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Yes, you'd like to think that Powershop are also talking to Ofgem to come up with a way to show what can reasonably be achieved. After all if they are not allowed to show what can be achieved with a bit of effort by the consumer, then it is the consumer who will lose out in the end.
People on this forum have rejected the PS way (and denied themselves the savings) because they thought it was too complicated when it isn't really.
I am not sure that most people - including myself - have any concept of what powerpacks to buy and when.0 -
@Hengus
I think this advice neatly encapsulates a good strategy. One additional thing I would add is buy ALL the winter future packs you can - even if it's more than your expected winter monthly expenditure because what you are doing is topping your account up with discounted credit.This details the Powerpacks that you can buy. Split into three categories
A: Special
Buy both Special Packs (Snack Pack 28% discount and Big Boy 7.3% discount) think about the last Special Pack "Last Call" which you should only buy if really needed as the discount is only 2.8%
B: Top up
Standard Price Pack. This is the price that you pay if you do not buy any Special or Future packs
C: Future Packs
These are all at a percentage discount as follows; 16.5%, 16.9%, 18.3%. Rule of thumb is that you always buy all discounted Powerpacks.
There are also occasional sales of packs with discounts but only a limited availability that you need to be able to react quickly and buy. I have not seen these as yet0 -
@Hengus
I think this advice neatly encapsulates a good strategy. One additional thing I would add is buy ALL the winter future packs you can - even if it's more than your expected winter monthly expenditure because what you are doing is topping your account up with discounted credit.
All that info is hidden away on a MSE forum that most people will never ever read. Given that the poster has been with PS for less than a year, how do you know that he is right?0 -
All that info is hidden away on a MSE forum that most people will never ever read. Given that the poster has been with PS for less than a year, how do you know that he is right?
Before my online account went live I had a rough idea about the different types of Powerpacks but this simple advice from Chris bay made things clearer. Once my account was up and running, I carried out my own analysis and I absolutely agree with Chris bay's recommendations.
This is my personal strategy.
For me Future Packs are guaranteed discounts in the bag. I'll then take advantage of the in-month specials to top up my credit.
Buy all the Future Packs.
The Appetisers and small 'gimicky' Powerpacks are just a distraction but, if they offer a good discount then why not have them?
If you've bought a good supply of Future Packs, then lesser discounted packs (like the Jumbos) may not be needed.
I say always buy the maximum value of Future Packs you can whatever your consumption is (especially when the discount is 22% or greater.)
Top up with in-month specials. If they are as good (or nearly as good) a discount as the Future Packs, then buy them as well.
Always look for the highest % discount packs you can and buy all of them.
That's my take on things
If people choose not to seek advice (read this forum) for advice as new customers, then that's their lookout. I think a golden rule in life is 'be your own expert'.
If you don't know - find out! I did, you did, others have done. Knowledge comes at a price - your time. But with it comes the warm glow of knowing you've optimised things to the best of your ability.:)0 -
As the Powershop reps no longer seem to be replying to questions raised, (but i daresay taking notes of comments made,) I've found the answer to the question i have raised, twice.
It is there in the t&c's.
Although:Key Facts
Powershop no fixed term contract, no termination fees* Terms and conditions: The Easy Saver Promise works out the maximum annual cost of your electricity with Powershop over the next year at your property based on the standing daily charge (£/day) and unit rate (£/kWh) and the usage information you provided. You can beat your Easy Saver Promise price by buying Powerpacks to make savings versus our standard rate.
The Easy Saver Promise offer does not apply if within a year of becoming a customer:
(A) you switch away from Powershop or move to a new property supplied by Powershop;
(B) at the time we calculate any difference owed on your Easy Saver Promise, you owe Powershop more than £100 which is at least 60 days overdue (whether on this property or another property).
In effect, you have to stay with Powershop for 12 months otherwise the Easy Saver Promise doesn't apply, so there will be no winter / summer / winter switching. You will have to stay with them for at least 12 months.Fred - Where's your get up and go?
Barney - It just got up and went.
Carpe diem0 -
fredandwilma wrote: »As the Powershop reps no longer seem to be replying to questions raised, (but i daresay taking notes of comments made,) I've found the answer to the question i have raised, twice.
It is there in the t&c's.
Although:
In effect, you have to stay with Powershop for 12 months otherwise the Easy Saver Promise doesn't apply, so there will be no winter / summer / winter switching. You will have to stay with them for at least 12 months.
