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2500 kWs/year. Easy Saver is within £5 of the Iresa 2 fixed cost that I secured last year. Other positives are PS’s excellent billing and customer service.
That's strange that it is so close, as by using the current Iresa Fixed 4 electricity tariff, (which I assume is slightly more expensive than Iresa Fixed 2) it works out at £358.97 for our region for 2,500 kWhs.
That is just over £20 cheaper than the PS Easy Saver Promise of you say £379.84.
However, I see that there is the potential of making an actual saving of just over £28 (compared to Iresa) to achieve the best value at £330.72 by paying for your electric 6 months in advance, providing the maximum discounts are actually achievable.0 -
Have a read of your Welcome E-Mail which forms part of your contract with Powershop
@Hengus
Not in mine. I joined 31/3/17. When did you join? My Ts & Cs PDF document was created 22/12/16 (under File, Properties, Description.)
What about yours?
Perhaps the Easy Saver Promise was introduced after I signed up.0 -
@Hengus
Perhaps the Easy Saver Promise was introduced after I signed up.
That may well be the case. I switched in May. Apologies, I thought that you were a recent PS convert. As you know, suppliers can change their offer at anytime.
Looking at the UKPower website, PS issued an Easy Saver Promise tariff on the 5th April; 15th May and 30th June.0 -
That may well be the case. I switched in May. Apologies, I thought that you were a recent PS convert. As you know, suppliers can change their offer at anytime.
Looking at the UKPower website, PS issued an Easy Saver Promise tariff on the 5th April; 15th May and 30th June.
Even though I initiated my switch on 31/3/17 and went on supply on 19/4/17, I didn't get an online account until 30/6/17. I believe the delay was caused by my former supplier not providing PS with the relevant information in a timely manner. So, technically I'm only 21 days into understanding about Powerpacks etc.
I read what I could beforehand, watched YouTube videos etc. but the best way to learn (as you know) is to actually have an account and see how things work.
Even though I'm only 21 days 'live', I feel I've got a good grasp of things now. I still remember how daunting it felt at the start so I have a great deal of sympathy for those who feel it's too complicated. It isn't really - it just looks that way when you're unfamiliar with how things work.
I just hope the perceived complexity of the PS way of doing things doesn't put potential customers off. On this forum we've already had one poster announce it's too much effort for them - I wonder how many more potential customers feel that way.
Furthermore I think that once a customer is up to speed (like I feel I am) it takes very little to stay on top of things and get a good deal.0 -
Having studied this forum I can't see the point of going with Powershop when I can go to Iresa for just an extra £8.88 pa without the hassle of trying to get all the cheap packs.
If you only buy the highest discounted packs ca. 23% or more will that cover your years demand? If you buy any packs with lower discounts then you will be out of pocket surely?0 -
Having studied this forum I can't see the point of going with Powershop when I can go to Iresa for just an extra £8.88 pa without the hassle of trying to get all the cheap packs.
If you only buy the highest discounted packs ca. 23% or more will that cover your years demand? If you buy any packs with lower discounts then you will be out of pocket surely?
I suggest that you take a look at the feedback on Trustpilot, and Facebook re Iresa.0 -
Having studied this thread, the points i note are:
a) There is still some degree of confusion from people who are already Powershop customers
b) You will have to outlay substantial amounts of money 6 months in advance in order to potentially receive discounts which have yet to be proven.
c) It appears this model is for more "affluent" customers or those with more disposable income, rather than those on a low income?
d) Make sure you read the t&c's for everything you purchase
e) Customer service - The Powershop reps although present on here, haven't replied to questions asked or posted on this thread for a week, (last post 14/07/17).
My conclusions:
After following the energy forum for some years, we've all seen the changes, complaints etc, around certain energy companies. We are as well informed as any energy consumer and it makes me think more carefully about my choice of energy company. I don't require any hassle or stress in my life, whilst i'm still ultimately super price conscious, I also consider an "all round package" from my energy company, i.e. all the services an energy company provides, whilst for some, they may only have to consider price?
However, I'm still paying less for my energy, than any savings i could potentially make from using Powershop, by using a "traditional" tariff, so i must be succeeding somewhere?
For me personally, I prefer the stability of having a fixed tariff, safe in the knowledge of how much my energy will cost for a fixed period of time with manageable payments for my energy usage. I'm not in a position to pay ad hoc payments for half a years usage of energy upfront as i'm sure will many others? Financial affairs have to be carefully budgeted and managed.
We all have different circumstances and needs, and what suits one person won't necessarily suit another?
Another company and thread i shall still watch with interest, (interest being the operative word).
