ReAmped Energy General Discussion: No Longer Taking New Customers, Usage Charges Increasing

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"

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Comments

    • +1

      I thought I read that they needed to give 5 days notice. Time to abandon ship immediately.

      • Can’t find anyone even remotely close to ReAmped at our postcode. It’s hard to voluntarily switch to a much expensive plan (and we don’t know if the other retailer is going to increase the price later this year; unless a fixed contract). 🤷🏻‍♂️🤯

        • Same. I'm signing up for Tango today just for the fixed 12 months (in VIC). It will cost 16% more for the year by my spreadsheet calcs, but the word on the street is that non-fixed plans will go up quite a bit. Playing it safe even though there's a few cheaper options. Oh, and there's $70 cashback on CR or SB ($112 if you do elec + gas). Not sure all states have fixed 12 month rates available and/or it can vary by company. Looks like EnergyAustralia offers fixed rates in VIC as well.

          • @bk1973: Happy to be corrected, the plan advertised through Econnex(cashback websites) is not the best rates on offer by Tango. On last page of sign-up through Econnex has that mentioned in acknowledgements.

            Has anyone been able to get cashback on the Prepay and save plans?

            70$ cashback could be better value if you don't stay on same plan for 12 months

            • +2

              @Swanson approved: I did compare the rate shown by Econnox to the rate shown on Tango's website. It was exactly the same for an electricity-only plan (called Home Select). If you do electricity+gas, the Tango site has a cheaper rate. I don't pay for gas directly though, so cannot have that plan.

          • @bk1973: Tango fixed rates are not that great (here in NSW).

            Forcibly looking at the barrel of shitty Origin again…

    • This is going to be a big issue for me, as Nectr have given me 30th June as the date they'll have finalised my switch. I would suspect many of us who have jumped to Nectr will be in a similar situation.

      I'll wait for any correspondence from Reamped confirming major hikes and see if I can get Nectr to expedite things. Not holding my breath on that one.

      • When did you sign up? I signed up 31/5, They told me the same 30/6 before they process my order.

      • Also got an email from the agent stating they can’t guaranteed that terms of the contract will be valid (fixed, 12months etc). It seems like they can still back out of the deal even though they confirmed 30/6 as date of switch with me. I assume they can still just cancel the contract and not switch me…

    • "Just jumped on the chat with Reamped. It’s a sure 100% price increase from next week apparently."

      It's a sure 100% not a price increase from next week, at least in Victoria. They aren't allowed to increase rates until August 1.

  • +2

    Everyone in Syd, NSW - maybe check Wattever for Red Energy’s 12 month fixed rate tariffs. It looks to be the next cheapest option after Nectr pulled the pin on their rates.

    Specifically the “Living Energy Saver” plans, rates fixed to 31st May 2023.

    BPID docs here for that: link

    • +3

      Red Energy’ Living Energy Saver Single Rate – Ausgrid
      Daily supply charge 81.38 cents/day
      General usage rates 21.98 to 22.31 cents/kWh

      vs

      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

      hard to tell….higher daily charge but lower usage charge. depends on usage?

      • They had an offer which was a demand based transitional TOU (peak/shoulder/off all at 16c incl GST) for postcode 2112, demand price was 19c.

        As always it’s heavily dependent on tariff type/location, but yeah it is hard to tell. Too complicated IMO, and the energy made easy site didn’t even have that plan available until I searched it.

        • Yeah, the Energy Made Easy site basically goes "sorry too hard" for any plans with a demand tariff.
          Frankly though, the demand tariffs scare me. F..k up for one day, and you pay that penalty for the whole month.

      • Hey tightass, thanks for the data.

        Inputting random 1000kWh usage for 91 days (about 2 people use), it is cheaper (by about $10 per quarter) to use option 1 - Red Energy Living Saver Plan.

        Even for low usage (eg. 500kWh for 91 days = 1 person use), the savings from another plan is negligible.

        Based on above - did not consider either EA Total or Tango, as both their Peak & Supply costs are higher than Red Energy.

        • +1

          yeah it's a bit like splitting hairs

          best to just go with either Origin Go or Red Energy's fixed rates while you can before the rates go up

          I feel sooner or later the fixed rates will go up when more people sign up or the companies decide to charge more for it as they can see the variable rate going up too

      • +1

        Thanks for sharing this in one comment, as i'm trying to track multiple tabs. Why do you include EA Total and Tango EB plans in this comparison… are they not clearly worse than the other options?

        I'm leaning towards switching to EA No Frills just because i'm already a customer and it's convenient (no switching hassle).

