Bulb Energy, which has 1.7 million customers, has announced that the firm will be put into administration.

[Realist]

Bulb Energy, which has 1.7 million customers, has announced that the firm will be put into administration.

 

[Realist]

If people need it: https://share.octopus.energy/noble-lake-734

We both get £50 credit if the above is used.

 

[Dock Wind]

Advice from MoneySaving Expert Martin Lewis

He tweeted

Pls share.
Reports Bulb energy's now in special administration.
Details sparse, but don't worry your supply continues & almost certainly
1. Ull stay on the price cap, there's nowt meaningfully cheaper.
DON'T switch or you may pay 30%+ more
2. Your credit's safe

More as we know

So if you're with Bulb
1. Don't panic
2. DON'T SWITCH SUPPLIERS
3. Take photos of your meters as you cannot Login to Bulb's website at the moment

 

[chaser]

Advice from MoneySaving Expert Martin Lewis

He tweeted

Pls share.
Reports Bulb energy's now in special administration.
Details sparse, but don't worry your supply continues & almost certainly
1. Ull stay on the price cap, there's nowt meaningfully cheaper.
DON'T switch or you may pay 30%+ more
2. Your credit's safe

More as we know

So if you're with Bulb
1. Don't panic
2. DON'T SWITCH SUPPLIERS
3. Take photos of your meters as you cannot Login to Bulb's website at the moment

I wonder if he's pleased with his self now he's got everyone to change, probably lost more than they have gained, and buggered companies up in the meantime.

 

[Realist]

Who’s next that’s what I’m afraid of and if the smaller companies go bust and left with the big four competition will deffo go out the window.

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[rb62]

Advice from MoneySaving Expert Martin Lewis

He tweeted

Pls share.
Reports Bulb energy's now in special administration.
Details sparse, but don't worry your supply continues & almost certainly
1. Ull stay on the price cap, there's nowt meaningfully cheaper.
DON'T switch or you may pay 30%+ more
2. Your credit's safe

More as we know

So if you're with Bulb
1. Don't panic
2. DON'T SWITCH SUPPLIERS
3. Take photos of your meters as you cannot Login to Bulb's website at the moment

Just logged into our account to check when our payment was due.

 

[scousebird]

Bummer but not a surprise. My app is still working and showing up to date info. I will take photos of our meter when I get home from work.

 

[Clarky]

Bulb have been border line for weeks now so not surprised that they have finally gone into administration.
It's a shame because we've found them to be by far the most efficient electricity company we have dealt with.
Hope they can sort something and perhaps amalgamate with another of the newer companies.............or have they all folded now?

Richard.

 

[Realist]

I’m waiting for my company to say beep we’re gone as well, but hope not they look secure.

 

[Podney]

They’ve all gone bust because they had to buy energy at a price higher than they could sell it ,due to the Government price cap. Ridiculous!!!!! That’s what happens when consumerism and government interference overtakes capitalism.

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[Spriddler]

Who’s next that’s what I’m afraid of and if the smaller companies go bust and left with the big four competition will deffo go out the window.

But gas will continue to flow through the pipes.
I'm hearing that the well run profitable energy suppliers are (unsurprisingly) refusing to take on the pop-up failed lossmaking ex-competitors so it looks like taxpayers will be picking up the tab.

 

[dash300]

They’ve all gone bust because they had to buy energy at a price higher than they could sell it ,due to the Government price cap. Ridiculous!!!!! That’s what happens when consumerism and government interference overtakes capitalism.

Or gamblers try to run a business!

 

[pampam]

Octopus took over avro its a very pretty app, but they seem slow at actually changing over
as i never have any details on my account

 

[dash300]

Octopus took over avro its a very pretty app, but they seem slow at actually changing over
as i never have any details on my account

Have been with Octopus for the past 3 years and they are very user friendly UK based Company heavily invested in renewables. If they go under I dread being humped over to that French outfit!

