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Add your feedback on energy supplier Powershop

edited 30 November -1 at 1:00AM in Energy
1.6K replies 157.4K views
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  • TafrockTafrock Forumite
    630 posts
    500 Posts Second Anniversary
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    It will be interesting to see when this new fixed rate is offered to me.

    I would assume I'd be notified around 50 days in advance as I would be if I was on a fixed term tariff (in fact this is what happens with my gas tariff as I'm on a fixed contract with zog)

    If this is the case I should be notified imminently.

    My concern is none of these changes were communicated to existing loyal customers. I stumbled on them by accident

    I'm not against going onto a fixed contract with option of reducing my costs via purchasing powerpacks

    In effect its not a fixed contract it's a capped contract

    It's powershops handling and explaining of the changes that worries me slightly though

    There is no real need to have different standing charges mentioned in fact they'd be better off keeping to one standing charge

    Or even maybe removing it altogether

    They can price their product how they want at end of day its the final cost to us the customer thats important to us and the ability to compare the cost effectiveness of powershops tariffs to other companies products

    All these changes have done to me is confuse the hell out of me (previously a strong advocate and supporter of powershops methods and model) and I'm sure I'm not the only one
  • edited 8 April 2018 at 2:18PM
    SystemSystem
    177.7K posts
    10,000 Posts Name Dropper
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    edited 8 April 2018 at 2:18PM
    It will be interesting to see how all this plays out if, or when, E.oN becomes the new owner of NPower.

    * if you are not aware, NPower and SSE are merging, and E.oN has agreed terms to purchase NPower with a partial equity share with NPower!!!8217;s owner - Innogy.
    All subject to CMA review.
  • TafrockTafrock Forumite
    630 posts
    500 Posts Second Anniversary
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    Wasnt aware of the eon npower deal. Thank you for the info hengus
    At end of the day I'm happy not being Tied down to a contract and am free to leave at anytime

    I certainly wouldn't enter into a fixed length contract with exit fees with powershop at the moment

    I guess at the moment I have best of both worlds the reassurance of a capped price with potential for great savings via powerpacks as opposed to a svr which can in effect alter at any time given sufficient notice

    My future with powershop all hinges on this mysterious deal they will offer me come my 12 month anniversary which is approaching fast
  • griffbgriffb Forumite
    138 posts
    Tenth Anniversary 100 Posts
    Tafrock wrote: »
    Should I stay or should I go??

    Only I can decide that I guess

    Well I think you have convinced me. One aspect that has just occurred to me - if something were to happen to me, my nearest and dearest would not have the faintest idea what is going on, so "keep it simple (and cheap if possible)" will be my new aim.
  • TafrockTafrock Forumite
    630 posts
    500 Posts Second Anniversary
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    Yes I've always had that notion in the back of my mind too griffb.

    I'll give powershop the benefit of the doubt until I receive my fixed offer (though its really a capped offer) as a capped offer without exit fees is preferable to both a variable no exit fee deal or a fixed with exit fee deal.

    Still unimpressed these changes weren't communicated to existing customers though
  • edited 10 April 2018 at 3:29PM
    griffbgriffb Forumite
    138 posts
    Tenth Anniversary 100 Posts
    edited 10 April 2018 at 3:29PM
    I am on my way to Utility Point. I will let you know how it goes, but so far so good - I signed up on the UP website yesterday morning, by evening I had the "we heard you are leaving us" email from PS and all the app graphs and charts now stop at 30th April, so I guess they have already agreed the changeover date.

    Because of the way PS powerpack discounts work I will have had a phenomenally good 6 months; but with the lower summer discounts, the uncertainty over renewal terms and prices in October, not to mention the (hopefully unlikely) possibility of me being unable to look after the account at some point, the UP offering seems too good to pass up.

    I have gone for the 16 month fixed offering, which gives a 12 month cost very close to PS's current figures. Note that some comparison sites show UP tariffs which the site can switch you to, and others which are only available direct from UP. Check the selection criteria carefully!
  • TafrockTafrock Forumite
    630 posts
    500 Posts Second Anniversary
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    Look forward to receiving updates from you griffb. In particular how the whole closing procedure and refunds of powershop credit goes .

