Bulb Energy, a UK-based green electricity provider, was declared insolvent in the UK at the end of November. Indeed, rising energy prices impact suppliers and prevent them from being profitable. In England, no less than 20 suppliers have gone bankrupt since August! Will the situation also affect French consumers?
Stopping the Bulb in France! Bulb has announced that it will cease its activity in France on January 20, 2022. What impacts for customers ?
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Bulb Energy UK on the brink of bankruptcy
lamp in britain
While Bulb Energy provides over 1.7 million UK customers, was considered insolvent. Placed under special administration, it risks bankruptcy. A blow to the British market! The lamp represents approx. 5.5% of the electricity market and 5% of the gas market.
As a result, it is England’s seventh largest supplier. As such, it is “three times more important” than the other energy providers that have gone out of business since last summer’s price spike.
Lamp “will continue to operate without interruption of service or supply to its customers”. press release
Teneo new admin of Bulb
O establishment of a special administration regime protects UK consumers from supplier bankruptcies. It is Teneo, a management consulting firm, that will be responsible for piloting Bulb Energy UK.
Teneo was named Bulb’s special administrator. Teneo will work with Bulb’s existing management team and broader stakeholders. The special administration regime allows a company to continue to trade normally and, if circumstances permit, to be sold at the appropriate time, in whole or in part.. UK press release bulb
In France, a similar system is foreseen, that of “reserve suppliers”: the latter assume responsibility if a supplier defaults.
What impact for French customers?
Update 01/20/2022 Bulb announces its withdrawal from the French market, following the rise in energy prices.
Bulb Energy sells electricity from renewable energies in France. The British situation does not affect the supplier in France. Bulb’s French customers therefore have nothing to fear.. On the other hand, it is no longer possible to sign Bulb as a new client.
Bulb França is working normally. If you are already a member, we will continue to provide your energy supply and our usual services. Bulbo France website
Green energy: who to sign with?Other providers offer green electricity offers on the market. ilek, ekWateur, Alpiq, Planète OUI and TotalEnergies have green electricity contracts and are accepting new customers. To find the best deal, you can compare providers.
Have suppliers gone bankrupt in France?
In France, the rise in prices will have, for the time being, led to Hydrotion bankruptcy, supplier to the prefecture of Paris and the French army. To protect themselves, other providers have decided to wait before re-offering energy. Thus, Vattenfall or Cdiscount Energie, for example, fail to attract new customers.