Add your feedback on energy supplier Powershop

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  • System
    System Posts: 178,076
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    neilsedaka wrote: »
    I am wondering how you know that? Are you able to enter your pre-July Powershop tariff into the PCW that you are using?

    The PCWs and suppliers that I have looked at over the past few days are not ‘permitting’ comparisons with the powerpack discounted ‘tariff’. I was looking at Bulb a moment ago, and I was only able to tag Easy Saver Promise Jun 17. Out-of-interest, Bulb comes in a £25.90 a year less than the Easy Saver Promise. Powerpacks might save me a further £2 a month more.
  • fredandwilma
    fredandwilma Posts: 1,251
    Chutzpah Haggler I won, I won, I won! Rampant Recycler Debt-free and Proud!
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    edited 23 July 2017 at 7:37PM
    fewkeste wrote: »
    @fredandwilma


    There is no trick or conspiracy going on here - just join and give it a go.

    I'm very happy with my current tariff and supplier, but thanks for the offer.

    I'm highly unlikely to be 'switching' for 359 days. :)

    (It's the final countdown). :D
    fewkeste wrote: »
    @Hengus

    PS customers are not 'normal' customers. They are likely to be of a 'higher calibre'. i.e. they are likely to be more aware, more informed, more able to calculate the consequences of any adverse changes to prices/tariffs/discounts to their annual costs and more likely to readily 'jump ship' if changes to the offer negatively impact them.


    PS typical customers are not 'run of the mill' energy customers - to understand and exploit to the maximum the offer PS makes, the customers have to be engaged and understand their consumption and bills. Customers like that don't just sit idly by and suffer price rises and let disappearing/diminishing discounts happen - they take action and move.

    It takes an engaged customer to understand and get the best out of a PS supply contract. That same person would not simply sit there and suffer disadvantageous prices or promised discounts that don't materialise - they would leave - PS must know this.

    I applaud your enthusiasm for PS.

    I hope everything is as you expect it to be, but remember, you can't keep switching to and from PS.

    I am clearly not of a 'higher calibre'.

    I could be a high calibre ferret? There's a thought. :rotfl:

    My concern is not for the 'engaged' customers, more for consumers who are less savvy and less informed, who sign up via a PCW.

    Let's face it - It's a lottery?

    Not everyone reads the energy forum on MSE.


    Note - My comparison shows Powershop Easy Promise Saver 2017, £37 a year more expensive than my current tariff. That's a large sum considering I'm a low user of electricity, and it would definitely be a lottery trying to attain lower prices. It's just not worth the effort.
    Fred - Where's your get up and go?

    Barney - It just got up and went.



    Carpe diem
  • neilsedaka
    neilsedaka Posts: 396
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    Hengus wrote: »
    The PCWs and suppliers that I have looked at over the past few days are not ‘permitting’ comparisons with the powerpack discounted ‘tariff’. I was looking at Bulb a moment ago, and I was only able to tag Easy Saver Promise Jun 17. Out-of-interest, Bulb comes in a £25.90 a year less than the Easy Saver Promise. Powerpacks might save me a further £2 a month more.

    I have just tried a Bulb comparison - entering Powershop Easy Saver Promise 2017 (there were earlier ones to pick from too). For me Bulb's suggestion comes out (by Bulb's calculations) £26 a year more than my Powershop Easy Saver Promise 2017.
  • fewkeste
    fewkeste Posts: 534
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    neilsedaka wrote: »
    I am wondering how you know that? Are you able to enter your pre-July Powershop tariff into the PCW that you are using?
    I have a spreadsheet. I know my annual consumption, I entered that into a PCW and found the cheapest deal. I know my expected Pioneers (shopper) effective equivalent tariff which is calculated by PS based on taking advantage of all the Powerpacks and so I just calculate my annual cost. So for me my annual cost at Standard tariff is £1048.92, my annual cost using the Pioneers (shopper) tariff that I can achieve if I buy all the Powerpacks is £819.40.

    So, to answer your question I don't enter a pre-July tariff into a PCW, I calculate the annual cost myself.

    Hope that helps.
  • System
    System Posts: 178,076
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    edited 23 July 2017 at 7:56PM
    neilsedaka wrote: »
    I have just tried a Bulb comparison - entering Powershop Easy Saver Promise 2017 (there were earlier ones to pick from too). For me Bulb's suggestion comes out (by Bulb's calculations) £26 a year more than my Powershop Easy Saver Promise 2017.

    Look for the £50 referral code. They are everywhere.

    Here goes:

    https://community.bulb.co.uk/discussion/234/refer-your-friends-and-get-50-each/p3
  • neilsedaka
    neilsedaka Posts: 396
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    Hengus wrote: »
    Look for the £50 referral code. They are everywhere.

