The utility, which only has a variable tariff for households paying by direct debit and a tariff for households with prepayment meters, will increase prices for both starting April 19 – affecting all of its 1.7 million customers.
However, bulb prices are not rising to the level of Energy Regulatory Agency Ofgem’s new price cap of £ 1,138 / yr for standard loan customers and £ 1,156 / yr for prepaid customers, as we’ve seen most major providers.
Most of them can still survive the hikes by changing. See if you can save with a full market comparison through our free Cheap Energy Club.
I’m with Bulb – how will my prices change?
If you’re with Bulb, here’s how much your bills will go up on April 19th. What you pay, of course, depends on where you live and how much energy you use. The following figures show a typical energy consumer:
- If you pay by direct debit, your plan increases by £ 91 / year. Bulb’s Vari-Fair tariff is currently £ 966 / year with typical usage but will increase by £ 91 to £ 1,057 / year.
- If you are a prepaid customer the price goes up by £ 137 / year. Bulb’s Vari-Fair prepayment plan is currently £ 1,010 / year with typical usage but will increase by £ 137 to £ 1,147 / year.
Bulb blames the price hike for the increase in wholesale energy costs (what suppliers pay for gas and electricity), which have increased 31% since September 2020.
Check NOW if you can switch and save
While Bulb’s tariff is still £ 81 / year cheaper than Ofgem’s energy cap when paying by direct debit and £ 9 less than the cap on prepayment plans, you can still switch and save.
The cheapest rate for direct debit users is on average £ 154 / year cheaper than Bulb’s new price for typical usage. If you pay in advance, the cheapest offer is usually £ 163 / year cheaper than the new lamp tariff. Do a full comparison and see if you can save with our Cheap Energy Club.
Are you having trouble paying your bill? There is a lot of additional help available right now
Due to the pandemic, Ofgem has stepped up protection for energy customers and introduced new rules to help those struggling to pay their bills.
Most importantly, your supply is not interrupted. Standard credit counter interruptions have been completely suspended, and new rules have been introduced to ensure that prepay customers receive an emergency or additional credit to keep the lights on. Further information can be found in our Energy Coronavirus Help Center or on the Ofgem website. There you will find out what to do if you are having trouble paying.
What does Bulb say?
A spokesman for Bulb said, “We wanted to protect our members’ prices over the winter, and we have held back that increase for as long as possible. We pass on cost savings when energy costs go down, that is, when they fall.” drops by more than £ 20 / year, as do our prices. ”