3 years on...
Three years on (and two babies) our family has effectively doubled but my monthly bills have consistently stayed lower than they were with E-on. I can’t argue with that! However, it is a variable rate and there have been price rises (there were two in one year – ouch!). This was due to huge rises in whole sale costs and all other energy companies seemed to raise their prices too so I don’t think I could have dodged that one.
Bulb used to give you at least 60 days’ notice when price rises are in the pipeline but that has now changed to the minimum 30 days that Ofgem require. Bulb say that “Decreasing the notice period will reduce the impact of future price rises and give members the time they need to work out what’s best for them.” Although 60 days’ notice seems like a ‘nice to have’, the problem Bulb and their members had was that if wholesale prices increased, Bulb would announce their price increases 30 days before other energy companies. For that first month, they would seem more expensive than the others who would likely increase their prices a month later anyway. 30 days is still enough time to make a comparison and switch if needed.
Bulb say, “the price you pay for energy reflects the true cost of supplying energy”. That means they promise to lower their tariff if their costs go down. Sure enough, they have.
Annual cost for an Ofgem medium energy user on a standard dual-fuel tariff in the London region. Wholesale energy costs make up around 40% of your bill. (Source: Bulb data)
From February to June 2019, wholesale energy costs remained low but were more volatile. Bulb have kept their price stable.
What’s great is that as a customer, you feel like Bulb are very upfront about costs and price changes. They even have a dedicated blog category that includes articles that explain – in depth – the processes and reasoning for price changes.
"you feel like Bulb are very upfront about costs and price changes"
Just knowing that the tariff is a fair, low tariff is good enough for me. Yes, I get emails from comparison websites telling me I could shave a few pounds off my monthly bill with a different supplier. But with all things considered, I’m very happy sticking with Bulb (for now anyway).
I think Bulb is a great renewable energy company. One of the good guys in the market with 5-star customer service. If you sign up using my link, we both get £50. Get a quote first and see if Bulb is right for you.