Add your feedback on energy supplier Powershop

fewkeste

tlcgrantham wrote: »

Little Extra Pack £4.79 worth £7.46 35.8% discount
Smarty_pants. £5.14 worth £6.44 20.2%. "
Simple Saver. £5.23 worth £6.49 19.4%. "
Major Saver. £4.14 worth £5.10 18.8%. "
Heave Ho. £6.31 worth £7.65 17.5%. "
Jumbo. £11.92 worth £12.99 8.2%. "
February 2x. £14.43 worth £18.51 22%. "
February 2x. £23.38 worth £29.22 20%. "

When I was with PS I needed a discount of about 29% off Baseline to achieve Top Shopper rate. As Tafrock indicated, only the Little Extra pack would have achieved that; all the other packs would contribute to me achieving less than the Top Shopper rate.

fewkeste

DocFrog wrote: »

The Feb discounts say it all - last year Feb packs were 41.5%.

RIP Powershop

Exactly, people are not stupid. People who joined Powershop knew they would have to get a little more involved compared to the 'pay the same DD every month' crowd.

Therefore one would assume that since people look at what kind of discounts they are being offered, do a quick calculation and then realise it's now poor value for money, they will conclude that sadly, it's time to move on I assume.

Shame but there you go - market forces rule.

If you build it; they will come.

If you rip them off; they will leave.

tlcgrantham

Good suggestion in view of the disappointing discounts. I bought all the future packs from November to February and they cost £240.80 and are worth £321.28 at an average discount of 25%. My annual cost at new Baseline rates is £1277 and my new annual Top Shopper cost is £1010 and 21% discount therefore
required to achieve it. I would need discounts averaging 19% to beat Yorkshire Energys' Green Dragon and 25% to beat every other currently available tariff.

fewkeste

tlcgrantham wrote: »

My annual cost at new Baseline rates is £1277 and my new annual Top Shopper cost is £1010 and 21% discount therefore required to achieve it.....

Interesting that there's only 21% difference between Baseline and Top Shopper now - it used to be nearer to 30%.

tlcgrantham

Due to the 7% fall in new Baseline rates and they are probably reducing the discount level to compensate. Whatever the reason it's the Price I end up actually paying over the year that's important to me. As long as it at least equals any other supplier I'll stay with Npowershop.

Equites

For the record, this is what I got offered for September (2nd year with Powershop, Electricity only).

Little Extra Pack - 1 @ 41% discount (equivalent to 4 days power)
Little Extra Pack - 1 @ 21.5% discount (equivalent to 3 days power)
Simple Saver - 1 @ 19.4% discount (equivalent to 4 days power)
Jumbo - 1 @ 8.2% discount (equivalent to 8 days power)

February Future Pack - 2 @ 22% discount (equivalent to 20 days power in total)

Using the Which? Switch Energy comparison site, Powershop have actually moved up the list into a more competitive position compared to previous months (for North Scotland at least). In my case (c.4000kWh annual consumption) they now trail behind Northumbria Energy, Symbio and Outfox the Market with Northumbria being the cheapest by £50 - though this is a variable rate.

fewkeste

Equites wrote: »

Using the Which? Switch Energy comparison site, Powershop have actually moved up the list into a more competitive position compared to previous months (for North Scotland at least). In my case (c.4000kWh annual consumption) they now trail behind Northumbria Energy, Symbio and Outfox the Market with Northumbria being the cheapest by £50 - though this is a variable rate.

I've just done a quote on Energyhelpline and in the East Midlands for my consumption - 8000 kWh (4800 day, 3200 E7) PS are only £2 per year more expensive than Yorkshire Energy.

So, it looks like they have responded to presumably customers leaving.

Moneyspice

Approaching the end of what has been a good first year with Powershop. The initial discount packs and their customer service have all been excellent. I love their App and .... I will miss buying the power packs now I'm leaving!

The new 2nd year baseline tariff version 2 is 7.6% higher than my previous baseline and the future pack discounts being offered for Jan and Feb are just 22%. After allowing for the increase that is a net 14.4% compared to 41.5% for Jan and Feb future packs last year! I'll be sad to leave so I contacted Powershop in hope of a better deal - nothing to offer and Top Shopper 2019 (the price if you buy ALL power packs) would be 26.9% discount on the new standard baseline.

I mulled with a gamble that selective pack purchases would beat the discount rate but recent offers and those winter future packs are suggesting the packs might not be there to buy. My Aug/Sept packs averaged out at 24.25%, Nov/Dec discount future packs already bought are 31.5% but I could only buy less than half a months' power. Jan/Feb on offer at just 22% discount and a baseline increase 7.6% are what forced my decision to leave.

I'm moving to a 12 month fixed tariff with Outfox the Market equivalent to 32% discount on Powershop new baseline and zero exit fee - I just couldn't see the discounts matching that if I stayed with them another year.

People sharing their discount experiences/offers on this forum has been really helpful - a big thank you to you all!

I will post again on the switch and refund experience.

fewkeste

Moneyspice wrote: »

I'm moving to a 12 month fixed tariff with Outfox the Market equivalent to 32% discount on Powershop new baseline and zero exit fee - I just couldn't see the discounts matching that if I stayed with them another year.

Yes I went through a similar assessment process to you which resulted in me sadly leaving PS for Yorkshire Energy.

Be careful with Outfox - I don't think they have very good feedback.

tlcgrantham

Future Pack discounts are an Extra Discount to Top Shopper rates. If you buy all packs (excluding future packs) you will get at least Top Shopper rates. But if you buy future packs you will beat it.
E.G. If you buy future packs at £70 worth £100 and don't buy Jumbo packs for £90 but worth £100 you would beat Top Shopper by £20