Green energy supplier Bulb is raising the price of its only tariff, with all of its 300,000 existing customers hit by the rise in April.
The Vari-Fair tariff – Bulb’s standard and only tariff, with a variable rate – will rise by 2.8% for new customers from today (Tuesday 27 February). Existing customers – and those already in the process of switching to Bulb – will see the same price rise on 28 April.
Although Bulb’s new rate is still reasonably competitive and it has strong customer service feedback, many can still switch and save – you can leave penalty-free as Bulb doesn’t have any exit fees. To find the best deal for you, do a full market comparison using our free Cheap Energy Club.
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I am a Bulb customer – how am I affected?
All of Bulb’s 300,000 customers are on its Vari-Fair tariff, so you will be impacted by the price increase. 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 28 April existing Bulb customers will see a 2.8% increase, which means the typical household dual fuel bill will go up by an average £24/year, to £879/year.
When the price rise comes into effect it’s worth using our free Cheap Energy Club to check you’re still on the right deal for you. Bulb’s new average price will be £72/year more than the market’s cheapest currently, so you may be able to switch and save – and you won’t have to pay any exit fees to leave.
Before you do switch though it’s worth looking at other factors too. Bulb may still be a good bet for many – it offers 100% renewable electricity and a very good track record of customer service, with 95% rating it ‘great’ in our last poll.
Why does Bulb say prices are going up?
Bulb says: “Since July 2017, wholesale energy costs have increased by around 11%. Government policy costs have also increased.
“These combined have added £54 to the annual energy bill of a typical home. Weve managed to pass on a significantly lower price increase to members by reducing our own costs by £30.”