Add your feedback on energy supplier Powershop

Somerset_La_La_La wrote: »

Anyone know if Powershop actually report to CRAs? Their website suggests they will/may.

Would be handy for me if they did!

I've been with them a short while now, find it fairly straightforward, and have got all 5 of November's packs and so far 1 for December (bought too early, I'll wait next time!), which seem to cover me all through the winter.

One thing I'm wondering is that I'm being told for example the November Future Pack is discounted by 23.5% and is worth £13. And I can buy it at £10.

So far so good....

But what if the price of electricity, say, doubles. Or halves.....

Is it £13 of whatever the price is on that day/month in future? Or buying whatever £13 works out to in kwh at today's price, and using those kws later on??


Also rather strangely my energy prediction for next August is £22.... my energy prediction this November/December period is £21!!

Powershop only has one tariff. If you buy £13s worth of electricity for £10, then the £13 is used to offset the cost of the electricity you have bought at Powershop’s standard variable rate at the time of use. If the standard variable tariff increases by, say, 20% in November then you will get less electricity for your £13. That said, Powershop has to give you notice of any increase, and you can switch without penalty.

From the terms and conditions:

a We may change our prices and fees, change or remove benefits, change the way we charge for gas and electricity or change these terms and conditions. If we increase our prices or fees or make any other change to the terms of this agreement which disadvantages you, we will tell you about the changes at least 30 days before they begin to apply. If you do not accept the changes, you may end this agreement and change supplier.

Estimates of future energy use are, at best, a guess. Suppliers do not have a crystal ball. For example, my wife and I have been away for 10 days. Now we are back at home, the Powershop App is telling me that I am using about 3kWhs a day more than the computer thinks that I should be using. The App is also under estimating my Winter usage.

CRA - credit reference agency?

Interestingly, 98 days in with 515kWhs consumed my cost of energy consumed compared to the price paid shows a modest saving of 14.69%. None of this was purchased at the standard rate.

Sorry - yes, I mean Credit Rating Agencies. Has anyone got their powershop account conduct on their credit file?

I don't even think they credit searched me at signup, which is usually an excuse suppliers use to stop me getting a good deal... too much of a risk etc.

Carbon Ratings Agency is a good guess and sounds relevant, but sadly not!!

Essexuser wrote: »

Just considering changing power supplier and on checking on a comparison website it would appear that Powershop could save me circa £200 per year. Having done a bit of research, including reading through the very informative posts on this thread and being intrinsically lazy, the question I pose is this: The quoted saving of £200 appears to be achieved merely by using the Powershop standard rate and not having to concern myself continuinally worrying about buying Powerpacks. Could one of the obviously knowedgeable members on this forum confirm this is the case?

Powershop gives the impression on comparison sites that it offers 3 tariffs: Easy Saver; Easy Saver Promise and its Standard Variable Tariff. In truth, there is only one tariff: the standard variable tariff. However, there is what equates to a fixed term contract offer (The Easy Saver Promise). For the FIRST year only, if you do not buy any power packs then, at the end of the year, Powershop will credit your account to the Easy Saver Promise price. To get this price, you have to stay with Powershop for 12 months. You can leave at anytime without an exit fee but you will end up paying for the energy at the standard variable rate (unless you have purchased any discounted packs). I buy discounted packs. If I had transferred to a new supplier on the 31st August, then I would have paid £74.04 for £86.79 worth of energy.

Note: some comparison sites such as Which Switch show Easy Saver as a tariff. Sensibly, imho, MSE CEC does not. It only lists The Easy Saver Promise and the Standard Variable Tariff. All the statements that I receive are based on the variable tariff. Charges are offset by using discounted packs. For example, if I buy a pack worth £11.50 for £10 then I pay Powershop £10. When this pack is applied to my account, the value applied is £11.50. I hope that makes sense?