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  • FIRST POST
    • fewkeste
    • By fewkeste 21st Apr 17, 5:18 PM
    • 123Posts
    • 101Thanks
    fewkeste
    Add your feedback on energy supplier Powershop
    • #1
    • 21st Apr 17, 5:18 PM
    Add your feedback on energy supplier Powershop 21st Apr 17 at 5:18 PM
    I'm just in the process of switching from Robin Hood Energy to Powershop and would like to receive feedback and comments about this new supplier. Apparently they are well established in Australia and New Zealand and are operating in the UK under the Npower licence at present.
Page 15
    • Hengus
    • By Hengus 14th Nov 17, 5:02 PM
    • 4,517 Posts
    • 2,693 Thanks
    Hengus
    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
    Originally posted by Tafrock
    This is what it states in Ebicoís 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 doesnít 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 itís largest creditor.
    • Tafrock
    • By Tafrock 14th Nov 17, 7:44 PM
    • 24 Posts
    • 18 Thanks
    Tafrock
    May I ask how much credit you have built up hengus. After purchasing today's hugely discounted jumbo pack I am 205 in credit. This is due in part to me not truly understanding how powershop worked in the beginning and purchasing everything. Nowadays I only purchase if the discount is 20% or greater hence no more future powerpacks once I've maxed out the February powerpack.
    • Somerset La La La
    • By Somerset La La La 14th Nov 17, 7:55 PM
    • 439 Posts
    • 122 Thanks
    Somerset La La La
    My Winter Jumbo Pack is £5.68 for £9.04 of credit - presumably because my usage is low. Once I buy it, I'll be ~£150 ahead, and I haven't made a decision about whether to buy February's PowerPacks yet

    I wonder what date they use for calculating usage - e.g. I knew my usage has recently gone up (estimated reading was somewhat lower than actual), so I entered a meter read and then waited to see if the paradise special would be re-generated, but it wasn't.

    Presumably, if I'd have entered my meter read earlier (and assuming of course the increased usage had been equal throughout the period) then they'd have detected my increased usage and given me a larger amount of energy in the Paradise Special pack the other day?

    Likewise although £5.68 is the lowest from what's been posted on here, I imagine it's higher than I'd have received had I not been entering updated readings and my estimated readings remained 1~ KwH per day lower than they actually were?
    Last edited by Somerset La La La; 14-11-2017 at 7:57 PM.
    Ex-Bankrupt, Discharged 09/2015
    Capital One - Jul 2016, £3,750 Never ending 0%....
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    • Tafrock
    • By Tafrock 15th Nov 17, 7:59 AM
    • 24 Posts
    • 18 Thanks
    Tafrock
    February's heavily discounted future pack is likely to be the last for several months with such a large discount Somerset la la la. If you can afford it I'd buy it though like you I have far too much credit in my account at the moment. I'll just not buy any future packs now until my credit falls to a reasonable level as the discounts won't be that great. I find powershop recalculate your special powerpack rates at the beginning of each month. I read my meter daily and that's what I've experienced as documented earlier in this thread. I'm finding I am saving money using powershop. I've saved 93.82 off standard rates over five months which easily eclipses the best rate available from other companies.
    • neilsedaka
    • By neilsedaka 15th Nov 17, 10:52 AM
    • 284 Posts
    • 88 Thanks
    neilsedaka
    I have checked my Easy Saver Promise July 2017 against what is currently available to me on the MSE Cheap Energy Club. Assuming that the unit prices are like for like in the CEC table, the Easy Saver Promise November 2017 is 12.191 p/unit compared with my 12.800 p/unit.

    Does that mean I could switch from the July 2017 (no exit fee) to the November 2017 and be better off?
    • Tafrock
    • By Tafrock 15th Nov 17, 11:21 AM
    • 24 Posts
    • 18 Thanks
    Tafrock
    No need to switch neilsedaka. If you are. Proactively buying heavily discounted powerpacks regularly you will quite easily beat your easy saver promise. The easy saver promise will only kick in if you don't buy powerpacks regularly and thus don't achieve maximum savings. There is only really one tariff with powershop and that's the standard one. You save money by buying powerpacks and the more you buy the more you save.
    • neilsedaka
    • By neilsedaka 15th Nov 17, 11:33 AM
    • 284 Posts
    • 88 Thanks
    neilsedaka
    I have indeed been buying the heavily discounted Powerpacks and am in credit until March. I don't understand though why I would not be better off by switching?

