Last Updated: 11 February 2022
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Bulb Energy Standard Tariff (Vari-Fair) set to increase by £693 (54%) from 1 April 2022
Ofgem has announced the next level of the Energy Price Cap. It was worse than expected.
- From 1 April 2022, households with average energy usage, paying by monthly direct debit, will see their energy bills increase by £693 to £1,971. That’s up a massive 54%. The increase will add an extra £58 per month to the energy bill of a household with average energy usage.
- Those paying by prepayment meter, or quarterly by cheque, will do even worse. Their new energy bills will come in at £2,017 and £2,101 respectively.
- This increase come on top of the £96 increase on 1 April 2021 and the further £139 increase on 1 October 2021. Three increases in a row adding £928 in bills in the space of a year.
How will Bulb Energy Standard Tariff customers be affected?
Bulb Energy has not yet published its new Standard tariff prices. When they do, we expect that they will charge the maximum allowed under the energy price cap. Having said that, given that Bulb Energy is currently in Special Administration and is effectively being bankrolled by the taxpayer, it will be interesting to see what action they take. Price to the maximum and the government will be criticised for screwing the customer. Price below other energy suppliers and they will be at risk of (potentially illegally) distorting competition. Certainly one to watch.
Given that Bulb only has the one variable tariff then this increase will ALL Bulb Energy customers.
As there is no functioning energy market at the current time, the only thing Bulb Energy customers can do, for now, is to grin and bear it.
However, now that the energy price cap is being lifted, energy suppliers, including Bulb Energy, have a chance of resuming normal operations. This should mean that energy switching will gradually return over the coming weeks and months. When the energy switching market does come back, it will be a huge relief for consumers. Right now, households have just one way to reduce their energy bills; by significantly cutting back on heating and lighting. However, for many, that will not be possible in any meaningful way. Energy switching therefore represents the quickest alternative way to cut energy bills. Even small percentage savings on MASSIVE energy bills leads to useful cash sums.
When it happens, we will be the first to let you know. Stay tuned.
But for now, we are sorry to say that your tariff will increase again in…
Should I be switching away from the Bulb Energy Standard Tariff to a fixed energy tariff?
Right now, you do not have much of a choice as there is no functioning energy switching market. But even if there was, we would recommend that you stay put. The current price of the Bulb Energy Standard Tariff is such that there are no alternative energy tariffs that come even remotely close on price. However, we expect things to change for the better in the coming weeks and months, and we will update this page as soon as that happens
If you would like to know when some normality returns to the market, and energy switching once again allows you to cut your energy bills, then do one or more of the following. Sign up to our newsletter (in the footer of this page), check our home page from time to time for updates, or follow us on Twitter
If you would like to know more about the energy price cap and how it affects you, please check out our Energy Price Cap Guide for all the latest information.
Tariff Overview
This is the Standard variable tariff from Bulb.
Data from Ofgem the GB gas and electricity regulator, shows that, as at July 2021, Bulb Energy had 2.57 million customer accounts on the Bulb Standard Tariff. This comprises 1.09 million Bulb Energy gas accounts and 1.48 million Bulb electricity accounts. That makes Bulb Energy the 7th largest energy supplier in the UK. 100% of its customer base are on this tariff
In normal market conditions (before August 2021), if you are were on this tariff, you would usually be doing quite well. Bulb Vari-Fair was rarely, if ever, the cheapest energy tariff in the market. But it was always reaonably competitive and always offered a big saving compared to the Standard Variable rate tariffs of the Big 5 energy suppliers. However, with the energy market turned on its head, Bulb’s Standard tariff, which is subject to the energy price cap, is currently no cheaper than the Standard tariffs of any of the old incumbent energy suppliers. What a bizarre situation we find ourselves in.
In current marlet circumstances, the best that you can do for now is to stay put. Even if you could switch energy supplier, you would not be able to get yourself a cheaper deal – even if this ine is £310 more expensive than it was a year ago.
Things will change. The market will get back to normal. When it does, we will be the first to let you know. We expect the current situation to persist until at least January 2022. If Bulb Energy makes it through the energy crisis alive, and we hope they do, we expect that they will try to cut the price of the Vari-Fair tariff to below the energy price cap as soon as they reasonably can.
