Add your feedback on energy supplier Powershop

fewkeste

Mick_Popka wrote: »

Don't forget to change your payment method from Santander 123 to a bank account that doesn't accrue points so that you don't loose the points when the credit refund comes through.

Santander pay a % as cashback but don't seem to claw it back when you get a refund.

I did wonder if it was worth buying everything and then every so often asking for a refund of the low value packs, but didn't want to risk it for a small %.

fewkeste

I was just reading a Yorkshire Energy thread and noticed that Hengus is now an archived user. He (or she?) has in the past posted some very useful info so I'm sorry Hengus is no longer around.

Does anyone know what's happened?

irishesman

I’ve now set myself a limit of only getting packs above 16%. This is the figure I need to beat the next best quote. Even doing this, I’m still beating the top shopper rate.

In the beginning when I wasn’t 100% sure what I was doing, I did purchase some low percentage future packs which I have subsequently realised that I’ll never use and if I did end up using them I’d be better off with another supplier.

I messaged support requesting a credit and it was in my account the next day ready to buy power in the future. Very simple and no problems doing it at all.

gwr19

I wish I had discovered this thread earlier!

Powershop are incredibly bad at communicating how their system works. Whilst some people seem to have gleaned (based on posts here – I’m not sure how) that their “powerpacks” are actually monetary credits, the company still give the impression that they are related to power and even say on their website that they relate to a “set amount of energy”.

I didn’t discover this until recently, when I noticed that they were billing me based on the increased rate despite having paid for the energy in advance at the old rate, effectively devaluing all my powerpacks.

I actually would argue that my contract with them is based on the powerpacks consisting of a number of units of power, based on the fact that their terms and conditions do not explain how the powerpacks work but the welcome pack described them as

packages of energy

and their website describes them as

a special offer, which allows you to buy a set amount of energy at a discounted price

I would be interested to know the thoughts of people here and when you were told that the packs were actually monetary credits, rather than power credits.

Quentin

Do you have any powerpacks for X kw hours of power??

If so then you have cause for complaint!

Tafrock

The discounts apply to the unit rate charged at usage time not purchase time. The credits are monetary credits not kWh credits. That's how it works.

Tafrock

Therefore when you buy a pack it will say for example £6.14 for £7.56 worth of electricity. You pay £6.14. You get £7.56 added to your credit. When a pack is used the £7.56 will buy that energy at the rate in force at time the pack is used not when it is purchased. Powerpacks are never quoted as kWh per powerpack

fewkeste

Tafrock wrote: »

The discounts apply to the unit rate charged at usage time not purchase time.

This isn't actually quite correct.

We are filling a 'credit pot' with discounted credit - i.e. in your example £6.14 charge for £7.56's worth of account credit.

We are still charged at the Baseline Tariff rate but because we pay with discounted credit in our 'pot' the effect is as if we are getting a discounted tariff.

We are not actually getting a discounted tariff - it just appears we are getting a discounted tariff.

Of course what we are told/sold on is that the discounted credit we will accrue throughout the year will be as if we are paying a lower tariff (in my case Top Shopper.)

Be under no illusion - you are paying for your electricity and daily charge at the relevant Baseline Tariff but it 'feels like' you are paying a lower tariff because £7.56's worth of electricity only costs you £6.14.

Just wanted to clarify for any newbies on here who might get the wrong idea.

fewkeste

gwr19 wrote: »

I would be interested to know the thoughts of people here and when you were told that the packs were actually monetary credits, rather than power credits.

You have a valid point!!

I've been a customer since April 2017 and I always knew that what I was effectively doing was buying account credit at various discounts - and that credit is then later used to buy power (pay the monthly bill.)

You are quite right to point out that they talk about buying 'power' or 'energy' but in reality what you are actually buying is account credit at a discount (well at variable discounts depending on the discount offered on the Power Pack you are buying.)

This is a bit like the story of 'The King's New Clothes' - it takes a new (niaive?) customer to point out the glaring difference.

You are quite correct - we are buying account credit - NOT power.

I would email Powershop and see what they say:T

gwr19

Thanks for the responses. I do understand how it works now, I was just trying to find out how you all found out.

As far as I can see none of their documentation explains it as a monetary credit.

So, did you get sent a document that I didn't?