Just saw this: https://www.facebook.com/ReAmpedEnergy/photos/a.204384449899…
"Dear Australia, we love you, but given major volatility in the energy market, we have made the tough decision to stop taking as many new customers as possible, at this time. This choice enables us to look after our existing ReAmped customers and we’ll be back in the market for new customers when the time is right.
Thanks for your continued support, ReAmped Energy x"
Other relevant topics:
Did but daily charge was super high.even though the rate was cheaper. Also they were not a locked in 12 months for the rate.
Tango for me worked out to be
Daily Charge (¢/day) 66.0
Peak Rate (¢/day) 20.68
ye, got email yesterday and switched to Tango today , Mebourne southeast
I was impressed with ReAmped emailing and SMSing saying it's better to switch, looked up my place using my meter on energymadeeasy and it says Origin Go Variable is cheapest for me now, thing is the Origin website only advertises Origin Go which is another different price.
Guess I gotta call them tomorrow.
I called them, and they said it is for a special type of meter and I cannot get it living in an apartment.
https://www.energymadeeasy.gov.au/plan?id=ORI331931MRE4&post…
Origin Go Variable
Is there any special requirement to join this plan?
Marc profile
Thanks for getting back to us 😊 Our Origin Go Variable plan is not offered through the website and it has to be signed up over the phone 😊 There are no other requirements for this plan. It has no lock in contract no exit fees.
Just asked the customer support, you can join it over the phone.
Thanks mate!
How does it work with switching? I just had my meter read 24 May so just got a reamped bill; can I switch immediately or do I need to wait 3 months for the next read to change retailers? Or do I need to request a special meter read and pay for this in order to switch immediately?
I'd like to know too!
Just choose your new provider and sign up with them and it the relevant cogs will turn. If you don't have a smart meter and the new provider wants a meter read, they will arrange for you (there may be a small fee involved)
Asked ReAmped live chat,
"if you sign up with a new retailer they will inform us and we will begin the process of closing your account"
i think the new retailer pays for the special read fee (at least agl did when i previously switched mid billing cycle)
Reconnection fee - $0.00
Reconnection (Visual Safety Inspection Required)Reconnection fee - $112.43
Wasted Visit fee (VI not complete)Reconnection fee - $132.40
Out of Business Hours Reconnection (VI Required)
What are these fees with Alinta, specially the middle one?
Middle one is if they need to do a visual inspection and can't obtain access (due to locked gate, angry dog, grumpy wife, etc)
Reconnection doesn't apply when you're changing providers - it's when the power is off and they need to reconnect it
Ahh makes sense now. I was wondering why I received so many Nectr referral requests last night.
I'm not sure what to do
I only pay $25 a fortnight for my power with Reamped but got that email last night
I checked the energy compare site but there was no cheaper plans avaliable, fixed or variable
For reference, I am in Ballarat
I have only lived alone for 12 months so am worried i am about to be screwed either way haha
I'm in the same boat, really have no idea what to do, friggin adult stuff…
Scared that prices will double as they've said but, not really seeing great alternatives in my area (Brunswick, VIC)
The Guardian put this on their live blog, but can't find any confirmation from the AEMO website itself:
"The Australian Energy Market Operator (AEMO) has imposed a price cap in Sydney, Brisbane and Victoria for the first time ever in response to record levels and a cold snap driving up gas use."
But I can't even find what the new price cap is, and what difference that would be to the current prices…
I believe it's $40/unit
This is already a deal. In QLD try: https://www.agl.com.au/get-connected/electricity-gas-plans/q…
I selected Maroochydore as store and Sarah as agent
$100 good guys credit, which they sent via text immediately.
$75 off first bill
Fixed rate for 12 months
No termination fee
Thanks mate. This is the cheapest fixed rate for me. Coming from 14kWh and 74c/day supply charge with Reamped to 18.9kWh to 103.12c/day. Hurts but locked in for 12 months at least
I'm confused - if you click the "Basic Plan Info" - it says These prices for variable rate market contracts will change on 1 August 2022 if you sign up.
So when you look at the rates / sign up, are they both the same rates for fixed & variable? Usually companies would have 2 different rates for either.
I am with ReAmped energy as they are the cheapest in my area and got an email few weeks back that they have increased rates. Actually they reduced the daily charge and increased the per KWh rate.