Key features of the Bulb Energy Standard tariff
Key features of the Bulb Standard Variable tariff include;
– The Bulb Standard Tariff is called Vari-Fair
– (The tariff was initially launched under the name Green Electricity + Green Gas. Catchy…not! It was renamed Vari-Fair in July 2016).
– Bulb Vari-Fair is a Variable rate tariff which means that your energy prices may go up or down. Energy prices are subject to change on 30 days advance notice.
– This tariff is subject to the Energy Price Cap. The energy price cap sets the maximum level of this tariff in any price cap (6-month) period.
– This is an online only tariff – you cannot opt for paper billing.
– The Bulb Energy Standard Tariff is available for customers taking electricity only or dual fuel. There is no gas only option.
– The only payment option for customers with credit meters is by Monthly Direct Debit.
– This tariff is also available to customers with prepayment meters (where it has the same name).
– Bulb Energy sources its electricity from wind, solar and hydro making its electricity 100% renewable. The energy is sometimes bought directly from electricity generators. Indirect purchases are also made on the wholesale electricity market which are then matched with renewable energy certificates.
– 100% of the gas supplied is carbon neutral. Bulb offsets the emissions from the gas they supply by supporting carbon reduction projects around the world as well as buying green gas in the UK.
– There are no early termination fees with the Bulb Vari-Fair tariff.
– Bulb Energy is signed up to the Warm Home Discount Scheme.
– Bulb is signed up to the Energy Switch Guarantee.
Vari-Fair tariff (for prepayment customers)
Customers with a smart prepayment meter can top-up their energy account online using your Bulb account or via the Bulb Energy app.
Customers with traditional prepayment meters, or ones that are not compatible with Bulb, can top-up at PayPoint and Payzone outlets.
History of Bulb Vari-Fair Price Changes
A history of Bulb Energy Standard tariff price changes, from initial launch in February 2016, is shown in the Table below.
It has been a bit of a roller coaster ride for customers as far as their energy pricing is concerned. Becase the Bulb Energy Standard Variable tariff is, well, variable and becasue they want to keep it competitive they have had to adjust it often. Very often. Since February 2016 there have been 17 prices changes at an average rate of 1 every 4 months. So far, it is 8 up and 9 down.
| Effective Date | Annual Dual Fuel Bill | Change | Comment |
|---|---|---|---|
| 1 Apr 2022 | £1,971 | £693 increase | Energy Price Cap v8 1 Apr 2022 to 30 Sep 2022 Prices to be confirmed |
| 1 Oct 2021 | £1,277 | £151 increase | Energy Price Cap v7 1 Oct 2021 to 31 Mar 2022 |
| 31 May 2021 | £1,126 | £69 increase | |
| 17 Mar 2021 | £1,057 | £91 increase | |
| 14 Sep 2020 | £966 | £51 increase | |
| 2 Mar 2020 | £915 | £57 cut | |
| 1 Sep 2019 | £972 | £0.41 cut | |
| 28 Feb 2019 | £972 | £20 cut | |
| 21 Dec 2018 | £993 | £5 cut | |
| 10 Sep 2018 | £998 | £101 increase | |
| 11 Jun 2018 | £897 | £44 increase | |
| 27 Feb 2018 | £853 | £23 increase | |
| 28 Jun 2017 | £829 | £20 cut | |
| 24 Apr 2017 | £849 | £21 cut | |
| 17 Nov 2016 | £870 | £71 increase | |
| 1 Sep 2016 | £799 | £5 cut | |
| 14 Jul 2016 | £805 | £6 cut | Tariff renamed as Varif-Fair |
| 16 Sep 2016 | £810 | £23 cut | |
| 3 Feb 2016 | £833 | Launch tariff | At launch tariff was called Green Electricity + Green Gas |
| Source: energyscanner.com bulb.co.uk |
Table Notes
Annual bills are based upon a dual fuel customer paying by Monthly Direct Debit with average annual usage; 12,000 kWh for gas and 2,900 kWh for electricity. We have re-indexed all bill values to this usage level.
Read more …
– Bulb Energy Review
– Bulb Energy Fuel Mix
– What is the energy price cap?
– How much will energy bills go up?
– Bulb Energy Contacts Details
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