Uswitch comments on Bulb going into special administration
Justina Miltienyte, energy policy expert at Uswitch.com, said: “This signals the tipping point of the UK energy crisis. With Bulb’s 1.7 million customer base, over four million people have now been directly impacted by the turbulent energy market.
“But it’s not just Bulb’s size as the seventh largest supplier that makes this so significant. Unlike some of the smaller suppliers who recently ceased to trade, Bulb operated with a strong business model combined with a competitive offering for consumers. “Ultimately this demise wasn’t caused by a badly run business model. Instead, Bulb was choked off by the way the Government decided to structure the current energy market with the price cap.
“Instead of Ofgem picking a supplier of last resort, as has been the case with smaller providers, Bulb will continue operating as normal.
“The most important thing for consumers to know is that their energy supply will continue to run as it always has done, and any credit balances will be protected.
“Affected consumers should not cancel their direct debit - you will continue to receive energy and be billed for it, as normal.
“It’s also worth noting that Bulb customers will be protected by the current price cap, until April 2022.
“Technically, you can switch suppliers, but it is worth bearing in mind that there are unlikely to be better deals available elsewhere. You’re probably better off staying put and waiting for the dust to settle on the current situation.
“The administrator may decide to close the supplier down in the future, and move customers elsewhere. But customers will be kept informed by Ofgem and the administrators about what will happen next.”
FOR MORE INFORMATION
Ross Stebbing
Phone: 07827 836 709
Email: ross.stebbing@rvu.co.uk
Twitter: @UswitchPR
About Uswitch
Uswitch is one of the UK’s top comparison websites for home services switching, including energy, broadband and mobiles.
More people go to Uswitch to switch their energy, broadband and mobile than any other site, and we have saved consumers over £2.7 billion off their bills since we launched in September 2000.
Free mobile app Utrack also helps households manage their home energy usage and make potential savings.
Uswitch is part of RVU, a group of online brands with a mission to empower consumers to make more confident home services, insurance and financial decisions.