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  • FIRST POST
    • fewkeste
    • By fewkeste 21st Apr 17, 5:18 PM
    • 110Posts
    • 30Thanks
    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 11
    • Hengus
    • By Hengus 23rd Aug 17, 6:25 PM
    • 4,202 Posts
    • 2,449 Thanks
    Hengus
    Ofgem Update
    Seven weeks and two attempts later, Ofgem has now responded to my question about consumer credit protection by saying that PSEnergy Ltd is an NPower ‘white label supplier’. It follows that NPower is responsible for all Powershop consumer credits.

    However, having looked at the regulations, I am not sure that I would come to the same determination. For example, M and S Energy is a white label supplier of SSE. A quick check of the ts and CS shows this:

    Quote:
    This Contract is between you and SSE Energy Supply Limited for electricity and/or Southern Electric Gas Limited for gas for M&S Energy.

    Unquote

    It follows that all M and S Energy customers are actually on contract to SSE. The same type of wording is used in the Sainsbury’s Energy contract where customers are actually in contract with British Gas. No ambiguity whatsoever.

    Confusingly, Powershop’s contract states the following:

    Quote:
    Powershop is a trading name of PS Energy UK Ltd, a wholly owned subsidiary of Npower Limited. Electricity is supplied under this contract by Npower Limited and gas is supplied by Npower Gas Limited on behalf of Powershop. PS Energy UK Limited is the agent of Npower Limited and Npower Gas Limited for Powershop customers.

    Unquote

    My layman’s reading of the above is that my electricity contract is with PS Energy Ltd - a Limited company - with energy supplied under this contract by NPower. I am not in any form of contract with NPower.

    In an attempt to get further clarity, I have bounced the ball back at Ofgem as I am still not convinced that, if PSEnergy Ltd was forced into insolvency by a creditor, Ofgem has the requisite legal powers to force NPower to take on PSEnergy’s debts. Indeed, NPower itself may be a major creditor. A simple solution to this would be for PS Energy Ltd to bring its contract wording in line with the other white label suppliers.

    I am only pursuing this because of the large credit balances involved with this type of energy buying offer.
    • wakeupalarm
    • By wakeupalarm 24th Aug 17, 1:31 AM
    • 686 Posts
    • 296 Thanks
    wakeupalarm
    Decided against switching to Powershop because of all the constant work involved, but will keep an eye on them.

    Thank you for your efforts in seeking clarity from Ofgem, Hengus.
    • neilsedaka
    • By neilsedaka 24th Aug 17, 8:47 AM
    • 281 Posts
    • 77 Thanks
    neilsedaka
    Decided against switching to Powershop because of all the constant work involved
    Originally posted by wakeupalarm
    As far as I can see the "constant work" consists of buying all of the powerpacks that are offered which takes a few seconds.
    • Hengus
    • By Hengus 24th Aug 17, 8:56 AM
    • 4,202 Posts
    • 2,449 Thanks
    Hengus
    As far as I can see the "constant work" consists of buying all of the powerpacks that are offered which takes a few seconds.
    Originally posted by neilsedaka
    True and not true. You have to spend a bit of time analysing your projected future usage - month by month - against what PS thinks so that you do not buy un-necessary low value (ie; low discount) packs. To get the largest discount, you have to purchase energy months in advance accruing a credit balance - on my modest usage of 2500kWhs/year - of well over £150.
    • neilsedaka
    • By neilsedaka 24th Aug 17, 9:06 AM
    • 281 Posts
    • 77 Thanks
    neilsedaka
    In my case I have bought all of the powerpacks offered to me at varying discounts which is better than paying what is left over at the standard rate. Powershop debited my bank account a couple of days ago with the first chunk of what was left over at the standard rate.
    Last edited by neilsedaka; 24-08-2017 at 1:33 PM. Reason: Edited for clarity
    • Tafrock
    • By Tafrock 24th Aug 17, 9:46 AM
    • 7 Posts
    • 2 Thanks
    Tafrock
    Works for me so far
    Just under 3 months in to my powershop experience. And I must admit I'm quite impressed

    At first I bought all powerpacks mainly to avoid having to pay standard prices but now I have built up quite a hefty credit of 111 pounds and paid for my overestimated electricity usage until end of November already so I'm only buying power packs with discounts of 15 percent or more.

    Out goes jumbo as that's only 7 percent and the silly little random boosters

    However I certainly will be buying all December power packs and have already bought all November and a couple of October

    I find it a breeze to use. Statements and weekly updates are clear and simple to understand. After 2 months I have already saved 42.02 off standard electricity prices even with buying the jumbos etc which I won't be buying anymore. If the saving rate continues at this level (and I expect it to be higher as I won't be buying small discount power packs) I would save at least 84 pounds in a year narrowly beating my best quote from other providers. I reckon a saving of 76 pounds annually is enough to beat iresas market leading quote for myself (Though I wouldn't be going anywhere near Iresa anyway).

