BULB ENERGY

BULB ENERGY

Bulb Energy Ltd. is a startup company that proclaims to be UK’s biggest green energy supplier to date. Founders Amit Gudka and Hayden Wood had begun trading energy since August of 2015 with three core values in mind: Simpler, Cheaper, and Greener energy supply. Bulb is more than just a business, it is also a community wherein its members or consumers actively take part in the restoration of the planet through conscious usage of renewable energy. In effect, it has subsequently reduced the amount of carbon dioxide emissions to up to 3.5 tonnes per year in an average Bulb household.

Product 

Bulb guarantees to deliver its members with 100% renewable electricity that is sustainably sourced from solar, wind and hydro processes. In as much as possible, the supplies are directly acquired from independent generators across the United Kingdom. Meanwhile, the remaining load of deficit is alternatively purchased from the wholesale market.
The company also provides Gas throughout its UK customers. Note, however, that only 10% of it is green and are organically derived from food or farm wastes. Notwithstanding, the other 90% is compensated by Bulb’s continuous commitment in supporting international projects with carbon reduction as the primary focus. Hence, still making amends to provide a 100% carbon neutral gas supply.

Coverage

Bulb mainly supplies renewable electricity and gas in the United Kingdom. However, the company recently announced that they will soon be expanding their services to France, Spain, and Texas. It was said to have its soft launch later this year, followed by the full launch in the first quarter of 2020. The first three countries mentioned are considered as the “first wave” of their international expansion. It is safe to say so that they will soon be delivering renewable energy to more countries worldwide in the coming years.

Cost

Being true with the company’s principles on simplicity and affordability, Bulb opts to offer its members a single “Vari-Fair” tariff. The amount varies depending on the current wholesale energy price in the market. However, in an average, Bulb costs £975 for an annual consumption consisting of a 3,100 kilowatt hour of electricity and 12,000 kilowatt hour of gas supply. According to the data provided by Energy Helpline, Bulb’s price is about £273 cheaper per year in comparison to that of the big 6 and other energy providers.

Aside from the regular tariff, a Prepay service is also conveniently available. This pay-as-you-go option provides the consumers with more flexibility and control over their electricity and gas utilization. In addition, Bulb does not impose a minimum term contract nor charge for an exit fee. So members who wish to discontinue their services are free to do so any time without additional financial obligation. 

Pros 

  • Affordable pricing – Bulb brilliantly manages to keep their costs low by choosing to invest in greater technology and partnering up only to companies with the same vision as theirs. However, the most straightforward way is that Bulb intentionally lowers its profit margin compared to competitors to simply lessen the overall cost at the member’s great advantage.
  • Transparency – From the sources of their energy down to the details in the billing statement, Bulb tries to disclose relevant information to make it easier for the consumers to understand the system. No hidden costs and a 60-day notice will be given to its members in cases of price adjustments.
  • Verification – Every unit of renewable energy acquired and supplied by the company are duly accredited and verified. As for the electricity, it is regulated by Ofgem. While 10% of the renewable gas is verified by the green gas industry. Furthermore, the carbon offset projects are also validated by different organizations such as the Gold Standard, Verified Carbon Standard, or the UNFCCC’s Clean Development Mechanism.
  • Hassle-free Transition – When a client decides to switch to Bulb, the company thoughtfully extends its assistance to new members by taking the initiative to inform the old supplier about the transfer of service. In addition, the company would even gladly refund the exit fees should there be any. Moreover, for every switch, Bulb generously donates £1 to a charity called Edible Playgrounds by Trees for Cities.

Cons

Bulb is well-known to deliver highly satisfactory customer service as manifested in its TrustPilot score of 9.6 as of writing, which is the highest in the industry

Some of the things that we have to be able to dig up as customer complains are: 

  • Meter-reading Discrepancy – There were several instances that Bulb had provided an incorrect meter reading to its members. Majority of the cases were due to incorrectly reported numbers during transition from another supplier or due to improperly installed units of smart meters. 
  • Bill Correction & Refund – Ideally, the standard processing time is about 3 to 5 business days. However, sometimes we saw reports where it’s taken up to 10 business days for the Bulb support team to correct the billing statement or issue a refund.
  • Helpdesk Availability via Phone – The phone availability schedule is limited to Mondays through Fridays from 9 am to 6 pm only. This is partially to keep costs as low as possible, but some complains have been seen around this.

Overall, Bulb Energy Ltd is a privately financed energy company with an ambitious aim of providing renewable electricity and gas supply in the simplest, cheapest and greenest way it can possibly be. Bulb takes in their core values seriously thus they are proactively thriving to promote measures to conserve the environment from the harmful aftermaths of irresponsible energy production. This UK-based company is currently only servicing UK consumers, but will soon cater to the international market with France, Spain, and Texas for a start.