Powershop versus other Electricity companies

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hairy1

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#71016 3-Nov-2010 16:09

Hi All,

We have just switched from Mercury to powershop.co.nz. It has been an interesting exercise. Powershop told us we could save money so I decided to do some investigation. powerswitch.org.nz said we would save around $200 per year using the default powershop settings (auto top up) so I decided to make the switch.

Last night Mercury rang us and told us we qualified for a $150 rebate if we stayed with them. The lady from Mercury was pretty pushy and told us Mercury would be cheaper in the winter. She wouldn't tell me they would cheaper over a 12 month period but I almost ended up having a full blown argument with her about our electricity.

For existing powershop.co.nz customers how have you found them? Have you found them cheaper? Obviously everyone is going to be different. I do like the prepaid thing and the ability to see how much power we have purchased in advance etc. Do the unit prices go up a lot during winter?

Cheers, Matt.

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#399703 3-Nov-2010 16:15

Your usage will determine if they are cheaper. We use a lot of power at home (old house) and get a cheaper deal with Nova (and we have gas).

We also have a rental apartment with PowerShop. In July we were paying 25.2c per unit, now it's 21.86c for the same pack (a $149.95 value pack).

So the winter price doesn't seem a huge amount more than summer. The cheapest deal I'm being offered for Summer now is 20.93c a unit if I buy ahead.

I think the best strategy is to buy ahead for winter but let it go into arrears for summer as every month the power seems to be getting cheaper.

langi27

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#399706 3-Nov-2010 16:18

I think here in christchurch the difference is about 4cents per kw/h. 23cetns in winter verses 19cents in summer (approx 20%).

Being a geek I enjoy monitoring my usage an planning ahead with power purchases, and there are winter special you can also get I think 1 week you could get winter power for about 21 cents, so not a big difference really. The 1 thing I really like about powershop is that you don't pay a daily charge and if you travel or are away alot your usgae is near zero.

I also like being able to update my meter reading to give an accurate usage stats and project monthly usage. I think on average I've saved about 20-30%.

I think powershop was designed by geeks for geeks, most non techie people struggle to understand the concept.

manta

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#399778 3-Nov-2010 19:01

With our usage (and Contact's $200 bribe to stay with them) I find it cheaper to remain with Contact. I have yet to find better pricing on powershop overall.

SCM

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#399839 3-Nov-2010 21:09

I love PowerShop, while im no longer with them due to now boarding with friends, when I was with PowerShop I found I saved almost 50% on my electricty bills. Mostly the savings were due to being able to enter my meter readings on a daily basis and see almost to the hour how much electricty im using, this sure incouraged me to turn appliances/heaters/lights/ect off when not in use.
Yes the price does increase in the winter but in the summer its alot cheaper. Winter just gone I was paying 21.05 cents a unit while last summer with specials I was paying only 9.5 cents per unit (something you will NEVER see from any other power co)
Something to note however is your location, down here in Dunedin we pay almost 10c less than those in the North Island.
At the end of the day though, Its really a personal choice as weather you do save electricty or not. Want to save power? turn off that monitor when you are not at the PC, turn off the light if ya not in the room. Its possable to save power whatever power co you are with.

xpd

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#399850 3-Nov-2010 21:36

Were with Powershop and have been for quite sometime. Most of the time we're saving quite a bit, the other times its the same as what it would have been on any other provider.

Mercury are a pain in the butt when they find out youre leaving them for another provider, offer all these goodies...... why cant they offer them in the first place ? ;)

Gavin / xpd / FastRaccoon / Geek of Coastguard New Zealand

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SCM

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#399859 3-Nov-2010 22:01

xpd: Mercury are a pain in the butt when they find out youre leaving them for another provider, offer all these goodies...... why cant they offer them in the first place ? ;)

I couldent agree more, it was the same with Contact when I left them to join PowerShop, if they can offer deals when you tell them you are leaving, whats stopping them from doing the same for their loyal customers.

pinkydot

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#399925 4-Nov-2010 00:15

Doesnt Mercury give out dividend from the AECT? Every year give out $320. That could be a big save for 2 - 3 months bill for us.

Do Powershop give out dividend too?

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knoydart

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#399935 4-Nov-2010 00:40

pinkydot: Do Powershop give out dividend too?

They are owned by Meridian so it goes back to the government directly :o)

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#399939 4-Nov-2010 01:20

pinkydot: Doesnt Mercury give out dividend from the AECT? Every year give out $320. That could be a big save for 2 - 3 months bill for us.

Do Powershop give out dividend too?

AECT gives out the dividend.... not the retailer. I'm with powershop and i still got AECT payout. The dividend comes from the AECT ownership of the lines company - vector. Regardless of your power retailer, they all have to use vector for the lines company if you are in the vector lines areas.

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xpd

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#399979 4-Nov-2010 08:50

Weve never had AECT payouts because we're not considered part of Auckland or some rubbish....... yet I pay Auckland rates, go figure.

Gavin / xpd / FastRaccoon / Geek of Coastguard New Zealand

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bazzer

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#399999 4-Nov-2010 09:26

You're part of Auckland, you're just not part of the Trust, so why would you get dividends from it? You're on the Shore, right? I'd like the $320, but not enough to move from the Bays ;)

jonb

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#400019 4-Nov-2010 10:01

I was really interested in the powershop concept when they first started, the idea of residential users paying for electricity more like wholesale users - when the resevoirs are full the rate goes down (i.e. the winter when you use more) and when the resevoirs are low the price goes up (in the summer when you use less). That's how I gather the wholesale market works, where heavy industry source their electricity from.
Sadly it hasn't panned out like that - the rate powershop charge seems totally 'demand' driven - more demand in the winter so the unit price is higher. So I might save a hundred dollars here and there but it's not the game changer is should have been. Probably due to their close relationship with Meridian who don't wan't their business model ruined so limit any savings powershop customers can make.

That's just my impression..

xpd

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#400121 4-Nov-2010 12:19

bazzer: You're part of Auckland, you're just not part of the Trust, so why would you get dividends from it? You're on the Shore, right? I'd like the $320, but not enough to move from the Bays ;)

Even when we were with a supplier who is part of the trust we never got anything.

Gavin / xpd / FastRaccoon / Geek of Coastguard New Zealand

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bazzer

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#400123 4-Nov-2010 12:24

xpd:
bazzer: You're part of Auckland, you're just not part of the Trust, so why would you get dividends from it? You're on the Shore, right? I'd like the $320, but not enough to move from the Bays ;)

Even when we were with a supplier who is part of the trust we never got anything.

Then you were robbed. If you were still on the Shore, then you are mistaken, you were never part of the Trust.

muppet

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#400125 4-Nov-2010 12:26

I have no clue if we're saving lots or not, I doubt it. Power's power and no one's going to be mega cheap. Powershop if you log in often sometimes have a little $10 special and things like that.

That said, I'd probably use powershop even if they were a bit more expensive because they're just SO easy to deal with. They respond quickly on Twitter, the web interface is *designed* with a user in mind, not tacked on in some hidious afterthough (a-la TelstraClear)

The prepay, the ability to see what changes in your usage really mean in fairy real time is great. No paper in the mail etc etc.

I wish my health insurance, TelstraClear account, rates etc were all this well done. Other companies should be looking to Powershop as a great example of Online Accounts done right.

Audiophiles are such twits! They buy such pointless stuff: Gold plated cables, $2000 power cords. Idiots.

OOOHHHH HYPERFIBRE!

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