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  • FIRST POST
    • drbanni
    • By drbanni 23rd Sep 17, 1:07 PM
    • 2Posts
    • 0Thanks
    drbanni
    Outfoxthemarket
    • #1
    • 23rd Sep 17, 1:07 PM
    Outfoxthemarket 23rd Sep 17 at 1:07 PM
    Anyone had any experience with Outfox the market ? Prices are astoundingly low, but it all looks a bit dodgy !
Page 1
    • footyguy
    • By footyguy 23rd Sep 17, 1:47 PM
    • 4,136 Posts
    • 1,672 Thanks
    footyguy
    • #2
    • 23rd Sep 17, 1:47 PM
    • #2
    • 23rd Sep 17, 1:47 PM
    http://forums.moneysavingexpert.com/showthread.php?t=5716223
    • JJ Egan
    • By JJ Egan 23rd Sep 17, 2:04 PM
    • 10,615 Posts
    • 4,509 Thanks
    JJ Egan
    • #3
    • 23rd Sep 17, 2:04 PM
    • #3
    • 23rd Sep 17, 2:04 PM
    To outfox the market requires buying in bulk in advance of the market rises .

    Only tariff i checked is the same as my current costs . PLUS a monthly membership cost minimum 14 Pm but no standing charges .
    • footyguy
    • By footyguy 23rd Sep 17, 2:22 PM
    • 4,136 Posts
    • 1,672 Thanks
    footyguy
    • #4
    • 23rd Sep 17, 2:22 PM
    • #4
    • 23rd Sep 17, 2:22 PM
    ... Prices are astoundingly low,...
    Originally posted by drbanni
    Not really

    I just did a check on my usage - needed to assume I was on a single rate electricity tariff as they don't offer E7

    Anyway, on that basis for us (as low users) we were quoted 488.50pa via their website (price includes their membership fees)

    Consulting a comparison site (I used EHL) I could obtain the same gas & electricity on the same basis from another dual fuel supplier for just 484 pa.

    When I look at seperate suppliers, the total annual cost reduces to 478pa according to the output from EHL.

    Also these rates from EHL are fixed, so no chance of the tariff increasing for 12 months.
    (In the unlikely event of someone coming along later with a cheaper tariff, the dual fuel supplier at least allows switching without incurring any early exit charge)

    Edit1: I'm not sure if the VAT is inclusive in the supplier quotation (it is in all prices from EHL) as their terms clearly state:
    6.4 We!!!8217;ll add VAT to our charges at the applicable rate (currently 5% for energy usage, 20% for any other charges).
    Anyway, even if we look on the positicve side, the supplier's charges are far from astonishingly low, being easily beaten by others (at least for us, assuming a single rate electricity meter) by reference to any comparison site
    (we save even more by being on E7)
    Last edited by footyguy; 23-09-2017 at 2:32 PM.
    • drbanni
    • By drbanni 24th Sep 17, 9:12 AM
    • 2 Posts
    • 0 Thanks
    drbanni
    • #5
    • 24th Sep 17, 9:12 AM
    • #5
    • 24th Sep 17, 9:12 AM
    For me it looked promising as I'm a high user.
    However, when I engaged in a web chat, the guy on the other end (one mentioned in the testimonials) was working off his phone, so at home I guess, and in the course of the chat mistakenly sent me a link to a very expensive Swiss watch site !
    As is stands, I suspect this is 3 or 4 wealthy finance guys looking to make a killing - very personal service now which might well not be the case if it catches on.
    • footyguy
    • By footyguy 24th Sep 17, 9:52 AM
    • 4,136 Posts
    • 1,672 Thanks
    footyguy
    • #6
    • 24th Sep 17, 9:52 AM
    • #6
    • 24th Sep 17, 9:52 AM
    For me it looked promising as I'm a high user.
    ...
    Originally posted by drbanni
    Hmmm...

    Did a similar comparison based on 4000kWh of electricity and 20,000kWh of gas (well above average usage)

    Your "promising" supplier quotes 1116.99 based on the Eastern supply region
    Yet a quick look at any comparison site shows the same gas & electricity could cost as little as 1089 from a dual fuel supplier.

