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:
I have a personal and small business account with reamped. Interestingly have heard nothing from them in regards to our business account re any imminent price changes or begging us to look elsewhere. By no means is this a big business account either think our last bill was less than our home account
When searching for the cheapest provider in our area and distributor (United Energy), via the Victorian Energy Compare website, it shows Tango Energy "Prepay & Save" (Offer ID TAN354966MR), with a supply charge of 66c/day, flat consumption of 19.14c/kWh and solar FIT of 6.7c/kWh.
However when I try to switch via Shopback or Cashrewards - the only offer coming up for Tango is the "Home Select" (Offer ID TAN380017MR), with a supply charge of 66c/day, flat consumption of 20.68c/kWh and solar FIT of 6.7c/kWh.
Is there any reason why the "Prepay & Save" offer isn't coming up when I search via Shopback or Cashrewards, and how can I go about remedying this?
how can I go about remedying this?
There is no remedy. Take the offer as is from CR/SB, or go direct to Tango for their online/website only "Prepay & Save" offer (which require a $200 upfront payment into your electricity account).
They're obviously of the greedy mindset and/or misunderstand the purpose of cashback sites. Instead of viewing us as a customer they otherwise would not have gained, they view us as morons easily lured into paying more overall to obtain an initial cashback.
You'd have to make a spreadsheet up, with one column for each of the two different rates, to check which is cheaper over a certain period.
Personally, unless there's a company offering lock-in prices still accepting new customers, I don't see the point in switching. The cheapest today may be expensive in 1-2 months. If there isn't one, may as well wait until the rises come in, after all their prices have settled down, then go with who has the lowest price.
Did you get this sorted ? In the same boat.
There is nothing to sort out.
The rates aren't going to get any better on the CR/SB Econnex offers. And whilst you waited, Tango has now removed their online "Prepay & Save" offer with the best rates altogether.
lol, 300-450-600/mWh in the past 3 days. The government said they cannot help. Then lets welcome this GAME OVER.
Good job new government, I regret that I didn’t invest my money on solar generation plants.
They've been in power what…a week?
Clearly they must be responsible for this :/
No more fixed plan for nsw?
Is gas going up too?
Yes, Gas rates have shot up lately
Hey folks. I've been with ReAmped for 3 months now, and wondering if I should switch? I'm getting a $50 monthly referral discount for 6 months (so 3 more months to go). Makes sense to stick with ReAmped till the discount is over?
Why do you get 6x$50 referral bonus each month? That’s awesome. I’ve got quite a few $50 bonuses but it’s only adhoc when someone signs up. If you are in credit when you leave, they do refund them as cash.
Referral bonus. I talked to ReAmped and they said - "Any amount you have in your account will be refunded to your bank details associated with your account.
If you leave ReAmped, the $50 credit will not be applied."
So does it make sense to stick with them till I have $50 credits?
If you leave ReAmped, the $50 credit will not be applied.
Only if you recently referred someone, and then you leave RAE, your $50 referral credit will be forfeit.
However, if the credit has been used to partially offset your last bill, they may refund the remaining balance within their exit bill, at their discretion under the current circumstances. (*)
(*) Always read the T&Cs, and check with customer service if unsure.
Only you can answer that by making a spreadsheet to compare the total cost of different plans. $50 off is nice, but that could (probably will be) easily wiped out by the kWh rate depending on number of kWh used.
Personally, if there's any company still with lock-in rates, I'd be taking the gamble and switching to them now - because we're probably going to get a doubling of our usage charges. In NSW I'm still seeing Origin and EnergyAustralia, but you'd have to check whether they're X months of lock-in RATES, or X months of lock-in DISCOUNTS (meaning they can increase $ per kWh at will).
If no company is doing real lock-in prices then you may as well wait and see who the cheapest is after the rises come in.
i.e. Go to https://www.energymadeeasy.gov.au, enter the required info, then in the second column just below the plan names look for text like "benefit period" or "12 months", then find out if it's the $/kWh (rates) or a monthly discount that is "locked" for the initial contract period.
Thanks that's really helpful.
I got an email from ReAmped for the $100 Woolies voucher if I switched using Finder. So the best way would be to go to EnergyMadeEasy to do the comparison, then use Finder to choose the provider?
Or do these 2 websites show different rates?
So the best way would be to go to EnergyMadeEasy to do the comparison, then use Finder to choose the provider?
If they show the same prices, then yeah go for it. I didn't see the $100 WW email until after I'd already switched to nectr. But I suspect I wouldn't have qualified for it and an existing nectr customer's referral URL… so I only missed out on $50.
You should check whether the company you decide on has a referral discount too. But I would try to switch asap. (I churned to nectr the next day they blocked new customers.)
Or do these 2 websites show different rates?
Don't know. You can check. It was frustrating enough having to do this again so soon for myself, lol.
