Anyone tried People's Energy

Caeraugirl

Still on a fixed deal with Ovo til October 2019, and notice that Bulb will refund exit fees if I switch to them now.

While researching, however, I came across People's Energy - my DD would drop by a third and even with my overestimated usage for calculation purposes, I should save over £450 / year. Their whole ethos seems brilliant, just wondering if it's too good to be true...?

WhoIsThat

Caeraugirl wrote: »

Still on a fixed deal with Ovo til October 2019, and notice that Bulb will refund exit fees if I switch to them now.

While researching, however, I came across People's Energy - my DD would drop by a third and even with my overestimated usage for calculation purposes, I should save over £450 / year. Their whole ethos seems brilliant, just wondering if it's too good to be true...?

So are you suggesting that if you move from your current supplier, Ovo, to People's Energy to save £450 per year, Bulb Energy will refund your early exit fees? :huh:

If it sounds to good to be true .... well you know the answer to that one.

If you are questioning the £450 per year savings from Peoples Energy, then consult a couple of comparison sites. If they both also give the same result it is probably true as 2 independent companies are unlikley to make the same error resulting in the same erroneous result.

As for People's Energy, you can find the existing feedback thread on this supplier here:
https://forums.moneysavingexpert.com/discussion/5745768/add-your-feedback-on-energy-supplier-peoples-energy

Finally, why are you looking to move from presumably a fixed tariff that you elected to take at some time in the past to a varible tariff?
Particularly at a time when prices are generally rising?

Mind you, if you say you can now save £450 pa vs a tariff you decided to fix some time ago, can you explain to me the process you went through to decide upon the tariff you did choose? :huh:
And what has changed since?

Caeraugirl

Thanks for link to feedback thread WhoIsThat, I couldn't find one earlier so will take a look next.

I switched to Ovo as they were near the top of the list of cheapest suppliers but with good feedback last October, and while I have no problem with them, I got an email from the MSE Energy Club saying I could save at least £150/year by switching again so I used their comparison site this afternoon.

I first found Bulb, who will apparently save me £350/year AND pay my 60 quid exit fees, then when widening the search to suppliers I couldn't switch to directly via MSE, found People's Energy who can apparently save me £450 a year.

Further online research suggests they are consistently lower in price for their single variable tariff than others offering fixed tariffs, even when factoring in the usual price hikes. Plus I like their ethos and values, and the fact that they aim for 100% renewable energy. However they are a relatively new company so there is insufficient feedback for the two comparison websites I looked at to evaluate their customer satisfaction yet, hence my question.

If we were talking a small reduction on my bills I wouldn't consider moving as we have a long fix and no issues with OVO, but this is potentially a big saving over the next 15 months. Hope that clears up any confusion.

Caeraugirl

WhoIsThat wrote: »

As for People's Energy, you can find the existing feedback thread on this supplier here:
https://forums.moneysavingexpert.com/discussion/5745768/add-your-feedback-on-energy-supplier-peoples-energy

And as if to prove my point, not one person has posted any feedback on that thread as yet...:rotfl:

System

Caeraugirl wrote: »

Thanks for link to feedback thread WhoIsThat, I couldn't find one earlier so will take a look next.

I switched to Ovo as they were near the top of the list of cheapest suppliers but with good feedback last October, and while I have no problem with them, I got an email from the MSE Energy Club saying I could save at least £150/year by switching again so I used their comparison site this afternoon.

I first found Bulb, who will apparently save me £350/year AND pay my 60 quid exit fees, then when widening the search to suppliers I couldn't switch to directly via MSE, found People's Energy who can apparently save me £450 a year.

Further online research suggests they are consistently lower in price for their single variable tariff than others offering fixed tariffs, even when factoring in the usual price hikes. Plus I like their ethos and values, and the fact that they aim for 100% renewable energy. However they are a relatively new company so there is insufficient feedback for the two comparison websites I looked at to evaluate their customer satisfaction yet, hence my question.

