New, seriously cheap deal from Eversmart Energy – but should you go for it?

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MSE_AndrewMSE_Andrew MSE Staff
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'New, seriously cheap deal from Eversmart Energy – but should you go for it?'

Read MSE Andrew's full blog: 'New, seriously cheap deal from Eversmart Energy – but should you go for it?'

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  • MABLEMABLE Forumite
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    I signed up for this deal on the 24th April and it seems to be all their fixed tariffs have now disappeared and the only one remaining is Northern Glory and thats a variable tariff. This being for credit meters etc.
  • Kitchen_SinkKitchen_Sink Forumite
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    Eversmart Energy launched their Fixed Smart Special on 16 April 2018
    They did indeed remove this tariff from sale to new applicants on 27 April 2018

    Presumably, Eversmart Energy secured a limited amount of cheap energy which they offered to their customers.
    However, due to the low price (and possibly the MSE promotion), presumably the allotted quantity they secured was all accounted for a few days later, hence their decision to remove this tariff.

    Well done to all those that secured this "seriously cheap deal from Eversmart Energy" :T

    To anyone that missed out, keep checking the comparison sites. A new cheap deal from Eversmart Energy, or indeed another supplier, may come along at any time.

    Remember, you cannot rely on the MSE Cheap Energy Club to alert you to these deals automatically. The Cheap Energy Club only reviews prices once per month, and as you can see, these seriously cheap deals may not be available that long.
  • I'm beginning to come round to the idea that my switch was a mistake. I am trying to get through to them now, and have waited 35 minutes, and waiting.

    They never seem to reply to e-mails except an automated response that says 2 days to reply, and then another where it says a call has been logged, and suggests 3 days to reply. They never have.

    I finally, after several attempts, got a bizarre response via the text messaging system. This went on for 3 days, and had to copy and paste previous conversations. I struggled to get them to accept that the meter readings were correct and these needed to be given to my previous supplier.

    The switch should have taken place on the 14th September, and took 2 months, but I still have no guarantee that it really has happned.

    Their portal link they sent me for opening readings doesn't work, and as far as I can see has never worked.

    I expect that this company will go into liquidation. I need to find another provider. This provider was recommended by the Martin Lewis site, via the switch comparison. I don't blame them as they had had little feedback.

    No matter how enticing the rates for gas and electricity... DON'T DO IT!
  • I have been with this company for about a year now as I was attracted to their cheap deals.

    But,their customer service is non existent.They can contact you but you can't contact them - a bit like some of the broadband companies (Talktalk and Plusnet)

    Such companies only react when you stop the direct debit !

    I would be VERY wary about paying upfront - are they having cashflow problems ?

    I am anticipating trouble when it comes to annual review and meter readings.

    Also,unlike a bank, they do not have FSCS cover,so if they go bump your money will disappear.

    As the saying goes if a deal seems too good to be true,steer well clear. - 12% in this climate come on,even my dog would not sniff that one.
  • edited 28 November 2018 at 12:29PM
    SystemSystem Forumite, Community Admin
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    edited 28 November 2018 at 12:29PM
    lukewarn wrote: »
    I have been with this company for about a year now as I was attracted to their cheap deals.

    But,their customer service is non existent.They can contact you but you can't contact them - a bit like some of the broadband companies (Talktalk and Plusnet)

    Such companies only react when you stop the direct debit !

    I would be VERY wary about paying upfront - are they having cashflow problems ?

    I am anticipating trouble when it comes to annual review and meter readings.

    Also,unlike a bank, they do not have FSCS cover,so if they go bump your money will disappear.

    As the saying goes if a deal seems too good to be true,steer well clear. - 12% in this climate come on,even my dog would not sniff that one.

    Sorry but some of what you have posted is - to put it bluntly - wrong. In October 2016, the energy Regulator Ofgem introduced a Safety Net for consumers. In the event that a supplier becomes insolvent, Ofgem appoints what is known as a Supplier of Last Resort. Under the Safety Net clause, the SoLR is legally required to honour all the credit balances of customers transferred to it. There is no need for FSCS protection as there already is 100% credit protection in place.

