From June 21, 2021, the energy provider will increase the price of its only tariff for households that pay by direct debit. This variable tariff is called “Vari-Fair”. If you prepay your energy your prices will NOT change.
It’s Bulb’s second price hike in recent months, after the supplier announced a price hike of £ 91 a year back in March.
However, most of them can survive the hikes by switching. 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 work with Bulb, here’s how much your bills will grow from June 21, 2021. Of course, what you pay for 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 £ 69 / year. Bulb’s Vari-Fair tariff is currently £ 1,057 / year with typical usage but will increase by £ 69 to £ 1,126 / year.
- If you are a prepaid customer, Your price won’t change. Bulb’s Vari-Fair prepayment plan remains at £ 1,147 / year for typical use.
Bulb blames the price hike for the increase in wholesale energy costs (what suppliers pay for gas and electricity), which have increased 29% since March.
Check NOW if you can switch and save
Bulb’s new price is now just an average of £ 12 / year below Ofgem’s price cap when paying by direct debit, but you can still save by switching. The cheapest rate for direct debit users is on average £ 281 / year cheaper than Bulb’s new price for typical usage. Since Bulb’s only tariff is a variable tariff, there is no redemption fee when you switch.
While the prepayment price doesn’t change, most can still switch and save. The cheapest deal is usually £ 117 / year cheaper than Bulb’s prepaid plan. 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 Coronavirus Energy Help or on the Ofgem website. There you will find out what to do if you are having trouble paying.
What does Bulb say?
A Bulb spokesman said: “Wholesale energy prices have doubled since that time last year, and are up a third since March, so we need to raise our prices for a typical member by about £ 1.33 per week. They still will lie underneath. ” the price cap. We pass on cost savings when energy supply costs fall. So if they drop more than £ 20 a year, so will our prices. “