MoneyPlus Energy Review (Gone bust)

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Last updated: 19th September 2021

As of 9th August 2021, MoneyPlus Energy has gone bust. All existing customers will be moved over to British Gas.

MoneyPlus Energy Review Summary

PROS:

  • Excellent customer service
  • Accepts pre-payment customers
  • Competitive prices

CONS:

  • £50 exit fee per fuel
  • Limited call centre opening hours
  • No app

Who are MoneyPlus Energy?

Manchester-based MoneyPlus Energy are part of the MoneyPlus group of companies that has been trading for over two decades, helping their 40,000 customers with a wide range of services. They started supplying energy to domestic customers in 2017.

Their concept is simple. They buy energy on the wholesale market and sell that energy to their customers at cost price. They make their money by charging a fee which is declared on their customers’ bills for full transparency.

What tariffs do MoneyPlus Energy offer?

MoneyPlus Energy offer just one variable rate tariff. This covers gas and electricity or electricity only and is based on how much MoneyPlus Energy has to pay in the wholesale energy market to buy the gas and electricity that they supply to their customers.

There are no tariffs aimed at electric vehicle owners and no ‘feed-in’ tariffs. There is no fixed rate tariff. There’s just the one tariff. MoneyPlus Energy claims to simplify the cost of energy supply and they succeed in doing that.

How do MoneyPlus Energy compare price?

MoneyPlus Energy’s prices are competitive but might not be competitive for people who don’t use large amounts of energy.

This is because they charge for the energy that they supply at cost but charge a fixed management fee on top of that. Someone who was looking for an energy supplier for a second home, for instance, might not find MoneyPlus Energy quite so competitive.

They also charge a £50 exit fee per fuel which is considerably more than many other energy suppliers charge. It’s also unusual for an energy supplier to charge an exit fee on a variable rate tariff; usually exit fees are only charged on fixed rate tariffs.

What do other MoneyPlus Energy reviews say?

As a relative newcomer to the energy supply market, there are not many online reviews of MoneyPlus Energy. However, they have achieved 4.3 out of 5 stars on Trustpilot from over 40 reviews, with many people praising their customer service.

It’s a similar story on Reviews.io where they score 4.88 out of 5 stars from over 350 reviews due to their customer service exceeding their customers’ expectations.

How green is MoneyPlus Energy’s energy?

MoneyPlus Energy do not disclose their fuel mix on their website. As a relatively new energy supplier, it is not possible to determine how environmentally friendly their energy supply is.

What is MoneyPlus Energy’s customer service like?

There is no data in terms of how quickly MoneyPlus Energy responds to customer enquiries and how many complaints that they receive.

However, the reviewers on TrustPilot and Reviews.io talk about how they are pleased with the customer service that they have received.

MoneyPlus Energy does not have a live chat option on their website so you either need to phone their call centre or email them. At 9am to 5pm on weekdays only, their call centre opening hours are shorter than many of their competitors.

What is MoneyPlus Energy’s website/app like?

The MoneyPlus Energy website looks pleasant but when you look beneath the surface you start to realise that it is poor. As an example, at the time of writing it is advertising a £20 reward scheme that ended five months ago.

There’s also no search option although by the same token there’s very limited information on the MoneyPlus Energy website to search for. They don’t list their fuel mix, for instance.

There is no live chat option and MoneyPlus Energy do not offer an app for their customers to use.

There is, however, an online portal that lets customers manage their account and submit meter readings.

What billing options are available?

MoneyPlus Energy offer a variety of ways to pay.

The main payment method is fixed monthly direct debits. These are 25% higher during the winter months to reflect the fact that their customers will use more energy during the winter.

They also accept pre-payment customers.

Do MoneyPlus Energy offer smart meters?

MoneyPlus Energy do not offer smart meters. Customers who have an existing smart meter can switch but they will lose their smart meter functionality.

Do MoneyPlus Energy offer a recommend a friend referral scheme?

MoneyPlus Energy do not operate a friend referral scheme.

Below are a few quick questions you may need answers to along with our Moneyplus Energy review:

Do they work with pre-payment meters?

MoneyPlus Energy are happy to accept pre-payment customers although they cannot accept pre-payment customers with existing debts on their meter.

Do they accept Economy 7?

MoneyPlus Energy do not offer an Economy 7 tariff.

Are they signed up to the Warm Home Discount?

MoneyPlus Energy do not currently offer the Warm Home Discount.

Are they signed up to the Energy Switch Guarantee?

MoneyPlus Energy are not currently signed up to the Energy Switch Guarantee. As they are a relatively new company there is no information available to give an indication of how long switches take to complete.

Do they mention about the Priority Services Register?

MoneyPlus Energy does mention a Priority Services Register on their website.

Do they offer a ‘Dual Fuel’ discount?

MoneyPlus Energy offers one single variable rate tariff that does not include a ‘Dual Fuel’ discount.

Will they offer to pay a customer’s exit fees when they join them?

MoneyPlus Energy will not pay a customer’s exit fees when they join them. Any fees imposed by a customer’s previous energy supplier will remain the responsibility of the customer.

It is important to note that MoneyPlus Energy charges an exit fee of £50 per fuel if one of their customers decides to switch to another supplier. This is a higher exit fee than most other energy supplier charge.

What happens if you move home whilst with them?

There is no information on the MoneyPlus Energy website explaining what happens if you move home while you are a MoneyPlus Energy customer. However, if you move home before the end of your MoneyPlus Energy contract you will be liable to pay a £50 exit fee per fuel.

Do they offer any incentives for joining? 

MoneyPlus Energy does not offer any specific incentives for switching to them.

How to contact MoneyPlus Energy

You can contact MoneyPlus Energy in a number of ways. Below as part of our MoneyPlus Energy review we’ve detailed all their means of contact:

Customer Email: theteam@moneyplusenergy.com

Telephone: 0161 509 4747

Office Hours: Monday to Friday, 9am to 5pm. Closed on weekends

Office Address: Delphian House, New Bailey St, Salford, Manchester M3 5FS

Website

Facebook

Twitter

How do I switch to MoneyPlus Energy?

The easiest way to switch to MoneyPlus Energy is through a comparison website. This will allow you to check if MoneyPlus Energy is one of the cheapest suppliers for you (tariffs vary based on your area) and will allow you to quickly and easily switch to them.

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Rob

Rob runs Energy-Review.co.uk. The project initially began when he switched energy suppliers for the first time and found there wasn't a website that provided simple, data backed reviews on all the suppliers available. Since then, Rob has spent considerable time looking at all publicly available data about each supplier and writing reviews using this information. Reviews are updated as regularly as possible and any data is backed up by a source where necessary. If you find any issues, please use our contact form to let us know.

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