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Bulb
Comments
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I m with Bulb . They have nt sent me one..Last I heard is that they were struggling and likely to go bust.. I ll be leaving them the instant they raise their rates which they are predicted to be doing very shortly.. Very kind of them to pay my £60 exit fees from Eon last year, which is probably why they are struggling with their generous referral fees and payments of exit fees0
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The email was from Bulb yesterday,due to them reaching 1,000000 customers their are choosing certain areas to offer £100 referrals.I am included in this from the 24th to the 31st of January.I have been with Bulb for only 4 months.So quite pleased with that.0
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They were reporting 100,000 customers a year ago. They ve done well if they ve added a nought to make a million customers. If that is correct they are probably the top supplier after the big 6 ..but will they last ? They are losing me at the next rise as they are variable only tariffs.0
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They were reporting 100,000 customers a year ago. They ve done well if they ve added a nought to make a million customers. If that is correct they are probably the top supplier after the big 6 ..but will they last ? They are losing me at the next rise as they are variable only tariffs.
To be fair, I think I saw a report that said they had about 830,000 customers about a month ago
But anyone can attract customers by thowing money at them.. but its just vanity
https://forums.moneysavingexpert.com/discussion/5948047/bulb-energy-reports-huge-23million-annual-loss-and-late0 -
I m with Bulb . They have nt sent me one..Last I heard is that they were struggling and likely to go bust.
I don't know where you heard that, but it doesn't seem to be true.
According to Bulb, they raised £60 million in new capital over the summer and its common for new firms to make losses in the first few years as they gain customers (almost all businesses do)
There are also details of their customer numbers etc at https://bulb.co.uk/blog/annual-update-for-members-20180 -
They were reporting 100,000 customers a year ago. They ve done well if they ve added a nought to make a million customers. If that is correct they are probably the top supplier after the big 6 ..but will they last ? They are losing me at the next rise as they are variable only tariffs.
There are several firms with a similar market share to Bulb. The largest after the big 6 is Ovo.
Have a look at:
https://www.ofgem.gov.uk/data-portal/electricity-supply-market-shares-company-domestic-gb
Since that was produced, Ovo has taken over both the Spark and EE customer bases.0 -
Their latest wholesale update says prices have dropped and if they stay low they'll lower their prices. bulb.co.uk/blog/wholesale-energy-market-update-december
If someone's happy to give them £60m they must be doing something right.0 -
I heard it on here last week 9 th Jan..I don't know where you heard that, but it doesn't seem to be true.
According to Bulb, they raised £60 million in new capital over the summer and its common for new firms to make losses in the first few years as they gain customers (almost all businesses do)
There are also details of their customer numbers etc at https://bulb.co.uk/blog/annual-update-for-members-2018
Search for the thread "Bulb Energy reports HUGE £23 million+ annual loss! and late0 -
Yeah I've seen all that, seems like hyperbole to me.
You have to spend money to make money and growing by that many members is going to cost a lot. Companies like Netflix do the same.
Imagine they grew by a million again, if they made the aimed for £50 profit per member they'd have huge losses again even though their actual product is profitable.
Guess we'll wait and see but good to see that real competition is coming to the market.0 -
The specific comment being questioned was that "they were struggling and likely to go bust". Despite the reported loss, this is unlikely to be the case, especially as they have raised almost three times that figure in new capital.I heard it on here last week 9 th Jan..
Search for the thread "Bulb Energy reports HUGE £23 million+ annual loss! and late
Eventually they will need to hike their prices, but for the moment they are cheap, and somewhat better capitalised than other cheap providers.0
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