    I'm quite happy with powershop and will be staying with them for the foreseeable future. Though when my gas supplier zog launches electricity supply I may well leave for a duel fuel contract with them as I'm extremely happy to be a 4 year customer of zog

    Not at all worried about the credit I've built up with powershop.
    Last edited by Tafrock; 24-08-2017 at 9:59 AM.
    • fredandwilma
    • By fredandwilma 24th Aug 17, 1:17 PM
    • 998 Posts
    • 1,348 Thanks
    fredandwilma
    In my case I have bought all of the powerpacks offered to me at varying discounts which is better than paying what is left over at the standard rate. Powershop debited my account a couple of days ago with the first chunk of what was left over at the standard rate.
    Originally posted by neilsedaka
    Isn't that a contradiction in itself and this is what I've been wondering all along?

    Do you mean debited or credited?

    Surely there is only one winner here, as you've paid the standard rate, in any case?
    Fred - Where's your get up and go?

    Barney - It just got up and went.



    Carpe diem
    • neilsedaka
    • By neilsedaka 24th Aug 17, 1:30 PM
    • 281 Posts
    • 77 Thanks
    neilsedaka
    Do you mean debited or credited?
    Originally posted by fredandwilma
    Debited. From my experience one has no alternative but to pay a proportion of usage at the standard rate which should in theory be balanced out by purchasing the discounted powerpacks which we are told will end up at the conclusion of the year at an average rate better than Powerhop competitors.
    • Hengus
    • By Hengus 24th Aug 17, 1:50 PM
    • 4,202 Posts
    • 2,449 Thanks
    Hengus
    Isn't that a contradiction in itself and this is what I've been wondering all along?

    Do you mean debited or credited?

    Surely there is only one winner here, as you've paid the standard rate, in any case?
    Originally posted by fredandwilma
    These are the early day buying challenges as it is not possible to buy the heavily discounted advance packs when you first join PS. This is why it is necessary to look at what the PS App thinks that you will use in, say, Aug and then look back at historical usage (if you have any - I do) to see what low discount packs need to be bought. This problem goes away in the longer term.
    • Tafrock
    • By Tafrock 24th Aug 17, 5:29 PM
    • 7 Posts
    • 2 Thanks
    Tafrock
    In my nearly 3 months with powershop I have avoided purchasing power at standard rates. I came close to needing to in month 1 but don't forget your months aren't calendar months mine run from 6th to 6th usually. So once you get to the 1st of a month you can purchase another jumbo or easy saver to avoid using standard power.
    • doug_kent
    • By doug_kent 11th Sep 17, 11:00 AM
    • 1 Posts
    • 0 Thanks
    doug_kent
    I was enthusiastic about using Powershop and arranged for xfr. Unfortunately they said that they can't handle 2 meters at a residential address, I have one for daily rate and one for night rate (Economy 7) its a little strange as Economy 7 rates are quoted. They were very apologetic on the phone but somehow I got into a position where I had 1 meter with Powershop and 1 with my old supplier. Both supplies are now being referred back to my old supplier. Call centre staff were very helpful and very apologetic.
    • fewkeste
    • By fewkeste 12th Sep 17, 4:26 PM
    • 110 Posts
    • 30 Thanks
    fewkeste
    You've sussed it!
    Just under 3 months in to my powershop experience. And I must admit I'm quite impressed

    At first I bought all powerpacks mainly to avoid having to pay standard prices but now I have built up quite a hefty credit of 111 pounds and paid for my overestimated electricity usage until end of November already so I'm only buying power packs with discounts of 15 percent or more.

    Out goes jumbo as that's only 7 percent and the silly little random boosters

    However I certainly will be buying all December power packs and have already bought all November and a couple of October

    I find it a breeze to use. Statements and weekly updates are clear and simple to understand. After 2 months I have already saved 42.02 off standard electricity prices even with buying the jumbos etc which I won't be buying anymore. If the saving rate continues at this level (and I expect it to be higher as I won't be buying small discount power packs) I would save at least 84 pounds in a year narrowly beating my best quote from other providers. I reckon a saving of 76 pounds annually is enough to beat iresas market leading quote for myself (Though I wouldn't be going anywhere near Iresa anyway).

