Energy provider Bulb has today entered energy supply company administration, with the business continuing to supply energy to its customers and operate as normal under a Special Administration Regime (SAR).
A SAR is a long standing, well-established process available to protect consumers and ensure continued energy supply when a large provider fails.
The move follows Bulb announcing its insolvency on Monday, November 22 with the company continuing to supply energy to its customers.
Bulb customers will not experience any change or disruption to their energy supplies as the appointment of energy administrators will see Bulb continue trading and fulfilling the terms of its supply licence.
Bulb customers, including those with prepayment meters, do not need to do anything and customers’ existing credit balances are protected.
Customers will not see any immediate increase to their energy bills while the company is under the administrators, and do not need to look for a new energy supplier, although they are free to do so if they wish.
Energy Minister Greg Hands said:
Our overriding priority is to protect consumers and the appointment of administrators will ensure the supply of energy remains normal to Bulb customers across the country, providing vital reassurance while an enduring solution is agreed.
“The administrators will now take temporary charge of operating Bulb, and that includes ensuring if a new owner cannot be found customers are safely moved to another supplier.”