    But carry on plugging away...

    Good luck!
    • Neil Jones
    • By Neil Jones 24th Sep 17, 7:35 PM
    • 1,372 Posts
    • 831 Thanks
    Neil Jones
    • #7
    • 24th Sep 17, 7:35 PM
    • #7
    • 24th Sep 17, 7:35 PM
    This doesn't show up on the Energy Club but I can get access to it through USwitch.

    Uswitch seems to suggest there are standing charges which I presume go towards the "Energy Hero Club Membership". An article on utiliyweek.co.uk says "[Head of operations Brad] Goodfellow said for a monthly membership fee and a standing charge, customers will be able to buy electricity directly at wholesale prices." (my emphasis)

    Crunching the numbers for a low user like myself in the traditional manner using the USwitch figures, this would save me 22.23 on my bills. However the Outfoxthemarket site "quote me figures" tells me 500 a year as a low user which doesn't tally with my own calculations - in fact its the best part of 130 below what I worked it out to be on the uSwitch figures.

    Something doesn't seem right to me. However electricity unit price wise, knocks everything else out the park and the prices are marked on USwitch as variable but the site suggests they're fixed for 12 months.
    Last edited by Neil Jones; 24-09-2017 at 7:39 PM.
    • griffb
    • By griffb 25th Sep 17, 11:25 AM
    • 43 Posts
    • 9 Thanks
    griffb
    • #8
    • 25th Sep 17, 11:25 AM
    • #8
    • 25th Sep 17, 11:25 AM
    Coming to the end of my Avro fixed term, I have been looking at Outfoxthemarket as they popped up on Uswitch as being one of the cheapest (along with Iresa). I'm resigned to having to pay significantly more than I am on the current contract, and would probably give them a try for a few months, were it not for the eye-wateringly large standing charge, sorry I mean "membership fee" of 168pa. Does it really cost them so much more to service a "heavy" user? If so why? If that charge were at a more reasonable level, ie the same as a "light user" it would provide a cushion against price rises on the variable contract
    • Hengus
    • By Hengus 26th Sep 17, 8:31 AM
    • 6,037 Posts
    • 3,716 Thanks
    Hengus
    • #9
    • 26th Sep 17, 8:31 AM
    • #9
    • 26th Sep 17, 8:31 AM
    Does it really cost them so much more to service a "heavy" user? If so why? If that charge were at a more reasonable level, ie the same as a "light user" it would provide a cushion against price rises on the variable contract
    Originally posted by griffb
    Might there be a clue in the words 'membership fee'? Lots of low users with many membership fees may be a more attractive business model than a few customers who use lots of energy.
    • runningman100
    • By runningman100 26th Sep 17, 7:58 PM
    • 3 Posts
    • 4 Thanks
    runningman100
    I think the main appeal that has been missed here is that, as long as they do what they say they will do, there will be no need for an annual renegotiation of rates.

    If they simply sell you wholesale rates and add a membership fee to cover their overhead each month then in theory you get cheap energy every month (when I say cheap I mean tied to actual supply prices) and there will be no chance of being pushed over to an expensive standard variable tariff at the end of any fixed period.

    I personally think it's a very good idea, remains to be seen if they can deliver on their promise but surely it must be a sustainable model if they simply charge variable wholesale prices and a membership fee to cover the running costs, if the business is loss making you simply raise the membership fee and in theory wholesale rates should never be uncompetitive.
    • levineg10
    • By levineg10 16th Dec 17, 6:54 PM
    • 17 Posts
    • 7 Thanks
    levineg10
    Just signed up with https://www.outfoxthemarket.co.uk/Home.aspx and I am very impressed.

    First contact through web Cust was really good. They were very helpful, professional and polite. I look forward to going live with them on the 6th January 2018.

    They have no standing charge on either fuel. The membership fee is attached to the electricity. From what I can make out, there is no contractual term meaning you can switch to another provider if you!!!8217;re not happy.

