Bulb - credit question

Mrs_F_2017

Hello all, 

Just wanted some opinions please!
 
Am with Bulb, whom I’m aware are in special administration. My meter readings are all up to date and regularly submitted so I’m confident managing my usage/account.

My questions is - am trying to plan for next increase and winter usage, so my current direct debit covers my monthly usage and adds approximately £40 a month based on April’s usage to the credit pot (possibly more over the summer months).

I know credit is ‘protected’ so not concerned about loosing it - but wondering if a competitive switch comes up - am I better saving my credit separately so I don’t have to wait for the credit to be switched suppliers? I.e keeping the £40 a month in my bank! 

My usage for the last year was electric 3200 kWh & gas 5500 kWh for context. 

Possibly I’m overthinking it! 

Thanks 
Mrs F

Alnat1

When you switch suppliers the credit would be returned to you, not send on to the new supplier, although this can take a few weeks after the account is closed.

Mrs_F_2017

Ok thank you. I had seen threads on here with people waiting months for their credit so wasn’t sure what the process was. 

MWT

If you have the discipline to save the money in your own account then that is always going to be the best option.

Mrs_F_2017

Thank you. I will look at my numbers in more detail and decide which route to take. 

jbuchanangb

When I closed my Bulb account 2 years ago I had a debit balance which they collected fairly promptly. When I closed my SSE account recently I received my credit refund about 2 weeks after the final bill, which was itself about 4 weeks after the end of the supply contract. I've never had a problem recovering credit balances from energy suppliers when I have switched suppliers. Sometimes they just do it, sometimes they need prompting. Neon Reef was in the last category.

Mstty

Just make sure you keep all statements safe showing your credit and make sure the readings on them are actual not estimates 👍

Mrs_F_2017

Thank you.

@Mstty definitely all actual readings not estimates. I have also screen shot my last 13 months of meter readings (since smart meter installed)  from bulb and have started a spreadsheet for future use. 

All statements downloaded and saved. 

I have also downloaded Bright which someone mentioned on here and that is a useful extra tool. 

Mstty

Mrs_F_2017 said:

Thank you.

@Mstty definitely all actual readings not estimates. I have also screen shot my last 13 months of meter readings (since smart meter installed)  from bulb and have started a spreadsheet for future use. 

All statements downloaded and saved. 

I have also downloaded Bright which someone mentioned on here and that is a useful extra tool. 

Excellent !!!

Yes we use Bright it has helped us reduce our energy costs and set a weekly target. 

Mrs_F_2017

@Mstty bright is really good isn’t it.

I had started to reduce usage anyway - not that we were ever particularly high. Last May we used 300 kWh of electricity- so far this month we’re on 102 kWh so should be under half of last year by the end of the month.

I’m a bit competitive so it’s sadly enjoyable for me 🤣

Mstty

🤣🤣🤣 us too we have to beat last year and we have a spreadsheet seeing how it could affect our direct debits next year if we stay on course.....

Personally I think it's a great time to get kids and the whole family on the energy saving train..

Well done you👍👍👍