The plan prices will almost certainly be the same though. The only difference might be unable to apply any referral from an existing customer, if you signup through that site ReAmped sends you to - but the company you choose might not have referrals anyway.
@[Deactivated]: Yeah you're right - the fixed rates of Red Energy are the same are on their website and on the Finder link with $100 Woolies gift card. I'm in NSW but still trying to figure out if I can get a fixed rate with referral bonus also. Any leads?
@DeeArrow: Not really… the only two who still had fixed rates for 12 months (that I saw a couple of days ago) were Origin and EnergyAustralia. But you might not be in the Ausgrid area/may not have access to both of those.
On page 2 of this thread kman2000 locked in with EnergyAustralia for 12 months, but then CaffeinatedTech replied EA adjusts their fixed rates every July (not when your 12 months is up). So I'd check with EA if that's still the case, and if yes, I'd switch to Origin fast (unless they have some similar catch).
I'd click on each page of this thread and CTRL F to search for comments on both Origin and EnergyAustralia (or "Energy Australia" with a space, or just "EA")… and IF Origin still has lock-in prices with no catches AND EnergyAustralia does adjust their prices every July, then I'd switch to Origin fast.
Do you think that Tango will respect the 12 month fixed price in VIC?
The T & C say " We may vary your electricity rates if your network tariff changes, fixed period ends, etc".
Thanks!
It is the regulation, they must respect.
Hopefully they will. I had just moved to Alinta recently when Econnex offered the gift cards, the good thing is that they already sent them to me. Time to move again. Thanks
If you received the $100 Woolworths gift card "quit" offer, don't accept it before its expiration day. I believe ReAmped will increase this to $200, or even $500.
Look at the spot price: https://aemo.com.au/en/energy-systems/electricity/national-e… We are having $600/mWh now! This is a 1000% increase in a month! ReAmped will lose millions of dollars in a single day!
Do you mind if I ask what is it that you are trying to achieve by doing this? Is your plan to bring down the company (as it sounds like from your comment) or you just like to get the $500 and then move on?
Retailers like ReAmped make between 3-5% of your bill. ReAmped has 70,000 customers and say that they pay $1253/pa which is the average electricity bill in Sydney - so they make about $60 per customer per annum which is about $4.2m per annum.
You are disillusioned if you think that ReAmped will be able to cover the said millions of dollars in losses, they would likely go bankrupt which is probably you want anyway!
Come on, I won't get any benefit if it is finally bankrupted and then I have to switch and pay more. I totally disagree with their actions:
They first change my tariff structure without my permission from Time-of-Use to Anytime (then I need to pay a further 40% higher bill). And they wanted to collect the money back from the date of this change, which is 21 days before their notice. They finally admitted this mistake and claimed it was caused by the distributor. But I have to suspect their motivation. I resolved the problem by denying the payment and filed a complaint with solid evidence that my neighbour and I were using different structures. Otherwise, they only say "contact your distributor and I cannot help".
Asking us to leave, and advertising "they are helping us". This is a joke and I don't want to discuss more. Companies are making money. They are not charities.
Energy is essential to every resident in Australia, but the government won't help. Then let's enjoy this party of bankruptcy.
There is no way to sacrifice ourselves to help them. If you can get a cheaper plan, then exit by yourselves. I won't go. If you all leave, they got a survival, I can still enjoy this low rate and pay less in my bill. I don't actually care about your actions. It is your money, not mine.
Oh for goodness sake. I personally wouldn't hold off switching for maybe receiving $100, but their viability (or lack thereof) isn't our personal responsibility, lol. They've mentioned huge expected price increases in their email to customers, so if someone wants to gamble on receiving more WW $ by waiting, that's their decision and while I wouldn't call it "wise", there's no "moral wrong" in it. The facts are it's a business not a person, that businesses are "firewalled" from the owner's personal assets (or at least should be if they're not complete clowns), and business FAIL all the time after which many of those owners open new businesses thanks to that separation. So stiff cheddar.
On 9th May they emailed me putting my rates up from 24th May. If they are bleeding so much money- why haven’t they put my rates up again? Is there a limit how often they can do this in NSW?
What do people think the risk is that other power companies will raise their rates and no longer offer fixed term? Is it worth paying extra now to lock in a fixed rate to shield from the volatility ?
I'm not sure about NSW but in Victoria there is a limit of 1x per year :D
"On 9th May they emailed me putting my rates up from 24th May. If they are bleeding so much money- why haven’t they put my rates up again?" ——— They "will". They warned you they will increase it by 100% on a daily basis. Believe it or not? There must be a "hidden" limitation that customers don't know, or you need to study the law from a 100000-page PDF.
Big companies won't suffer a huge loss and they will not be bankrupted because they are also managing generation facilities.
Small companies got a game over this time, but most of them have never offered a fixed term anyway.
