Monday 10 September 2018
Small energy supplier Bulb raises prices for third time this year
Small energy supplier Bulb has announced a price rise for the third time this year.
More than 750,000 customers will see their bills increase by £8.50 per month - a total of £102 a year - from 11th November.
A typical annual bill will cost £1,025 – up from £923 a year, with new customers switching to Bulb starting on the new rates.
It follows the company's previous price rises in April and August.
However, the energy supplier claims it is still £196 cheaper than the average Big Six standard variable tariff.
It adds the price rise is driven by the increase in wholesale energy costs, which are now 18% higher than they were in June this year.
Bulb Co-Founder Hayden Wood said: “Bulb is committed to supplying energy at a fair price.
“We have one tariff for all our members, which reflects the true cost of energy. when the wholesale cost of supplying energy changes, so does our tariff. We will drop prices when wholesale costs fall by £20 a year for an average home. We will continue on our mission to deliver simpler, cheaper, greener energy for all our members.”
Ofgem recently proposed the energy price cap at £1,136 per year, which is expected to be confirmed in November. Its collective energy switching trial saw more than one in five disengaged customers making average savings of around £300 a year.