      • +2

        Thanks for sharing this information - it saved me wading through the hundreds of contracts listed on the government's comparison site, because filtering by fixed term contract gave me zero results.

        I've signed on to the Red Energy plan, but did want to highlight what appears to be an escape clause in their Customer Charter that allows for variation of the fixed rate plan. Section 23.2 of their Customer Charter allows for a variation of a customer's contract in response to a "Change Event," with a Change Event defined as:

        The introduction or occurrence of any of the following or a change to any of the following after the date on which this Agreement commences:
        1. any tax, levy or duty that is imposed or passed on to us by any government or semi-governmental body or regulatory requirement (including consumption, goods and services or value added tax, production tax, energy tax, fuel tax credit, carbon tax or carbon price or greenhouse gas emissions tax or environmental tax); or
        2. any cost, levy or charge incurred by or passed on to us:
        (a) in connection with participating in the national electricity market or the gas retail market; and/or
        (b) in connection with the acquisition of electricity or gas or the retail of electricity or gas (including the cost of price movements in the wholesale markets
        , a change in your metering arrangements, the cost of complying with a change in the Relevant Laws, a carbon pricing mechanism (whether fixed or floating price) or similar scheme, the cost of complying with obligations to acquire electricity from renewable (or low emission) sources and the cost associated with any energy efficiency, smart metering or similar scheme); and/or
        (c) by your Distributor and/or your Metering Service Provider; or
        3. any event which constitutes a FM Event under a third party contract to which we are a party.

        Not trying to scaremonger here, and such clauses might well be a feature of competitors' contracts, but anyone considering signing with Red Energy should be aware of this.

        • +1

          Interesting… I went with Energy Australia No Frills. Searched a couple of the terms above in their T&Cs… but i'm not reading 20 pages of small print.

    • @Dealhunter - where did you find info about end fixed date? Cheers.

      • Hey @Brodo - I phoned them up and asked for the plan info, they confirmed the end date. It was also on their website here

        Great fixed rates, guaranteed until 31 May 2023

        • +1

          Ahhh thanks mate! I couldn't find it on Energy Made Easy

  • I moved over to simply energy. They have the best Solar FIT at 12c. Their daily and usage charges aren't amazing but we use under 9kw most days so our solar generation with the higher FIT will cover that

    • man i had imported 11kwh before i got out of bed

  • +7

    This whole debacle is exactly why electricity grid and provider network should be wholly government run. Having to waste time trying to find the best price on electricity when it is all coming from the same place

    • +2

      You're assuming that the govt run shop's "best rate" would be anywhere near the best rates you have to choose from now.

      Did you ever pay STD call rates with Telecom Australia? What do you think of the cost of road tolls?

      It's a bit worse when it's like it or lump it

  • Has anyone had or planning to install solar panels because of the energy price increases? I’m seriously considering installing one but not sure on the ROI and if it’s worth it.
    Roughly they cost $6000 for solar panels and inverter and $19,000 with Tesla Powerwall 2 battery. The battery option is way too expensive to justify but keen on just the solar panels and inverter to use solar during the day.

    Any thoughts?

    • I booked my install today, 6.6kw system and 5kw inverter, $4,300, not the cheapest but mid-tier invertor and high quality panels,

    • +2

      solar is almost always worth it in the long run (especially with these new rates). you will get an ROI before the warranty expires on the equipment (panels, inverter etc). this is assuming you get the right system for your location and don't have excessive shade. get as big as your roof and wallet can handle. you wont regret it. its mainly the upfront costs that is hard to swallow.

    • +1

      Batts not worth it, not from economical point of view. Solar is but get it installed by a reliable business and not the "super solar power bill buster summer cruncher champion" type of ads.

      • We use quite a lot of power at night 2am-5am due to timed exhaust fans and dehumidifiers that can't be run during solar generating periods, would that influence the ROI on batteries before their warranty runs out, do you reckon?

        • +1

          Depends on your situation (costs of electricity, usage, FIT, etc) so you’ll need to do your own calculation. But in general, for most people it wont break even before warranty expires.

          I have 10kW system and get credit back every month even with the bad rates atm. But I do live in a QLD with a lot of sun and my roof is north facing with no shade.

    • There are other options for battery apart from Tesla

  • did AGL just get rid of their fixed price contract? I can only see variable right now

    • I have been researching all evening and only see very few fixed price electricity plans.

      • AGL had it until tonight….

    • +2

      I signed up to this fixed plan a couple of hours ago. 100 bucks good guys voucher and 75 bucks off your first bill. Used Maroochydore store and Sarah for the agent

      https://www.agl.com.au/get-connected/electricity-gas-plans/q…

      • This is what I tried earlier, but when I click on the basic information it shows variable rate, not fixed

        • For AGL value saver under Rates and charges it states:

          The rates (supply, usage, and demand) under this energy plan will be fixed and won’t change for 12 months.

