Red Energy (VIC) Price Increase 15 April 2019. Anyone Else Got This Letter?

kyle on 02/05/2019 - 15:00

I switched to Red Energy back in August 2018 when the Amex offer was on.

A few weeks ago, I got this letter saying my prices would be increasing from 15 April 2019. The shoulder rate is going from 21c excl GST to 25.31c excl GST, a massive 20% increase. I'm on the United Energy network with time of use (peak/off peak/shoulder). Everything else is remaining the same.

I'm trying to work out if I'm the only one who got this letter because Red Energy's website is still showing the 21c price.

I just did a comparison with Simply Energy on RACV plan on a spreadsheet. After the 45% discount, I will end up about 13% cheaper if I ignore the QFF points on Red Energy or the credit card fee on Simply Energy…

Decisions decisions.

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Comments

  • bargainhunter87 on 02/05/2019 - 15:43

    I thought this post was about the cost of red bull…

  • Ocker on 02/05/2019 - 16:32

    Check out the rates for Alinta

    • kyle on 02/05/2019 - 16:35

      Thanks. I was actually doing that after the govt comparison. Also bought the Groupon deal with $25 Wish gift card ($4.50 after today's 10% + 17% Shopback cashback), then instead of signing up via that deal to get another $50 gift card, went to Cashrewards for cashback of $70.

    • kyle on 02/05/2019 - 17:17

      Yeah I saw that. But that's NSW. No one mentioned VIC.

  • Typical16-bitEnjoyer on 02/05/2019 - 16:54
    +1

    If a price rise occurs, it will affect all retailers. Just differs by how much.

    Be warned that some retailers like to "delay" their price rise for a month or so to steal customers away when doing exactly what you're doing. Looking at the price rises and shopping around.

    • kyle on 02/05/2019 - 17:19

      Hence, like credit cards, I go for the sign up offers and move between retailers every six months or so.

    • jimbobaus on 03/05/2019 - 06:51

      Not always, can confirm i am in VIC and not getting a price increase this time around.
      It depends on the discounting the retailer does, sometimes the wholesale price increases and they can not maintain their discounted rates so they increase them,
      I left RED Energy this year as they seem to put their rates up often and hope people will just be too lazy to switch.

      • Typical16-bitEnjoyer on 03/05/2019 - 11:42
        +1

        You misinterpreted my comment.

        All electricity is "purchased" from the NEM via AEMO. Price rises, which occur sporadically and constantly, affects all retailers.

  • Peanut money on 02/05/2019 - 21:36

    I’m stuck with these jokers for a while since i paid 2 k upfront for the 30% benefit from the Amex offer

    Might try and leave them and get my cash transferred to a bank account if they let me

    • kyle on 02/05/2019 - 22:56

      I only had $600 upfront I think. Down to the last $30, hence switching.

      With Powershop, when I closed the account, the extra powerpacks bought were refunded to the bank account.

  • Of Aquitaine on 02/05/2019 - 23:28
    +2

    I’m in NSW and got the RED Energy price increase letter. I researched for a cheaper deal and was just about to switch to Momentum when I thought I’d give RED a call and tell them I was about to switch to Momentum. They gave me a deal that wasn’t only cheaper than Momentum but is actually cheaper per kWh than what I was currently paying (the daily charge was not included in the increase). So the deal I have now is actually better then the one I had before I got the letter and the better price started on the day of my call, not the price rise date.

    • Peanut money on 02/05/2019 - 23:52

      Good stuff
      Does the deal/offer have a name?

      • Of Aquitaine on 03/05/2019 - 00:41

        The Living Energy Saver plan

  • ShahAU786 on 03/05/2019 - 09:18

    I am with Click Energy and my cost went up from 18c per unit to 32c per unit. I have checked on government electricity comparision website https://compare.energy.vic.gov.au/ ended up finding a deal which will save me at least 30% cost, switched to Tango Energy. Hope this helps.

    PS: I am in Victoria 3150.

  • backpaqer on 03/05/2019 - 17:26

    I got the letter, I spoke to red first at my displeasure and they offered me my original rates back when I mentioned simply energy. I too did the spreadsheet thing several times and generally a supplier will whip reds prices over winter but red will be cheaper over summer due to lower supply charge and I have 5kW of solar. But this time Tango won me with at least 12 months locked pricing, a $50 joining credit, no cancellation fees and way cheaper. I stand to be ahead about $400 over the year. Also I have no gas supply at my house.

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