MSE News: Bulb to increase energy prices by 5.1%

MSE_Andrew

Bulb is raising the price of its only tariff, with all 450,000 existing customers to be hit by the rise in August...

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'Bulb to increase energy prices by 5.1%'

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[Deleted User]

Just as expected as Bulb have been saying for the past few months that a review was on the way AND every other supplier has raised their prices due to increases in wholesale price and Government mandated initiatives.

System

This is the second increase by Bulb this year:

Quote: In December, we said we might need to increase our prices. Sadly, wholesale energy costs have stayed high, which means we will need to increase prices by 2.8% for a typical home.

These new prices will take effect from 28 April. No one likes a price increase, so we're giving you 60 days' notice to mull things over. Unquote

My man maths suggest that if my annual bill 6 months ago was £100: then in April this rose to £102.8 and now it would be £108.04. This equates to an overall 8.04% increase this year.

[Deleted User]

Hengus wrote: »

My man maths suggest that if my annual bill 6 months ago was £100: then in April this rose to £102.8 and now it would be £108.04. This equates to an overall 8.04% increase this year.

So far, still another 5 full months left in the year for more increases

Euphoria1z

I signed up to them 2 days ago and got the price increase email today!


I will probably continue and join them as I understand its a standard variable tariff with no exit fees so I will check prices in another few months time- I am getting cash back though via cheap energy club, does any one know if I leave after getting cash back would i have to pay it back?

[Deleted User]

No, once cashback has been paid, it is yours to keep.
However you would have got more cashback if you had used a Bulb Referral link instead of the CEC link to join.

Cpl_Jones

I've been informed my direct debit, currently £86/mth, will increase by £7.21. That's more than 5.1%

System

Cpl_Jones wrote: »

I've been informed my direct debit, currently £86/mth, will increase by £7.21. That's more than 5.1%

Your Direct Debit is meaningless in the context of tariff rises. Tariff rates vary depending on postcode: the 5.1% quoted will be an average. You need to compare the tariff price now with the tariff price future to work out the % increase. DDs are only payments made on account from which charges are deducted.

r2015

Thank goodness I saw the light and left them after getting £200 cashback and went to SG fixed where I am now paying less than I would be if I had stayed with them.


I can see all the little suppliers pricing themselves out of the market.

redux

Can it be that only a couple of months ago Bulb was highly featured in an MSE Big Switch promotion?

At the moment, 6 of the cheapest 7 tariffs in this supply area are variable tariffs.

I wonder how long before they rise above one year fixes taken out 4 to 2 months ago.

Edit: Bulb is in 26th place now. I'm not sure whether the mentioned increase is already built into the CEC projection.

drphila

My increase works out at 8.2%