A great deal on Bulb Energy

mrkb · November 2021

Supply will always continue as its a national grid of pipes and cables that supply for electricity and gas - a energy provider going bust will never stop your personal home supply!

Kittyfrisk · November 2021

^ I meant from Bulb...

ArchtopDave · November 2021

Forgot to say.... Will the last person to leave the room please take the Bulb out. (I've got my raincoat on already!)

relic245 · November 2021

Kittyfrisk said:

^ Apparently it will effectively be taxpayer subsidised/ nationalised to stop it failing, at least in the short term.
Supply will continue though.

One of my clients is an energy company (who I shouldn't mention for contractual reasons) has been saying for 5 years that many of the cheap deal companies, including the big ones like bulb, would go out of business. That was way before any energy crisis.

Apparently many have been selling at or even below cost in an attempt to buy market share. In some ways it's not dissimilar to the sub prime mortgages in the 2008 crash. Buy customers at any cost without a thought for how it could all go horribly wrong.

At least this time it's not going to crash the economy. What it will do in the short term is leave millions of customers paying more than they were doing previously. They thought that they were paying a fair price when in fact they weren't. Very few energy companies are taking on new customers at the moment, at the last count it was only 3, and with the other ones that have gone bust people have ended up on significantly higher rates than previously.

Offset · November 2021

We're Bulb customers. But what a clusterfuck all round.

ICBM · November 2021

Me also - for ethical reasons not price, as they claimed to get their energy from renewable sources. Not quite sure how that works in a national grid system which has input from non-renewable sources, but there you go... I felt like making a point anyway. I'll sit tight and see what happens now.

TTBZ · November 2021

Likewise we were with Bulb, was going to switch to Octopus a few months ago and wish we did now!

Lebarque · November 2021

Another Bulber here. Safety in numbers.

Nitefly · November 2021

ICBM said:

Me also - for ethical reasons not price, as they claimed to get their energy from renewable sources. Not quite sure how that works in a national grid system which has input from non-renewable sources, but there you go... I felt like making a point anyway. I'll sit tight and see what happens now.

Even e.on claim that...

Nitefly · November 2021

In December 2018, Nitefly said:

DiscoStu said:

joneve said:

bum. my current plan with eon doesn't expire til the 25th of Jan. Otherwise, I'd be all over this!

@joneve fear not, dear boy!
My link still gives £50 credit both ways, and the same terms for anyone who switches.
Bulb will pay any exit fees you may have for finishing early plus no minimum contract time so you can leave whenever you want if it isn't for you.
Win/win.

How can this work? £50 for you, £50 for me, pay my exit fee AND charge me less per month?

I don't think they'll be around for long...

Well, it lasted longer than I thought it would, but still...

ewal · November 2021

Bulb were perhaps the worst company Ive ever experienced as a customer. I used to feel sorry for their staff as they were clearly being mismanaged and working with extremely poor systems and processes. I received around £200 in compensation from them for various failings after ombudsman found in my favour.

Can't say I'm surprised at this news. So far so good with Octopus. Glad I switched before the energy market hit the wall

ICBM · November 2021

ewal said:

Bulb were perhaps the worst company Ive ever experienced as a customer.

Virgin Money (thankfully not my personal bank, but one of the people I work for is using them and I’ve seen the horror story) and Vodafone are the top of that list for me.

Different thread probably!

roundthebend · November 2021

ICBM said:

Me also - for ethical reasons not price, as they claimed to get their energy from renewable sources. Not quite sure how that works in a national grid system which has input from non-renewable sources, but there you go... I felt like making a point anyway. I'll sit tight and see what happens now.

I believe it's managed at the wholesale level. Obviously the electricity you consume (whatever that evens means) cannot be guaranteed to come from any particular source, but the way it is paid for is audited. If every UK consumer signed up to suppliers who "only supply 100% renewable" then the fossil fuel generation companies will not receive any money. I believe the wholesale unit cost is fixed regardless of the generation. It's complicated, I'm sure, but that's good enough for me.

Bulb have been pretty good for me, except the install of a smart meter which took a long time to happen because our gas meter is fixed at ground level. They eventually booked a slot when the installer would have the correct tools.....and when he turned up he couldn't do it so we only got our electricity meter installed.

I'd love to switch to a provider with an EV tariff, but I don't think it's possible right now. Or wise.

wibble · November 2021

roundthebend said:

ICBM said:

Me also - for ethical reasons not price, as they claimed to get their energy from renewable sources. Not quite sure how that works in a national grid system which has input from non-renewable sources, but there you go... I felt like making a point anyway. I'll sit tight and see what happens now.

I believe it's managed at the wholesale level. Obviously the electricity you consume (whatever that evens means) cannot be guaranteed to come from any particular source, but the way it is paid for is audited. If every UK consumer signed up to suppliers who "only supply 100% renewable" then the fossil fuel generation companies will not receive any money. I believe the wholesale unit cost is fixed regardless of the generation. It's complicated, I'm sure, but that's good enough for me.

Bulb have been pretty good for me, except the install of a smart meter which took a long time to happen because our gas meter is fixed at ground level. They eventually booked a slot when the installer would have the correct tools.....and when he turned up he couldn't do it so we only got our electricity meter installed.

I'd love to switch to a provider with an EV tariff, but I don't think it's possible right now. Or wise.

I switched to Octopus to eventually go on their EV tarrif (Octopus Go https://octopus.energy/go/ ) 5p/kWh between 00:30 - 04:30 every night. I'm just waiting for delivery of the car before I can switch from one of their other fixed tarrifs.

Referral link here (we get £50 each)

https://share.octopus.energy/storm-louse-315

DiscoStu · November 2021

Bulb has been really good for us; much cheaper bills and no hassles with meter readings.
It's crap that they've went under but at least I managed to save some money on the gas and leccy while they lasted.

Snags · November 2021

Hey ho. Their admin has always been a bit comical for us. Probably should have switched to Octopus a while ago. probably will when the dust settles.

chillidoggy · November 2021

I wouldn’t get too excited about Octopus just yet. I still haven’t had any final Avro invoices from them, and am still paying an Avro DD.

Rich31k · November 2021

chillidoggy said:

I wouldn’t get too excited about Octopus just yet. I still haven’t had any final Avro invoices from them, and am still paying an Avro DD.

Similar for me going from Igloo to E.On. Last email we had said they were going to “try” to agree a deal to bring customer balances from Igloo.

ArchtopDave · November 2021

It shows how far up the creek Bulb were. The government has set aside £1.7 Billion to cover the shortfall on cost of supplying Bulb customers with energy for the rest of this financial year.
Also it's worth pointing out that Ofgem will announce the next revision of the Energy Cap in February, which time wise is getting to be no distance at all into the future, for implementation in April. I've read that, at current wholesale energy prices, the break even point for customers in in the area of £1,900 to £2,000.

bertie · November 2021

^^

https://www.bbc.co.uk/news/business-59409595

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