GB Energy ceases trading

[McPhee]

Q4 2016 saw an unusually high spike in wholesale energy prices. The biggest factor in this was a bunch of French nuclear power stations going offline, bumping up the price of French electricity exports. There was also damage to the French interconnector, halving capacity and causing supply-side worries to set in. And on top of all that is the increasing price of imported fuel, mainly coal, due to the weak pound. It was these events that sunk GB Energy.

This year's retail prices are, as a result, cautious. They will likely remain cautious until suppliers are convinced of a return to normality and (relatively) stable pricing. If it weren't for this caution, prices would be a couple of pence per kWh lower.

 

[McPhee]

why are you all switching from GB energy to Bulb?

This is what GB energy offered me to stay (and £150 loyalty payment on top too)



vs bulb's quote of :

Bulb were cheaper for me, but not the cheapest. The £50 referral bonus helped. Ultimately, I went with them as they have a good reputation, are 100% renewable energy, and the extra cost per year was (relative) peanuts.

I fell out with GB Energy over the Direct Debit changes a few months back, so I had no intention of staying. An increase in Direct Debit from £72 to £106 on an account that was in credit coming out of winter is just mental. They owe me a fair whack now.

 

[Vanquish-Storm]

Bulb were cheaper for me, but not the cheapest. The £50 referral bonus helped. Ultimately, I went with them as they have a good reputation, are 100% renewable energy, and the extra cost per year was (relative) peanuts.

I fell out with GB Energy over the Direct Debit changes a few months back, so I had no intention of staying. An increase in Direct Debit from £72 to £106 on an account that was in credit coming out of winter is just mental. They owe me a fair whack now.

How does Bulb work with it being variable? I have never had a variable contract before. How often do the prices change, is it monthly?

 

[el_dazza]

Electricity has really jumped up. I'm with British Gas at the moment, 8.88p/kWh and 21.8p/day standing. Not finding anything with a unit rate <12.5p/kWh now!

How on earth did you get 8.88p/kwh for elec with BG?!

 

[the shadow]

Signed up with E.ON Cashback brings it to one Quid cheaper than last years quote

 

[McPhee]

How does Bulb work with it being variable? I have never had a variable contract before. How often do the prices change, is it monthly?

This is how Bulb put it:

Historically suppliers have been fast to increase prices and slow to decrease them. This is as rubbish as it sounds and means that customers lose out. We don't want to be like traditional energy companies. We want to be nimble, efficient and fair. We've written up our pricing principles so you can hold us to our word.

1. Just one tariff

• We have one single tariff so if you’re with us, you’re always on our best deal
  
• We don’t charge exit fees – you’re free to leave us at any point

2. Fast down, slow up

• We review our prices every week
  
• When costs fall by more than £20 per year, so will your tariff
  
• If they rise, we work hard to limit cost increases to you and always give 30 days notice

3. Radical transparency

• We show how our tariff compares to all other suppliers on our homepage
  
• We explain what we’re doing in plain English, not industry jargon
  
• A real person is on hand to answer any questions you have

And there you have it.

If you ever think that we're not adhering to these, please let us know and we'll have to do some soul searching.

A fix might be cheaper, particularly one with no exit fees. But I like Bulb's frankness TBH. It seems reasonable to be paying the best rate that they can deliver at any given time, and it's free to leave if they stop being competitive.

Bulb certainly aren't the absolute cheapest. But they're cheap enough, green, and are building a good reputation. I'm content with that.

 

[GeForce]

How on earth did you get 8.88p/kwh for elec with BG?!

It's was the MSE October 2017 collective last year, here's the rates from my welcome email:

 

[Vanquish-Storm]

This is how Bulb put it:



A fix might be cheaper, particularly one with no exit fees. But I like Bulb's frankness TBH. It seems reasonable to be paying the best rate that they can deliver at any given time, and it's free to leave if they stop being competitive.

Bulb certainly aren't the absolute cheapest. But they're cheap enough, green, and are building a good reputation. I'm content with that.

Hi thanks for that, I spoke to them today. They said their tariff has actually dropped the last 3 changes.

 

[PiKe]

Now officially with Bulb energy today and my account has been credited with £100

 

[Vanquish-Storm]

Now officially with Bulb energy today and my account has been credited with £100

£100!?!?!?

 

[PiKe]

£100!?!?!?

Joined via a referral and someone else joined via my referral, got another £100 to come as well as 2 more people randomly signed up through my referrer.

 

[Vanquish-Storm]

Joined via a referral and someone else joined via my referral, got another £100 to come as well as 2 more people randomly signed up through my referrer.

Is there a maximum number of referrals you can get? A few more and you will have covered by energy bill for the year haha

 

[PiKe]

I don't believe there is a maximum.

 

[Vanquish-Storm]

I don't believe there is a maximum.

Last question... the tariff they quote is that including VAT?

 

[el_dazza]

It's was the MSE October 2017 collective last year, here's the rates from my welcome email:

Bloody nora. I managed to get 9.1p/kwh and 16.09p/day SC with SSE in April 16 but it was only a 1 year deal. Gas was 2.13p and 16.09p. That's very good indeed.

 

[pastymuncher]

My switch to Bulb went smoothly and they kept me updated at every step. Their website is much better than GBEnergys was and unlike GBE was able to input my meter reads with no problems. With GBE I had to phone them up and be on hold for ages as their system would never take my Gas meter reads due to it being less than they estimated. The way I see it is that we have enough windfarms here in my area (I can see one huge one just by looking out my window) and even more in the pipeline so I may as well get some use out them. It was also the third cheapest option for me (the cheapest two had bad reviews). If anybody else feels like joining I also have a referral link where we get £50 each on signing up ** No referral links - EVH **

 

[McPhee]

Cheers for that.

Just got your email now. With the £100 off I've had in referral income, Bulb are now officially the cheapest supplier I could have picked. Only a fiver a month more than GB were.

 

[pastymuncher]

It may have been a area thing then because it wouldn't let me override it and they kept telling me it was a glitch that was going to be fixed.

 

[McPhee]

Nah, not just you.

When I bought an EV my electricity use increased by £20-25/month year-round. I had problems submitting readings for months.

 

[PiKe]

Also Joined, quids in

Cheers John!