Custom Electricity Plans for Very Large Residential Usage

howard22 on 15/08/2021 - 10:48

Hi all,

I am living in Vic doing crypto mining and thus the monthly electricity is quite high. Distributors offer typical Daily supply charges between 60c - $1 and rates between 19c - 25c.

Would anybody know if it is possible to request from retailers for custom rates (and quotes) to get better rates than the above?
My monthly usage is approximate 2500kw (with solar too).

Would love to hear others who may had requested and signed up a customised rate. Could you share your experience on how did you do this?

Cheers

Electrical & Electronics Electricity

Comments

  • dust on 15/08/2021 - 10:52
    +2

    What did the energy retailers say?

    Have you considered getting solar panels?

    What are you mining?

    • Muzeeb on 15/08/2021 - 10:54
      +2

      2500kw (with solar too).

    • howard22 on 15/08/2021 - 11:23

      Not sure why I can't see my own post's 'body of text' but i'm actually asking people so no idea what energy retailers would say

      I have Solar panels

      ETH / RVN / ERGO

  • avoidfullprice on 15/08/2021 - 11:21

    Is cost of mining tax deductible? I’ve never looked into it.

    • howard22 on 15/08/2021 - 11:22

      I'm not accountant but my understanding you require an ABN to do so

      • Platinumtelecom on 15/08/2021 - 11:47

        So perhaps you could get a business electricity plan? Not sure if it’s cheaper.

        Do you mine 24/7? Because Amber could be an option if you are happy to switch off when the cost is high.

        • howard22 on 15/08/2021 - 12:04

          Didn't look particularly cheaper with business plans. I did research into this avenue.

          I do mine 24/7. I had checked Amber and they are attractive however I assume there can be a retailer who may take on a custom electrical plan for very high usage residents.

    • Lastchancetosee on 16/08/2021 - 08:09

      Only if you donate to a major political party.

  • rektrading on 15/08/2021 - 11:50

    Miners should make sure they use new wallet addresses after each distribution and hodl until ETH 2.0 or at least to PoS. The Mcap should be 400% from where it is from now.

  • meowsers on 15/08/2021 - 11:57
    +2

    Waiting for you to post that you have been raided by police for suspicion of having a grow lab.

    • howard22 on 15/08/2021 - 12:06

      Wouldn't that be a compliment - they think i have a business venture behind closed doors.

  • Ocker on 15/08/2021 - 12:13

    What are your current rates?

    • howard22 on 15/08/2021 - 13:30

      Daily supply charge at 98c and single rate at 23c and 16% discount on all items in bill if pay on time

      • Ocker on 15/08/2021 - 14:44
        +2

        See if you can get Re-Amped Energy.
        No fancy discounts etc, just simply cheap rates.
        We pay 16c kWh and .7962 supply (both incl GST)

  • Typical16-bitEnjoyer on 15/08/2021 - 12:32
    +8

    I would look for a rental that doesn't have a separate meter ;)

    You could also wheel your rig over to a local park and use a public powerpoint like that infamous OzB tightass cooking post.

  • freefall101 on 15/08/2021 - 12:36

    Very unlikely, you're in Victoria and there's legislation around rates, they can't provide varying rates for customers (they have to have a standard minimum rate for all customers).

    Plus even businesses don't get to negotiate their energy rates, you take what they offer unless you're an aluminium smelter or something.

    But why not call them up and try it out? Seems the logical thing rather that asking ozbargain.

    • howard22 on 15/08/2021 - 13:28

      I see - I am unaware Vic has diff legislation around rates; that is very unfortunate!

      It's Sunday so I thought I make this post and ask about it to see if anybody could share any experience. Having this extra info could potentially be arsenel added to the negotiation (if it goes that far the phone call). Defos will be making my round of calls tomorrow :)

  • Switchblade88 on 15/08/2021 - 12:37
    +2

    https://www.energymadeeasy.gov.au/

    Stick in your peak/offpeak/shoulder usages and away you go.

    You DON'T want a business plan - they generally start at $7 per day supply charge and rates really aren't cheaper.

    I'm at about half your usage at 1200kWh/month, and I've just signed up to Elysian Energy as their "subscription" model means I'm getting 11c offpeak and 22c peak for excess usage. Giving you're mining then you'll have about 50% offpeak so minimising those rates (and maximising the period they apply for e.g. 12hrs or more) will net you the best benefits.

    • howard22 on 15/08/2021 - 13:29
      +1

      I have looked at Elysian Energy and this is the most favorable. If i cannot sweet talk my way to getting custom rates, i'll be joining them.
      Kudos for sharing !

      • Switchblade88 on 15/08/2021 - 14:17

        Not a problem!

        I'm trying to remember if OzB has referral codes for them you should use

  • DingoBilly on 15/08/2021 - 13:39
    +8

    Damn, so much energy wasted for no reason. People like this really frustrate me - just so incredibly short-sighted and selfish.

  • JIMB0 on 15/08/2021 - 13:56
    +1

    Get more solar panels. I'd also look at the orientation of your current ones and see if you could fit them on tilt panels that track the sun.

    • Switchblade88 on 15/08/2021 - 14:20
      +1

      Tilt trackers generally never get a return on your investment - if it only costs you say $1k (which would be absurdly cheap) then you'd have to gain at least $100 per year in extra electricity to justify it. That's a tall order for any solar setup.