      • I signed up in the arvo. Hopefully AGL will honor it.

  • -1

    prices definitely have been jacked up in the past 2 days. with this pate, we better stay with reamped energy.

  • +1

    Think about switching to Alinta Energy as an alternative. My only concerned is
    Other fees
    Disconnection fee
    $179.66
    Disconnection fee for moving out of the premises
    $12.79
    Reconnection fee
    $0.00
    Reconnection fee
    $126.14

    Should i be worried about these?

    • Pretty sure these fees reference your meter being physically disconnected & reconnected from the grid completely (not moving providers).

      This would only happen if you don't pay your bills and they cut you off of the grid.

    • Disconnection and Reconnection fees are charged by the distributor to the retailer who then charges you (possibly adding some margin?) for the physical connection or disconnection of the electricity supply to your premises.

      Unless you're doing some renovations that require disconnection (rather than you just switching off the power) - i.e. you're moving your meter box; or you have lots of unpaid bills, I don't see anyone in normal circumstances getting charged any of these fees. I often wonder why they're so up front about those fees, given how infrequently they'd get charged.

      This is all, of course, assuming my understanding is correct…

  • Looks like Tango are the next ones to no take anymore customers. Was working 5 mins ago and now error when entering victorian postcode

    Edit: seems to be working on and off, could be with all the extra trafffic

  • For all those looking to make the switch… if you are interested to choose a company supporting renewables and the planet check this out… https://www.greenelectricityguide.org.au/#rankings

    I moved to Momentum (rated no. 2) based on this and found them reasonable for rates in my area (3205) and they support Australian hydro. In comparison many of the comapnies at the bottom get the majority of their power from burning coal, support fracking and plan to burn coal until 2045. I know this is OzBargain but perhaps there is a choice that supports Oz jobs, the planet and your pocket.

    • +1

      As a long time Momentum customer I hope you fixed your rate (mine isn't sadly) because holy hell are they quick to up rates.

      They just sent me an email today patting themselves on the back that they won't immediately drop the 6.7c solar FIT in VIC to 5.1c on Jul 1 when the minimum changes, meanwhile other retailers are offering 8c.

      • As much as I like FIT I can't help to think solar holders are being scammed.

        Given prices the government is getting more in taxes therefore maybe fund subsidies for more roof top solar.

  • +1

    Solar is definitely the long-term solution. However, it is basically not possible for a graduate student entrepreneur who is still living in an apartment and cannot afford a standalone house.

    COVID-19 already ruined our business and cash flow. The government won't help, and I won't help either (actually cannot help). I have to say sorry, but this is actually happening.

    I don't know how many more energy companies will be bankrupted tomorrow, as you can see the wholesale spot price in NSW at MIDNIGHT is still around $460/mWh ($0.46/kWh), with a 60% increase in a SINGLE DAY. The predicted price at around 18:00 tomorrow will reach $15,100/mWh and last 2-3 hours.

    If the price hike is still ongoing, we will see $1/kWh within this week. I doubt if ReAmped can survive for another week.

    However, I saw lots of people are feared and left. It is still possible for us, who are still draining money from ReAamped, to win this game.

    For small energy companies, this is basically a GAME OVER.

    • Where I can see the wholesale spot price?

    • Are you suggesting we stay with Reamped until such a time as they do drastically put their prices up?

      • You may transfer only if you can find a "transferable" and "fixed" plan within a 10% higher price (or higher if you can afford it).

        Origin has a plan in my area with 15.7c/kWh usage charge, but it is not immediately transferable and is not fixed. It takes several weeks to change the tariff structure, and upgrade the meter, and I also need to wait for a 10-business-day cool-off period. So I will wait and see.

    • -1

      Solar definitely is NOT the long term solution. Not for the individual, nor for the country. It's a short term solution. Without huge expensive battery storage anyway. People will shave some $ off their bill temporarily, but without a storage bank to get off the grid entirely, you still only produce power during the day, only significantly when it's sunny, and still have to draw back at night. Prices will continue to go up, feed in tariffs will decrease (or disappear) so they can still afford to run baseload power at night, so you're still at their complete mercy.

      • +1

        If nobody is at home during the daytime, the answer is NO.

        However, It is definitely a solution for me, as I can drain all 6.6, or even 13.2 kW output during the daytime with my workstations and charging the electric vehicle (by adjusting the appropriate charging current). If using the Time-Of-Use tariff, the electricity at night is the cheapest.