Now they sent another email stating below: -
We are writing to you in unprecedented times for energy markets.
We know Australian households are already facing significant cost of living challenges, and we don't want to contribute to those any more than needed. We are now in the unpleasant position of advising you that you can get much better prices with another power company.
We recommend that you switch to another power company as soon as possible while good prices are still available.
This situation is no fun, but we are not your typical power company, so we want to be straight up with you. That’s why we’re telling you there is better value right now with other retailers with different operational structures. You can avoid dramatically increased prices by switching to a different power company now.
I tried to make comparison on EnergyMadeEasy, and found that cheapest is Simply Energy at $1280 per year, Origin at $1370 per year and ReAmped is showing $1610 per year.
There is usually a connection and disconnection in total of $100.
Should I consider switching and are there any good deals, I can see Origin is having deals.
EnergyMadeEasy is probably outdated. It has Simply Energy Saver+ Ausgrid 28% off as the cheapest for me, but I cannot find 28% off plans on Simply Energy's website. The best they got is 18-20% off.
Some of the plans are for special meters, and I have no idea how to get them (at least apartment residents cannot). Such as the Origin Go Variable, which offers about 15c/kWh for the first 165kWh/day in ACT.
You can't get certain plans unless you pick up your apartment building and move it to where that specific non-standard distributor network is located. ie. ACT, certain CBD locations.
Every year I need to search whirpool threads to find the best feed-in for our house, as no website has a decent solar search function.
Nearly is always AGL or Origin, like the channel9 deal at 21c a few years ago. We made $400 that year ($700 credit in summer, broke even in other seasons and used 300 in winter).
No point switching unless it's a contract with lock in prices. Otherwise what you sign up for today will change as soon as the expected increases come in.
its cos spot prices are thru the roof and regulators imposed a cap on the amount retailers can charge customers. So revamped will lose money on customers. They're not doing this out of the goodness of their hearts.
So what to do now? Is staying with reamped making any sense? What are their new rates?
It's actually a very smart move from ReAmped.
The more customers they have at the moment - the more it's gonna cost them. Given they don't generate their own energy like other big companies such as Origin or AGL, they purchase spot price/future price of the energy and it is going through the roof at a rapid pace.
Since can't increase their price as fast as the rate the energy cost that's been increasing over the last few month - by telling their customers to leave - they actually reduce their losses.
Also a great marketing stunt as it's saying 'we don't want you to be overcharged because we look after our customers'
Genius move by the company IMO.
In that case is it risky to stay with them? Will prices actually double from them if you're in a fixed contract?
nope its transparent and amateurish last ditch attempt before they drown
would you prefer they are non-transparent before they drown then?
They are actually being non-transparent because no where are they saying the truth that they are losing money soon and fast if customers stay with them.
@chillipaste: No, but nor are they being misleading in telling customers that their prices are going to go up significantly, as they are.
If they were not going to have to significantly increase prices to their customers, this would unlikely be happening. If my understanding is correct:
Even if ReAmped decrease their customer base, they still need to buy electricity at current prices and will still need to pass this on to customers. Decreasing their customer base merely makes it more achieveable for them to come out the other side still existing - i.e. their ideal situation is likely for all customers to leave, they stop buying/selling electricity through this period and then reopen for business on the other side. No, they're not telling you the whole story, but they have been up front that they're going to be hiking prices.
What other retailers have come out and advised their customers who aren't on fixed rates (or who's fixed rates are expiring in the near future) that their rates are going to significantly increase? This is like the recent furor about the Framework laptop not disclosing everything about their components. Yeah, ReAmped isn't being completely transparent, but they're being more transparent than the rest of the market. Lets not lambast them for that, hey?
@Chandler: Agree with all your points - better to let customers know upfront so they can switch, which no traditional retailer would ever do.
In any case, a good step forward on being more 'transparent', even if they aren't telling the full story.
@Chandler: I just wanted to clarify that you don't buy energy in advance, you buy futures.
The cost of these futures is similar to options on the open market, you pay a very small percentage, like insurance, to lock in the rates.
However as the price goes up, the cost of these contracts will either
a) increase to cover the additional risk the seller is taking on board , ie from 2% of the value to say 5% of the value
or
b) the actual strike price will increase, ie it will increase from a cost basis of say 10c/kwh up to 20c/kwh etc
For a razer thin margin operator like Reamped, even throwing away these small percentages down the drain is a significant wastage for them.
