If you are experiencing financial difficulty, we’ve partnered with Tully to help you manage your monthly energy payments. Tully is an independent organisation that helps people keep on top of their finances and is authorised by the Financial Conduct Authority (FCA) to provide debt advice.
They’ll ask you for some information to find out what you can afford to pay towards your energy. And they’ll help us to understand if we should adjust your monthly energy payments.
Tully will analyse your financial information and make a recommendation to Bulb
Tully will make a recommendation to Bulb every 30 days over a 90 day period, about the amount you can afford to pay towards your energy bills. They will do this by analysing your transaction history and financial information. With your consent, this may result in your energy payments automatically increasing or decreasing.
We will always provide 10 working days’ notice of any payment or direct debit changes which occur as a result of Tully’s recommendation. A ‘working day’ is Monday to Friday, excluding English public holidays.
How we use information from Tully to make automatic decisions about your monthly payments
We will make an automated decision about what amount you should be paying towards your energy bill based on the recommendation we receive from Tully. We've set out an example below so you can understand the logic behind this automated decision making. If you need further information please contact firstname.lastname@example.org
- A member’s monthly payment amount with Bulb is £50 a month, which is based on the member’s energy usage. However, they also have a £120 worth of debt on their Bulb account from previous energy usage which they need to pay off - Bulb recommends that they pay this off at £10 a month over the course of one year. Taking these two monthly amounts together, the member’s suggested payment amount is £60 a month (£50 for their energy usage and £10 for their monthly debt repayment).
The member gives consent to Tully, who works with financial service Openwrks to understand the member’s income and expenditure from the financial information and transaction history of the member’s bank account. Tully will create a budget, including the amount that is affordable for the member to pay Bulb right now.
In this case Tully’s budget shows that the member cannot afford to pay the £10 a month towards their outstanding debt. Bulb automatically lowers the member’s total monthly payment to £50 a month for 90 days. Bulb will notify the member of this change 10 working days’ in advance via email. This means that the payment for the outstanding debt will be spread out for a further period of time.
For another 60 days, Tully will continue to provide Bulb with updates each month on how much you can afford to pay towards your energy.
- After 60 days, Tully’s budget shows that the members’ income has increased and they can now afford to start paying off the outstanding debt. Bulb contacts the member 10 working days’ in advance of the amount being taken from the member’s account, letting them know that their payments will increase back to £60 to start paying their outstanding debt off too.
Every 30 days Tully will update Bulb about whether this budget is still accurate. We will never ask you to pay more than you can afford based on the recommended budget created by Tully.