I note after dominating the ratings in New Zealand for several years, Powershop has finally been replaced at the top of the standings. The new kid on the block is Electric Kiwi, achieving five-star reviews in most categories, including overall customer satisfaction.This is a particularly impressive feat in light of the fact that this category has been dominated by Powershop for the past five years running. With a new winner crowned and three brands in hot-pursuit scoring four-stars for overall satisfaction, it seems that power companies have really stepped up their game of late.
https://www.canstarblue.co.nz/energy/electricity-providers/
Ps - It's not my intention to sound patronizing. I'm just stating facts as i see them.
Fred - Where's your get up and go?
Barney - It just got up and went.
Carpe diem0 -
@fredandwilma
There is definitely a learning curve for customers switching to Powershop. That said, much of what you have posted above applies to any new energy contract; particularly, the need for consumers to read the detail in their Welcome Packs and terms and conditions. As far as customer service is concerned, I have no idea why Powershop has stopped making contributions to this forum. What I would say is that Powershop's online and telephone customer service has to date been exceptional. Their billing is detailed and clearly presented; moreover, it is sent out on the stated review day and the statement includes the actual meter reading if one is provided on that day.
There may be an element of truth in your assertion that consumers need to pay in advance to secure high discount Future Packs. That said, if I look back to my first six weeks, I used £31.89s worth of energy and was charged only £27.51 (the billing shows which powerpacks have been allocated to each month's usage). This equates to a saving of 13.79% on the standard variable tariff. I only need to achieve 16.9% to achieve the effective Easy Saver cost.
The above is not the whole story as percentages lie. For example, this month I have purchased a pack with a 28% saving for use in the current month. In other words, for every £1.39 of cost that appears on my monthly statement, I will only pay £1. That said, the 39p saving is only applied to the unit prices charged as the daily standing charge remains fixed. It follows that the 28% power pack saving is in effect a much higher percentage reduction in the cost per kWh. To achieve the Easy saver cost, I need to see an overall percentage saving on my unit price of 20%. This is why I now am more confident than I was a week or so ago that the Easy Saver cost is achievable. FWiW, a comparison today shows that the cheapest move for me would be to Economy Energy at £30 a year more than the Easy saver cost (Iresa seems to have disappeared again - not that I would ever considering going back). It is therefore worth my while sticking with Powershop for the moment. Whether I needed to buy the Future Packs, only time will tell.
Maths: Buy a £1.39 power pack: cost £1. £1.39 equates to two days standing charge and c.8kWhs of electricity. The equivalent cost of the kWhs in this pack is therefore £1 - 33p standing charges or 67p/8 = 8.4p/kWh0 -
I honestly cant believe this post is still going. You would need to be a Philadelphia (the city not the soft cheese) lawyer to work it all out. Sorry but life is way to short to be faffing about with powerpacks. Supply me with power and tell me what to pay. Sorry if this goes against what you are trying to save but come on the previous posts on here must have took ages to type. And all about saving what £1 a month. COME ON0
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Having studied this forum I can't see the point of going with Powershop when I can go to Iresa for just an extra £8.88 pa without the hassle of trying to get all the cheap packs.
If you only buy the highest discounted packs ca. 23% or more will that cover your years demand? If you buy any packs with lower discounts then you will be out of pocket surely?
Hengus has made a valid point about Iresa. Like you my next cheapest option would be Iresa (about £40ish more expensive) but I think the customer reviews I read concerned me.
Addressing your other points:
Buying only higher discount packs covering your annual demand.
No I don't think it will - but it depends on your annual consumption. Everyone can buy 5 X £10 of Future Packs each month I believe, so if your annual consumption was tiny, you might be able to stock up on November, December, January & February Future packs.
I think I read somewhere that PS state that they expect customers to be able to make an AVERAGE saving of around 20-22%. Therefore, some will make less and SOME will make more.
It looks like they are setting the % discount on Future and Special packs so that the typical annual saving for most active buyers of Powerpacks will be in the 20-22% range.
It follows that given they've set summer discounts in the 12-15% range (for Future Packs) it follows that the % discount for winter period Future Packs (and presumably in-month special packs) will be higher than 22% to make things even out over the year. We've already seen the start of the ramping up of Future Pack discounts with the November Future Pack at 23.5% discount.
I wish they had set the discount at 22% all year round.
I would encourage you to give PS a go. As I wrote in a previous post, I've been 'live' for 22 days now and I feel I've got the hang of Powerpacks in all their incarnations now. It's really quite easy once you have an account up and running - I'm sure/I hope Hengus will back me up on that.
Also, the later you leave things to join PS, the nearer to higher discount PowerPacks time you will be.
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