While the big six energy suppliers are busy raising their gas and electricity charges, renewable energy provider Bulb has announced that it is cutting its tariffs by around 3% next week.
You may not have heard of Bulb. They are a small startup energy company supplying 100% renewable electricity and 10% green gas at the lowest possible prices.
To keep things simple, they offer one tariff for electricity and gas, and claim that it’s the lowest offered by any 100% renewable electricity company in the UK.
It is intriguing to see how a smaller energy company can reduce their charges when the big six companies are trying to convince their customers that market conditions are driving up their costs which must be passed on to consumers.
On the other hand, Bulb have seen a large fall in their wholesale costs this year, presumably due to their mix of renewable energy sources, which allows them to pass savings onto the consumer as quickly as possible.
The average Bulb customer pays around £1000 for their energy, so a 3% saving from Monday 24th April will reduce their energy bills by £30. If those same customers were with EDF, who will be increasing their electricity costs for the second time this year, they will be paying well over £100 extra per year.
Not only are Bulb customers potentially saving money, compared to the larger energy providers, but they are consuming renewable energy from various green resources.
Bulb ensure that for every unit of electricity their customers use, a unit is produced and put on the grid by a pollution free renewable source like Llyn Brenig Hydro in North Wales.
In addition, 10% of their gas comes from biomethane. Which is gas produced from organic matter like sewage and manure.
Bulb is also committed to supporting independent renewable generators by offering transparent, simple and competitively priced Power Purchase Agreements to generators with an installed capacity greater than 100kW.
Update 24th April 2017
Writing this article set me thinking that our family should consider switching to Bulb for dual fuel electricity and gas. I have written this article to explain why I have decided to switch to Bulb.