Pay up-front 25% Discount from Scottish Power

bluebaron

ok so i reviewed my bill and my estimated usage for the next 12 months on Gas/Elec is £1824.00. This sounds about right for my large house/3 kids etc.

So i call up to see if i can get any better rates than the "online saver4" i'm on now. I was told this is the best rate.....however if i pay all the money up front i will only have to pay £1343.00. Thats £481 cheaper or 26%ish

:beer:

Cardew

Never heard of this one - any more details please?

Sounds far too good to be true.

bluebaron

Details are as stated, i just called them up and was told exactly that. Tried to pay on credit card for the points but that didn't work Debit card worked fine. I'm now all paid up for the next 12 months. If after 12 months i use more/less then they will refund the difference/ i pay the difference at the current online saver 4 rates.

Seemed like a good deal to me. Obiviously you need the funds to pay up front and you will lose the 3% interest on those funds etc etc etc .

He also mentioned i could cancel at any time and get a refund on the remainder balance, but didn't really listen to the fine print.

Cardew

Sorry to be cynical, but I suspect you have been conned, or you misunderstood.(delighted if I am proved to be wrong)

This link(march 2009) shows a 5% discount and then only off their Standard prices not on-line.

http://www.scottishpower.co.uk/home_energy/product_prices/pay_in_advance/default.asp

I would get something in writing.

1carminestocky

bluebaron wrote: »

Details are as stated, i just called them up and was told exactly that. Tried to pay on credit card for the points but that didn't work Debit card worked fine. I'm now all paid up for the next 12 months. If after 12 months i use more/less then they will refund the difference/ i pay the difference at the current online saver 4 rates.

Seemed like a good deal to me. Obiviously you need the funds to pay up front and you will lose the 3% interest on those funds etc etc etc .

He also mentioned i could cancel at any time and get a refund on the remainder balance, but didn't really listen to the fine print.

Eeekk :eek:. I'm sure Cardew is correct here, you have either been misled or you misheard. Personally, I would ring up and ask them to have a listen to the recording of the call.

Vestra

1carminestocky wrote: »

Eeekk :eek:. I'm sure Cardew is correct here, you have either been misled or you misheard. Personally, I would ring up and ask them to have a listen to the recording of the call.

But surely the letter stating how much the usage is going to be and how much she has paid confirms what she has been offered? Sounds a good deal if true.

1carminestocky

Rian1988 wrote: »

But surely the letter stating how much the usage is going to be and how much she has paid confirms what she has been offered? Sounds a good deal if true.

I must have missed it. Has she had a letter?

bluebaron

hello,

The letter i got was a standard you have used this much and your estimate for next year is blah blah blah.

I then called and was told the above. I should get a confirmation in the post in a few days so will feed back to you all. I thought it was good so thats why i paid straight away. I even questioned the rate etc and was told that if i paid now i would get the estimated usage price reduced from £1824 to £1341.

He was quite clear. this is the price for the estimated KWH/Gas usage i was quoted £1824 for, ie a 26% reduction.

However i'm calling back tomorrow to check as you have all put doubts in my head now...lol

Cardew

bluebaron wrote: »

hello,

The letter i got was a standard you have used this much and your estimate for next year is blah blah blah.

I then called and was told the above. I should get a confirmation in the post in a few days so will feed back to you all. I thought it was good so thats why i paid straight away. I even questioned the rate etc and was told that if i paid now i would get the estimated usage price reduced from £1824 to £1341.

He was quite clear. this is the price for the estimated KWH/Gas usage i was quoted £1824 for, ie a 26% reduction.

However i'm calling back tomorrow to check as you have all put doubts in my head now...lol

Let us know the result please.

If you are correct then this part of MSE can be suspended and a message posted from Martin that everyone MUST join Scottish Power and all employees of other utility firms should seek new employments - lots of MP vacancies coming up!

P.S.

Bear in mind that a 26% reduction is worth double that figure. e.g. if your annual bill was £1200(and you have that sum in the bank) and you pay £100 a month your average balance throughout the year is £600. Yet you get 26% on £1200.

rbulph

Yes, I'm being offered a 5% discount online for paying upfront. Even that seems worthwhile. 25% sounds too good to be true.

savers_united

Or are the energy companies expecting to make further cuts in the region of 15-20% before year end.
If they are then having the money upfront from customers and they are quids in....Gas usage pretty low this time of year anyway