Bulb Energy has gone pop
- Thread starter Bristol_Rob
- Start date
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So how can you switch? 
Bristol_Rob
Established Member
Apparently the advice is to sit tight, don't switch or cancel your DD.
Sadly, I'm one of Bulb's customers (was!)
Sadly, I'm one of Bulb's customers (was!)
Sachakins
The most wasted of days is one without woodwork
Why not cancel direct debit? If a company is going into administration or going bust, I wouldn't want them to have unfettered access to my account.
Stopping direct debit would be first thing I'd do. As for not jumping ship, why the hell not.
Imagine if your bank was about to go t1ts up, would you be so willing to take the advice of sit tight!
Remember that the little individual at the end if the chain that pays continually to these companies is always the one at the back of the queue to get money back when they fold.
If a company has been so badly run as to face administration, the last thing I would want is advice to sit and wait with my thumb up my proverbial, hoping all will be rosy again. I bet wealthy investors and fund managers got wind of company troubles a while ago, so withdrew their investments pretty smartish, which through them over the edge into administration.
Stopping direct debit would be first thing I'd do. As for not jumping ship, why the hell not.
Imagine if your bank was about to go t1ts up, would you be so willing to take the advice of sit tight!
Remember that the little individual at the end if the chain that pays continually to these companies is always the one at the back of the queue to get money back when they fold.
If a company has been so badly run as to face administration, the last thing I would want is advice to sit and wait with my thumb up my proverbial, hoping all will be rosy again. I bet wealthy investors and fund managers got wind of company troubles a while ago, so withdrew their investments pretty smartish, which through them over the edge into administration.
Phil Pascoe
Established Member
I seem to remember Martin Lewis advising not to cancel DDs and to sit tight. Most other suppliers are not taking on new customers anyway, so you'll have little choice. Just think, you might get British Gas - lucky you. 
doctor Bob
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I think it's because if you sit tight they have to switch you to the standard rate. If you voluntarily move then you go onto a higher tarrif.
Sit tight. The administration scheme is government run so your current rates and any credit you have are protected.
No other company is accepting customers, and even if they were it would be at a far higher rate.
It's frustrating as we're electricity-only customers of Bulb as they are 100% renewable, but they've been brought down by the rise in wholesale gas prices which have risen from 50p/therm 12 months ago to around £4.00/therm now.
As Bulb is wound down, all customers will be moved to other suppliers but we all will end up paying more.
No other company is accepting customers, and even if they were it would be at a far higher rate.
It's frustrating as we're electricity-only customers of Bulb as they are 100% renewable, but they've been brought down by the rise in wholesale gas prices which have risen from 50p/therm 12 months ago to around £4.00/therm now.
As Bulb is wound down, all customers will be moved to other suppliers but we all will end up paying more.
Tris
What am I doing here?
I think in Bulb's case it was pursuing on overly ambitious expansion plan without enough investment. There were rumblings back in the summer that the company was badly placed after moving into US markets.
Phil Pascoe
Established Member
The are not the only supplier to advertise this (mine's Octopus). I wonder where they get all their renewable electricity from when there's no wind and sunshine?
Jacob
What goes around comes around.
It all comes and goes via National Grid What we do | National Grid Group but what we pay extra for green tariff goes towards supporting green suppliers and paying the cost differential.The are not the only supplier to advertise this (mine's Octopus). I wonder where they get all their renewable electricity from when there's no wind and sunshine?
Richard_C
Established Member
When suppliers fail, ofgem normally broker a seamless transfer to a new supplier. It can take a while for credit balances to get sorted, but they do.
Bulb is different, it is so big that the regulator is going to run it directly for a while until it finds takers for all 1.7 million customers. Seems likely that they will use Bulb staff and systems for now - except the Directors of course. Bit like when LNER failed, customers saw no difference for ages apart from branding.
I would keep dd etc. going and sit tight, but it would be wise to read and ideally photograph your meters and look at your online account if you still can and take screenshots of balances. Just in case there is a dispute later.
