• Welcome to the new B.I.R.D. Forum. Please be sure to read the "New Member / New Registered ? Please Read" thread in the Coffee Shop. This contains some important information. To become a full member ( £5.50 a year ) simply click on your user name near the top on the right I hope you enjoy the new site ................ Jaws ( John )

Sod it.. now Bulb has gone

Jaws

Corporal CockUp
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Energy supplier Bulb has gone pop ( seems about right )
I spose OfGem will stick me on Eon, Brit Gas or some other crappy fir.
Will wait for the transfer to be done ( that will protect any credit I have ) and then switch to Octopus
 

DanBow

Like a leaf on the wind . . .
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I was moved to Eon a few weeks ago after Igloo went bust.
 

andyBeaker

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WTF - Where's the energy industry going?
Loads of start ups five - ten years back as there was opportunity on deregulation of some aspects, market now rationalising as well as being disrupted by some clever people with innovative schemes to get the consumer the best deal.

Customer service across the energy sector has been awful, truly awful, for as long as I can remember.
 

Cougar377

Express elevator to hell
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Once they're all rolled up into one big company they'll then nationalise it.....

Probably.
 

Minkey

Ok it was me
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Apparently it is going to be run by the government and customers won't be swapped to another company
 

andyBeaker

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Jaws


from moneysavingexpert….


————————————


Your supplier Bulb (not right? Let us know) collapsed on Monday 22 November 2021 – here’s my need-to-know briefing.

The firm has now collapsed, but the brand lives on (for now) as Bulb is moving into ‘special administration’, unlike other failed firms whose customers were moved elsewhere.

This is likely because it's so big no other supplier would agree to take on its 1.7 million customers at the price-cap rate, which currently forces firms to provide energy at below cost price.

Bulb will continue to supply your energy, but it will now be run by an appointed ‘special administrator’, with Bulb customer service staff still there to answer queries. The 'special' means the administrator must consider customers’ interests as well as creditors (those Bulb owes money to), and if needed, it can request Government funding.

What should you do?

In brief... DO NOTHING. Bulb is still your supplier - just under new management.

  • Keep paying your direct debit and top up prepay as normal.
  • Its rates were already at the price cap, so you will stay at that rate.
  • Customer credit is protected, so if it owes you, it still owes you.
  • Do not switch. No tariff is meaningfully cheaper, in fact most switchable tariffs cost 40%+ more.
See more detailed info in our Bulb customer help MSE News story.

What happens next?

Once appointed, the administrators will be looking at ways to rescue Bulb or sell its assets, to get back some of the cash it owes, but even if that's done, you'd stay on the price cap and your credit remains protected.

Once we get more news about the fate of Bulb, we’ll let you know.

Thanks,
Martin
 

Lee337

Confused Poster
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We had an email yesterday from our energy supplier, Ovo I think it is saying they're going to put up our monthly payment, even though we're on a fixed tarrif. Apparently, as our contract is due to end in a couple of months, they're putting the payment up in 'preparation' for a higher tarrif should we decide to stay with them.

We're already in credit, not by much but it's still a credit after our last bill.
 

andyBeaker

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Like many things at the moment it seems that the energy market is completely out of kilter. Energy prices going through the roof should never be a reason for a supplier going bust as they should be buying future supplies in the futures market. No doubt some have gone bust as they have taken market views that have gone wrong rather than acting prudently ie by buying futures. There has been dozens of start ups that drove prices down by competition and that was always going to see loads of casualties along the way.
 

Jaws

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We had an email yesterday from our energy supplier, Ovo I think it is saying they're going to put up our monthly payment, even though we're on a fixed tarrif. Apparently, as our contract is due to end in a couple of months, they're putting the payment up in 'preparation' for a higher tarrif should we decide to stay with them.

We're already in credit, not by much but it's still a credit after our last bill.

Same as us... but Bulb has a great customer facing web site that lets you alter your monthly payments to fit your use and amount of credit you have
 

Turbine2

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Looks like it may not be as bad as first thought. Bulb are getting a government payout what with them being too big to let fail.
 

Duck n Dive

Rebel without a clue ...
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At this stage I think it's a case of sit tight.

If you're supplier goes tits up nothing much will happen.

Over the next few months the regulator will face up to the fact the suppliers have stuffed themselves and will change the cap.

At that point we'll all start having to pay more :(
 

Minkey

Ok it was me
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And they want us all to drive electric vehicles, imagine a world with only having the choice of a couple of electric companies supplying our power and not being able to switch to a cheaper supplier, hang on that's happening now, but at least we can shop around for fuel for our vehicles
 

Jaws

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And they want us all to drive electric vehicles, imagine a world with only having the choice of a couple of electric companies supplying our power and not being able to switch to a cheaper supplier, hang on that's happening now, but at least we can shop around for fuel for our vehicles
And pay through the nose for it.. Apart from a two day blip Crude has been slowly dropping all month. while pump prices continue to rise
 

Squag1

Can't remember....
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And pay through the nose for it.. Apart from a two day blip Crude has been slowly dropping all month. while pump prices continue to rise
What's crude got yo do with it???
It seems nothing when it's going down in price!!!!!
 
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