    Are you saying that the standard tariff for July 2017 and November 2017 are identical?
    • Tafrock
    • By Tafrock 15th Nov 17, 11:45 AM
    • 24 Posts
    • 18 Thanks
    Tafrock
    Powershops standard rates have not altered. They are still 16.6p standing charge per day and 13.5 per per unit in my region. This is the only tariff that actually exists. Any discounts achieved when buying powerpacks are discounts off these rates.
    The easy saver promise is there so that If people join powershop and don't buy powerpacks or buy very little powerpacks they get a limited discount as a safety net so the easy saver promise is the maximum you will pay for your submitted estimated annual usage. In my case it's only 20 pounds ie 475 as opposed to 495 per year.

    However if I buy powerpacks regularly I can achieve a annual price of 408 pounds ie a much bigger saving. Therefore if you buy powerpacks regularly it is pointless trying to switch to a new easy saver promise. In fact they won't let you. You would have to leave and rejoin powershop. Just keep buying your powerpacks. You will save more that way
    • Hengus
    • By Hengus 17th Nov 17, 2:55 PM
    • 4,517 Posts
    • 2,693 Thanks
    Hengus
    I am in the process of switching away from Powershop. I got a nice e-mail last night acknowledging that a transfer of supply was in progress - no problem. This morning, I looked at my online account and noted that I was moving home, not switching, and they would be grateful for a meter reading. Rang PS, and I was told that this was normal practice. After speaking to a Manager, he agreed that the webpage was wrong. To complicate matters further, I reviewed a 'postie' this morning showing an average daily cost of 78p but a fall in my credit of c.£100 in a week. PS think that this is because their computer has written off some of my paid for Future Packs. They are looking into it.
    • Tafrock
    • By Tafrock 17th Nov 17, 3:09 PM
    • 24 Posts
    • 18 Thanks
    Tafrock
    Have you found a cheaper supplier hengus. The only one for me I can find cheaper is iresa and I ain't going there. To be honest I'm quite happy with powershop anyway
    • fewkeste
    • By fewkeste 17th Nov 17, 3:15 PM
    • 123 Posts
    • 101 Thanks
    fewkeste
    Who are you moving to?
    I am in the process of switching away from Powershop.
    Originally posted by Hengus
    Who are you moving to? Also, have you had any further contact with the regulator re. safety of customers' credit?

    I've worked out that if the discount on offer from PS falls to 14.7% or lower, then I'm better off with another supplier (not Iresa though!!)
    • Tafrock
    • By Tafrock 17th Nov 17, 3:49 PM
    • 24 Posts
    • 18 Thanks
    Tafrock
    Just done a comparison. For me iresa is cheapest at 55 pounds cheaper closely followed by ayro. However I am comparing them to my easy saver promise. Buying the heavily discounted powerpacks easily beats both those for me by around 60 pounds
    Last edited by Tafrock; 17-11-2017 at 4:00 PM.
    • Hengus
    • By Hengus 17th Nov 17, 4:06 PM
    • 4,517 Posts
    • 2,693 Thanks
    Hengus
    It’s not Iresa; I’ve been there and got the scars to show for it. There are good deals out there, you just have to look (at both PCWs and cashback sites).
    • Tafrock
    • By Tafrock 17th Nov 17, 4:35 PM
    • 24 Posts
    • 18 Thanks
    Tafrock
    I've looked on many comparison sites and for my usage I can't beat powershop. Though if I wasn't In credit and just joined now I could due to the small discounts on offer for March which are beatable. However I have maxed out on November through til February future powerpacks . And for me those rates are unbeatable
    • fewkeste
    • By fewkeste 17th Nov 17, 5:30 PM
    • 123 Posts
    • 101 Thanks
    fewkeste
    Spill the beans!
    Itís not Iresa; Iíve been there and got the scars to show for it. There are good deals out there, you just have to look (at both PCWs and cashback sites).
    Originally posted by Hengus
    For me the next best value after Iresa (which I won't go near) is OneSelect, although I understand they have been having trouble with their website/portal at the moment.

