Lisa Barber, Which? Home Products and Services Editor, said:
“The collapse of Bulb – by far the biggest supplier to fail in recent months – demonstrates the seismic impact the energy crisis is having on the industry and millions of consumers. Bulb’s customers don’t need to panic as their energy supply won’t be cut off and their tariff won’t change. If you have already arranged to switch to or from Bulb, this will continue as planned.
“Doing nothing and waiting for information about the special administration process is likely to be the best bet for now as Bulb customers will continue to see their bills limited by the price cap, which is likely to be the best deal for you at the moment.
“Due to current high wholesale prices, there are few savings to be made by switching and some suppliers are not taking on new customers. However, customers can research potential suppliers using sites like Which? Switch that show tariffs across the whole of the market, so they are prepared when competitive deals start to reappear.”