Welcome Bulb Spain at IESE
Last week we were delighted to welcome Bulb Spain at IESE campus in Barcelona. Bulb is a 100% renewable energy supplier founded in the UK only 4 years ago. It has since been recognised as UK’s fastest-growing private company for second year running, acquired more than 1.6m customers, raised over £60m in venture capital and certified as a B-Corp. Spain is one of its first expansion markets, and we were lucky to meet some of the team to learn about the industry, disruption and their exciting growth plans.
From a consumer perspective, energy is a problematic sector in Spain. For example, the average amount of time that it takes to get through to customer service over the phone is 41 minutes! Moreover, many consumers find tariffs and energy billing confusing which often leads to overpaying. Bulb are looking to change this through simple, easy and intuitive customer experience – both digital and human. Yet this quality improvement will not come at additional cost; in fact Bulb are cheaper than most utility energy providers and can save consumers over €125/year due to their investment in automation technology.
The 100% renewable promise is at the very core of the business. In fact, Bulb’s mission is to help lower carbon dioxide in the atmosphere as well as lowering consumer bills. The business purchases energy from renewable producers, and is also exploring how to help consumers generate their own energy. This is a particularly exciting growth area in Spain given the sunny climate.
Finally, we learnt how much value Bulb place on company culture. They do not outsource any of their functions, and bring in talent from far beyond the traditional energy sector. This helps bring in fresh perspectives and diverse skillsets, both of which are key to their disruptive challenger mindset.
Visit their website to learn more at https://bulb.es/. We thoroughly enjoyed the session, and hope to welcome Bulb Spain at IESE again in the future.
If you are interested in other ways the energy industry is undergoing disruption, join us on 27th March for Global Energy Day at the IESE Campus in Barcelona.