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[NSW/Qld/SA/Vic] amaysim Energy Plans Released - High Solar Feed-in @ 17c

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[NSW/Qld/SA/Vic] amaysim Energy Plans Released - High Solar Feed-in @ 17c
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Ldrewbytes on 17/10/2017 - 21:59 amaysim.com.au (712 clicks)
Last edited 18/10/2017 - 15:16 by 1 other user

Amaysim have just released electricity and gas plans and offer a whopping 17c solar feed in tariff.

They're offering up to 40% pay-on-time discounts off usage and daily supply charge (most places only give the discount on usage).

Their charge per kWh hour is high @ 43.67c and daily feed in is relatively high @ 161.7c. However with 28% pay-on-time discount (with solar, 40% no solar) that makes it 31.44c per kWh and 116.42c supply.

I have solar and averaged over a yearly period I export 12.68 kWh per day and use 16.85 kWh per day.

In a spreadsheet I have calculated that with my current supplier (Simply Energy, 30.22c kWh and 6.5c feed-in and 15% pay on time) it costs me $448.99 per 90 days, and with Amaysim it would cost me $387.60.

So Amaysim plans would likely be of benefit to users with solar due to the high feed-in tariff and generous pay on time discounts.

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  • jv on 17/10/2017 - 22:00
    +4

    Amaysim have just released electricity and gas plans

    Do they have Prepaid ?

    • drewbytes on 17/10/2017 - 22:09

      You can pay your entire bill monthly, or pay $50 per month and pay the balance quarterly.

      • jv on 17/10/2017 - 22:12
        +11

        Thanks.

        Will they be throttling the current for heavy users?

        • malouphix on 17/10/2017 - 23:01
          +1

          Only those over 110KGs and only black currants.

    • [Deactivated] on 18/10/2017 - 00:30
      +5

      Welcome back JV.

  • [Deactivated] on 17/10/2017 - 22:01
    +3

    Do they have a free trial?

  • Punkboy on 17/10/2017 - 22:02
    +4

    Is there a Groupon for this deal yet?

  • nightelves on 17/10/2017 - 22:02

    That's still high compare to Pacific Hydro.

    • drewbytes on 17/10/2017 - 22:11

      I was going to put their figures in my spreadsheet to compare, but they're Vic and SA only. Amsysim are NSW, Vic, Qld and SA.

      • drewbytes on 17/10/2017 - 22:18
        +1

        I punched them in anyway to compare and their figures are good. 90 days came out at $338.76, versus $387.60 for Amaysim. Pity they're not in NSW.

        • nightelves on 17/10/2017 - 22:39

          Their rates are apparently locked in for the next two years

  • kipps on 17/10/2017 - 22:13

    Only 14c in Qld for feed in.

    • jv on 17/10/2017 - 22:19
      +2

      but you have more sun there… so it doesn't really make as much difference.

      • 51ngh on 17/10/2017 - 22:39
        +7

        You should be incharge of the Federal Climate Change policy.
        Can probably do much better than current ones

      • lovepub on 17/10/2017 - 22:46
        +2

        Legit comment….Who negged you??

        • Steptoe on 17/10/2017 - 23:28
          +3

          Joh

      • Wystri Warrick on 18/10/2017 - 12:52
        +2

        Good to see you back jv, I was getting worried about you, I was just about to pm you if you where OK.
        Anyways glad your back :)

  • machej on 17/10/2017 - 22:22
    +3

    Globird also have a high FIT that doesn't look as expensive as this.

    The best link for every ozbargainer should be http://energymadeeasy.gov.au/ or switchon.vic.gov.au (Victoria)

    From there you can haggle and get a better deal.

    • Splurge on 17/10/2017 - 22:28

      Would also recommend https://wattever.com.au as an impartial plan comparison site.

      • [Deactivated] on 18/10/2017 - 08:06

        interesting. fairly simple. But they don't say who they are, but they do continually say they're impartial

        In the Vic,m the switchon website is better as you can upload your usage data from your smart meter to give an accurare picture of usage.

    • drewbytes on 17/10/2017 - 22:30

      It's really hard to compare unless you calculate your usage exactly using the base rate per kWh, solar feed in, supply charge and pay on time discount - and you need to know your average usage and solar export. Until I did my spreadsheet I sort of had an idea, but now I know exactly. Incidentally I've been looking at Powershop the last couple of days and they worked out about $22/quarter cheaper than Amaysim for me.

      • machej on 17/10/2017 - 22:32
        +2

        Some distributors such as United Energy will allow you to export out a CSV which you simply upload to the comparison site and it shoots out the exact savings for each plan.

        • [Deactivated] on 18/10/2017 - 08:07

          yeah I believe all distributors in Vic allow you to export your smart meter data (as they should). It makes comparing on SwitchOn accurate.

  • drazenm on 17/10/2017 - 22:37

    Can anyone recommend a good website to compare energy prices, to find the best deal if you pay on time your electricity bill?

    Thank you :)

  • great-price on 17/10/2017 - 22:39
    +1

    For the non solar feed in plans, the rates look to be exactly the same as click energy. I wonder if they are reselling for Click?

    • machej on 17/10/2017 - 22:42
      +1

      Given they bought Click Energy it's probably the same, just rebranded to lure more mobile customers over.

      • great-price on 17/10/2017 - 22:53
        +1

        That makes sense. Wasn't aware they bought Click. Alinta works out cheaper for me (Essential Energy distribution area in NSW).

        • drewbytes on 18/10/2017 - 06:17

          Interesting. Alinta works out $65 quarter more expensive for me and I'm in Essential area too.

