Add your feedback on energy supplier Powershop

System

The question that I would be asking is whether the Baseline tariff will be applied to existing customer accounts? If so, then I would have thought that the SLC23 - 30 day notification period would apply.

It will be interesting to see if other suppliers hike their SVTs ahead of the Government!!!8217;s SVT cap.

griffb

Here are my results (Eastern region), based on 6700kwh

Top shopper £812.80per year
First Year Promise £1030.81per year
Baseline £1139.89per year

Unit cost is 15.792p (base), 11.204p (target)
S/C is 22.418p/day (base), 17.031p/day (target)

For comparison current year estimate for 6700kwh are £967 (base), £783 (target). Unit cost 13.45p > 10.76p; SC 17.03p/day

The next best, Outfoxthemarket.com, comes in at £831, but including an eyewatering standing charge of £168

As an aside my usage has plummeted. From an opening forecast of 6700 PS are now estimating 5500kwh for the 12 months. I think that is probably too low, as our heating is oil. The reason I reckon is that our son moved out last September. We were expecting him back in January but he is still away. That's saving a few clothes washing cycles and a lot of computer power drain.

Tafrock

Have you tried a comparison on energyhelpline.com

For some reason mse don't list utility point. Their standing charge is very low for both gas and electricity. Electricity it's 11.02p per day for me

My only question with powershop is are these new standing charge rates going to apply when my price promise expires

System

Tafrock wrote: »

My only question with powershop is are these new standing charge rates going to apply when my price promise expires

One for the MSE investigative team to investigate - me thinks.

Tafrock

Here's what it says on the powershop website

'I joined Powershop before April 2018 what is my pricing model?
If you joined us before April 2018 you will be a Powershop Pro customer on a standard variable rate and buying Powerpacks to save against this rate. Once you have been with us for over 12 months, we will get in touch to move you from your standard variable rate to a fixed rate. You will still buy Powerpacks to save against this rate as normal, and all the details regarding the tariff costs will be in our communication.

Your First Year Promise (previously known as Easy Saver Promise) will also end after you have been with us for 12 months, but by then you will be buying Powerpacks and beating your First Year Promise anyway!'

I thought I understood how powershop works - well I did until today

But I just can't fathom how these different standing charges work

Hopefully all will become clear in this communication they say I'll receive

Z0rba-cheeks

Several weeks ago I contacted PS regarding the future estimated figures that were showing in my PS Phone App for Oct 2018/19.

My concern was that the "Forecast Cost" shown in the App was significantly (more than 30%) higher than the equivalent month in 2017/18.

I'm not expecting my consumption to increase by around 30% so I asked why this figure was so high.

The figures for my consumption are as follows

Oct 17 - Actual £79.74, Oct 2018 - Forecast £100.78
Nov 17 - Actual £71.01, Nov 2018 - Forecast £106.57
Dec 17 - Actual £94.20, Dec 2018 - Forecast £130.73
Jan 18 - Actual £77.56, Jan 2019 - Forecast £113.38
Feb 18 - Actual £66.47, Feb 2019 - Forecast £97.55
Mar 18 - Actual £79.16, Mar 2019 - Forecast £103.63
Apr 18 - Forecast £76.62, Apr 2019 - Forecast will be available in May 2018

The answer that PS gave me to the question "Why is the forecast so high" was "No, there are no planned price increases, It's just an estimate".

Well, now it is apparent that there IS a planned price increase.....!

