Bulb Energy plans to save customers £60bn on energy bills Bulb Energy review

Speaking to This is Money, Bulb Energy’s co-founder and chief executive Hayden Wood has confirmed that the energy supplier plans to save customers £60bn on energy bills over the next 10 years.

Over the course of the next decade, Wood plans to supply 100 million customers globally, with the aim of making £50 profit per household. If these targets are achieved, this will take the company’s turnover to around £1.8bn.

However, Wood isn’t purely focused on the financials and he’s also considering ways the company can be more environmentally conscious. He labelled the climate crisis “a race against time” and stated that “if we deliver our plan we think we will be able to save around £60billion on people’s energy bills and around 800 million tons of carbon dioxide”.

On top of this, he also discussed Bulb’s ambitious growth plans, which include the potential for floating the company on the stock market, the rollout of new home battery technology and an app that will connect to customers’ electric vehicles and automatically charge their cars at the cheapest times of day.

If you’re interested in Bulb’s tariffs and growth, you can run an online energy comparison and switch to the provider today.

Bulb’s rapid growth and awards

Since its launch six years ago, Bulb Energy has gone from strength to strength. Back in 2015, Wood started the company because he felt that the energy market was broken due to the dominance of the traditional ‘Big Six’ suppliers.

In creating Bulb, he hoped to create a cheaper, greener and simpler alternative. Ever since launching, the company has grown rapidly. Now, the company has 1.7 million customers and the supplier has even expanded overseas to France, Spain and Texas.

Over the past few years, Wood estimates that the company has won “hundreds of thousands” of customers who have switched away from Big Six firms like British Gas. In fact, Bulb now has so many customers that the company is the sixth biggest energy supplier in the UK. Bulb’s rapid growth means that in March the company was named as Europe’s fastest-growing start-up.

It’s easy to see why customers are switching to Bulb Energy, too. In our review of Bulb Energy, we found that the company was one of the best energy suppliers in the UK today. But, don’t just take our word for it, the company is also rated ‘excellent’ on Trustpilot and was voted as the Uswitch ‘best value for money’ winner in 2020.

Switch to Bulb Energy today

Wood claims that Bulb is the cheapest UK energy supplier over a two-year period. This is because other firms switch customers on to higher standard variable tariffs after a year through a so-called ‘loyalty tax’. As a result, if you’ve been with your supplier for longer than 12 months, you could save a considerable sum by switching to Bulb.

The whole process is simple and straightforward because the supplier is a member of the Energy Switch Guarantee. This means Bulb will take care of the switching process with your old supplier, and complete the switch within 21 days.

You can switch directly with the supplier or you can use an independent price comparison service. By using an energy comparison service, you’ll also get a clearer picture of how Bulb compares to other suppliers. What’s more, you’ll be able to accurately compare Bulb’s tariff to the best energy deals in your area and find out exactly how much you could save by switching.