The traditional energy market has been dominated by the big 6 companies for decades. Consumer energy in the UK has long been associated with rising prices, poor customer service and high profits for incumbent firms, however, startups like Bulb have become increasingly popular with customers looking for easy onboarding and bill management, and cheaper energy deals.
Bulb provides 100% renewable electricity to homes across the UK, France, Spain and Texas and 100% carbon offset gas in the UK. It supplies green energy as standard, with fair pricing and technology to help its members manage and reduce their energy use. It was the first energy supplier in the UK to become a certified B Corp and has been highly regarded for its exceptional customer service.
Despite its huge success with customers and massive growth since its founding, Bulb was put into special administration in late 2021 - leaving about 1.6 million customers needing a new energy supplier - after surging gas prices exposed firms that weren’t protected by buying energy in advance.
As of 2022, Bulb is being run by the government, but Octopus and Ovo Energy are two companies that are currently weighing a bid to buy Bulb. The winner will land a big chunk of the market share. The UK Business Secretary is confident that a buyer for Bulb will be found sooner rather than later.
Freddie
Company Specialist at Welcome to the Jungle