    Here goes:

    https://community.bulb.co.uk/discussion/234/refer-your-friends-and-get-50-each/p3

    Thanks. I reckon I will be beating that by buying Powershop Powerpacks.
  • fewkeste
    fewkeste Posts: 534
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    I am clearly not of a 'higher calibre'.

    I could be a high calibre ferret? There's a thought. :rotfl:

    My concern is not for the 'engaged' customers, more for consumers who are less savvy and less informed, who sign up via a PCW.

    Let's face it - It's a lottery?

    Not everyone reads the energy forum on MSE.


    Note - My comparison shows Powershop Easy Promise Saver 2017, £37 a year more expensive than my current tariff. That's a large sum considering I'm a low user of electricity, and it would definitely be a lottery trying to attain lower prices. It's just not worth the effort.
    To address the above points:

    If you know your annual consumption and given a tariff you could calculate your expected annual cost then I would say you were a 'higher calibre person':rotfl:

    If you can't or you don't care you are probably not:D

    For the less savvy customers I say this is Natural Selection in the energy supply world - get a grip, do your homework and be your own expert or lose out.

    Harsh I know but reality I'm afraid.

    Your Easy Saver promise is not the best you could achieve with PS. You could probably achieve greater savings with optimised Powerpack purchases over a year. The Easy Saver Promise is merely a sub-optimal safety net not an example of the best you could achieve.
  • fredandwilma
    fredandwilma Posts: 1,251
    Chutzpah Haggler I won, I won, I won! Rampant Recycler Debt-free and Proud!
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    Mse article on Powershop:


    http://www.moneysavingexpert.com/team-blog/2017/06/01/6338/


    A positive article, however it does say:
    But it’s not for everyone

    I think the main one, though, is that you need to engage regularly to get the best rates – perhaps daily. This is a tough sell in a market where two-thirds of people won’t even switch from expensive standard tariffs, despite the huge savings available.


    I think maybe for "less savvy customers", especially those who won't switch in the first place, Powershop won't be for them, however much you want to try and convince them. Some people will always be resistant to change, effort or being proactive? That's their decision.

    For myself - I like to think i was ahead of the game. I too, was a serial switcher. I followed the energy market and (correctly) forecast the exact point where it was going to change, at which point, I took a long fix, which turned out to be exactly the right point and fix, for me personally. I know when i receive my annual statement, the amount will be within a few pounds, (which isn't bad going,) barring unpredictable / unexpected weather conditions which has an impact on my energy usage. There's no predicting the weather?

    Since then, of course, I still follow the energy market, and whilst others have kept changing tariffs and suppliers, I've found my tariff, unbeatable. I simply don't need to play the game, or the energy market, right now.

    Maybe there are different types of 'high calibre'?

    I took a long fix / fixed tariff. That too, is just an alternative way of playing the energy game.

    Sadly, all good things come to an end, eventually.

    Would i consider Powershop? Of course, I'll consider all tariffs and energy companies when my fix is nearing an end, (I'm always comparing). But for me personally, I prefer the stability of knowing exactly how much I'm paying for my energy when i enter a contract, and it is still possible to get similar rates using more 'traditional' tariffs.

    All i have to do is sit back and do precisely, nothing.
    Fred - Where's your get up and go?

    Barney - It just got up and went.



    Carpe diem
  • fewkeste
    fewkeste Posts: 534
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    I think maybe for "less savvy customers", especially those who won't switch in the first place, Powershop won't be for them, however much you want to try and convince them. Some people will always be resistant to change, effort or being proactive? That's their decision.

    I quite agree.

    I know when i receive my annual statement, the amount will be within a few pounds, (which isn't bad going,) barring unpredictable / unexpected weather conditions which has an impact on my energy usage.

    QED - 'high calibre' behaviour demonstrated - you know what your annual bill will be - you've done the calculations.
  • fewkeste
    fewkeste Posts: 534
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    fewkeste wrote: »
    Future Packs become available on the 1st of the month after which they are named. So for example the Future Pack named November, the moment 1st November comes along, it becomes available to cover the accounting period of October that ends in November. It might cover debt prior to October (I'm not sure) rather like the blocks building up in Tetris if that makes sense.
    I can now clarify this statement. Future Packs will cover any debt in the period for which they are valid. So, in the above example, a November Future Pack will cover debt only as far back as the start of the accounting period they are named after. So, for my account for example, the November Future Pack will cover any debt in October from the start of the November billing cycle (in my case 5th October to 3rd November.) It can't be used to settle any debt prior to the billing cycle after which it is named. i.e. November Future Pack credit can't be used to settle August debt - that would have to be done by Special Packs that are/have been purchased.

    Also,to quell any concerns of other forum readers, PS have also confirmed any unused credit left is carried forward to the next billing cycle. (I knew that.)

    Hope that helps - every day is a learning day - 26 days since I went online with PS and I'm still learning:)
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