At Cost Energy

[Big Al]

Saw this piece about a new energy company on the Tonight programme today and thought I'd mention the link here.
Basically it is a millionaire who is setting up an energy supply company [ like BG, EDF, Eon etc] but he plans to charge the consumer the at cost price he pays, I.E. no profit for him.

It is planned for late autum 2010 but you can read all about it at http://www.atcostenergy.com

This is not spam but the less we pay for our energy the more we can spend on heating our homes........

[MKG]

Looks interesting, if unlikely. I wonder exactly how a company which promises to deliver energy at cost can also promise to give 50% of its profits to good causes. However, I'll certainly be watching this one.

Mike

[citizentwiglet]

I've got a drink (or three) in me, so call me stupid; but I've registered for more information. Personally, I think it's nothing more than data-farming - there's nothing in the Ts and Cs to say he won't pass your details on to other companies, just a loose statement about 'privacy' which, in court, is too vague to argue with.
I'm with the MPS and TPS, so I shall await unsolicited calls in earnest. Of course, they won't be unsolicited, because I have 'unwittingly' signed up to selling on my details.

So, I personally think the company is gathering names to sell on to other companies - it's a very common practice. OK, he might be getting power at cost - it IS possible, but the 50% extra he will be donating will be from data-farming, where our details can be sold for up to £1.00 a shot for good information, in the right market. He'll make a shedload of cash from our names.

[citizentwiglet]

Just checked Companies House website - Stockdale Group only incorporated in August last year, no current accounts filed. No SIC code listed. Address is one in Milton Keynes that seemingly houses hundreds of companies....this is one man with a desk in an office in Milton Keynes. Midsummer House - I've been there many times, and it is a haphazard gathering of many very small enterprises, or 'satellite offices' of foreign companies sharing office space. It's chaos.

If you're wondering how I know all this, and why I'm so cynical....well, I bow my head in shame. I used to sell these sorts of records for a living. I sold your names and addresses to all those people who phone you when you're eating / in the shower / putting the kids to bed. I left when I understood the error of my ways; and I'm still scarred by it.

[brett53]

humm - like your honesty

as to this firm ?? -

any thing that seems to be too good too be true - usually IS too good to be true

there IS no such thing as a free lunch - or even a cheap one ;;i

I will come back in 12 months and see if its still even going

call me a cynic if you will - but the big boys will stop this somehow - mark my words - vested interests are powerful forces and EVERY ONE has their price

[paul123456]

Hello there ,

oh yes a millionaire who wants to do good .
A millionaire is someone who has all ready taken millions , so how and why would they now want to do good ?

If people are so stupid or silly to beleive that there are actually people out there who want to help them out ,or , sell them energy at a cost price they need to wake up .

there is no one out there .

Just seen a documentary on Dutch tv about the real reason why UK snacks are so cheap ,
blood sweat and take aways ,

we europeans want to pay next to nothing for food and the poor bastards who produce this pay ,

oh yes , just had a few jars ,

regards

Paul

[citizentwiglet]

Blimey, and I thought I was cynical...........

[Big Al]

Well my posts seem to get people going don't they...

As for " coming out" I was a door step energy salesman for British Gas and Eon but left BG when it was clear you had to lie through your teeth when people asked if BG was the cheapest and as for Eon... i hung my team manager over a third floor balcony so I thought it best to leave before i was sacked,lol.... well he was a bully....

I posted the link purely because it was on the Tonight programme on TV and this was hosted by no other than Martin Lewis of moneysaving expurt dot com. I figured that if he was on the same programme then it was ok.

My inittial concern was that the fuel would be sold "at cost" what was the "cost" bit? Was it the cost of the fuel AND his running costs or just the "cost" of the fuel. Don't forget that the likes of Ebico sell the fuel but they don't have any sales people or even office people as far as I am aware. They use Southern electric to do all their paper work and bills etc so you don't really need as much of a set up as say the big 6 who use a sales force and all the trappings of costs etc.

Still I might be gullable enough to think that this might be a winner some day, after all who does the lottery ???

[citizentwiglet]

This chap was on Radio 4 this afternoon, on You and Yours. Sadly, I missed it as the beastlings chose that moment to start fighting, whinging and generally doing noisy boy-stuff. Did anyone else catch it? I'm just off to see if it's on iPlayer........

