Bulb energy, wait or switch?

jdvhsully

As the title says really. 

We have been with bulb energy for a few years, and am aware that they are in administration, so do we stick with them as per Martin’s suggestion when they went into administration or do we switch?
We currently are in credit so would want that back if we did switch.

QrizB

Personally I'd wait. Bulb are (in effect) being run by accountants on behalf og the UK Government so they're not going anywhere.

wild666

Bulb only have one rate and that's the SVR as far as I know so they would be losing money every day. I was with them for nearly three years but jumped to Avro when they announced their increase in December 2020 sadly Avro went under in September 2021.  

WillPS

jdvhsully said:

As the title says really. 

We have been with bulb energy for a few years, and am aware that they are in administration, so do we stick with them as per Martin’s suggestion when they went into administration or do we switch?
We currently are in credit so would want that back if we did switch.

Where would you switch to? The only deals I'd even consider fixing with are ones which suppliers like So Energy and British Gas are sending out to existing customers who's deals are coming to an end - and these aren't no brainers as they're more than what the cap will be from April.

As soon as there is a good open market fix (with no/minimal exit fee), I'd go for it. I suspect we will be waiting a while though.

There are no circumstances where you will lose your credit, so don't worry about that.

[Deleted User]

In my view, there is absolutely no risk of Bulb going bust as to all intents and purposes it has been Nationalised. If Bulb is to be shutdown then there will no doubt be a sale of assets which will include the customer base. It is reasonable to expect that this would be a more orderly transition to a new supplier than the SoLR process. None of the above is reason to stay if a cheaper tariff can be found. Credit balances are protected come what may.