Lowering bills, cutting carbon
Yesterday, Bulb Energy announced they have been placed into a Special Administration Regime. If you are a customer of Bulb then your energy supply and any credit balances are protected.
We understand this is a worrying time for everyone, and hope this blog can provide some reassurance and guidance, as well as answering some of your questions.
Bulb is now being run by a company appointed by the government, known as an administrator. Under normal circumstances, Bulb’s customers would be transferred to a new supplier within weeks. However, because of Bulb’s size (it now has around 1.7m customers), this isn’t possible straight away. Instead, the administrator will continue to run Bulb as normal, until a solution is found.
The short answer is nothing. All customers will continue to be served by Bulb and your credits and balances will be protected. Because special administrators will be brought in to run Bulb, as a customer nothing will change for you. Your energy will be provided by Bulb and you will still receive bills from them.
You are free to look for a new supplier, however the current advice is to stay with Bulb. Your tariff with Bulb is protected until April by Ofgem’s price cap. At the moment, the cheapest alternative deals on the market are hundreds of pounds a year more expensive than the price cap for a typical home.
In the short term, your bills will remain the same. Bulb only offers one tariff – which is currently capped in line with the price cap. The price cap will be increasing in April – we’ll keep you posted on the right time to switch.
While Bulb customer services are continuing to operate, they are expecting a large number of calls and emails over the coming weeks, so it is recommended that you only contact them if you have an energy emergency.
Bulb have released a statement on their website, which you can read here.
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