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  • Tafrock
    Tafrock Posts: 747
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    My thoughts exactly fewkeste. I wouldn't anticipate high future pack discounts until November 2018 now if this this year's pattern is followed. The simple saver for this month has a higher discount than March's future pack. Luckily I am 174 in credit so that should easily see me through that period with a few special top up packs thrown into the mix. I don't buy unless discount is at least 20per cent now. This is working so well for me that my per kWh unit cost for October was 9.54p. That's an incredible saving
  • Yep I am thinking it's very unlikely until Oct/Nov next year - I'm over £140 in credit though, my projection is only £260 for whole of the next year!

    I've maxed January pack - I next get paid after Christmas, so Feburarys will have to be my late Christmas gift to myself!!
  • Tafrock
    Tafrock Posts: 747
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    edited 14 November 2017 at 9:22AM
    Well that took me by surprise. Winter jumbo pack has just landed in the shop with a huge discount of 37.2%. That's incredible. Everyone must buy this one. Available until 28th November. My pack is 11.88 and it gives me 18.92 worth of power.
    Cheers powershop
  • Boohoo
    Boohoo Posts: 1,049
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    Tafrock wrote: »
    Well that took me by surprise. Winter jumbo pack has just landed in the shop with a huge discount of 37.2%. That's incredible. Everyone must buy this one. Available until 28th November. My pack is 11.88 and it gives me 18.92 worth of power.
    Cheers powershop

    I noticed that early this morning and bought 1 pack.
    Mine was £10.60 for £16.88 worth of electric though.
    Still a great bargainand now i have 20 weeks of electric credit so thats me sorted for a few months.
  • System
    System Posts: 178,076
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    Boohoo wrote: »
    I noticed that early this morning and bought 1 pack.
    Mine was £10.60 for £16.88 worth of electric though.
    Still a great bargainand now i have 20 weeks of electric credit so thats me sorted for a few months.

    I don't want to worry you but after three months of asking Ofgem have yet to confirm that consumer credit is protected by the Ofgem Consumer Levy.
  • griffb
    griffb Posts: 168
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    Boohoo wrote: »
    Mine was £10.60 for £16.88 worth of electric though.
    Still a great bargainand now i have 20 weeks of electric credit so thats me sorted for a few months.

    Mine was £23.49 for £37.40 worth

    Only just been let loose in the shop (transfer date was 31 Oct). Have max'd out on future packs for Jan-Mar, and bought everything else in sight. Still way short on projected November usage, and nothing so far in place for December. Future packs are probably only covering 75% of usage. So here's hoping for plenty more packs before year end
  • Tafrock
    Tafrock Posts: 747
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    Hengus. As powershop is a wholly owned subsidiary of npower I really don't see the problem of running up a large credit. As of December I will cease buying future packs anyway due to the discount being slashed and will rely on my credit to pay for my future electricity. I'd have thought it's just as safe with a company that is a subsidiary of one if the big 6 (soon to be 5) as it is with one of the newer companies that have started up. Correct me if I'm wrong but I really don't see what there is to worry about
  • System
    System Posts: 178,076
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    Tafrock wrote: »
    Hengus. As powershop is a wholly owned subsidiary of npower I really don't see the problem of running up a large credit. As of December I will cease buying future packs anyway due to the discount being slashed and will rely on my credit to pay for my future electricity. I'd have thought it's just as safe with a company that is a subsidiary of one if the big 6 (soon to be 5) as it is with one of the newer companies that have started up. Correct me if I'm wrong but I really don't see what there is to worry about

    The legal issue that Ofgem is looking at is that PS Energy Limited is a Limited company not a white label supplier. Parent companies (UK and foreign) are not legally obliged to take on the debts of a limited company in the event that it is wound up. This is one of the reasons why Limited companies are set up for new ventures: it protects the parent company if the venture doesn’t workout as envisaged. Unlike other White Label suppliers, your contract is with PS Energy Limited not the parent supplier. For example, if you buy energy from Sainsbury’s, it is clear in the terms and conditions that you have signed up with British Gas. Similarly, for Ebico. NPower only has to take responsibility for PS Energy Ltd’s debts if it has been agreed in the contract between the two entities. There is case law on this. Hence, Ofgem still has the issue under consideration.

    I am only pointing out that your credit MAY be at risk.
  • Tafrock
    Tafrock Posts: 747
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    Thanks for explaining how it works hengus. Doesnt the ofgem guarantee apply then like it would if Ebico for example went out of business. If not why not
    https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/extra-help-energy-services/ofgem-safety-net-if-your-energy-supplier-goes-out-business
  • System
    System Posts: 178,076
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    Tafrock wrote: »
    Thanks for explaining how it works hengus. Doesnt the ofgem guarantee apply then like it would if Ebico for example went out of business. If not why not
    https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/extra-help-energy-services/ofgem-safety-net-if-your-energy-supplier-goes-out-business

    This is what it states in Ebico’s ts and cs:


    The terms and conditions below, along with the tariff, shall form the contract between you, the Customer and us, Robin Hood Energy Limited, for the supply of gas and/or electricity to your property under our partnership with Ebico Trading Limited (Ebico).

    In other words, consumers signing up to Ebico actually have a legal contract with Robin Hood Energy not Ebico. There is no similar wording in the PS Energy Ltd contract relating to NPower. The supply contract that I have signed states that my contract is with PS Energy Ltd which is a wholly owned subsidiary of NPower. That doesn’t fit the Ofgem definition of a White Label supplier.

    Ofgem seems to be taking an inordinate amount of time to answer what was a very simple question. This suggests to me that the issue is not clear cut. As I said above, it is clear in case law that a parent company does not necessarily have to accept the debts of a failed Limited company.

    I only mention it because people are building up large sums of credit. It is in my nature to be cautious about these things. The Ofgem Consumer protection only applies to Licence Holders. PS Energy Ltd does not hold a Supply Licence. Technically, I suppose it is a re-seller of energy with NPower it’s largest creditor.
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