Review of Waterpower.ie

FJJD

I’ve seen people mention Waterpower in various other threads, but I’ve never come across anyone who has actually used them. I switched to them a couple of months ago and thought I’d share my experience.

The main “benefit” of Waterpower is that they claim to use variable rates each month, based on the wholesale price of electricity. The “problem” is that there’s no way to verify they’re not just making things up as they go. You also don’t find out what the rate is until after the month has ended.

Here are the rates for the past few months, which aren’t particularly impressive. Their feed-in tariff (FIT) is €0.10, as far as I know.

Monthly Rates:

•June: €0.238

•July: €0.256

•August: €0.244

•September: €0.227

•October: €0.276

•November: €0.301

•December: €0.296

They don’t have an online portal, and bills are sent monthly (often ending up in my spam folder).

There’s no fee for breaking the contract, which is why I decided to try them out. The only real advantage so far is that I can call someone in Cork and immediately speak to a human. I'm currently switching, because I can't see any advantage to staying with them.

Hopefully this might anyone else thinking about them.

oliver29

Waterpower rates for Jan 2025 = 0.334cent

For (future) reference switcher lists the 3 x best values
Bord Gais 24.9174 cent incl. VAT at 9.0%

Electric Ireland 24.3288 cent incl. VAT at 9.0%

Energia 23.6094 cent incl. VAT at 9.0%

These are based on search excluding smart tariffs

I check switcher rates around the time the bill comes through. Not very scientific, just whenever i see the bill in my email. They have mostly been cheaper than the cheapest fixed rate alternative. This is the first time it's worked out that they've been more pricey per unit for 2 months running [compared to Switchers best value at the time].

All the way through covid they were cheaper (often by some margin) than the best available fixed rate at that time.

Wonder if it's been less windy than average for the time of year?

It'll be interesting to see what they're like over the next few bills.

FJJD

Just saw my bill as well and had a small heart attack at 0.334..

_BAA_RAM_EWE

https://www.boards.ie/discussion/comment/123183070#Comment_123183070

ah dude, you should have left with November's bill. I did and that was after 5 bills that were 1/2c higher than competitors.

I signed with flogas at 27c I think it was for 12 months with 220euro cash back.