bulb.co.uk/blog/wholesale-energy-market-update-august