Bulb vs. Octopus import tariffs

Screwdriva

I was surprised to see such a substantial difference in “green” tariffs! I’ll let the screen grabs do the talking but the post code and annual usage are the same. 

Safe to say, I won’t be switching to Octopus till things calm down. 

Brie

No idea about Octopus but Bulb is supposedly going up in price by 13% next month.  (sorry - can't see your screen grabs on this pc so not sure what they are showing)

QrizB

Bulb only has one tariff, it's a standard variable and so it's subject to the Ofgem cap and Bulb currently lose money on every new customer. This is, I guess, why Bulb's CEO has been agitating for Ofgem to raise the cap early (or for Gov't to intervene in some way).

Octopus, like most of the other big suppliers, have stopped offering their variable tariff to new customers for exactly that reason. The tariffs they do offer are fixed and not subject to the cap, so they better reflect the actual cost of energy at the moment.

@Screwdriva who are you with currently?

Screwdriva

@Screwdriva who are you with currently?

I've been with Bulb for 4 years but was planning to switch to Octopus for their outgoing agile plan. I'll likely review this again in March of next year.

Fascinating stuff. In essence, Bulb's tariff is fixed at a lower rate. This is probably why they've suspended their referral bonus. I've made thousands switching people over to Bulb!

One thing to note is that Bulb had shared that they won't be raising their tariff again for the next few months, ahead of the September energy "crisis".

[Deleted User]

Are you hoping that Bulb will still be trading in March 2022? Reports are that they have made financial information available to a number of potential lenders/buyers including Octopus Energy. 

fimacdoodle

It is all changing so fast. price hikes everywhere.
How do we know bulb and 'octopussy' will not collapse next week........
I am looking for a better deal - not much around......

Screwdriva

Dolor said:

Are you hoping that Bulb will still be trading in March 2022? Reports are that they have made financial information available to a number of potential lenders/buyers including Octopus Energy. 

I've read those same reports. They actually didn't share with Octopus for competition reasons, despite the rumours. I think they'll be harder to sink than the <500K customer companies.

EVandPV

Octopus are apparently worth more than British Gas now after Al Gore's investment.

A clean energy investment fund run by former US vice-president Al Gore has bought a 13% stake in British energy company Octopus in a deal worth £438m.

It means the supplier is now valued at £3.36bn, which is more than the owner of British Gas, Centrica, at £3.28bn.

https://www.bbc.co.uk/news/business-58713503

They're also taking on 580,000 Avro customers.

https://www.thisismoney.co.uk/money/bills/article-10030177/Avro-Energy-customers-moved-Octopus-need-know.html

[Deleted User]

EVandPV said:

Octopus are apparently worth more than British Gas now after Al Gore's investment.

A clean energy investment fund run by former US vice-president Al Gore has bought a 13% stake in British energy company Octopus in a deal worth £438m.

It means the supplier is now valued at £3.36bn, which is more than the owner of British Gas, Centrica, at £3.28bn.

https://www.bbc.co.uk/news/business-58713503

They're also taking on 580,000 Avro customers.

https://www.thisismoney.co.uk/money/bills/article-10030177/Avro-Energy-customers-moved-Octopus-need-know.html

https://www.thisismoney.co.uk/money/markets/article-10052115/Octopus-boss-warns-time-big-energy-firm-fails-step-in.html