    I'm quite happy with powershop and will be staying with them for the foreseeable future. Though when my gas supplier zog launches electricity supply I may well leave for a duel fuel contract with them as I'm extremely happy to be a 4 year customer of zog

    Not at all worried about the credit I've built up with powershop.
    Originally posted by Tafrock
    I agree with virtually everything you've put in this post. Once a customer has bought the maximum amount of future packs and the monthly simple savers there's no need to bother with the pawltry discount of the Jumbo packs. They are of use for new customers who wouldn't have had the opportunity to purchase the relevant future packs (as they would have had to have purchased them before they joined Powershop!!) I do however buy the silly appetiser packs simply because they are usually 28% discount.

    I'm waiting for this month's in-month specials - they normally do two or three per month but nothing so far this month. This is the first month I've chosen NOT to buy a Jumbo pack. Are other customers seeing September in-month special packs yet? I did have the thought that I wonder if buying the Jumbo packs 'unlocks' the ability to buy further in-month specials and that because I've not bought the Jumbo this month I'm not seeing the opportunity to buy other specials. Comments please.

    For clarity I'm not talking about the September Simple Saver or the Appetiser Pack (I've bought them) - I'm thinking about the September equivalent of the August Special packs named Quick Fix Special and Women's Equality Special or the July equivalents named Great British Summer Time, First Lady Special and Butter Run Special.

    So far nothing has appeared for September.

    Also @Powershop rep.
    In a previous post you indicated customers could either buy Future Packs to get a good discount OR buy in-month Special Packs to achieve more or less the same discount as buying Future Packs. Well I don't see in-month Special Packs appearing for the similar monetary values or discounts comparable to Future Packs so please explain yourself and those past comments.
    • fewkeste
    • By fewkeste 12th Sep 17, 4:41 PM
    • 110 Posts
    • 30 Thanks
    fewkeste
    No need to buy Standard Power Top up if you're careful
    Debited. From my experience one has no alternative but to pay a proportion of usage at the standard rate which should in theory be balanced out by purchasing the discounted powerpacks which we are told will end up at the conclusion of the year at an average rate better than Powerhop competitors.
    Originally posted by neilsedaka
    I don't accept what you're saying here. I think by buying all available Future Packs to the maximum value every month, the in-month Simple Savers, the Appetiser Packs and the two or three in-month Special Packs, I think most people should be able to fully cover their monthly consumption WITHOUT the need to purchase Standard Power Top Up packs. The trick is to always buy all the Future Packs on offer then just top up each month with Special Packs. Even if in the summer months you don't need £50 worth of credit, buy it anyway to sit as discounted credit on your account - that's my advice.
    • fewkeste
    • By fewkeste 12th Sep 17, 5:31 PM
    • 110 Posts
    • 30 Thanks
    fewkeste
    And as if by magic...

    So far nothing has appeared for September.
    Originally posted by fewkeste
    Amazing coincidence - less than a hour after I'd posted about not seeing any in-month Special Packs the 'in the money' Special Pack appears. Not a brilliant discount at 10% but it fills a hole at the end of November for me.
    • Tafrock
    • By Tafrock 13th Sep 17, 12:18 AM
    • 7 Posts
    • 2 Thanks
    Tafrock
    Quite disappointed with today's special pack discount of 10%. I won't be buying that one. Im already. 126 in credit and payed up for rest of year

    I have raised my minimum discount needed now and won't buy any packs that have a discount of less than 20 %. I'm only doing this because I use on average 35 pounds a month and by buying all the future packs that are discounted at 23.5% (you are allowed 5) I'm already increasing my credit by 15 to 20 quid a month. I'm not even bothering with the simple saver for September (15.7%). Of course if the discounts on the future packs start to fall I will readjust my minimum discount again. However I anticipate the discounts on February to be slightly higher than 23.5% but time will tell. One thing I also noticed is the value and cost of my power packs I had not bought at beginning of September adjusted and decreased after my September power review. So jumbo was originally 16.63 but came down to 14.60. Appetiser was originally 1.44 and became 1.26. Simple saver was 7.73 and became 6.78. The value of power they bought also came down so the discount remained constant. I guess they recalculate your daily usage at review time and adjust the regular packs accordingly.

    I feel as if I'm in total control of when I can buy power and at what price I pay for it. Powershop is a winner for myself
    • mjtko
    • By mjtko 13th Sep 17, 10:49 AM
    • 8 Posts
    • 0 Thanks
    mjtko
    Rule of thumb I'm following now is: if future packs are >= 20% discount, buy them all (i.e. all 5 you're allowed) even if my usage is going to fall under the amount they cover (which it certainly will). Then buy all specials, simple savers etc. regardless of discount to keep them "in stock".

