Bulb would have been ok with only offering svt as the price cap takes into account a small margin for suppliers. Under normal market conditions they could have weathered the storm of slightly increased costs with their hedge and waited for the next price cap announcement, but with such a rapid increase in costs that’s what’s put them at risk.
I am not close enough to it but with Bulb, I am not sure the small margin would of been enough as they have a large debt to service due to their rapid growth and customers on fixed tariffs were already loss making but you could be right.
Bulb would have been ok with only offering svt as the price cap takes into account a small margin for suppliers. Under normal market conditions they could have weathered the storm of slightly increased costs with their hedge and waited for the next price cap announcement, but with such a rapid increase in costs that’s what’s put them at risk.