Add your feedback on energy supplier Powershop

neilsedaka

fewkeste wrote: »

Do you have to have a current account with each of them to 'open access' to the regular saver?

I do have current accounts with all of them except for Leeds Building Society and Virgin Money.

A quick check shows that Halifax does not appear to require a current account.

Bank Of Scotland, HSBC, M&S Bank, Nationwide, Santander and TSB do require current accounts.

Tafrock

Latest March future packs available. What a dreadful discount. 5.4%. March 2018 discount was 15% (I didnt even bother with that as I thought it was too low)

fewkeste

Tafrock wrote: »

What a dreadful discount. 5.4%. March 2018 discount was 15%

Yes when I saw it I was disgusted. How on earth can we expect to achieve the required Top Shopper annual discount with pathetic Future Pack discounts like this. I didn't want to move but if this is the game they're playing then I might have to reluctantly look elsewhere. What Future Pack discount are newer customers already on Baseline Tariff being offered I wonder? Perhaps this rate is so poor because I'm still on the Pioneer rates even though it's now called Baseline.

Equites

Tafrock wrote: »

Latest March future packs available. What a dreadful discount. 5.4%. March 2018 discount was 15% (I didnt even bother with that as I thought it was too low)

fewkeste wrote: »

Yes when I saw it I was disgusted. How on earth can we expect to achieve the required Top Shopper annual discount with pathetic Future Pack discounts like this. I didn't want to move but if this is the game they're playing then I might have to reluctantly look elsewhere. What Future Pack discount are newer customers already on Baseline Tariff being offered I wonder? Perhaps this rate is so poor because I'm still on the Pioneer rates even though it's now called Baseline.

Don't feel discriminated against, as a new customer I've also been given this derisory 5.4% discount for March 2019.
When I saw it this morning I honestly thought there was a mistake, even the jumbo saver discount is 12.3%!
Really shocked to be honest, especially on the back of the "Hole in One" offer that is on at the moment - got a 40.6% discount on that. The February Future Pack had a 41.5% discount.
It looks like they are trying to lock in some price shock they are expecting in their energy prices early next year - quick thoughts I had were....

• High Oil&Gas (O&G) prices - prices are already high and rising, and the UK is a net importer of both. Iran sanctions etc promise more supply disruption and thus higher prices.
• Weak Pound - O&G is sold in dollars and a weak pound means we have to pay even more for energy. Add in a potential £ crisis next March/April if they don't get this Brexit mess sorted out.
• SSE/Npower merger - that is due next spring if I recall correctly. Time to improve margins to cover the cost of the merger??
• Cold Winter - they are forecasting a cold winter in some parts of the world which will adversely impact fuel prices.

Ultimately, I see there is a fixed price deal available in my area for my consumption that works out £26 more per year than Powershop. With these derisory discounts appearing that is looking tempting as at least you know exactly what you are going to pay rather than gambling on what Powershop management are thinking of offering.

MrChips

Tafrock wrote: »

Latest March future packs available. What a dreadful discount. 5.4%. March 2018 discount was 15% (I didnt even bother with that as I thought it was too low)

When I saw it I was so disgusted I put my foot through my smartphone and sent Powershop the bill for a replacement.

Tafrock

Hole in one only 18% for me. I've bought that one as I've been forced to reduce my self imposed cap on discounts from 20% to 15% (otherwise I'd never buy anything!!)

Jumbo only 8.5%. I'll not be getting that one

If winter jumbo packs are not forthcoming like last year (they became available on 14th November last year for 3 consecutive months) then I'll be walking as the price increase and dreadful discounts simply make powershop uncompetitive

Yes they still top all price comparison charts for me but only if the discount achieved averages 26. 1% as promised

I can't see that promise being fulfilled myself

I have two weeks left on my original tariff before the complication of variable standing charges along with a hefty price increase kicks in

I expect my pack discounts to increase dramatically after October 15th

Tafrock

Sent powershop a message lamenting the low discount on this latest future pack and expressing my concern that it seemed unlikely I could achieve 26.5% discount with the low levels of discounts on offer lately. I also enquired if winter jumbos would make a return

Here's their reply.

Hi Taf! Sorry about the delay in reply.
We've actually doubled the amount of future packs that you can now purchase (you should be able to purchase two of the packs that appear in the shop) but we've lowered the percentage discount to compensate. I can appreciate that this does look like it's much less but ultimately it is all designed to reduce your rate to the top shopper rate (which it looks like you are still beating regardless!)
However, you are correct that the Winter Jumbos are going to be released again and this time they will be released with the rest of the packs at the start of the month! Hopefully, this means you should be able to grab some fantastic deals a little more consistently than you could last year.

We are always thankful for your comments on any changes and are really glad that you are so engaged in the system. We of course welcome any further feedback or suggestions that you have. I can assure you, however, that you are on track to continue to beat your Top Shopper rate!

Equites

Tafrock wrote: »

...We've actually doubled the amount of future packs that you can now purchase (you should be able to purchase two of the packs that appear in the shop) but we've lowered the percentage discount to compensate. I can appreciate that this does look like it's much less but ultimately it is all designed to reduce your rate to the top shopper....

Hmm, so what is the excuse for newbies like us that were already getting two packs on offer but have seen their discount slashed from 41.5% to 5.4%?
These winter jumbo packs look critical to achieving the promised rate so I await with interest to see what they are like.
Definitely feeling happier by the day that there are no exit fees for this account!

Tafrock

Winter jumbo packs were 37.2% discount for £12.43 last year . Gave me £19.80 worth of electric. Excellent value

I find the explanation of March powerpack by powershop very disappointing. Who's gonna buy a pack with 5% discount. Yes you can have 4 of them but the discount is appalling

Last year you could buy 5 at 15% discount for march.

However may I add I am still paying less for my electricity than I have done for over 5 years. I'm doubtful that will continue when my new tariff kicks in though

fewkeste

@Tafrock - You beat me to it. I was considering emailing Powershop asking them to explain how on earth we could expect to achieve (in my case) Top Shopper rate (where I'll need to achieve 29% off the Baseline Tariff I'll soon move to) in order to get down to the Top Shopper rate when Future Packs of only 5.4% are being offered?

I think Powershop's explanation that we can buy two of these packs is pathetic. As you said - who wants to buy credit at a paltry 5.4% discount?

@Tafrock - You have written that you can have four of the March Future packs - did you mean that or is that a mistake, as I can only see two being offered in the shop at 5.4%?

Time to start looking I think - it's a shame but the old adage about companies punishing loyalty appears to be raising its head.

The frustrating thing is that the Powershop offering looks good on price comparison sites but only if the Top Shopper rate can be achieved.

Sadly, I'm not sure it can be going forward.