Add your feedback on energy supplier Powershop

MrChips

I've been a very happy PS customer since October 2017.

Last time I checked a couple of months ago, I was still just about best off with PS (or at least broadly no worse off). Based on competitor tariffs available at that time, I needed to average about 22-23% discount each month. I had a stack of Simple Saver discounts saved up at 19% and was relying on a few special packs being released each month at 25-30% discount to get my target average.

However special packs have been rather measly lately. I've done another market check today and Orbit Energy is coming out much better value.

I'd need to average 27-28% monthly discount to beat it, and can't see that happening. I have 30%+ future packs coming through in November and December, but they would need to be bolstered by other similar special packs, and that's assuming my base line doesn't increase.

My (non PS) gas is also up for renewal, so seems to be the time to jump over to Orbit for both.

It's a shame as I've been really engaged with my electricity usage since moving to PS, and the app and customer service has been second to none. I'll keep an eye on this thread, and what their offerings are for new customers in case it becomes worthwhile making a return.

Tafrock

I can guarantee once you leave you won't return Mr chips. Your baseline tariff will increase. Its now exactly the same as npower svr which is bound to increase with the increase being allowed by the energy cap increase. Found out today npower are eventually going to be absorbed by eon so where that will leave powershop I'm uncertain. As you say when it worked which it did for 18 months for me it was wonderful. But just like first utility (my previous to powershop supplier) costs rapidly increased and you only really begin to realise how expensive powershop has become once you leave. You keep thinking your saving by buying 5 or 6 quids worth of electricity at 30+% discount. Unfortunately this has to be combined with expensive poorly discounted electricity. Once my initial hoard of powerpacks was used I struggled to keep costs down. Good luck with orbit. I've noticed they are very competitive too so will keep an eye on them. I currently am with zog until April for gas (no Ties) and symbio for electricity. Despite a very dodgy start symbio seem to be getting there and for myself are very cheap

fewkeste

MrChips wrote: »

Based on competitor tariffs available at that time, I needed to average about 22-23% discount each month.

Does this mean the difference between your Baseline Tariff and the Top Shopper Tariff you were told you could achieve by buying Powerpacks was only 22/23%?

Tafrock

That could be because Mr chips is on a deal. If not then you need a discount around 32% to achieve cheapest rates. But don't forget even top shopper rates aren't the cheapest now. For me top shopper is 61 pounds dearer then my tariff with symbio. But baseline is £179 dearer that's the most it can be due to the energy cap as its treated as a svr. You will notice all svrs are now set at a certain price due to the price cap (in my case £179 dearer at £559 per year for my usage). So in my case I need to get my bill down to £380 or less to match my symbio tariff ie a discount of £179. As a percentage that's 31.3 % discount to better my tariff but only £118 discount is necessary to get to top shopper rates. That's just 21.1%. That's achievable. But the 31.3% discount to get to the cheapest rate isn't

MrChips

I haven't paid too much attention to all the different tariff names.

My baseline rates with PS are 17.241 p/kWh and 18.018 p/day standing charge. My annual usage is around 3,600 kWh which means £686 pa before discount.

Back in April/May the cheapest alternative supplier was quoting about £530, equivalent to a 22-23% discount (it varies by season as I use electricity at a rate of c4,200 kWh pa in the winter months and c3,200 kWh pa in the summer months).

Now Orbit quote is about £500 pa (if I go single fuel there is another electricity supplier £4 pa cheaper, but I lose more than that if I went with them as I can't get another single fuel gas supplier anywhere close to the Orbit dual fuel offer.

£500 pa works out at an average discount of 27%-28%.

Tafrock

Yes but that's before your baseline goes up which it will do when the deal you are on now ends. Your baseline you are on now I guess was set before April. The energy price cap was increased in April and so your revised baseline will increase. It has to by law as baseline is a svr

KTF

Over a year, my average monthly bill for powershop is hovering around the £35 mark.

Putting my annual figures in to various comparison websites show other options will be around £40 a month so I am staying with powershop for the time being.

Tafrock

That's exactly how I compared ktf. As long as my bills remained below £32 powershop were the cheapest. When they went up to £34 I left. Now I'm paying 31.12 a month with symbio

tlcgrantham

You might want to consider Powershop for gas. I've been with Powershop for 9 months on dual fuel and like you have been very happy. So far I've used 13,851kw worth of gas and paid £360.40 that works out at 2.6p per kw or 2.18p per kw allowing for a daily charge of 21.09p. Both far less than Top Shopper rates.

Quentin

Tafrock wrote: »

That's exactly how I compared ktf. As long as my bills remained below £32 powershop were the cheapest. When they went up to £34 I left. Now I'm paying 31.12 a month with symbio

Doesn't really prove much! Monthly DD cost is not the bench mark

All depends on useage

If you use less you will save some more!

And not having to do that advanced mathematics described in #1314 every month has got to be worth another 41 p at least every month!