True - and I was fully aware of that when I signed up. Having said that, it is important to look at the savings across the three offers. I have an annual standard tariff cost projection of £389.09. The Easy Saver Promise comes in at £379.84: a saving of £18.25 for doing nothing but staying with Powershop for 12 months. The bigger saving is the difference between the SVT and the effective power pack price which is £398.09 reduced to £330.72: a potential saving of £67.37.
The £67.07 potential saving is not something that happens at the end of 12 months. The principle behind PS is that discounted powerpacks are bought on a periodic basis. Looking at my online account, I have paid for energy up until the end of this year. If I just sit on my hands and do not buy any more powerpacks, and transfer away from PS in early January, then I would still accrue a saving of £35.05 on the full SVT price. Moreover, if PS doubled its SVT tomorrow, then whatever I do or not do regarding powerpacks my Easy Saver Promise cost would still apply.
There is nothing untoward going on here. The issue that needs to be resolved is how best to display the Easy Saver offer so that potential switchers are not confused when they see what to all intents is a tariff with standing charges and unit prices. FWIW, I note that SwitchWhich still displays it as a tariff with little information about how the projected cost can be achieved. It just mentions how the Easy Saver Promise can be beaten. Conversely, The Energy Shop, has dropped Easy Saver from its listings but the Easy Saver Promise is still shown.0 -
For how many kWh of electricity per year are the above costs based on?.. I have an annual standard tariff cost projection of £389.09. The Easy Saver Promise comes in at £379.84: a saving of £18.25 for doing nothing but staying with Powershop for 12 months. The bigger saving is the difference between the SVT and the effective power pack price which is £398.09 reduced to £330.72: a potential saving of £67.37.
.0 -
2500 kWs/year. Easy Saver is within £5 of the Iresa 2 fixed cost that I secured last year. Other positives are PS’s excellent billing and customer service.0
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@Powershop
Having seen posts about the Easy Saver Promise on this forum, I went to your website and did a search for 'Easy Saver Promise' and nothing was found.
Can you confirm the following please:
When it was enabled?
What exactly is it?
Any other info. we should be aware of pertaining to this promise.
Thanks0 -
@Powershop
Having seen posts about the Easy Saver Promise on this forum, I went to your website and did a search for 'Easy Saver Promise' and nothing was found.
Can you confirm the following please:
When it was enabled?
What exactly is it?
Any other info. we should be aware of pertaining to this promise.
Thanks
Have a read of your Welcome E-Mail which forms part of your contract with Powershop
Promotion Terms and Conditions:
The Easy Saver Promise works out the maximum annual cost of your electricity with Powershop over the next year at your property based on the standing daily charge (£/day) and unit rate (£/kWh) and the usage information you provided. You can beat your Easy Saver Promise price by buying Powerpacks to make savings versus our standard rate.
The Easy Saver Promise offer does not apply if within a year of becoming a customer: (A) you switch away from Powershop or move to a new property supplied by Powershop; (B) at the time we calculate any difference owed on your Easy Saver Promise, you owe Powershop more than £100 which is at least 60 days overdue (whether on this property or another property).
f your metering configuration changes through the year (whether due to a change you request, an error we discover, or for any other reason) then we will use our best endeavours to replicate the price you would have paid across both meters. This offer is not available in conjunction with any other promotional offers available through Powershop from time to time with the exception of friend get friend referrals. This offer is only available while it is visible on our webpage or via our sales partners.
The reconciliation to make good against your Easy Saver Promise will be performed after the end of your first year with Powershop. The calculation will be as explained above. If you have done better than what you were promised nothing will happen (except perhaps getting a note to say well done).
If you haven’t managed to beat your Easy Saver Promise, we will make good on any difference before the end of your thirteenth month with Powershop at the latest or a bit later if you haven’t yet been billed. We may make good on the difference in your account with credit, a discounted Powerpack (e.g. £10 of energy for £1) purchased on your behalf (auto-purchase), or some combination of the two. We may also start giving you credit, or discounted Powerpacks in advance of the end of your first year to keep you on track.
Extract from Ts and cs para 7b:
If we offer discounts and/or bundles that are not Powerpacks, for example, a bundled discount (where another product or service is provided as part of the gas or electricity agreement) we will specify the conditions relating to that discount and/or bundle in the additional terms and conditions which will be part of your welcome pack.0
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