Bulb Energy Ltd. For Your Home and Business
Bulb Energy Ltd, founded in the United Kingdom in 2013, is an energy supply company providing both homes and businesses with affordable and renewable energy like wind, solar, hydroelectricity, and gas.
Since the start of 2018, there has been over a 750% increase in customers, implying that its development strategies have been a success, reflected by its large, loyal customer base. Likewise, Bulb has a revenue of well over £1.5 billion, meaning that there are sufficient means left for product improvement, marketing, growth and profit. If you would like to read more information or learn more about the pricing of business energy, you can do so here.
History of Bulb Energy
In 2013 the company was formed into a legal corporation known as Regent Power Ltd, with Hayden Wood managing the business. Initially, there was little funding and only from family, friends and personal savings; however, as the company grew and generated a profit, more assets were invested by investment firms like JamJar; currently, there are four investors and around £60 million in funding.
Mission of Bulb Energy
Bulb energy has three sole, simple principles. These comprise simpler, cheaper and greener energy to the public.
More straightforward energy suggests that the process of energy supply and maintenance should be easier and faster, accessible by everyone and manageable by phone. The phone app ‘Bulb’ is an application downloadable by mobile devices where you can submit meter readings either manually or via the phone camera and view your balance.
Your past energy records can be seen instantly, and energy usage is displayed in graph form. It is more easily visualised, and you can see when more is used or if there are any abnormalities. Credit can be topped up from anywhere for electricity or gas through a credit card.
One of the main aims of Bulb is to contrive more affordable energy. This is done by using less costly methods to obtain energy like gas, solar and wind, which does not cost as much as non-renewable methods. Moreover, the government offers many businesses incentives like funding and support in exchange for them using renewable energy so that the business can then sell the energy for cheaper due to generating more money from it.
Green energy comes from renewable sources, denoting that it is continuously replenished, hence why it is sustainable and more beneficial for the environment. Likewise, Bulb uses 100% carbon-neutral gas, meaning that carbon dioxide is emitted into the atmosphere in production is also removed by carbon offset.
Bulb supports carbon-reduction projects internationally and donates £2 for every member that joins the Bulb Foundation charity, founded by Bulb in 2019, which challenges the climate crisis by deaccelerating the rate of climate change and assisting those impacted by the devastating effects.
Products and Support
As previously mentioned, Bulb supply energy to customers using solar, wind, hydroelectricity and biogas. Furthermore, they encourage clients to install smart meters to view meter readings instantaneously, track usage through charts, and send more accurate and reliable bills. You will get a time and date when the engineer will arrive, taking a couple of hours to install and remove the old meters. You will consequently be handed a leaflet on how to use the smart meters so that you can view your recent energy usage from the comfort of your own home.
Bulb offers priority support for vulnerable customers that may require additional help in the energy supply process. This could mean free gas safety checks every 12 months if you are eligible to ensure the safety of yourself and your household. Likewise, installing a free smart meter could be helpful if you cannot understand the energy statements or would like to track your live energy usage to depict where the most are used and eliminate the unnecessary practice.
Tariff
Energy bills vary based on location and usage. Generally, Bulb electricity is around 19 pence per kWh whilst gas is considerably cheaper at around 4 pence per kWh. No matter how little is spent, the standing charges for both are 27.4 pence per day, meaning that even if less than this is spent, this is the minimum price that will still be charged.
Prices are variable, meaning that they can differ monthly; however, there are notices one month prior so that you are informed of any changes. Bills can be paid monthly and sent by post or through pay-as-you-go, where you can top up your desired amount of credit whenever you see that it is getting low.
Unlike the majority of other energy companies, there is no variety of deals. Instead, Bulb has opted for a straightforward plan that is the only one available. It thus ensures equality amongst its customers and avoids the hassle of researching each plan and questioning which is the most suitable for you. There is no exit fee, so leaving is free of charge if you decide to switch providers.
Bulb Energy for your Home and Business
A central selling point for Bulb over other energy suppliers is that they supply electricity and gas to both homes and businesses. Bulb claims to power over 11,000 businesses, from baby-related companies to hot drinks companies. The most famous brand they support is Innocent Drinks, a London-based business that similarly combats climate change; examples of their sustainability include using recyclable bottles, reduced water usage and giving a proportion of their revenue to charities.
Bulb is the sixth biggest energy provider in the United Kingdom. Whilst is it good for the environment and has transparent pricing. There are also problems associated with being in this business. A combination of increasing gas prices and less global production meant that Bulb, like many other energy suppliers, had to increase its prices. Some bills increased by almost double, leading to multiple customer complaints. Due to this, Bulb had a £63 million loss by March 2020, and there are now talks of rival companies seeking shares in stock to take over, more specifically by the Octopus Energy Group. Despite this, Bulb continues to supply energy to its many customers.
Other useful links about Business Energy
What are Average Business Energy Bills?
Switching Business Utilities
EDF Energy for your Business
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