        • great-price on 18/10/2017 - 09:47

          My hot water is off peak (controlled load 1). Perhaps that is the reason for the difference? The Alinta plan I was using to compare was the Fair Deal 23 (23% off usage). Based on my last quarterly bill the Amaysim rates would cost me $602 while the Alinta rates would cost me $566. I'm currently with Red energy, as they are not putting their rates up until December for existing customers. I will switch to Alinta soon.

        • atlinus on 18/10/2017 - 10:53

          @e_wolfe:

          Alinta charge higher per kwh but giving 30% discount thru one big switch offfering

          Compare it to agl which has lower per kwh but discount is less, you'll get $50 for joining.

        • great-price on 19/10/2017 - 01:06

          @atlinus:
          30% off Alinta is even better. Thanks for the info. Definitely signing up with them. AGL would cost me $84 more per quarter, so even with $50 for joining I would be $34 worse off in the first quarter with AGL.

  • downtime on 17/10/2017 - 22:50
    +1

    "Discount is off usage and supply charges, after concessions and solar export applied. Discount applied to next bill."

    That makes the effective solar FIT to be 12.24c when you compare with a plan that applies discounts first before paying FIT. Their Ausgrid any-time-tariff is something like 32% more than AGL's.

    • grips on 18/10/2017 - 00:47

      That is the deal-breaker for me, so you are punished (more or less) if you are a pensioner with concessions.
      58c for old solar is quite good, but I would still be charged the full amounts for usage and daily because I export more than I import and am constantly in credit (What will they do with credits?).
      Edit: I have calculated the yearly cost for 3500 KwH (without solar) and it is worse than many others (Alinta, Origin, Dodo etc.)

    • Thrifty McGifty on 18/10/2017 - 09:53

      (I don't know what the concessions would be, so I assume I'm not eligible and will ignore that part.)

      I didn't understand how it was different, so I made an example to explain it to myself. You're right, the effective FIT is 12.75%.

      If they apply the discount after the solar export is applied (how they do it):
      e.g. You use 100kWh, which means you use $42 worth of power. (100kWh x 42 cents)
      You sell them 50kWh of power, which means they pay you $8.50 (50kWh x 17 cents).
      So your net is $33.5, then they apply the discount, meaning you owe them $25.12. ($33.50 -25%).

      If they applied the discount first:
      You use 100kWh, which means you use $42 worth of power. (100kWh x 42 cents)
      They apply the discount now, meaning that $42 becomes $31.50.
      You sell them 50kWh of power, which means they pay you $8.50 (50kWh x 17 cents).
      So your net is $33.5, then they apply the discount, meaning you owe them $23. ($31.50 -$8.50).

      (The numbers are examples and quite small. I plugged my actual numbers into the equations and got a difference of $61 between the two methods.)

      This deal is still pretty good. The best retailer for me at the moment was Origin, and this puts Amaysim almost level with Origin (Amaysim are better by 60cents per quarter). The disadvantage is Amaysim don't seem to offer Green Power, whereas Origin do.

      It also seems their Frequently Asked Questions are not Frequently Answered:

      How green is your energy?
      Green energy is electricity and natural gas that comes from renewable sources, such as hydro, wind, biomass and solar, instead of traditional fuels such as coal and natural gas.

      • downtime on 18/10/2017 - 13:00

        haha, a mathematical equation, ignoring concessions and with their NSW discount 28%:

        Amaysim bill = (usage charges + supply charges - solar export) * (100% - discount)
        = (usage charges + supply charges) * (100% - discount) - solar production * FIT * (100% - discount)
        = (usage charges + supply charges) * 72% - solar production * 17c * 72%

        That's why the effective solar FIT = 17c * 72% = 12.24c

        Remember, their base usage rates are very high !

        Edit: by the same method they are effectively discounting the concessions as well, very tricky & underhanded indeed.

  • ScoMosas on 17/10/2017 - 23:45
    +3

    Don't go for higher discount at all. I always prefer to go for lower price and lower discount.

    Otherwise in worst case if I miss any payment then I will pay higher price and no discount and that will wipe out the profit.

    • 17833 on 17/10/2017 - 23:55
      +1

      From my research trying to find the best deal recently I think this is good advice. Plus I think I will be happier with a simple rate and plan without any nasty surprises. I really don't like the practice of companies artificially increasing their prices above market average and then advertising huge discounts if you pay on time etc.

    • bricabrac89 on 18/10/2017 - 08:08

      Agree. Compare the actual supply and usage charges not the discount/pay on time rates. Treat the discounts as an added bonus.

  • GPAK on 18/10/2017 - 01:53

    wow that seems expensive Origin Energy QLD at 25.6c KWH peak and 15.8c KWH off peak :)

  • [Deactivated] on 18/10/2017 - 08:05

    Woe! 17c is a good FiT? I know people who were getting 70c until recently in Victoria.

    • drewbytes on 18/10/2017 - 08:10
      +1

      17c is excellent in the current market. The old excessive FIT rebates are long gone. I used to be on 42.5c at my old house and didn't pay an electricity bill for 5 years due to the high feed in I was getting. The norm now is only 6c.

    • tg on 18/10/2017 - 09:21
      +1

      Woe! (Thornton, NSW) 110.7c per litre is a good petrol price?
      I knew people who were paying 70c per litre for unleaded petrol until 2000….

      • [Deactivated] on 18/10/2017 - 11:11

        Eh? 2000? I know lots of people getting 60c+ now.

  • lostn on 18/10/2017 - 15:14

    Pay on time discount sounds a lot better from a marketing standpoint that late penalties (i.e. the normal price).

  • 8200 on 19/10/2017 - 10:12

    Where is 40% i can only find 35% off…..link

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