    The theory is that this means that in months where future packs become active, the deep discounts of the future pack should cover all my usage (as the most discounted packs are consumed first). When months end up having future pack discounts of < 20%, these should then get covered by my "surplus" of > 20% future packs with any shortfall being covered by my stock of special packs.

    While this means that PowerShop are holding some of my money until "refund time" (whenever that is... anniversary? dunno, not sure yet), this seems to be the best way to ensure the deepest discounts are applied over the course of the year.
    • fewkeste
    • By fewkeste 13th Sep 17, 11:29 AM
    • 110 Posts
    • 30 Thanks
    fewkeste
    An interesting observation
    One thing I also noticed is the value and cost of my power packs I had not bought at beginning of September adjusted and decreased after my September power review. So jumbo was originally 16.63 but came down to 14.60. Appetiser was originally 1.44 and became 1.26. Simple saver was 7.73 and became 6.78. The value of power they bought also came down so the discount remained constant. I guess they recalculate your daily usage at review time and adjust the regular packs accordingly.
    Originally posted by Tafrock
    Interesting - I wasn't aware of that level of sophistication in their systems - impressive. Like you I was unimpressed with the 10% discount offered in the Special Pack but at least it's better than the 7% of the Jumbo.

    What I've realised is that it takes 'courage' to pass up on the less attractive discounted Special Packs, knowing/believing there will be better discounted packs available later to fill any holes in your projected consumption profile. The risk of course is that if sufficient Special Packs of an appropriate discount don't appear at some future date, then Standard Tariff Power top up is the fallback scenario.
    • mjtko
    • By mjtko 13th Sep 17, 11:35 AM
    • 8 Posts
    • 0 Thanks
    mjtko
    What I've realised is that it takes 'courage' to pass up on the less attractive discounted Special Packs, knowing/believing there will be better discounted packs available later to fill any holes in your projected consumption profile. The risk of course is that if sufficient Special Packs of an appropriate discount don't appear at some future date, then Standard Tariff Power top up is the fallback scenario.
    Originally posted by fewkeste
    Courage -- or the ability to invest in the less attractive packs. If you buy all the power packs, even ones with the less attractive discounts, then they'll sit in your account unused until such time as they're the next most heavily discounted packs, at which point they'll be consumed. Nobody should ever need to buy the standard power top-up in that situation AFAICS (well, not unless their usage spikes hugely for some reason).

    The downside is that your money is tied up until a refund of unused packs is possible but there's no clarity on when this would be yet, AFAIK.
    • fewkeste
    • By fewkeste 13th Sep 17, 2:53 PM
    • 110 Posts
    • 30 Thanks
    fewkeste
    Request for Historic Future Pack Discount rates
    The first Future Packs I was able to buy were the August ones. I have since gone on to buy September, October, November, December & January 2018 Future Packs and so I know their associated discounts.

    I wish to modify my consumption and projected usage/bills spreadsheet to cover anticipated future costs and I would like to use the historic % discounts offered on Future Packs that were available before August of this year as an initial basis/starting point of my calculations for next year.

    Can any customers who joined earlier in the year let me know what the discounts were on Future packs for July, June, May, April, March, February and January if they have them please?

    For the avoidance of doubt I understand that for example the Future Pack named 'July' will actually cover the consumption in June and is so named because the accounting period it covers ends in July - so it's the name of the pack and its associated discount that's important to me NOT the specific period it covers.

    I have a feeling The July Future Pack discount was 12.8% but I'd like that confirmed along with as many of the previous months as it's possible to find out about.

    I'm trying to find a way of calculating:

    a. What running discount to date I'm achieving
    b. What instantaneous (in-month) discount I'm achieving
    c. Projected future discount likely to be achieved.

    It's not easy as money paid out for Future Packs has to be separated from current in-month Special Pack purchases. It's very difficult to know/calculate on an ongoing basis (independently of what PS says) how well I'm doing compared to the 20-22% supposedly achievable figure.

    I'm no dullard when it comes to spreadsheets but any tips on how to proceed will be welcomed (I'm talking about the approach to extracting/separating actual 'to date' spend v future credit in pot spend.)

    Some posters on here have already cited achieved (disappointing to date) discounts, so I'd be interested to hear exactly what approach they took.

    I'm thinking the results will have to be expressed on a 'per accounting period' basis then averaged to give a rolling achieved discount and after a year the actual annually achieved discount.
    • Boohoo
    • By Boohoo 14th Sep 17, 9:11 AM
    • 495 Posts
    • 35 Thanks
    Boohoo
    I switched at the start of this month and have bought most of this months fuel.
    I have also got November and Decembers at 20% discount but i don't see any for October apart from standard rates.
    Have October's deals been and gone or will i have to pay standard rates?
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