Bulb or Powershop - ex Economy Energy now Ovo Customer

Mumum

Hello

As the heading suggests, I’m an ex Economy Energy customer looking to move from Ovo as their prices are too high.
It is between Bulb (variable) and Powershop (fixed for 12 months but you can leave anytime).

Annually, Bulb comes out as £22 cheaper but I would also gain £50 from their refer a friend scheme (I guess with the potential to earn further £50s making my own referrals, though I’m not sure I know that many people for it to be profitable).

As it stands, therefore, I would be £72 better off joining Bulb but (and Bulb can’t/won’t answer this as I’ve phoned them) I’m trying to get an idea of the likelihood of Bulb’s potential price increases costing me more than the £72 I would save with them, before deciding which provider to go with. Does anyone have any experience of ending up paying a lot more than anticipated with Bulb due to their variable rate?

Thank you in advance!

Mumum

Ps I should have mentioned I have electricity only (economy 7), no gas. Thanks.

Mumum

Thanks Rebecca, unfortunately I already agreed with someone else to use their link if I chose to go with Bulb or else I would. They are a good supplier, yes, but so are Powershop. Do you mind giving me an idea of how much in monetary terms you ended up paying over your original quote, based on the tariff varying (before the £50s you made)? Thank you.

Brocka

No worries, Compared to what I was paying with other companies im waying nearly £20 less a month, Bulb quotes me £85 a month and im in a three bed bungalow and thats based on my previous bills, However at present I was paying £114 with Npower, then £107 with OVO and thats just over the winter. Ive never paid anything as low I use medical equipment daily and my gas is always on.

They havent changed my amount yet, but if anyting looking at meter reads its likely to go down.

Mumum

Thanks for that Rebecca, long may it continue for you. You’ve convinced me, I’m going to sign up with them. Best of luck with your referrals.

phillw

Mumum wrote: »

Do you mind giving me an idea of how much in monetary terms you ended up paying over your original quote, based on the tariff varying (before the £50s you made)?

As it's impossible to predict how your energy use next year will compare to last year and what will happen to energy prices, I wouldn't worry too much.

If you're on a variable tariff then be on the look out for price rises, bulb increased three times last year but who knows what will happen this year.

Mumum

Thank you Phill.

Mumum

Rebecca, please could you private message me. I can’t work out how to. Thanks.

Mumum

Not to worry Rebecca, I got my other link to work now.

Thomas_Edison

With the amount prices increased last year and the warm winter, prices are now beginning to fall.

Bulb have recently dropped their gas prices so a variable tariff is looking very safe in the short term, nobody knows long term.

https://www.theguardian.com/business/2019/feb/28/bulb-to-lower-gas-prices-for-1-million-customers

UK gas prices have fallen by 40% since the start of the quarter from -
https://af.reuters.com/article/commoditiesNews/idAFL8N21G2GQ

Mumum

Thank you Thomas, love the name!