PS you can only see these forecast figures,for the next 12 months, that I refer to above in the PS Phone App.

griffb

Tafrock wrote: »

For some reason mse don't list utility point. Their standing charge is very low for both gas and electricity. Electricity it's 11.02p per day for me

Interesting electricity quote from Utility Point - within a whisker of the Powershop target cost even after powerpacks, and fixed for 16 months. With the smaller discounts on offer from PS over the summer months I am sorely tempted to jump ship now. There isn't much of a track record to review though; wouldn't want to take the plunge only to find it's another Iresa

Image already added

Z0rba-cheeks

Here is the comparison of annual consumption figures of PS vs Utility Point (Just Up 18 Wk13 Direct Tariff):

1000 kWh UP £153.97 PS £171.83 UP Saving £17.86
2000 UP £267.70 PS £280.19 UP Saving £12.49
3000 UP £381.43 PS £388.55 UP Saving £7.12
4000 UP £495.16 PS £496.91 UP Saving £1.75
4324 UP £532.01 PS £532.01 Equal Cost for both suppliers
5000 UP £608.89 PS £605.27 PS Saving £3.62
6000 UP £722.62 PS £713.63 PS Saving £8.99
7000 UP £836.35 PS £821.99 PS Saving £14.36
8000 UP £950.08 PS £930.35 PS Saving £19.73
9000 UP £1,063.81 PS £1,038.71 PS Saving £25.10
10000 UP £1,177.54 PS £1,147.07 PS Saving £30.47
11000 UP £1,291.27 PS £1,255.43 PS Saving £35.84
12000 UP £1,405.00 PS £1,363.79 PS Saving £41.21

So, If your annual Electricity kWh consumption is less than 4324, Utility Point are cheaper than Powershop.

Example: 1,000 kWh with Utility Point would save you £12.49 vs Powershop.

If your annual kWh consumption is greater than 4324, Powershop are cheaper than Utility Point..

Example: 12,000 kWh with Powershop would save you £41.21 vs Utility Point.

- Utility Point is a 16 month fixed price contract with a £30 exit fee.
- Powershop is a 12 month fixed price contract with a Zero exit fee.
NOTE: The above figures are based upon prices for Yorkshire Region.

The choice is now yours.....

..... My view is that Utility Point is cheaper for low consumption (Less than 4324 kWh per year) AND you pay a fixed amount by direct debit each month based upon your estimate of your annual consumption and monthly readings.
No worries about :

1. "Why are the discounts on powerpacks so low"?
2. No constant "Purchase in advance"
3. " I have to buy this powerpack in the next 4 days or it will be removed from the shop"

As I am a high consumption user (12,000 kWh), I'll save the £41.21 and stay with PS (Spot the Yorkshireman!) :beer:

Tafrock

There is another utility point tariff that is even cheaper for me. Its a variable rate with no exit fee - flexi online tracker 18wk13 direct
Unit rate 10.842. Standing charge 11.02p per day (£40.24 annually) .

My powershop at moment quotes 10.8p after buying powerpacks (though I have bettered that). Of course powershops standing charge is dearer at 16.6p (ie £60.59 annually)

The one you mentioned above is fixed rate. Unit rate 11.209. Standing charge 11.02p per day

System

Tafrock wrote: »

Here's what it says on the powershop website

'I joined Powershop before April 2018 what is my pricing model?
If you joined us before April 2018 you will be a Powershop Pro customer on a standard variable rate and buying Powerpacks to save against this rate. Once you have been with us for over 12 months, we will get in touch to move you from your standard variable rate to a fixed rate. You will still buy Powerpacks to save against this rate as normal, and all the details regarding the tariff costs will be in our communication.

Your First Year Promise (previously known as Easy Saver Promise) will also end after you have been with us for 12 months, but by then you will be buying Powerpacks and beating your First Year Promise anyway!'

I thought I understood how powershop works - well I did until today

But I just can't fathom how these different standing charges work

Hopefully all will become clear in this communication they say I'll receive

Interesting, but it still doesn't get away from the fact that anyone joining today with my annual usage for electricity only would have a one year fixed deal (which I accept would be lower with power packs) amounting to £493.98 compared to £379.74 a year ago. (a 30% increase)

The increase in the SVT (call it what you will) of 38% is staggering. I can only conclude that they are struggling and worried about the SVT price cap.

Source Powershop website