I’m a Bulb customer – how am I affected?
The price rise will impact all of Bulb’s customers, though it has only announced new pricing for those with a credit meter.
All variable tariffs, as the name suggests, are subject to price changes, though energy providers must give customers at least 30 days’ notice. In this case, Bulb has provided customers with 60 days’ notice.
On 11 November, existing Bulb customers with a credit meter will see an 11.1% increase, which means the typical household gas & elec bill will go up by an average £102/yr, to £1,025/yr. Individually, gas prices are rising by 19% – typically £86/yr – and electricity prices by 3.2%, or £16/yr on average.
Bulb’s new average price will be £166/yr more than the market’s current cheapest and £87/yr more than the cheapest one-year fixed tariff. Make sure you use our free Cheap Energy Club to check you’re still on the right deal for you.
If you’re on prepay, prices are set to rise by £84/yr to £1,061/yr for a typical dual-fuel home – an increase of 8.6%.
Bulb has a good track record of customer service, with 90% rating it ‘great’ in our most recent poll. If you’d like to switch to a provider with a similar level of service, rather than just the cheapest, you can use our ‘superb‘ service Cheap Energy Club filter.
What does Bulb say?
Bulb’s co-founder Hayden Wood said: “Bulb is committed to supplying energy at a fair price. After this change, we will still be £196 cheaper than the average big six standard tariff for the typical home.
“We have one tariff for all our members [on credit meters], which reflects the true cost of energy. When the wholesale cost of supplying energy changes, so does our tariff. We will drop prices when wholesale costs fall by £20 a year for an average home.
“We will continue on our mission to deliver simpler, cheaper, greener energy for all our members.”
In a blog post published today, Bulb said wholesale energy costs had gone up substantially since June 2018. These costs are now 15% higher than they were just last month, it said.
This story was updated on Wednesday 12 September to include information on Bulb’s prepay price increase.