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Bulb UK collapse
December 13, 2021
? ? BULB UK COLLAPSES AND IS FIRST EVER ENERGY FIRM TO BE PUT IN SPECIAL ADMINISTRATION. ? ?
Bulb is/was the UK 7th biggest energy firm, with 1.7m households as customers. The firm has now collapsed, but the brand lives on (for now) as Bulb is moving into Special Administration, unlike other collapsed firms which had their customers moved elsewhere.
Bulb will continue to supply energy, yet now be run by an appointed special administrator, with Bulb customer service staff still there to answer queries. The ‘special’ means they must consider customer’s interests as well as creditors (those Bulb owed money to), and if needed can request funding from the government.
What should customers do? In brief… DO NOTHING. Bulb is still your supplier – just under new management.
– Keep paying your direct debit.
– Its rates were already at the price cap, so you will stay on that rate
– Customer credit is protected, so if it owes you, it still owes you
– Do NOT switch. No tariff is meaningfully cheaper, in fact most switchable tariffs cost 30%+ more.
If you need specialist energy advice, please give our team a call on 0300 330 9027.