        The only risk I see is the hail damage. But I think the insurance may cover it.

        The $16,000 battery storage is just a scam. It is just like a "donation" to the environment, or if you have tons of money to be wasted, or if the electricity supply is super unstable in your area. It has a general lifespan of 1000 charging cycles, or 13200kWh (after that, it may die at any time). The amortised cost is more than $1/kWh.

      • Oh no, the sun only shines during most of the time people are awake, it's useless

  • So far so good with Tango, signed up Tuesday night via shopback portal and received email overnight with welcome letter.

    • … and they may change the rates like they did to the guy several posts down.

      • I found the rates via Shopback were more than going direct with Tango

    • What rates did they quote in your offer letter ?

    • a good read of the obligations,
      but looking at the Victorian default rates even if ReAmped went to those they are a lot higher than what others are offering on fixed, particularly the daily service charge.

      • Yeah, falling back to default rates is like the runner up prize at the raffle

    • There is no such regulation in the ACT (they only restrain ActewAGL but not others).
      I don't know if ReAmped is regulated by VIC (it is a VIC company) even for their service in the ACT?

      • There is regulation in ACT. It's covered by the National energy customer framework enforced by the AER.
        https://www.aer.gov.au/retail-markets

        • That is really vague, and contains limited useful terms. I like the one that retailers can only increase the price once a year in VIC.

    • +3

      pertinently

      Victorian retailers can only increase prices at specific times to provide customers with certainty about prices. When that occurs depend on whether a customer is on a standing or market contract. For electricity customers on market contracts that are not fixed term contracts, the next time prices may be increased is 1 August 2022. Retailers must give notice to customers of any variations to tariffs and charges as soon as practicable.

      Will stay until Aug then unless I'm reading this incorrectly.

  • +1

    Just signed up with Tango on the Prepay & Save plan but I got the welcome pack email and the rates are way offf…..

    Online rates:
    supply = 77c/ day
    usage = 17.6c/ kwh

    Rates I was emailed:
    supply = 91.3c/day
    usage = 19.14c/ kwh

    Anyone else see this ?

    • From my experience, you need solid evidence to make a complaint, such as screenshots, videos, etc. I always take a video of the screen when signing any of the deals, along with a system time from google.com to make sure they cannot argue.

      But you will be good luck if they are nice.

    • No, I switched to nectr. But you probably have a 10 day cooling off period. Use it to find somewhere else (if they all haven't closed their books to new customers like nectr has).

    • +1

      Just use your cooling off period.

  • Been with them a while and was happy with their prices and service. However got a letter recently flagging significant price increases and promptly jumped ship to another provider with a better deal. Apparently prices won't change for 12 months so should be ok for that period anyway.

  • One question I keep coming back to is why the huge increases in wholesale?

    We make our own electricity. We make it using predominently coal and renewables (Hydro, Wind, Solar) and some gas. We mine our own coal, we drill our own gas.

    Costs of mining said coal/gas would not have significantly increased, so this is purely an increased cost due to increased demand for Australian coal/gas due to the conflict in Ukraine, increasing the global cost of coal/gas. Australian miners/drillers could continue to sell their coal/gas locally for roughly the same cost, but then they'd miss out of selling it overseas for significantly increased profits.

    So if Australian companies want to use Australian coal/gas, they need to pay the same significantly increased price as everyone else. And who ultimately pays? Australian consumers, since all the energy companies are increasing their rates to cover increased costs; some energy companies increased costs being due to their own company/subsidiary/parent…

    • One question I keep coming back to is why the huge increases in wholesale?

      Just checked Victoria wholesale prices $400 mwh. It is nuts considering brown coal isn't exportable (low energy content), only reason is gas and because it is eastern state energy market is NSW and QLD is taking some of our supply. Don't expect to see these high prices coming through to solar FIT. So people are getting doubly screwed.

      On bright side the economics for batteries have just improved by a LOT. 5kwh battery for $5k. If you're saving $2 a day (40c kwh x 5) that is $750 a year, 6.6 years to pay back.

      Some how we need to enable micro grid which is trading of solar output within the suburb between households to screw the generators buying at 6c (vic) and selling 24c.

  • -1

    I am so glad and relieved to see Labor can form a majority government and is sane on the issue of coal and gas. I honestly don't care if it is Labor or LNP to win the election as long as no deal with Greens and / or Teal ones….

    • -4

      Even without a Greens deal Labor is already brainwashed by them.

