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Bulb has announced a price rise for its electricity and dual fuel customers, due to come into effect on 1 October.
The supplier is raising electricity rates on its Vari-Fair tariff by an average of £53. This change is driven by increases in wholesale energy costs, network costs and central policy costs.
However, Bulb is also set to reduce its gas prices by an average of £2 per year. This means the average dual fuel customer’s bill will increase by £51 in total.
Bulb’s price rise comes as many energy suppliers are announcing price drops to track the changing energy price cap. However, Bulb has consistently priced below the price cap level.
From 18 October, Bulb’s Vari-Fair tariff will cost £966 for an average dual fuel customer, £76 below the new energy price cap rate of £1,042.
Will Owen, energy expert at Uswitch, said: “There is never a good time to see energy prices rise, but customers are likely to feel this extra cost even more as winter approaches and electricity use increases.”
“Bulb Energy has blamed growing wholesale prices for the increase, and we will be watching to see how other suppliers might react as the energy market continues to rise from historic lows in April.”
“Savvy consumers should act now and look online to see what energy deals are available to them. Customers can save an average of £387 by switching to a better energy tariff.”