After almost a full year of negotiations, Bulb have announced that their 1.5 million UK customers will be taken on by rival energy company Octopus.
Bulb went into special administration in November 2021, but unlike other energy companies that collapsed around the same time, it wasn’t able to have its customers moved to another supplier immediately due to its large size.
For the past year Bulb has been run using billions of pounds of government support, however, the Department for Business, Energy and Industrial Strategy has allowed Octopus Energy to take over.
Octopus has said that the move will “provide good value for taxpayers and end an uncertain time for Bulb’s customers and team.”
But what do Bulb customers need to know? And is there anything they need to do ahead of the move?
I’m a Bulb customer, what happens now?
The switch for Bulb customers is expected to take place at the end of November 2022 and will happen automatically.
The Octopus website states customers will be contacted by the Bulb team in due course and that they should not take any action.
If you’re a Bulb customer, your direct debit will continue as normal and your energy supply won’t be affected i.e. your gas and electricity will not be switched off.
If you have a credit balance at Bulb it will be moved to Octopus.
However, the consumer watchdog Which? has recommended that Bulb customers take meter readings (as well as take photos to prove the date they were recorded) and take a note of their credit to make sure that the transfer is correct when it does happen.
Government support schemes such as the Warm Home Discount and Energy Bills Support Scheme will also continue as normal.
For more information, Bulb customers can check out Octopus’ dedicated FAQs page here.