 

[LesW]

Things where looking dodgy for Bulb last year, when they inexplicably started increasing customers monthy payments, mine almost doubled... presumably to try and raise some capital.

Their forum was full of customers complaining and declaring they where moving, I saw the writing on the wall and moved to Octopus in September 2020..

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[Clipgate]

The concept of competition is interesting, one producer only.
Then lots of smaller companies with staff, shareholders, and overheads.
Once apon a time one producer, one retailer ( effectively) one set of directors, lower total overheads.
Who was sold what in the first place they already owned?
They will not be the first or last industry to go bust, however please believe inflation is low, help you not to panic,that would never do, believe all your told behave like good slaves too.

 

[busby]

24 energy companies gone this year.Its criminal...OFCOM need to get a grip.Its possible to set an energy company up from a home address,,,bleed it dry and go bust.The remaining viable companies pick up the bill which means really the public do.Daily Telegraph have been investigating this for a while.BUSBY.

 

[SpeedyDux]

They’ve all gone bust because they had to buy energy at a price higher than they could sell it ,due to the Government price cap. Ridiculous!!!!! That’s what happens when consumerism and government interference overtakes capitalism.

But gas will continue to flow through the pipes.
I'm hearing that the well run profitable energy suppliers are (unsurprisingly) refusing to take on the pop-up failed lossmaking ex-competitors so it looks like taxpayers will be picking up the tab.

In effect Bulb has been Nationalised.

 

[DumfriesDik]

It's a great shame so many companies have gone to the wall. My fixed price ends 31 January 2022 and I am expecting to be moved onto Ofcoms rate capped tariff. I am expecting my fuel costs to double.

 

[Coolcats]

.

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[Coolcats]

24 energy companies gone this year.Its criminal...OFCOM need to get a grip.Its possible to set an energy company up from a home address,,,bleed it dry and go bust.The remaining viable companies pick up the bill which means really the public do.Daily Telegraph have been investigating this for a while.BUSBY.

Thats the problem with the 'free market' its like the wild west I think it should just be nationalised one organisation and best price for all.

 

[DumfriesDik]

nationalised one organisation and best price for all.

Sadly, it may not be the best way to get the best price. Scargill would be very happy though.

 

[Puddleduck]

If people need it: https://share.octopus.energy/noble-lake-734

We both get £50 credit if the above is used.

I tried to use that link but they are unable to quote for this postcode area at the moment

 

[Spriddler]

In effect Bulb has been Nationalised.

I was thinking exactly that too, probably at the same time that you were posting. Shades of the RBS 'bail-out' except that Bulb and the others don't have any assets other than a database of loss-making customers.

 

[busby]

Sadly, it may not be the best way to get the best price. Scargill would be very happy though.

Well for many years it was affordable and reliable..Wasn't it great to have a Gas board and Electrcity company on the high Street.BUSBY.

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[busby]

I was thinking exactly that too, probably at the same time that you were posting. Shades of the RBS 'bail-out' except that Bulb and the others don't have any assets other than a database of loss-making customers.

Bet the CO and other directors are still warm and well fed this morning.BUSBY.

 

[Coolcats]

Sadly, it may not be the best way to get the best price. Scargill would be very happy though.

This is an interesting take given that some 20 companies have gone bust leaving 2 million people having to have a new supplier.Nnow Bulb is in administration and we the public will be paying for private enterprise failure (yet again). I suspect the owners of the failed will have healthy bank accounts yet its the customers and general public that will have to pick up the peices !

 

[busbuddy]

It's a great shame so many companies have gone to the wall. My fixed price ends 31 January 2022 and I am expecting to be moved onto Ofcoms rate capped tariff. I am expecting my fuel costs to double.

I would have thought your fixed price ended the minute your supplier went bust, the agreement was with them

 

[scousebird]

Has anyone else's app stopped working?

 

[Chris]

It was a bit daft though having all these energy companies all selling nothing but a resource they were not producing, just passing on.

Think of a catchy name and go for it.

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