    The feedback on www.trustpilot.com is very good too. This is why I decided to switch to them.
    • footyguy
    • By footyguy 17th Dec 17, 11:23 AM
    • 4,136 Posts
    • 1,672 Thanks
    footyguy
    ...
    The feedback on www.trustpilot.com is very good too. This is why I decided to switch to them.
    Originally posted by levineg10
    Oh dear.

    I thought we had already established on this site that you cannot trust Trustpilot.

    Good luck!
    • Hengus
    • By Hengus 17th Dec 17, 11:44 AM
    • 6,037 Posts
    • 3,716 Thanks
    Hengus
    Oh dear.

    I thought we had already established on this site that you cannot trust Trustpilot.

    Good luck!
    Originally posted by footyguy
    I think that it is pretty easy to spot when reviews are fake or trustworthy - particularly, when there is a common thread between reviews on TP, Facebook, Twitter, this site et al.
    • boliston
    • By boliston 17th Dec 17, 3:40 PM
    • 2,667 Posts
    • 2,218 Thanks
    boliston
    im thinking of going with them - been with scottish power for years but their new deals are all really bad - i think electric is going up from about 12p to about 16p even on their best deal!
    • S0litaire
    • By S0litaire 17th Dec 17, 4:21 PM
    • 3,414 Posts
    • 2,154 Thanks
    S0litaire
    Only down side is they don't accept people with "Pre-paid" meters.

    Which is understandable since the rate being charged could be changing on a month to month basis.

    Just need to switch out my pre-paid meter ASAP
    Laters

    Sol

    "Have you found the secrets of the universe? Asked Zebade "I'm sure I left them here somewhere"
    • boliston
    • By boliston 17th Dec 17, 5:24 PM
    • 2,667 Posts
    • 2,218 Thanks
    boliston
    Only down side is they don't accept people with "Pre-paid" meters.

    Which is understandable since the rate being charged could be changing on a month to month basis.

    Just need to switch out my pre-paid meter ASAP
    Originally posted by S0litaire
    They don't seem to do economy 7 either - I'm not really a great fan of storage heaters and think I would avoid moving anywhere that had them - in an ideal world we would have electric powered central heating and not require gas as well
    • alexto
    • By alexto 2nd Jan 18, 1:41 AM
    • 11 Posts
    • 0 Thanks
    alexto
    Just signed up with them. Email said I should be switched on Jan 22nd. I've been with SSE which got ridiculously expensive at 15.72p+VAT. I'll be a (very) high user starting soon so the closer I get to wholesale prices the better. 9.91p+VAT for high users like me sounds good. Time will tell. T&C's state no fees for leaving early and I'm ok with switching again in a heartbeat if things start going downhill. First:Utility and Bulb were my 2nd and 3rd choices.

    The risk (which I consciously took) is if this company plans to inflate prices, or even slapping a ridiculous bill, blaming the wholesale energy market performance. At the moment my bet was that this will be the first of many companies to pass wholesale prices to end-users for a small fee, which hopefully will drive prices down and foster healthy competition.

    I'd like to help bring that future closer so I'm giving these guys a chance.
    Last edited by alexto; 02-01-2018 at 1:45 AM.
    • boliston
    • By boliston 2nd Jan 18, 11:00 PM
    • 2,667 Posts
    • 2,218 Thanks
    boliston
    less than a week till switch day now (signed up a couple of weeks ago) - they have now sent me a login to view my account online - the web interface looks quite basic but hopefully it will work ok once the account goes live - at the moment i can just see a place to enter my opening electric read, but i'm hoping there will also be somewhere to enter my opening gas read
    • alexrw
    • By alexrw 9th Jul 18, 4:48 PM
    • 6 Posts
    • 0 Thanks
    alexrw
    Just received an email from them saying the price will increase by a whopping 6.5% starting August.

    That's the risk you take ...
    • ValiantSon
    • By ValiantSon 9th Jul 18, 6:34 PM
    • 2,167 Posts
    • 2,041 Thanks
    ValiantSon
    Are you on their variable tariff? If so, then you can switch with no penalty, so not much of a risk, really.
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