      Anyone who didn't vote for Freedom Parties this election should be ashamed of themselves. How many times have we heard, "Both Labor & Liberal are as bad as each other." Well we finally got an alternative but many who have said that proved they're all mouth and no backbone. Even without their vote Freedom Parties still came from nowhere to basically match the Greens votes overnight. And those senators will be in place for 6 years… which means Labor & Liberal are guaranteed to lose even more seats in 4 years at the next election, which means they may still be "in" but will effectively lose the ability to pass foolish/control freak legislation or force more bullshit down our throats like they have the last two years.

  • This is all for ReAmp

    Are people fixing their gas too? any good gas fixed deals in NSW?

  • I was just looking at Tango to make the switch, but they seem to now be owned by China - specifically the China State Power Investment Corporation.

    There's just a lame feeling about the whole idea of China owning our utilities and selling power back to us, so I'll give Tango the swerve. But does anyone have any suggestions on who isn't Chinese-owned these days, that are still affordable and we can lock in a 12-month rate? I really liked ReAmped, though not specifically Aus-owned either.

    • +1

      I was with ReAmped. When I checked the comparison sites several days ago several others were cheaper. So ReAmped snuck their prices up without me realising.

  • It's pointless switching right now unless it's to a contract with locked in prices - because they'll all increase (or go out of business). Which means the cheapest one/s today will probably be close to the cheapest one/s after the astronomical increases too.

    Anyone changing remember some companies have referral bonuses.

    I switched to nectr a few days ago for 12 months of locked in prices. They emailed me that I got in but they aren't accepting more new customers.

  • +1

    Do people know much about the solar panel initiatives? I know my energy company said they will install free Solar panel system as well as a battery but it will be on a 7 year contract.

    • This is amazing, you can then sell the battery for around $10,000 (because it is useless for most of us). If the price is fixed during the 7-year contract, it is a deal.

    • Seems interesting, here’s Energy Australia’s offer:

      Solar Home Bundle

      But a good write up on cost/benefits analysis from Solar Quotes here

      • yup thats who i am with Energy Australia. hmm reading that , I am a bit confused. I thought part of the benefit is that if it comes from the solar panels or battery then i wont be charged for that electricity, that doesnt sound like the case. So basically i still keep paying but i just get the panels and battery at the end of it for free although it sounds like the battery wont be that good by then.

        Currently They seem to think i used the energy of 6-7 people!!! thats why i was looking at solar.

        • Yeah I’m thinking about this, versus just putting in a good 10kW solar system in for ~$9K, but no battery, and changing to a Powershop plan with 13c FIT.

          I seem to be having the same problem where I thought I was using around 14-18kWh/day, but am being told it’s near 25kWh/day.

          Let me know how you go either way, seems to be a lot of silly math involved in working out the optimal solution.

  • -2

    Why is my electricity going up? "Coal prices are going up". As much as I agree with phasing out and moving away from coal, lol to the idiots who demanded sharp and almost instant removal of coal from our power grid.

    • Careful bro. The Greens are going to steal your children overnight. They don't like it when people think.

      • -1

        haha true, too bad Australia ramped back it's coal production to "decarbonise" ahead of the power grids actual capacity to do so. Covid pricing on renewables created enough uncertainty in current technology to wait for a better baseload alternative to lithium batteries. As an electrical engineer I'm literally educated to have an opinion on the matter (it's an opinion because it speculates on future technologies, as well as the fact that there is more than one good answer to decarbonising the grid). If anyone reading has an opposing educated opinion, share it and don't just downvote like some political science major. If you fall into the latter category then please use your understanding of electricity to build yourself a DIY fractal burner from a microwave inverter, hold either end, turn on and let your opinion shine from the grave :) Here you go: How to Make a Lichtenberg Burner With a Microwave Transformer

  • +4

    haha - just got this email from ReAmped -

    Finder are offering ReAmped customers a unique offer that will include a $100 Woolworths gift card when you switch energy providers.

    • +1

      lol they really want to get rid of customers.

    • Saw this too!

    • +2

      I will wait until:

      1. They are bankrupt.
      2. They actually send a 100% price increasing notice.
    • I believe there is another email tomorrow. The wholesale spot price now is $600, comparing $460 at the same time yesterday.

    • all the competitors are over $100 per month dearer when I search.

    • Huh I didn't get this email. I wonder why. Are you in Victoria?

  • Anyone know if the Origin referral links are still valid? Just used the referral system on here and it took me to an Origin signup page saying congrats you're eligible for a $100 sign up bonus, but reading the t&c's, it looks like it's expired now.

    • Confirmed with Origin chat that the referral credit expired in March 2022 and is no longer available.

  • I joined their Handshake plan 3 months ago, wondering if the will bump up the prices?

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