TLDR if they don't exercise their futures, they aren't losing the full value of the energy, just a small portion of it. That portion varies based on how far out you are buying the future for, how large the parcel is and how much appetite for risk the seller has
@chillipaste: https://www.news.com.au/finance/business/reason-energy-compa…
Seemed pretty transparent about the losses in their facebook reply
meh im staying coz everything else costs more.. pretty sure they ant double my bills coz in vic they need to offer at least the default offer or they go bust. just an industry shakeout nothing unusual when i move it will be to AGL for the time being
I was thinking the same , doubt they will double in price, but even if it jumps by heat 20% for me ends up costing more by staying. And as a guess by what they think they will go up, I'm pretty sure it's going to be more than 20%.
Thanks why endee up signing with Tango, rates were around 10% higher than Reamped for me plus $70 cashback through shopback
Anyone know the best company in Vic on SP aus net, im finding that Vic compare pricing is incorrect with some providers
Lumo is the best for me, with TOU tariff.
Lumo is
Service to Property (c/day) 93.500
Peak (c/kWh) 29.205
Off Peak (c/kWh) 16.170
Reamp
Peak $0.2970/kWh
Off Peak $0.1595/kWh
Daily Supply Charge $0.7777/day
Power Shop any good?
they are expensive for me
Daily supply charge 94.60 c/day
Peak consumption – Every day, 3pm - 9pm
All consumption 34.10c/kWh
Off-peak consumption – Every day, 9pm - 12am; Every day, 12am - 3pm
All consumption 18.15c/kWh
** Interestingly new Peak time is 3 pm to 9 pm only, all other time is off-peak time, now we have peak time on weekends and public holidays :-(
@podilamaya: Oof, ReAmped after doubling would be cheaper than that, unless your particular area / distributor has insane pricing
Lumo or Tango from the looks of it. Momentum used to be good, but they jacked up their daily service charges.
Elysian Energy also stopped accepting new customers in ACT.
Sorry ReAmped, you have to lose money, because as a customer, I really cannot find other lower rates and will not pay more to save your business. Have you ever thought you will face this situation when you sell electricity at a price below the network cost last year (p.s. network cost is the fee of delivering the electricity, which does not include the electricity itself)?
You realise they are going to jack up your rates by a lot right? That is what they are explaining. Unless you are on a fixed price contract, they only need to give you between 5 and 30 days notice depending on where you are
I think i'm going to call their bluff and wait for an actual price increase notice because after using Vic Energy Compare, based on my usage, i'm paying $1620 per year with ReAmped, the next cheapest offer is with Simply Energy at $1650 per year.
Check what contract you're on and when the term expires. Otherwise they could hit you with 5 business days notice and depending when your meter was read, could take 1-3 months to churn. You can pay a read fee but a lot of providers won't do that for you outside the majors.
I am happy to see people are going to sacrifice themselves to help the company. However, I am not the person. I am now paying $600-700 per month for the electricity with ReAmped. If I switch, I will pay $200 more per month. Who pays my loss? The government won't.
I received another email from ReAmped today again, titled "Leave ReAmped now to avoid much higher bills".
Please Please don't send any messages to ask me to leave. I am happy if you can find a comparable rate from other retailers. However, we MUST admit the FACT: Now ACT and NSW customers are isolated. No one accepts us.
Just switched to RedEnergy as it is similar price for a 12month fixed Plus I picked the Qantas plan to get 10K Qantas Bomus Points and 2 points per dollar spend.
I live in Sydney
I was on a very good deal with Reamped but they increased their price significantly
old rate(incl GST)
Anytime: $0.1762/kWh
Supply Charge: $0.8414/day
Rate from May 24 2022 ((incl GST)
Anytime: $0.2203/kWh
Supply Charge: $0.6972/day
Red Energy (incl GST)
Anytime:22.308 c/kWh
Supply:81.378 c/day
Last 90 days usage 1410 kWH
Reamped: $373.37
Red Energy: $387.78
I could have gone for cheaper variable price option like AGL , Alinta but wanted the 12 month fixed price guarantee..all indications show price is going to increase significantly so locking it seem to be a better option for me.