    I've had a rethink and am staying with powershop for the meantime. As you say the past 6 months have been incredible value with powershop so im hopeful come winter the larger discounts will return

    It appears as mentioned by others on here these changes to powershop are more to ensure their pricing meets new government regulations than an actual price increase. There were fears government regulations would be to the detriment of customers who shop around for the best deals and this does appear to be the case. However I understand why these regulations are necessary to help people who don't bother shopping around for the best prices.

    The confusion that arose coupled with an incredibly competitive tariff from utility point nearly led to me jumping ship

    However after discussions with helpful people at powershop I am confident my price for powerpacks will ensure powershop stay competive in the months ahead and won't see my prices increase

    At the moment I'm on track to easily beat my easy saver promise of 395.43. My 12 month cost calculated using an average of my actual 10 month usage figures should be in region of £366 for 3099 kwh .

    For same usage utility points variable tariff comes out as 376.24 but of course this is guaranteed whereas powershop depends on me buying powerpacks which is an unknown variable

    I like the innovative way powershop works too and the whole raft of information they give you.

    I hope utility point is good for you griffb. Please keep posting and thanks for joining in the discussion
  • dave_dphdave_dph Forumite
    543 posts
    Part of the Furniture 500 Posts Combo Breaker
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    Well my switch completed yesterday, so I'm just waiting for my meter readings to be confirmed and my account / shop to go live. I'm on the original tariff and keen to start buying my discounted power packs! Quite looking forward to using the app and getting into the new way of buying my electric.

    :)
  • Eversmart Energy have today (16th April 18) launched a new tariff "Fixed Smart Special" which is a Fixed Price 12 month contract with no exit fee.

    Charge is 11.710 pence per kWh (NOTE: Yorkshire Region price).

    There is no standing charge.

    Comparing the Powershop (PS) and Utility Point (UP) products the Eversmart Energy (EE) deal is the cheapest for all who have an annual consumption of less than 7,500 kWh per Year.

    Examples:
    • 1000 kWh UP £153.97, PS £171.83, EE £117.10 (24% saving on UP)
    • 2000 kWh UP £267.70, PS £280.19, EE £234.20 (13% Saving on UP)
    • 3000 kWh UP £381.43, PS £388.55, EE £351.30 (8% Saving on UP)
    • 4000 kWh UP £495.16, PS £496.91, EE £468.40 (5% Saving on UP)
    • 5000 kWh UP £608.89, PS £605.27, EE £585.50 (3% saving on PS)

    NOTE: UP Cheaper than PS up to 4,324 kWh per year, then PS Cheaper

    So what's the catch?

    They require that you install a Smart meter - (SMETS 1, I presume), however, if you already have a smart meter....
    See which.co.uk to perform the comaprison
  • griffbgriffb Forumite
    138 posts
    Tenth Anniversary 100 Posts
    Eversmart Energy have today (16th April 18) launched a new tariff "Fixed Smart Special" which is a Fixed Price 12 month contract with no exit fee.

    Charge is 11.710 pence per kWh (NOTE: Yorkshire Region price).

    There is no standing charge.

    Same unit price for Eastern Region. At my reference level (6700kwh, but probably won't use that much due to kids fleeing the nest) EE, PS and UP are all within the £780-£790ish p/a band, BUT:
    • PS will be dearer during the summer months due to powerpack discounts
    • PS deal for me runs out end October
    • EE smart meter (don't want/need one, despite being a gadget freak :D )
    • UP is a 16 month fix (albeit with an exit penalty)
    So the UP deal still does it for me.

    As an aside, with the "Big Boys" starting to jack up their prices, how are these little outfits sourcing such cheap deals?

    Transfer update: notification received from UP of d/d setup, and just this minute a timeline email saying my reading will be required in 7 days.
    The PS website is spouting some gibberish. It now says I am 12 days / £142 ahead. Both numbers look to be reducing to zero on 30th April. I expect it will all sort itself out. Having dumped the numbers into a spreadsheet I am anticipating a refund of £230 odd for unused powerpacks (at cost)
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