To put it in context, Bulb has almost as many customers as the total customers of all supplier failures to date. 1.7m makes it about 6% of all UK households so the regulator will work hard to get it right.
The real worry is that if a proper big supplier like Bulb has failed (unlike some of the tiny 'chancers' in the market) who will be next and is any company safe? Bit like 2009 when we effectively had to nationalise the banks, will we have to nationalise some of the big suppliers so the lights stay on?
Bulb is different, it is so big that the regulator is going to run it directly for a while until it finds takers for all 1.7 million customers. Seems likely that they will use Bulb staff and systems for now - except the Directors of course. Bit like when LNER failed, customers saw no difference for ages apart from branding.
I would keep dd etc. going and sit tight, but it would be wise to read and ideally photograph your meters and look at your online account if you still can and take screenshots of balances. Just in case there is a dispute later.
To put it in context, Bulb has almost as many customers as the total customers of all supplier failures to date. 1.7m makes it about 6% of all UK households so the regulator will work hard to get it right.
The real worry is that if a proper big supplier like Bulb has failed (unlike some of the tiny 'chancers' in the market) who will be next and is any company safe? Bit like 2009 when we effectively had to nationalise the banks, will we have to nationalise some of the big suppliers so the lights stay on?
Jacob
What goes around comes around.
Should never have been sold off in the first place - a completely pointless ideological exercise.
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Richard_C
Established Member
Yes but we are where we are, and the party of privatisation keeps getting re elected so someone must think its a good thing. It's a 40 year old argument.
Fact is, right now it's all private sector and we have to manage the consequences both at a personal and national level.
Jacob
What goes around comes around.
It's only notionally private sector - in reality it's under strict government control. Non of them can be allowed to go bust and close down like a genuinely private sector business.
Good description here of why Bulb fell. Basically just a marketing exercise and completely pointless. ‘Too good to be true’: the rapid rise and costly fall of Bulb Energy
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Phil Pascoe
Established Member
I'm well aware of that, but to advertise that the electricity you're using is 100% renewable is bollix.
Incidentally, we already support "green suppliers" - we subsidise them heavily.
Phil Pascoe
Established Member
| Bulb | 1.7 million | In Special Administration | |
| November 2021 | Neon Reef | 30,000 | British Gas |
| November 2021 | Social Energy | 5,500 | British Gas |
| November 2021 | CNG | 41,000 | Pozitive Energy |
| November 2021 | Zebra Power | 14,800 | British Gas |
| November 2021 | Omni Energy | 6,000 | Utilita |
| November 2021 | Ampoweruk Limited | 2,600 | Yü Energy |
| November 2021 | MA Energy | 300 | SmartestEnergy Business |
| November 2021 | Bluegreen Energy | 5,900 | British Gas |
| October 2021 | GOTO Energy |
| October 2021 | Daligas | 9,000 | Shell Energy |
| October 2021 | Pure Planet | 235,000 | Shell Energy |
| October 2021 | Colorado Energy | 15,000 | Shell Energy |
| September 2021 | Symbio | 50,000 | E.ON Next |
| September 2021 | Igloo | 180,000 | E.ON Next |
| September 2021 | Enstroga | 6,000 | E.ON Next |
| September 2021 | Green | 350,000 | Shell Energy |
| September 2021 | Avro | 600,000 | Octopus |
| September 2021 | People's Energy | 350,000 | British Gas |
| September 2021 | Utility Point | 200,000 | EDF |
| September 2021 | PFP Energy | 80,000 | British Gas |
| September 2021 | Moneyplus Energy | 9000 | British Gas |
