We’ve announced a change to our Members’ rate - that’s the per kWh unit rate you pay for your energy — and I wanted to give you more information here in the Community.
From today we’re lowering our tariff by an average of 2.4% for typical, dual fuel medium users by dropping our gas rate by an average of 6%.
Electricity rates remain unchanged.
All our dual fuel Members will get an email over the next day to explain your new rates. If you’re electricity-only, you’re not affected and so you won’t get an email.
When do the new gas rates take effect?
The change is effective from 8 May for all existing Members. New Members joining us from today — 8 May 2019 — will be quoted and join at the new rates.
What are the new rates?
Pure Planet prices 8 May 2019.PNG/a>
Why is Pure Planet lowering gas rates but not electricity rates?
Wholesale gas prices have been falling throughout the first quarter of 2019, partly due to a reduction in demand from warmer weather. Although gas and electricity wholesale prices are partially linked, higher policy costs mean the overall electricity price has remained fairly steady. So, we’re lowering our gas rate.
Check out this Q&A with Pure Planet co-founder Chris Alliott on how we buy your energy.
Will Direct Debit payments change?
For now we’re not changing DD payments as a result of this rate change. We regularly review our Members’ payments and we’ll get in touch if we need to adjust your payments to keep you on track.
With the new tariff how does Pure Planet compare to other suppliers?
All of the Big 6 energy suppliers all increased their standard variable tariffs after the price cap was reset earlier this year.
Today’s announcement means the average dual fuel household on supply with Pure Planet now pays £962 a year — a £292 saving on the Ofgem price cap and the Big 6 standard variable tariffs.
Why do different regions of the UK have different rates?
The difference in the cost across each geographical region is down to the cost of transporting gas and electricity to your home.
The costs are determined and applied by your Distribution Network Operator (DNO) and we pass these on at cost.
We don’t make money on the transport costs of getting energy to your home.
With the new rate do I need to send new meter readings straight away?
No. If you can’t give us a meter reading today don’t worry. We’ll use estimated readings calculated at the lower gas rate. Your next statement will show different days calculated at different rates.
Will prices go up or down again in the future?
Our tariff is variable, which means our prices can go down as well as up. If prices go down we’ll pass them on to Members immediately. Having a variable tariff means that all our Members are on a fair, competitive rate — based on wholesale prices.
How does the Pure Planet tariff work?
We have one tariff for all our Members, so you’re always on our best rate.
Our Members’ rate is the per kilowatt (kWh) unit rate. It’s a pass through rate, based on wholesale costs —you don’t pay more than we pay for the energy you use.There’s zero markup.
Our Membership fee is the standing charge. It’s the daily rate calculated and collected in 12 equal monthly installments each year. It covers: Your meter maintenance, our people costs, operating and systems costs, our low profit margin and VAT.
Our Membership fee is £8 a month per fuel.
For dual fuel Members we have a dual fuel discount worth £30 a year.
Where do I find my tariff information?
In your Pure Planet app, go to Balance & Payments and scroll to the bottom to see your tariff.
Check out the latest Pure Planet blog post on wholesale energy prices.
That’s it for now. Any questions? Let’s talk about them below.
08-05-19, 07:57MarcMembers’ rate announcement - Pure Planet lowers its tariff with a 6% cut in gas price
08-05-19, 08:58Strutt G
That's Brilliant Marc and PP
08-05-19, 09:19David j
Great news Marc, Nataly & the Pure Planet team - implementing PP objectives as promised.
P.S. Just noticed the time of Marc’s post - 6.57am. Early bird who couldn’t wait to pass on the good news. 😜
Fab News 👍👍👍 We all love a price reduction 💰💰💰💰💷💷💷💲💲💲
Always happy to see reductions in what we have to pay 👍😎😀📣✔️
Putting this into my spreadsheet this afternoon........Yes I'm a glutton for punishment !!!
You were right Marc, that is exciting and excellent news - well done PP :)
I’m leccy only but my parents are dual fuel and I manage their account, so big 👍👍👍, thank you PP 👏👏👏
I've just received the e-mail too - the commuciation and the content/layout of the e-mal is brilliant too. Well done all!
Me happy, too! Just sent in (optional) meter readings and updated my spreadsheets :D
This is great news, thanks.
And so exciting for all those with spreadsheets!! Hope you have told them exactly what time the change happened...
Sorry, couldn't resist
Great news, but...
This was inevitable, because although I wouldn’t expect PP to be at the top of the comparison tables it was slipping down, and not just against providers who I suspect are unsustainable. I’m grateful for the reduction but disappointed that electricity prices couldn’t have been reduced slightly.
Also @Marc I noticed you cropped off the bottom of the price chart. I know why, but it would be better if the chart had an embedded date on it as the previous ones did ( notwithstanding that the membership fee was wrong on some of previous charts but that could be missed off)
If you wanted a reason as to why it should be possible to submit gas readings alone (suggested a while ago) this is as good as any.
I LOVE that my rate has gone down. Got stopped by a rival company today before I knew that PP put their prices down. Even before the reduction PP was quids cheaper. #winningatutilities#
Not sure why it was obvious Woz. Plenty of companies haven’t reduced but gone the opposite way. It’s refreshing to see price cuts when they are available (and sustainable)
Hi Marc, Thank you and the team for the update on the new rate. Great News 😎😎
Woohoo good news indeed. All i need now is gas instead of oil,
Im well thanks, i would get solar panels but the bosses wife thinks they look ugly so not allowed to have them.
i was cynical re recent increases, so well done with the reduction.