Certified green energy supplier becomes first in UK to cover switching fees
Renewable energy supplier Bulb has become the first UK supplier to offer to pay-off exiting tariff fees to new customers and businesses who decide to switch suppliers, just a week after receiving new certification for its transparency towards environmental impacts.
Consumers deciding to switch to bulb will have their exit fee -generally costing around £60 – covered by the company. After providing a photo or scan of the final bill, Bulb will then add the exiting fee credits to the customer’s new account.
Bulb also announced that it will offer a transparent tariff that averages out at 20% cheaper than standard “Big Six” tariffs and those provided by other energy suppliers.
Bulb co-founder Hayden Wood said: “We’re passionate about giving people the freedom to choose where they get their energy from. For years UK consumers have been getting a raw deal from their energy supplier. Fear of costly exit fees is a significant barrier for people who want to switch, locking them into expensive tariffs.
“One of our Bulb community members suggested we refund any fees from switching. We thought it was a fantastic idea and decided to make it happen. We don’t charge exit fees ourselves, and we’re now refunding members who were charged exit fees by their last supplier.”
The announcement comes a week after Bulb was awarded B Corp status, becoming the first energy supplier to receive the certification, due to meeting ‘rigorous’ standards of environmental and social responsibility and providing a high standard of accountability and transparency.
Certified B Corporations are legally required to consider the impacts of its corporate decisions on their stakeholders, employees and suppliers as well as potential community and environmental impacts.
Low cost renewable energy suppliers – including the likes of Ecotricity and Good Energy – are beginning to gain viability in the supplier market. Last year, independent renewable energy supplier SmartestEnergy saw its new energy label certified by the Carbon Trust.
The label specifies the source and carbon footprint of a company's electricity supply in a bid to boost business confidence in renewables.