    So who pays for this protection? The answer is that the SoLR makes a claim for, inter alia, the credit balances that it pays out. The cost is then recouped from all suppliers who then add the cost to consumers’ bills.

    https://www.ofgem.gov.uk/publications-and-updates/ofgem-safety-net-protects-consumers-cash
  • edited 28 November 2018 at 1:05PM
    joe134joe134 Forumite
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    edited 28 November 2018 at 1:05PM
    Hengus wrote: »
    Sorry but some of what you have posted is - to put it bluntly - wrong. In October 2016, the energy Regulator Ofgem introduced a Safety Net for consumers. In the event that a supplier becomes insolvent, Ofgem appoints what is known as a Supplier of Last Resort. Under the Safety Net clause, the SoLR is legally required to honour all the credit balances of customers transferred to it. There is no need for FSCS protection as there already is 100% credit protection in place.

    So who pays for this protection? The answer is that the SoLR makes a claim for, inter alia, the credit balances that it pays out. The cost is then recouped from all suppliers who then add the cost to consumers’ bills.

    https://www.ofgem.gov.uk/publications-and-updates/ofgem-safety-net-protects-consumers-cash
    Seems Martin doesn’t completely agree with you Hengus.
    What would one switch , except for a cheaper tariff ??
    Does he mean the cheap tariff, or money ?
    My take is the cheap tariff.
    Bit ambiguious !

    What happens if your energy supplier goes bust? Last week both Extra Energy and Spark Energy collapsed, the fifth and sixth providers to fail this year. If you're affected, see our Extra Energy collapse help and Spark Energy collapse help guides. Yet the Ofgem 'safety net' means three important things.

    - Your gas and electricity will stay on, so there's continuity of supply.
    - Any credit you have will be protected.
    - You will automatically be moved to a new company.

    That means there is some peace of mind.

    “Though if you moved to a small firm for its cheap tariff, you'll likely lose that if it goes bust. “
    Yet things may soon change, as after listening to us, Ofgem is consulting on how to improve firms' stability.
  • SystemSystem Forumite, Community Admin
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    joe134 wrote: »
    Seems Martin doesn’t completely agree with you Hengus.

    What happens if your energy supplier goes bust? Last week both Extra Energy and Spark Energy collapsed, the fifth and sixth providers to fail this year. If you're affected, see our Extra Energy collapse help and Spark Energy collapse help guides. Yet the Ofgem 'safety net' means three important things.

    - Your gas and electricity will stay on, so there's continuity of supply.
    - Any credit you have will be protected.
    - You will automatically be moved to a new company.

    That means there is some peace of mind.

    “Though if you moved to a small firm for its cheap tariff, you'll likely lose that if it goes bust. “
    Yet things may soon change, as after listening to us, Ofgem is consulting on how to improve firms' stability.

    Which bit is ML disagreeing with?

    The bit that will be lost is the 'cheap tariff' not a credit balance with the failed supplier. New regulations come into force in Jan 19 to allow the SoLR to recover any credit re-paid to ex customers of the failed supplier (ie; those who have already switched away and were waiting for their credit balance to be repaid.)
  • joe134joe134 Forumite
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    Hengus wrote: »
    Which bit is ML disagreeing with?

    The bit that will be lost is the 'cheap tariff' not a credit balance with the failed supplier. New regulations come into force in Jan 19 to allow the SoLR to recover any credit re-paid to ex customers of the failed supplier (ie; those who have already switched away and were waiting for their credit balance to be repaid.)
    The cheap tariff.
    Bit vague.
    My take is one loses the cheap tariff, not money.
  • SystemSystem Forumite, Community Admin
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    joe134 wrote: »
    The cheap tariff.
    Bit vague.
    My take is one loses the cheap tariff, not money.

    It is up to the SoLR what tariff is offered. When the Coop took over GBEnergy's customers, they honoured the original tariffs/contracts. It hasn't happened since.
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