| August 2021 | HUB Energy | 15,000 | Eon Next |
| January 2021 | Simplicity Energy | 50,000 | British Gas Evolve |
| January 2021 | Green Network Energy | 367,500 | EDF |
| December 2020 | Yorkshire Energy | 74,000 | Scottish Power |
| October 2020 | Tonik Energy | 130,000 | Scottish Power |
| September 2020 | Effortless Energy | 2,500 | Octopus |
| March 2020 | Gnergy | 9,000 | Bulb |
| December 2019 | Breeze | 18,000 | British Gas |
| October 2019 | Toto | 134,000 | EDF |
| October 2019 | Uttily (Rutherford) | 280 | Total gas and power |
| September 2019 | Eversmart | 29,000 | Utilita |
| August 2019 | Solarplicity | 8,000 | EDF |
| August 2019 | Cardiff Energy Supply Ltd | 800 | SSE |
| March 2019 | Brilliant | 17,000 | SSE (currently SSE OVO) |
| January 2019 | Our Power | 32,000 | Utilita |
| January 2019 | Economy Energy | 237,000 | OVO |
| December 2018 | One Select | 33,000 | Together Energy |
| November 2018 | Spark Energy | 290,000 | OVO |
| November 2018 | Extra Energy | 108,000 | Scottish Power |
| October 2018 | Usio Energy | 7,255 | First Utility (currently Shell) |
| July 2018 | Iresa Energy | 95,000 | Octopus Energy |
| July 2018 | UK National Gas | 80 | Hudson Energy |
| January 2018 | Future Energy | 10,000 | Green Star Energy |
| November 2016 | GB Energy | 160,000 | Coop Energy |
I think they'd disagree with you.
Jacob
What goes around comes around.
The point I was making was that the actual supply of services can't be allowed to stop. These failed companies can't just close down and sell off assets like a genuinely private company. They were pointless to start with - only notionally or nominally private.
Bulb 1.7 million In Special Administration November 2021 Neon Reef 30,000 British Gas November 2021 Social Energy 5,500 British Gas November 2021 CNG 41,000 Pozitive Energy November 2021 Zebra Power 14,800 British Gas November 2021 Omni Energy 6,000 Utilita November 2021 Ampoweruk Limited 2,600 Yü Energy November 2021 MA Energy 300 SmartestEnergy Business November 2021 Bluegreen Energy 5,900 British Gas October 2021 GOTO Energy
October 2021 Daligas 9,000 Shell Energy October 2021 Pure Planet 235,000 Shell Energy October 2021 Colorado Energy 15,000 Shell Energy September 2021 Symbio 50,000 E.ON Next September 2021 Igloo 180,000 E.ON Next September 2021 Enstroga 6,000 E.ON Next September 2021 Green 350,000 Shell Energy September 2021 Avro 600,000 Octopus September 2021 People's Energy 350,000 British Gas September 2021 Utility Point 200,000 EDF
September 2021 PFP Energy 80,000 British Gas September 2021 Moneyplus Energy 9000 British Gas August 2021 HUB Energy 15,000 Eon Next January 2021 Simplicity Energy 50,000 British Gas Evolve January 2021 Green Network Energy 367,500 EDF December 2020 Yorkshire Energy 74,000 Scottish Power October 2020 Tonik Energy 130,000 Scottish Power September 2020 Effortless Energy 2,500 Octopus March 2020 Gnergy 9,000 Bulb December 2019 Breeze 18,000 British Gas
October 2019 Toto 134,000 EDF October 2019 Uttily (Rutherford) 280 Total gas and power September 2019 Eversmart 29,000 Utilita August 2019 Solarplicity 8,000 EDF August 2019 Cardiff Energy Supply Ltd 800 SSE March 2019 Brilliant 17,000 SSE (currently SSE OVO) January 2019 Our Power 32,000 Utilita January 2019 Economy Energy 237,000 OVO December 2018 One Select 33,000 Together Energy November 2018 Spark Energy 290,000 OVO
November 2018 Extra Energy 108,000 Scottish Power October 2018 Usio Energy 7,255 First Utility (currently Shell) July 2018 Iresa Energy 95,000 Octopus Energy July 2018 UK National Gas 80 Hudson Energy January 2018 Future Energy 10,000 Green Star Energy November 2016 GB Energy 160,000 Coop Energy
I think they'd disagree with you.
Jacob
What goes around comes around.
It is 100% if you are paying 100% of the actual cost of green energy, effectively, to all intents and purposes.
