MoneyPlus Energy: 2021’s Prices, Plans & Reviews

papernest disclaims that they are in partnership with MoneyPlus Energy

papernest disclaims that they are in partnership with MoneyPlus Energy

MoneyPlus Energy is a new and small energy company that aims to offer a smart and simple way of buying energy. Part of the MoneyPlus group, which supports more than 40,000 customers every month to save money on their credit cards, bills, loans, they have now branched out to also be an energy supplier.
Last update: February 2021

They aim to treat all their customers fairly and with respect, as they know their customers are the most important part of what they do. That’s why they don’t offer a range of confusing tariffs, just one simple transparent monthly fee.

MoneyPlus Energy MoneyPlus logo
Founded 2017
Phone number 0161 5094747
Email theteam@moneyplusenergy.com
Login https://portal.moneyplus.com/login/
Address Delphian House, New Bailey St, Salford, Manchester M3 5FS, United Kingdom
Number of customers Not known

 

Is MoneyPlus Energy any good?

Having a background in the financial sector has helped MoneyPlus Energy to establish itself as a trusted energy supplier. But how effective have they been entering the marketplace and what do their customers think?

They currently have a rating of 4.6 on Trustpilot. However, as a very new player in the energy sector, this is only from around 30 reviews. An impressive 84% of the reviews rate them as excellent, with a further 13% giving them a score of good. Just 3% of the reviews are negative.

It will be interesting to see as they grow if they can maintain this high level of customer feedback.

Who is MoneyPlus Energy?

As part of the MoneyPlus Group, MoneyPlus Energy has recently entered the energy market. The group has been offering financial support to its customers for over 20 years, helping them to get the best possible deals on loans, credit cards and other financial deals. Moving into the energy sector, their aim is to work in a clear and simple way to save people money.

At a time when wholesale energy prices are going down, it seems strange that providers are putting their prices up. MoneyPlus Energy thinks they can do things differently, offering honest and open energy supply that is transparent. That way you can know exactly where your money is going each month.

They think that energy does not have to be complicated, which is why their energy bill comes in two parts. One is the direct costs of the energy which they pass on to you. The other is a flat monthly management fee of £9.95 per fuel, per month.

MoneyPlus distributing power

Who owns MoneyPlus Energy

MoneyPlus Energy is owned by the MoneyPlus Group, one of the UK’s largest and most trusted debt solution companies. They believe in going out of their way to help people resolve debt issues, and are founding members of DEMSA. They offer a range of financial services to improve consumer situations including debt management plans and IVAs. They also offer legal services and have acquired various other smaller debt solution companies over the years.

Their move into energy has been brought about by a desire to offer simpler and more honest energy supply to a range of clients.

MoneyPlus Energy tariffs

MoneyPlus only offers one simple and clear tariff, called Everyone Welcome. They offer a choice of either electricity or dual fuel supplies (there is no gas only option) with direct costs coming from the wholesale price straight to the consumer. These wholesale costs will vary according to the market value.

MoneyPlus Group then charges a flat monthly management fee of £9.95 per fuel, so a dual fuel contract will cost you £19.90. Contracts are fixed for 12 months and there is a cancellation fee of £50 for electricity only and £100 for dual fuel.

Average bill values vary according to the cost of energy in the different parts of the country.

Moneyplus Energy fuel mix

There is currently no information about the MoneyPlus fuel mix in the UK.

COVID-19

More than ever, our team of experts remain on deck to help you make savings on your energy. We understand how deeply the lives of many are affected by these trying times and we want to support you the best we can. More on your energy supply during COVID-19 in our article.

MoneyPlus Energy services

MoneyPlus Energy aims to keep things very simple. That’s why they don’t offer any specific tariffs, just wholesale energy prices with a fixed monthly management fee. MoneyPlus Energy doesn’t provide any more specific services than that.

However, their parent company, MoneyPlus Group, offers a range of financial and debt solutions that may be of some interest to customers. These include:

  1. Financial advice you can trust
  2. SIM only phone deals
  3. Debt solutions

Is MoneyPlus Energy cheap?

MoneyPlus Energy aims to be a cheap provider, passing on wholesale costs and low standing charges to the customer. They set up the energy arm of their group because they saw wholesale prices go down while average energy bills across the UK went up. They thought this was unfair and aimed to set up an energy company that worked in a very different way.

As such, the rates you pay for electricity are lower than normal, but do depend on which part of the country you live. On top of this, you pay MoneyPlus Energy a flat monthly fee of just £9.95 per fuel.

The direct costs charged by MoneyPlus include:

  1. Wholesale costs: which is the price they have to pay to buy the energy from the provider on the wholesale market plus some additional costs all energy suppliers incur
  2. Distribution and transmission costs: the costs that are incurred to keep the energy moving around the country, including daily charges and costs per unit of energy used
  3. Metering costs: meters are owned by independent companies who charge a monthly fee for use. There are also maintenance costs to consider
  4. Tax and environmental levies: Suppliers have to pay levies on all the energy they provide to support environmental commitments

As a customer, what this means for you is that if the wholesale costs go down, then you benefit as they pass these savings on to you. If the costs go up, then so does your bill. But your fixed rate always remains the same. However, MoneyPlus Energy says they work hard to always get the best deals in energy, even in the winter months when prices can go up.

MoneyPlus Energy customer reviews

As a new company, there are not too many reviews for MoneyPlus Energy but the few that there are online are generally positive. They currently have a rating of 4.6 on Trustpilot from around 30 reviews. 84% of the reviews rate them as excellent, with a further 13% giving them a score of good. Just 3% of the reviews are negative, rating them as poor.

On reviews.co.uk, MoneyPlus energy has a rating of 4.86 from around 230 reviews. The positive feedback tends to be around the good customer service and open and honest pricing.

How many customers do Moneyplus Energy have?

There is currently no information about the number of customers using MoneyPlus Energy. This may be because they are a new energy company. However, customer feedback is positive and highlights the fact they are actively seeking new customers to join their new way of providing energy.

Does MoneyPlus Energy have smart meters?

They do not provide any smart meter service but you can use their supply if you have a smart meter. However, some of the older first generation of smart meters may lose some of their functionality if you switch to MoneyPlus Energy. Newer smart meters should be fine.

If you do have an older smart meter, it may not display all the information that it used to, and you are required to give manual meter readings. Information about how to read your meter can be found on the MoneyPlus energy site.

MoneyPlus power grid

What is MoneyPlus group?

MoneyPlus Group is one of the UK’s largest and most trusted debt solution companies. They believe in going out of their way to help customers tackle debt, and are founding members of DEMSA. They have recently branched out into other services, offering legal advice and since 2017, energy supply to homes across Britain.

How to contact MoneyPlus Energy

You can get in touch with MoneyPlus Energy in the following ways:

Online https://moneyplusenergy.com/contact-us
Email theteam@moneyplusenergy.com
Phone 0161 509 4747

The customer service phone line is open Monday to Friday, 9am to 5pm.

Call us to switch your energy supplier for free!

0330 054 0017

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Written by william

Updated on 24 Feb, 2021