Major update for thousands of Bulb customers after Octopus Energy takeover – check if you're affected | The Sun
OCTOPUS Energy has issued an update for Bulb customers who are still waiting to switch accounts.
A further 75,000 Bulb customers will have their accounts transferred over to the energy giant by the end of the month.
It comes after the supplier told The Sun that 1.35million ex-Bulb customers have already had their accounts switched.
It comes after Octopus Energy said in October 2022 that it would take on all 1.5million Bulb customers.
The troubled energy supplier fell into administration back in November 2021.
Right now, 90% of the customers taken on now have Octopus Energy accounts.
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But by the end of the month, Octopus expects that 95% of Bulb's old customer base will have transitioned to Octopus.
The latest move means that from June, around 75,000 remaining Bulb accounts need to be switched over.
If you haven't had notification of a switch yet and are waiting to move to Octopus Energy – you don't need to do anything.
Octopus will contact you over the next few weeks to explain when your Bulb account will switch to its systems.
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You'll receive an email from [email protected] containing everything you need to know.
The transfers won't interrupt a customer's supply, bills or meters.
Once your account has been moved to Octopus, you should receive a final bill from Bulb.
In the meantime, Octopus Energy has told Bulb customers waiting to switch not to get in touch as the whole process will be initiated automatically.
Bulb customers should also continue to manage their bills and payments on the company's website until they're provided with their new Octopus account details.
An Octopus Energy spokesperson said: "We're delighted to have already moved 90% of Bulb customers to our new system in just three months – a record for the industry.
"When customers switch, they are immediately ready to go with their Octopus Energy account and app.
"In the meantime, prices are the same for both Octopus and Bulb, and the Bulb team are continuing to support their customers until they’ve moved across to Octopus."
At its peak, Bulb was the country's seventh largest energy firm and provided gas and electricity tariffs to 1.7million households.
However, it collapsed into administration in November 2021 when amid rising wholesale energy costs which led to the current energy crisis.
Bulb was the biggest provider to go under after several other smaller firms failed to stay afloat.
But unlike, the smaller suppliers which went bust with hundreds of thousands of customers, Bulb had over one million.
This meant that Ofgem couldn't simply get another supplier to take on all its customers, as it has done with the 28 other firms that collapsed in 2021.
Instead, Bulb was placed into special administration – which meant that it was allowed to operate as normal and customers don't need to do anything.
In this format, the company was kept afloat thanks to the input of £4billion worth of tax payer cash.
But in October last year, Octopus announced a deal with the government to buy Bulb and take on its 1.5 million customers, backed by the Government.
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In 2021, Octopus Energy took on 580,000 Avro Energy customers after the supplier went bust.
Octopus Energy now serves 4.5million domestic households under is main brand and subsidiary brands.
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