How much energy have you got left? How much does your energy cost a day? Have you ever thought about these questions? If we compare energy to petrol or diesel we don’t have the same knowledge or understanding about what is in our tank. I know pretty much when I will need to top the diesel up in my car. When I was working I knew that £50 would last me a week, it was enough to get me to work and back and then some more. As I filled up the tank I knew just how much I needed to put in and I could see what I was using. We have that handy little gauge in our cars telling us just when we are running low and then the light to remind us we need to fill up. It makes budgeting easy, the process is transparent.
ScottishPower have taken this well trusted method and created a new product where you can buy energy in much the same way. You don’t need to trek off to a petrol station but the principles are the same. Using an app current ScottishPower customers can purchase days worth of energy. You can buy single days or bundles of days up to and including 180 days. The PowerUp package has no hidden fees or standard charges. Instead it is giving power back to consumers who will be able to track their usage easier and control their energy from their smart phones. It is using modern technology to give power to the people. There are also savings to be had by using PowerUp because the average cost will be under £70 a month which is an average saving of between £300 and £400 a year.
Neil Clitheroe, Global Retail Director said: “As well as being competitively priced, PowerUp is designed to make energy bills simpler. We also want to give our customers greater personalised information on the energy they use, which we hope will encourage greater energy efficiency. As it stands just now, people seem more conscious of the way they use petrol in their fuel tank than they are with energy used at home. PowerUp is designed to make it easier to see the link between energy usage and the costs, and we hope it will help customers to make their days of energy last longer.
The PowerUp approach is great for consumers as it makes the business of buying energy easier, it is removing jargon and it follows the recommendations from Competition and Markets Authority that energy companies need to do more for customers who never switch. This process is sure to be a win for current consumers. Of course it will be available to new customers too.
The key aspects of this new product is that it is easier for consumers to monitor and plan their use of energy which has to be a good thing! How often do you check your tariffs and would this new product appeal to you?