If we were talking a small reduction on my bills I wouldn't consider moving as we have a long fix and no issues with OVO, but this is potentially a big saving over the next 15 months. Hope that clears up any confusion.

Beware of any PCW that quotes savings - particularly, if you are on a fixed term tariff with LESS than 12 months to run. Why? Ofgem's cost methodology is based on a rolling 12 months projection. It follows that if you have 6 months left on your present tariff, then the 12 month cost will be based on 6 months on present tariff PLUS 6 months on the SVT for your particular supplier. This leads to an inflated cost. You then switch to another fixed tariff that actually costs you more but it will also show a saving.

Before leaping into a switch, check your annual cost on your present tariff with the annual cost of the list of available tariffs. MSE CEC gives you this option. FWiW, Peoples Energy is not that cheap for my postcode and consumption.

WhoIsThat

Hengus wrote: »

Beware of any PCW that quotes savings - particularly, if you are on a fixed term tariff with LESS than 12 months to run. Why? Ofgem's cost methodology is based on a rolling 12 months projection. It follows that if you have 6 months left on your present tariff, then the 12 month cost will be based on 6 months on present tariff PLUS 6 months on the SVT for your particular supplier. This leads to an inflated cost. You then switch to another fixed tariff that actually costs you more but it will also show a saving.

Before leaping into a switch, check your annual cost on your present tariff with the annual cost of the list of available tariffs. MSE CEC gives you this option. FWiW, Peoples Energy is not that cheap for my postcode and consumption.

I understood the OP was using the MSE CEC.
But I would add that other PCWs also allow the alternative method of calculation.
Not, of course, that it would make any difference in this case, because the OP's current tariff does not expire until October 2019, i.e. over 12 months away, so whichever calculation method is used, the results will be the same

(Text removed by MSE Forum Team)

Caeraugirl

Hengus wrote: »

Beware of any PCW that quotes savings - particularly, if you are on a fixed term tariff with LESS than 12 months to run. Why? Ofgem's cost methodology is based on a rolling 12 months projection. It follows that if you have 6 months left on your present tariff, then the 12 month cost will be based on 6 months on present tariff PLUS 6 months on the SVT for your particular supplier. This leads to an inflated cost. You then switch to another fixed tariff that actually costs you more but it will also show a saving.

Before leaping into a switch, check your annual cost on your present tariff with the annual cost of the list of available tariffs. MSE CEC gives you this option. FWiW, Peoples Energy is not that cheap for my postcode and consumption.

Thanks for that, I appreciate the considered response Hengus. I think I'll probably stick with Ovo for now and review again when closer to when my current fix ends.

PeoplesEnergy

Hi Caeraugirl,

Hope you're enjoying what seems like an actual British summer .

Our cheaper than the 'Big Six' price promise means our customers do make saving in the hundreds of pounds and with a company pledge that gives 75% of our profits back to customers it's a great way to save on your energy bills while joining a company that pays its people back.

If you'd like any more information do let me know and hopefully we'll welcome you to the People's Energy family soon.

Thanks,

Sophie

System

PeoplesEnergy wrote: »

Hi Caeraugirl,

Hope you're enjoying what seems like an actual British summer .

Our cheaper than the 'Big Six' price promise means our customers do make saving in the hundreds of pounds and with a company pledge that gives 75% of our profits back to customers it's a great way to save on your energy bills while joining a company that pays its people back.

If you'd like any more information do let me know and hopefully we'll welcome you to the People's Energy family soon.

Thanks,

Sophie

Sophie,

MSErs appreciate the contribution that supplier’s reps can make to this forum but you need to apply to MSE for formal accreditation.

PeoplesEnergy

Hi Hengus,

Happy Monday and we're all up & running now with the formal MSE accreditation; woohoo!

padsonline

Without notice, they have just upped my DD from £78 pm to £216 pm after one estimated reading. No response to my emails and only an expensive phone number to ring.

I think they may be going out of business soon.

I'm off

Phil