Existing
Peak: $0.187/kWh
Shoulder: $0.1226/kWh
Off-Peak: $0.1089/kWh
Supply Charge: $1.419/day
Retailer Feed-in-Tariff: $0.03/kWh
From 24 May 2022
Peak: $0.2338/kWh
Shoulder: $0.1533/kWh
Off-Peak: $0.1362/kWh
Supply Charge: $1.2771/day
Retailer Feed-in-Tariff: $0.02/kWh
Monthly usage 4500-5000 kWh.
I cannot see any other retailer that can offer a comparable price even after the increase.
@neytirix
My understanding is that there is going to be another rise after the last ones they informed customers of in the last few weeks. I could be wrong though.
No judgement at all, but 4500-5000 kWh/month seems crazy. I've no idea what's normal… but mine is almost identical to Solosurf
The Qantas plan didn't seem to be fixed price from what I could see… unless they changed it in the last few hours.
Great fixed rates, guaranteed until 31 May 2023 is what I see for the Living Energy Saver, not the qantas one too.
Yeh i saw the fixed for the Living Energy Saver, but not the Qantas plan. Worried @Solosurf thinks he's locked in rates when they haven't.
you are right.. Qantas plan is varible, I must have missed it somehow. Thanks for flagging, I just called them and changed to the living Energy Saver plan which is still good and I get the satisifaction of supporting a 100% Aussie company.
You should just double check on that. I was tossing up between Qantas Red Saver and Living Energy Saver - only the Living Energy Saver is fixed. Qantas is variable
Quite happy with Reamped in last 12 months , paid $0.1768/kWh and $0.3929/day.
Switched to Tango this morning and will be paying fixed rate $0.2068/kwh and $0.66/day for next 12 months .
Likewise, was between Tango & Lumo and went with Tango
Switching now to Tango. I think it's the smartest move. Even if rates somehow don't go up (doubtful!), we can always change to something else. We're not locked in for 12 months, but the Tango rates are.
where are you?
Tango gives me this:
Distributor
Ausgrid
Daily charge (¢/day)
91.300
Peak rate (¢/kWh)
27.170
Standard solar feed-in rate (¢/kWh)
5.500
United Energy is the distributor in my area Melb SE
https://www.energymadeeasy.gov.au/plan?id=ORI331931MRE4&post…
Origin Go Variable
Is there any special requirement to join this plan?
Marc profile
Thanks for getting back to us 😊 Our Origin Go Variable plan is not offered through the website and it has to be signed up over the phone 😊 There are no other requirements for this plan. It has no lock in contract no exit fees.
There is a better plan from Origin in ACT, especially if you are a heavy user.
Daily supply charge 134.24 cents/day
First 165 kWh (per day of usage)
15.72 cents/kWh
Remaining
19.14 cents/kWh
Hmm am with Reamped but applied to Nectr last night as they were the next cheapest for me with a 12 month fixed rate. Today I see they aren't accepting new customers so I wonder if my application will still go through haha.
NSW Essential Energy
Existing
Peak: $0.22/kWh
Shoulder: $0.165/kWh
Off-Peak: $0.1155/kWh
Ctrl Load 1: $0.1248/kWh
Supply Charge: $1.3811/day
From May 24
Peak: $0.264/kWh
Shoulder: $0.198/kWh
Off-Peak: $0.1386/kWh
Ctrl Load 1: $0.1358/kWh
Supply Charge: $1.4501/day
See if you received an email this afternoon from Nectr, they sent me one confirming I will be switched to them.
i also got a confirmation email this afternoon, so you should be fine if you signed up
When did you guys apply?
I can't find any fixed rate deals for SA.
Is that right?
We're screwed it looks like.
Gah
Hey mate, I signed up to origin go with their 12m guarantee. Rates are OK. Bonus woolworth points (10k I think) for a new signup.
https://www.originenergy.com.au/for-home/electricity-and-gas…
I think if you signed up with Origin with Fibre plan, you could get an extra $200 energy credit into your account, with the additional 30,000 woolies point, you might be able to break even with the current ReAmped price.
@silverwalker: Yeah good deal.
I'm currently on their OFC NBN but only on the free trial. Going to move to superloop.
ReAmped over-extended on an increase in customer base that didn't align with their futures contracts. They're about to be spanked by it, but so are a lot of others. They aren't saying leave out of the kindness of their hearts, and not wholly because of rising prices, it's because they took a gamble on their contracts and lost.
