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We are going to have to keep a close eye on Powershop's shenanigans; (also bear in mind we have Npower lurking behind in the shadows). Hoping it doesn't turn out to be like one of those 12 month "introductory offers" where you suddenly find you are paying a fortune from month 13. I may try to reduce my large credit balance (as far as is feasible) ahead of my anniversary date at the end of October
Image already added0 -
Tafrock,
Apologies!
It must have been that my browser fetched the webpage from my cache, rather than accessing the website!
I'm very disappointed that they have not informed existing customers of these changes!
Personally, I'm going to complain to them that hey have not advised me of this change to the terms and conditions and what impact it has on me now and at the end of 12 months, the end of September, (although my contract has no end date as such).0 -
I agree griffb
I've been very impressed with every aspect of powershop up until now
I only found these changes out by accident when I did a quick comparison on a different compare site to mse. It listed new powershop tariffs so I checked out the website.
I'm quite happy to have my standard rate swopped to a fixed baseline rate come anniversary time (June 4th) but only if that rate is comparable to what I'm. Paying now. Any increase in standing charge especially to the amounts I detailed above makes powershop unviable. I'll keep everyone posted as I approach my anniversary
No wonder people are seeing increased estimates for future months if this is what's planned
That standing charge is scandalous0 -
They have to honour our 12 month price promise anyway zorba cheeks
I'm well below that estimate at the moment with two months to go
What I find particularly bad is people have contacted powershop recently as detailed on this forum and asked if prices were being altered in any way. Powershop denied it
Anyone choosing the lite option at signup would be crazy.0 -
This thread piqued my interest as a recent PS customer.
A year ago I joined PS with Standard Rates of 13.5p/kWh and 16.6p standing charge. If I recall, the estimate was that I could achieve a total cost of c.£321 per year with powerpacks. Easy Saver had a unit price of 10.8p/kWh and Easy Saver Promise was 13.5p/kWh. The Promise equated to an annual cost of about £390. All three tariffs had one standing charge.
How times have changed. For the same annual consumption, Powershop shows a Top Shopper Price of £348.29. The 1Yr Promise is now £493.98 and the Baseline gives a frightening figure of £537.29.
Why? The standing charges for Baseline are now 36.162p/day and for First Year Promise 34.220p/day. Given that all charges are based on the Baseline tariff then it follows that the Powerpack discount would have to total £189. Or, put it another way, average 35%.
Am I missing something? This offer suddenly appears to have got a lot more complicated. I think that I am correct in saving that there is no Promise for customers who have been with Powershop for over a year.0 -
Am I missing something? This offer suddenly appears to have got a lot more complicated. I think that I am correct in saving that there is no Promise for customers who have been with Powershop for over a year.
I believe you are correct, in that there is no price promise after the first year (not that it was difficult to beat anyway, so it was fairly meaningless)
The added complications I think account for my misunderstandings on the price comparison sites a few posts back. With all the references to "Easy Saver" on the initial documentation I kept selecting "Easy Saver" tariffs for comparison purposes. I now realise I should be selecting "Standard" tariff, which seems to give the right answer on most comparison sites0 -
Just obtained a quote for my 12,000 kWh PA Consumption:
- PS Pro = (12,000 kWh x 0.10835p = £1,300.32) + (365 X 0.17388p = £64.46) Total £1,363.78
- PS Lite = (12,000 kWh x 0.14574p = £1,748.88) + (365 X 0.34871p = £127.28) Total £1,876.16
So PS Lite is £512.37 more expensive than PS Pro!
£512.37 charge for paying an equal amount each month by direct debit...
Blimey!
..... try telling that to a Yorkshireman!:rotfl:
PS the Switch to PS Lite at the bottom of the page doesn't work!Supplier Powershop
Tariff Name Powershop Lite - Fixed Term Tariff April
Tariff Type Fixed
Payment Method Monthly Fixed Direct Debit
Unit Rate 1 14.574 pence per kWh
Unit Rate 2 Not applicable
Standing Charge 34.871 pence per day
Tariff ends on 12 months
Price guaranteed until 12 months
Exit fees
(if you cancel this tariff before the end date)
Not applicable
Discounts and additional charges Not applicable
Additional products or services included Not applicable
Estimated Annual Consumption 12000 kWh
Estimated Annual Cost £1,876.16 per annum0 - PS Pro = (12,000 kWh x 0.10835p = £1,300.32) + (365 X 0.17388p = £64.46) Total £1,363.78
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I just don't understand these new standing charge rates. If baseline is replacing standard and all our powerpack discounts are taken from baseline prices dues this mean a 25% discount would be not just off unit cost but standing charge too?? The standing charge is so high it require quite a hefty discount to make it a realistic price
On the subject of comparison sites I've always put my tariff in as standard. Then I compare any saving given in the results against what powershop say I have saved when I open up my app
Alternatively I look at the total cost over a year on alternative companies options and compare them to what powershop say I have used on their website in the monthly purchases tab
So far in 10 months I've spent 478.16 with powershop
But I'm 177 in credit so I calculate that I've spent 301 in 10 months. So across twelve months I expect to pay 360
My best alternative to powershop at moment is 376 with utility point so any increase in powershop would probably lead to me jumping ship0 -
A quote for PS Pro gives the following for the Yorkshire Area:
Baseline 16.118 pence per kWh
Daily charge 36.855 pence per day
Estimated Annual Consumption 12000 kWh
Estimated Annual Cost £2,068.62 per annum
First Year Promise April 2018 Issue 1
14.574 pence per kWh
Daily charge 34.871 pence per day
Estimated Annual Cost £1,876.16 per annum
Top Shopper
11.445 pence per kWh
Daily charge 17.388 pence per day
Estimated Annual Consumption 12000 kWh
Estimated Annual Cost £1,436.87 per annum
So even the cheapest (Top Shopper) is £73.08 more than my current annual estimate!0 -
My quote for 3099 kWh annual has increased by £22 since this change.
4th March I was quoted 395.42 for shop for powerpack offers
Today (just one month later) I get 417 for top shopper April 2018 issue 1
Yes I know I'll beat the 395.42 this year (I estimate I'll use £360 electricity).
However both outfox the market (388) and utility point (376) currently beat powershops quote and are guaranteed prices
I'll stick with powershop until my anniversary and see what I get offered but with the falling discounts on offer in 2018 and these new tariffs the writing is on the wall for my custom.
Shouldn't be suprised really as powershops gas is totally uncompetitive0
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