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Bulb Electricity Goes Under
- Thread starter wow400
- Start date
Jason71
Well-Known Member
Of all the options you had
"Bulb Goes Out"
"Bulb Blown"
or even
"Bulb Screwed"
Surely you could do better than "Bulb Electricity Goes Under"
does click bait mean nothing to you!!!!!
"Bulb Goes Out"
"Bulb Blown"
or even
"Bulb Screwed"
Surely you could do better than "Bulb Electricity Goes Under"
does click bait mean nothing to you!!!!!
Bantam
Member
Another one lights the dust... I'll get my coat!
SpareHeadOne
Member
Slight correction, they're going to be in Special Administration, they aren't just yet.
Since they haven't actually gone bust yet they might yet survive and come back out of SA (the other two options are that they are sold or their customers are moved to another supplier).
As a customer this more or less means nothing to you, but I probably wouldn't switch to Bulb just at the moment
I guess all of that haranguing customers to increase their monthly payments by huge percentages didn't save them in the end.
Since they haven't actually gone bust yet they might yet survive and come back out of SA (the other two options are that they are sold or their customers are moved to another supplier).
As a customer this more or less means nothing to you, but I probably wouldn't switch to Bulb just at the moment
I guess all of that haranguing customers to increase their monthly payments by huge percentages didn't save them in the end.
Err I don’t ever recall being harangued by them to increase monthly payments to save the business - did that happen?!Slight correction, they're going to be in Special Administration, they aren't just yet.
Since they haven't actually gone bust yet they might yet survive and come back out of SA (the other two options are that they are sold or their customers are moved to another supplier).
As a customer this more or less means nothing to you, but I probably wouldn't switch to Bulb just at the moment
I guess all of that haranguing customers to increase their monthly payments by huge percentages didn't save them in the end.
This news just highlights the underlying severity of the issue really.
I hope they can pull through. They’ve been a great supplier to us and always good people whenever I’ve spoken to them.
On the one hand it’s surprising news given all their expansion efforts, on the other hand, given the current situation with wholesale energy… not so much. Maybe they were over leveraged or maybe they got hit harder than others.
SpareHeadOne
Member
It sure did, I had at least four emails saying that my payments weren't going to cover my predicted costs - based on incorrect calculations as far as I could tell - and telling me they were going to increase my monthly payments by £70/month, but that I could opt to pay more. When I queried it, they said that if I didn't then my account might be in debit after winter (which is the way things usually work).
I asked why they thought my energy was going to cost £800 more than I was estimating - preferably by showing their calculations - and they couldn't.
I'm not the only one this has happened to, there are a few people in the Bulb forums and places like Martin Lewis' website complaining of similar behaviour, in some cases people were being asked to pay three times what they were currently paying, the general feeling was that Bulb had changed policy and wanted all accounts to stay in credit. I don't mind that, but when asked they said that wasn't it.
Then it turns out they're in financial difficulty. What conclusion would you draw?
SpareHeadOne
Member
Further to my earlier post, they are still at it: Someone posted yesterday on the Bulb community that he's paying £600/month and they've told him he needs to increase his payment to over £900 month despite being £3,300 in credit - for a 4-bed house with two occupants.
Right now they're telling me I should pay them an additional £40/month "Otherwise you're likely to use up your credit over time and go into debit.", if I follow their advice then I'll overpay them by about £900 over the course of the year.
If this isn't deliberate then they have a significant problem somewhere in their billing and prediction system.
Right now they're telling me I should pay them an additional £40/month "Otherwise you're likely to use up your credit over time and go into debit.", if I follow their advice then I'll overpay them by about £900 over the course of the year.
If this isn't deliberate then they have a significant problem somewhere in their billing and prediction system.
I don’t understand. You can set your monthly payment to a minimum monthly payment in the app. They can’t force you to go into credit? Why would someone be knowingly paying that? Or are you saying they made that his minimum? Crazy either way
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Jason71
Well-Known Member
......and a cannabis farm in the garage by the sound of it
RedMod3
Member
I suspect the problem with Bulb is they were or are buying electricity on short term contracts and selling it on long term deals, and that's not sustainable. Unless the energy market settles, we will all be paying substantially more in the near future. A shame, we used Bulb for a while and they were a good supplier to us.
RedMod3
Member
No, when you set up a cannabis farm, you hot-tap into the 3-phase supply in the main road and receive a free 300A supply; the last thing you do is pay for it. This happened to a place near me and the Police raised them.
If you take a pessimistic view you could imagine some of their customers not knowing any different or not questioning what they’re being told by their energy company, and just accepting the increase.I don’t understand. You can set your monthly payment to a minimum monthly payment in the app. They can’t force you to go into credit? Why would someone be knowingly paying that? Or are you saying they made that his minimum? Crazy either way
If they get enough people doing that it might pay for some stuff.
That’s the cynical view though.
Problem is there's less and less choice now. Octopus are good (I'm with them) but I don't want to imagine a situation where it's basically Octopus and British Gas that's left, because less competition = higher prices.
Definitely. I really hope more new suppliers come once the prices are a bit stable. After brexit and pandemic everything has just been going up, never down
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