Fair enough, the price spike is unprecedented. Either way their customers will be left holding the bag, so you should leave regardless and it's good to get a heads up, but they aren't being entirely honest about why the price is goin to spike more for them than others.
Anyway, off to Lumo, elec+gas on a fixed rate until August 2023 and on with life I get. Prices aren't crashing anytime soon.
For those who switched to Nectr - looks like if you managed to sign up before they closed new applications you'll be switched, check your emails as they may have sent you a further confirmation.
Although they did give me a very very long timeframe of June 30th for the switch to officially occur…
i thought retailers are required to switch within a couple of business days under regulations
Nope, not sure what gave you that idea.
good on them for being open and honest about it. The real problem I have with this situation is there is absolutely no need for it to occur, we are being forced to compete with the global market for our own resources. This is one of those few areas where I think government intervention is justified, we should have a portion of coal and gas reserved for Australian consumption at prices set at cost + a modest profit. We only use a fraction of what we mine so the bottom line of the big miners would be barely affected and if they don't like I am positive others would happily take over their mines.
some comparisons for sydney:
energy australia no frills
fixed
Daily supply charge $0.726 per day
Usage rates Peak usage per day Flat rate 24.2 c/kWh
energy australia total:
fixed
$0.8272 per day
25.83 c/kWh
tango everyday basic
Daily charge (¢/day) 91.300
Peak rate (¢/kWh) 27.170
origin go
fixed
Daily Supply Charge 76.99 c/day
Usage Charges Summer Peak Usage 23.87 c/kWh
Was just listening to ABC news radio with Origin commenting that they are going to have to start passing on costs as well as costs have risen over 140% as they are being forced to buy electricity as they can't keep a consistent supply of fuel and what they do get is at insane prices.
hence the "fixed" part in some of my options. If you fix it now you are not subject to those raises for the term.
I actually wonder with some of the smaller companies if they will have to break those contract terms. Similar to what is happening with many builders, it is either break the terms or go bust, either way the consumer loses.
@gromit: i take it they price it all in like the banks.
Today's fixed price will factor in the rate going forward (until they change it which will be soon). Which is why there aren't any great fixed deals after a while as the companies have all caught on.
I'm also guessing they'll charge more to the variable guys to cover their books. I also assume most people are on variable anyway.
Anyhow if you are worried, Origin is the biggest power provider:
Origin: 27.2%
AGL: 22.4%
EnergyAustralia: 15.3%
Ergon Energy: 9.5%
Alinta Energy: 4.9%
Red Energy: 4.9%
Aurora Energy: 3.6%
ActewAGL: 2.5%
so they could charge more to their variable customers easier than the smaller companies. My guess anyway, although I am noob to all this.
@tighttightass: Not particularly worried either way myself. I have solar so am less affected and even doubling or tripling what I pay is not a significant impact for me., just mulling over how bad it could be for some of these parties as the current cost increases for providers were not predicted in their rate settings, wonder if they could even use the Force Majeure clause they all have to end fixed term contracts early.
I am with ReAmped on a TOU plan on the Ausgrid network and I'm in the process of switching to Momentum Energy 'shit yourself' plan:
https://www.energymadeeasy.gov.au/plan?id=MOM374472MRE1&post…
Pretty good rates - peak 34c offpeak 11c shoulder 19c.
I'm in the process of switching to Momentum Energy 'shit yourself' plan:
Is that what happens when you get your first bill?
Looks like I'm illiterate and incontinent.
have to laugh at the plan name you described
D'oh - that should read 'suit yourself'.
Now please excuse me while I go shit myself…
ReAmped are on the shit yourself plan at the moment, so you're 100% accurate :)
@bdl: Haha yeah prices doubling next week apparently. I drive an EV 40,000km a year so I would soil myself if I had to charge @ 30c/kwh.
Just jumped on the chat with Reamped. It’s a sure 100% price increase from next week apparently.
Reamped is the cheapest we ever had in regional Victoria. The cheapest offer in Vic energy compare is still more expensive than our current plan with Reamped.
Sucks we have to find another retailer at such short notice and especially leave someone we like. :(
anyone checked out Momentum
prices for VIC
Daily charge (¢/day)114.213
Peak rate (¢/kWh)16.2800