The power conversion efficiency of solar cells based on a conjugated polymer (donor) and a fullerene derivative (acceptor) is very sensitive to the morphology of the active layer. One detrimental feature, which is often encountered in non-optimal morphologies, is the occurrence of fullerene blobs in a finely mixed matrix containing both donor and acceptor material. Here, the effects of such fullerene blobs are studied in detail with a three-dimensional drift-diffusion model. It includes the effects of exciton diffusion and quenching; space-charge; recombination, generation, drift and diffusion of charge carriers; and the injection/extraction of carriers at the contacts. The influence of blob size and shape, and matrix composition are quantified. The latter has the strongest effect on the overall efficiency, as most of the current is transported through the mixed phase. The total current flowing out of the solar cell can be split up in a part which comes from the interfacial region between the acceptor phase and the mixed phase, and a part that stems from the mixed phase itself. Depending on the bias voltage and the morphology, one or the other contribution is dominant. Finally, it is shown how both contributions can be computed with a simple one-dimensional drift-diffusion simulator.