[pmilne]

I heard it and recommend listening in iPlayer. He was pretty convincing about the project and fairly well questioned. To answer the original question about 'not-for-profit' and 50% to charity, the 50% applies to other companies in the Stockdale group. He was asked about that on Y&Y and answered quite sensibly.

Could be a scam of course - or someone who's made enough millions to live comfortably ( ) on and actually is concerned about people being ripped off by energy companies.

Watch this space.

Pete

[citizentwiglet]

Yes, I listened to it last night on iPlayer and, yes, I was quite impressed with him. Of course, he could just have salesman's patter down to a fine art; but my better half used to work for (boo hiss) Scottish Power, and he seems to think that what this chap aims to do is certainly feasible.
I'm assuming, however, that in order to provide accurate readings, he will either

1) employ or subcontract loads and loads of meter-readers, or
2) ask you to give your readings via the website on an at least monthly basis, with the occassional spot-checks
3) make subscribers invest in some kind of smart meters that exist in order to provide accurate readings without needing to visit the property, which are expensive and probably fall into his rather vague 'other costs '...

[Big Al]

Yes, I listened to it last night on iPlayer and, yes, I was quite impressed with him. Of course, he could just have salesman's patter down to a fine art; but my better half used to work for (boo hiss) Scottish Power, and he seems to think that what this chap aims to do is certainly feasible.
I'm assuming, however, that in order to provide accurate readings, he will either

1) employ or subcontract loads and loads of meter-readers, or
2) ask you to give your readings via the website on an at least monthly basis, with the occassional spot-checks
3) make subscribers invest in some kind of smart meters that exist in order to provide accurate readings without needing to visit the property, which are expensive and probably fall into his rather vague 'other costs '...

My guess is that it will probably be monthly meter readings via a website. There is one company that does this already but the fall down of this scheme is that you have to pay for what you use. Of Course you need to pay for what you use but it is hard for me to pay £120 a month in the winter and £10 in the summer months for gas where as £37.50 every month is ok. The upshot of this is that a) I would be excluded from this scheme or b) I'd not be able to heat my house sufficiently and thus suffer in the winter months becaused I cannot afford the payments. For infomation at present I can't pay for the £37.50 for example AND save up some spare cash for the winter payments.

Of course there are ways around this if a smart meter is not used such as giving false figures but you will soon get caught out with that one and it would be non existent with a smart meter.

Another worry for me is the " at cost " price. What is the cost price of gas and electric on the worldwide spot market or wholsale market these days ?? Also the "at cost " price might be very expensive if there are added on costs such as salesmen etc. I know as an ex utillity door knocker that if this company employed door knockers then I for one would be jumping at the bit to join espcially if it is as portrayed going to be the cheapest in the land, lol.

[Green Aura]

I signed up for it pretty much straight away. It looks to be on the level. Even if nothing comes of it directly, if enough people sign up surely the bigger suppliers will have to do something. Ever the optimist, eh?

[SaveSomeGreen]

I just heard that piece about at cost on the you and yours podcast, I would have to agree that a millionaire being altruistic does seem unlikely. At cost is clearly a statement that is open to a fair bit of clarifiation, net or gross cost really?? at cost of the product as they buy it or after all expenses have been added.

I reckon the best bet is to reduce your energy as much as possible first then wait for 6 months after at cost has been running and then watch the media tell all the happy/horror stories all about it.

Big Al and I share a little common ground in our door knocking experience. I found that there was never a moment of altruisn from the companies ever.. just sell sell sell which is fair enough but a lot of time and energy goes into making the offer to good to be true, which it invariably is.

anyway, that was cool... post number 2.. starting to like this!! :)

[Big Al]

Big Al and I share a little common ground in our door knocking experience. I found that there was never a moment of altruisn from the companies ever.. just sell sell sell which is fair enough but a lot of time and energy goes into making the offer to good to be true, which it invariably is.

anyway, that was cool... post number 2.. starting to like this!! :)

Thats why I left the first company after 10 weeks when I realised that I'd been "trained" properly and it went against my grain to use tactics that I would not like used on me. I left the second company after I held my bullying team leader over a third floor balcony !!