I assume Bulb customers are being treated like other customers of failed energy companies.
Stay on their existing tariff until it expires, and then have a choice of the capped rate, or a new fixed term on current commercial rates. As no companies are offering fixed price contracts below the capped tariff, the sensible default is to go to the capped tariff (which is what I have done).
The only change is that the taxpayer is picking up the cost of taking on customers from Bulb, as no other energy company is prepared to do so.
The government had a choice - leave ex-Bulb customers to sort out their own problems or step in as "guarantor" of last resort. As they created the "rules" that dealt with how failed energy companies are resolved, and failed to regulate them properly anyway, it seems only right they should take on responsibility.
An aside - the capped tariff is due to be reviewed in February with any change (increase??) implemented from April. As the cap is costing energy companies huge amounts it is plausible that any increase will be sufficiently high to restore profitability. It may then be worth reverting to a fixed price commercial tariff.
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