NEWS (16/10/2018): Usio Energy has ceased trading
Usio has become the latest small supplier to bite the dust as of 16th of October 2018. Ofgem, the industry regulator, has said that Usio's customers would not see an interruption to their electricity and gas supplies.
USIO Energy was a newcomer to UK energy market who aimed to be the first Energy company in the UK to comply with new directives before smart meters become mandatory in 2020. They were hoping to install smart meters as standard and use 100% green energy.
An energy company with a difference
USIO Energy aims to disrupt the UK energy market through its unique expertise in data science and machine learning by tapping into new smart meter technology to save customers money on their gas and electricity bills. Their business model is based on a model used by Easyjet’s energy company Easy Energy which operates in Holland. They are hoping to have 4% of the market share by 2020.
The company founder, Vincent Tuk, looked at the average profile of energy users in the UK and concluded that the average user felt anxious, felt ripped off, lied to and confused. Usio wanted to address this situation and create a company with low prices and individualised service to its customers.
To reduce prices they have made standard load profiles, where customers are charged based on an assumption of how much they use, a thing of the past. Energy companies are usually forced to buy energy based on these standard profiles.
However, with their unique use of smart meters and backing from a large strategic trading house they have managed to break free of this mould, instead buying energy in 30 minute intervals in order to provide “energy that meets your needs.” In order to keep customers happy they have call centres with no automated responses - you will always get a response from a real life human.
To find out more about Usio’s new concept for a utility company check out this video of USIO’s founder Vincent Tuk talking at the Ecosummit in 2017 in Berlin.
Customers generally give very positive reviews of Usio-energy.
On Trustpilot, it currently has 26, of which 72% rated the company excellent.
Each of the problems mentioned by customers, such as problems using the app and getting in touch with the company, have been personally responded to by the company. One customer service assistant, Paul, was also mentioned in almost every positive review. Customers are almost all completely satisfied with the service they have received on the telephone and felt that the service was personalised. They were particularly relieved that there were no automated menu systems and could directly access a person on the end of the phone really quickly.
They were also listed as one of the top five cheapest providers by Which? in late 2017 despite the website not currently having a review page featuring the company. This bodes well for the future and only time will tell if they manage to maintain their good customer service while they grow. At least for the moment, not only are Usio competitive on price but also provide personalized and friendly service.
Prices & Tariffs
USIO Energy have many different unique fixed and variable tariffs to cater to a broad customer base.
As an added bonus, they also have electric car tariffs and green tariffs for customers who want to benefit from times when there is more renewable energy available. They claim that their prices and tariffs are ultra transparent with no hidden profit margins.
The variety of tariffs on their website can be overwhelming but we have narrowed them down into categories to make them easier to understand.
The main categories of tariff are:
Home after 7 TariffsDesigned for customers that use most of their energy in the evenings, with cheaper energy bought for them at these times. Obviously there will be days when customers spend more time at home or even times away on holiday but this would still be a suitable tariff where the bulk of their energy usage happens in the evening. This is where the smart meters really come into their own.
Smart Green TariffsThese are competitively priced tariffs suited for the type of customers that uses energy at all times of day and night.
The Green Lite TariffsThe Green Lite tariffs are basic tariffs for customers who don't have a smart meter at all.
Usio's most interesting tariffs are the "home after 7" tariffs as these are the tariffs where USIO's technology comes into it's own. The tariffs are fairly unique and tailor your energy bills to the actual times when you use more energy. We think that more information would be necessary
To get a current personalised quote to see if you could save by switching compare online.
Below you can see the tariff label information (TLI) for USIO Energy's Green Smart Standard Variable Tariff:
Last Updated: April 2018
If you'd rather manage your energy online Usio Energy has an Online portal where you can login and manage your account. Customers can also easily find information on how to reset their password if they have forgotten it by clicking on the links available of the login page.
Usio Energy also has an app which makes managing your energy and seeing your usage in real time easy and convenient.
Once you are logged into your account, either using the app or on their online portal, you will be able to do the following:
- Track your usage
- See past usage details
- Submit meter readings
- Check your balance
- Organise a direct debit
Smart meters are very useful for customers who want to be better informed about how much energy they are using in their homes or for people who want to save money on their elecricity or gas bills.
After smart meters are fitting in your home you will be able to see how much energy you use on a digital screen. There are two kinds of smart meters: SMET1 and SMET2. SMET stands for smart metering technical specification. It is generally thought that SMET2 meters, which are the newest generation of smart meters are the best type as they mean that your smart meter can easily be switched between different companies if you change suppliers. However, most suppliers at the moment are waiting to install this newer generation of meters
Usio Energy install SMET2 smart meters as standard for people who switch to their service. While in most companies Smart meters are optional, in the case of Usio Energy for some tariffs, such as their "Home After 7 Tariff" the meters are essential for Usio Energy to measure how and when you are using electricity.The installation process is quick and simple and an engineer will come to your home to switch the meters. Usio Energy install the smart meters for free.
It's also important to know that Usio Energy currently can't take on any customers who are on prepayment meters. So customers who only have access to prepayment, and who can't upgrade won't be able to switch to Usio Energy.
USIO energy prides itself on being an environmentally friendly company.
It uses 100% renewable energy from certified sources so you know that you are helping the planet while you save money.
Renewable energy certificates mean that you know the energy you are paying for comes from 100% certified sources which gives consumers peace of mind. Although the company doesn't publish the exact sources of their renewable energy, or a fuel mix breakdown, renewable energy comapnies generally use a mix of tidal power, wind turbines and hydro electric amongst others.
Usio Energy can be contacted by phone, email, post or on their social media sites. If you'd like to contact USIO North Energy for general enquiries, complaints or regarding one of their tariffs or offers, you can phone them using the free phone number provided below.
If you are thinking about switching to Usio, in order to get a real comparison of how much you could save, give us a call or compare online. To get a better idea about what they have to offer you, you can visit USIO Energy’s website to browse the range of tariffs that they currently have available.
Please check with your provider if you don't know how much a call will cost.
0203 879 4281
*Monday to Friday: 9am-5pm