    Who are you going with?
    • Tafrock
    • By Tafrock 17th Nov 17, 6:17 PM
    • 24 Posts
    • 18 Thanks
    Tafrock
    Ain't it strange. One select are only 12th in list on mse comparison for me (3pounds dearer). Powershop easy saver November is 2 pounds cheaper and 10th in list

    I find the easiest way to compare powershop is to put your tariff as powershop standard variable. Then take off how much the app says you've saved off standard variable rates which it tells you when you first enter the app in my case 93.82 in 5 months. Powershop standard variable is 55 pounds dearer than my cheapest offer from iresa. Therefore I calculate I'm 38 pounds better off after just 5 months of usage. So if I don't buy anymore powerpacks in the next 7 months I'm already 38 pounds better off. The saving will obviously increase when I do buy discounted powerpacks
    • fewkeste
    • By fewkeste 18th Nov 17, 12:58 AM
    • 123 Posts
    • 101 Thanks
    fewkeste
    Depends where in the UK you are I guess
    Ain't it strange. One select are only 12th in list on mse comparison for me (3pounds dearer). Powershop easy saver November is 2 pounds cheaper and 10th in list
    Originally posted by Tafrock
    I suppose it depends where you are in the UK. I'm in the East Midlands (Nottingham area) and I assume the different tariffs probably arise from different trade rates for bulk supply and transmission costs in various supply areas.
    • Somerset La La La
    • By Somerset La La La 18th Nov 17, 9:50 AM
    • 439 Posts
    • 122 Thanks
    Somerset La La La
    I think switching regularly may give better results - for example there are some £50 cashbacks with rates almost at market leading, and then you just move again as soon as the fix is up/cashback has been paid (if you weren't tied into a fix).

    Sadly I can't because of my credit, there's too big a risk that they'll accept the supply and then demand a prepayment meter - then I'd need to try and re-join PowerShop, and they/npower may by then have sorted out their threatened credit searches and so I'd not be able to rejoin!

    My friend has gone with somebody slightly more than powershop, but £51 cashback and can switch again in June/July (fix ends early Aug). Assuming she can switch again for a similar level of cashback, it should easily work out cheaper than just going straight for PowerShop
    Ex-Bankrupt, Discharged 09/2015
    Capital One - Jul 2016, £3,750 Never ending 0%....
    Aqua Reward (0.5% Cashback) - Nov 2016 - £1,950
    Vanquis Chrome 24.7% - July 2017, £1,000
    Car Loan - Sept 2017 - £15k outstanding, early settlement = £10k....
    Rebuild for Mortgage (10/2018)
    • Somerset La La La
    • By Somerset La La La 18th Nov 17, 11:32 AM
    • 439 Posts
    • 122 Thanks
    Somerset La La La
    Just got my account review, I'm getting 12.097p per kWh (I think!) inclusive of standing charge.

    Looking at the full cost breakdown on page 1, my standing charge is 21.8% of my 'full' cost, which seems high - but I guess there's no way round that for such small usage unless I find a supplier with low standing charges. Even using adjusted accurate reasons rather than the estimate from when I moved in, PowerShop are showing as cheapest in my area (Northamptonshire). My usage will go down further over the next year (working 100 miles away, away at least 1 night a week), but I doubt there's a supplier that will provide a lower standing charge whilst still having a reasonable unit charge!

    So using the values that from my discounted usage (£16.04), 78.14% of this is energy, that gives a new actual cost of £12.57 (excluding standing charge), which divided by the units is then 9.45p per unit for last month. I think this is the first month all discounts have been over 25%
    Ex-Bankrupt, Discharged 09/2015
    Capital One - Jul 2016, £3,750 Never ending 0%....
    Aqua Reward (0.5% Cashback) - Nov 2016 - £1,950
    Vanquis Chrome 24.7% - July 2017, £1,000
    Car Loan - Sept 2017 - £15k outstanding, early settlement = £10k....
    Rebuild for Mortgage (10/2018)
    • Tafrock
    • By Tafrock 18th Nov 17, 5:01 PM
    • 24 Posts
    • 18 Thanks
    Tafrock
    My unit cost excluding standing charge worked out as 9.54 p for 249 kWh. Which I find extremely acceptable. On powershops website they only quote cost per unit including standing charge which is quoted as 11.68p again very reasonable. It's also the first time all my discounted powerpacks have been in excess of 20 per cent. Powershops standing charge I find very reasonable. Some companies charge in excess of 20p per day though you can find some as low as 13p. However the combination of low unit costs and reasonable standing charge works for me.
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