      Better option is more panels, irrespective of orientation

    • howard22 on 15/08/2021 - 19:57

      I've already reached max number of panels. Can't fit anymore on my roof/property

  • iDarelones on 15/08/2021 - 15:02

    Im mining with Elysian Energy. 26.4c kwh peak 7-7 9.9c off peak 7-7

    $80/month with 250kwh inc energy

    13c/kwh fit

    • howard22 on 16/08/2021 - 13:14

      Looked into Elysian and definitely gonna go with them.

      My postcode offers slightly cheaper and i opted out of the solar system plan.

      I found the solar system plans peak cost is very expensive so it didn't seem valuable to select those plans. My solar system cannot generate the demand my rigs require so i am using all solar generated power + buying off the grid.

      Instead i opted for no solar at single rate of 12c per kwh + $80 / month with 250kwh

  • Mikey85 on 15/08/2021 - 23:29

    Rates differ by post code - need to know that before any rates quoted in this thread can be compared

  • Quantumcat on 16/08/2021 - 08:20

    Just out of curiosity how much money do you make a year from mining, net of electricity costs?

    • kiitos on 16/08/2021 - 09:21

      Would like to know too, as well as your rig specs?

      • howard22 on 16/08/2021 - 13:12
        +2

        1.7GH/s with a mix of different 30xx cards

    • Waltervp on 16/08/2021 - 09:27

      If you need to worry about the cost of electricity they can't be making too much I assume. Maybe it's the future value of the crypto they really.do it for, but maybe it's easier to just deposit $50/wk into it if you are confident… It's a worry the crypto revolution has a significant power requirement. I'd be interested to see some laymen termed comparisons so I could relate energy cost of cloud storage and crypto versus the alternatives….

    • howard22 on 16/08/2021 - 13:11
      +1

      I'm able to mine around 1 ETH monthly

  • brad1-8tsi on 16/08/2021 - 09:39

    Have you already looked at wattever.com.au and energymadeeasy.gov.au

    wattever is good if you have solar

  • Thinkscape on 16/08/2021 - 10:42

    As an alternative, I'd consider expanding your solar - it's very cheap now and should amortise quickly against crypto gains (not knowing your rig and returns, but you can automate winding down rigs after sunset). Depending on your calculations slapping on i.e. 3x Powerwall 2 for additional 40.5 kWh of evening-time mining (from free, sun-provided electricity), would probably also pay for itself. I know some people got the Leaf with V2G reverse charger, that would give you 60kWh at 6-10kW power — that will vary depending on region, as in AU there are currently "trials" that you have to subscribe to, and it's not enabled yet to everyone.

    • howard22 on 16/08/2021 - 13:08

      If i could, i would - however i literally do not have roof space to place any more panels.

      The strategy you mention seems sound.. Without a doubt ideally I would like to run my rigs 24/7 with power drawn from solar during the day and power drawn from batteries during all of the night.

      I am now running 4kw/h of power for all my rigs so the solar farm will need maybe 30+ panels to feed the rigs + storage of battery?

      • Thinkscape on 17/08/2021 - 08:21

        Correct. You need enough power to power rigs + fill up the batteries.
        Did you cover you carports, garages, sheds etc. ?
        Some of those might need optimisers and cables run through back yard, but it's additional generation …

  • OzHunterNSW on 16/08/2021 - 10:55

    What are you worried about… each coin would pay for the electricity

    • rektrading on 16/08/2021 - 16:05

      People don't normally sell stonks, gold, bonds, real estate, etc, to buy a coffee or pay for electricity, and they should definitely not sell assets that have better asymmetrical returns than those that have been mentioned.

      The right way to do it is to A) use the income from other sources to pay for the expenses, or B) take on debt using the assets as collateral and then pay expenses with fiat. Both options will allow the miner to pay off the expenses, keep the assets and avoid CGT.

  • bmxr on 16/08/2021 - 10:58

    Try Amber Electric.

    Rather than paying a premium on every kWh you use, you just pay them a monthly subscription and then you get the wholesale rate for usage.

    https://www.amber.com.au/

    • howard22 on 16/08/2021 - 13:06

      I have now found Elysian Energy to be unbeatable compared to all retails in VIC.

      I'm in an area with United Energy, so Elysian offers $80 monthly subscription which includes 250Kw power and the Daily supply charge. Any additional electricity will cost 12c per Kw.

      I think I'll be going with these guys

      • Thinkscape on 17/08/2021 - 08:23

        With Amber remember that you're getting wholesale, with all the spikes both ways. That means around 5pm-7pm you might be getting a price of i.e. $0.50/kWh or even a few dollars per kWh a few times a quarter. For mining it's best to tie Amber API with the rigs, so that when price spikes up, you wind down, then when it goes down (usually after 11pm, and during the day with high % of renewables) then you ramp it up.

  • rektrading on 19/08/2021 - 03:52

    It's always good to hear about young people working smart towards financial freedom.

    An enterprising brother-sister team in a North Dallas suburb are pulling down as much as $32,000 a month by eschewing the lemonade stand and focusing instead on mining Ethereum.
    https://finance.yahoo.com/news/14-9-years-old-making-1654538…

    This industry is so rich with opportunities. People just have to be open-minded and the gains will come.

  • howard22 on 21/08/2021 - 19:10

    So just a FYI i called all retailers that supply electricity to VIC residential homes and none are able to do 'price beats'. They just read out and offer what they have per their computer.

    Pretty uncompetitive if you ask me. Welp, Elysian won my contract.

    On another note.. if anybody is on Amber Electricity, can you confirm what your cheapest and most expensive is and what times are those rates? I read these guys have different rates at different time of the day.

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