Fixed-term plans are usually more expensive than variable rates, it is up to the customers. Do you want to pay more today, to cover the potential price burst in the future?
If you see a fixed plan, which is also the cheapest, then go for it now.
are they able to keep increasing prices 100% each day? sorry, not sure of the rules etc…
Not pretty sure about the actual rate increase. But the wholesale price is doubled in the past 3 days.
They are sending emails that "we will double the price" every day, but they have never sent the "price increasing notice". Believe it or not, make your own judgement. If you were the CEO, what would you do? The fact is that they will lose their annual profit within a week.
@GiftCardHunter: if they double the price its still cheaper than the other offers in my area. if they double the price every day I will not be able to afford the bills after a few days, bill would go from $100 per month to $6400 if they doubled the price everyday for a week? is this possible?
@wordplay: I don't think they will. They cannot even "double" it for the first time. In your case, just wait and see. You have 5 business days to transfer anyway if they actually doubled it.
But if you are paying the wholesale price (not possible for residential accounts), it is very likely you will get from 100 to thousands.
@GiftCardHunter: oh, going from 100 to thousands means they will put prices up 1000% thats quite a bit.
@Neytirix
You have made it clear that you're unhappy about the rate increases, however you are a very small fish in the pond.
Your statements regarding big/small are vague and I believe them and your language to imply that the current situation damages smaller companies disproportionately higher.
Big companies won't suffer a huge loss and they will not be bankrupted because they are also managing generation facilities
These "big companies" that manage generation facilities actually stand to lose the most in the current market situation. Their generation facilities would have sold energy futures to customers at cents in the dollar committing to provide power at say 10c/kWh, when the price of their power will sky rocket due to increasing price of coal/gas or whatever they're generating on. I am not across all the intricacies of generation plant ownership across the entire eastern states however it would be safe to say that the ratio of coal/gas generating plants to renewable plants stills wings heavily in "favour" of the dirty fuels.
Its important to highlight that dirty plants sell contracts in the futures markets to guarantee income to pay for maintenance and basically your minimum operating expenses. Think of this as the first 30 people on a A320 that pays the absolute minimum to make the ride "worthwhile". How much of their generation is sold into this market depends on the appetite for risk from the operating company. There is no limit to how far into the future you can purchase contracts for as its up to participating entities to decide but its not uncommon for contracts to fall within the 6-12 month range.
Based on the above, due to their exposure to the futures markets and the rising costs of fuel, I would put to you that the big companies stand to lose the most in this situation. They have committed to generating a particular amount of energy of which their input costs are increasing. They may have the bankroll to ride it through better than small entities but the scale of damage proportional to their bank balance is most likely higher. You would be correct to point out that the generators will also buy futures for their input costs (coal/gas) however transportation woes and production issues will hamper when they can generate which is also an important clause in the contracts, there's no point having a shipment of coal coming in 3 months time when you have 0 in your stockpile right now and you can't catch up with lost generation by just generating more down the track, not how power works :D )
Small companies got a game over this time, but most of them have never offered a fixed term anyway
as you mention, many didn't offer fixed term contracts and those that did should have covered them with contract agreements. Any costs incurred will be their exposure during the time between regulated price increases. They play a game of chicken now where they need to set their pricing high enough to cover the future (of which is uncertain) but setting it too high will mean you lose customers to other retailers.
Throughout this thread you are posting as a victim in this free market which is untrue. Although your scope to effect change is limited, you can make changes to your personal circumstances to reduce the impact to your wallet. The by product of increased pricing is that it hurts your hip pocket so you reassess priorities in your day to day activities. it changes the financial viability of many projects for both the positive and the negative. For example, more renewable projects will be viable now with increased market pricing and that solar system installed on your roof will pay itself off quicker. reducing consumption and increasing renewable energy uptake are both good for the environment.
Make no mistake, this is the cost of transition and everyone should be ready for a long ride ahead. The Carbon Tax would have accelerated this transition and had it been properly implemented. If it had not canned near its inception, it would have smoothed the financial cost now catalysed by Covid/Ukraine.
I don't want to change the world, the policy and the companies. As a tiny home business owner with an annual profit of only ~$100k, who is still struggling to buy a house, I only care about my profit, cost and expense, and this is why I would argue the $200 bill increase with ReAmped. However, I don't believe the generation cost has increased 1000%, especially for Australia which does not need to import coals. Nuclear energy is one of the solutions, but they rejected it, just because it is harmful to our health and the environment?
I am posting these comments because I am really angry that they never tell customers the "hidden truth" even if they are bankrupting, but only "Hypocrisy". The most useless words I have ever heard are "I am here to help.", "Do you need any help?", "I can help you", "You can seek support".
If they admit that "you, my customers, used too much energy, I am losing millions of dollars, please exit so I can survive". I will probably help a bit.
Anyone used nectr for solar?
I spend $50-60 a month should I switch? I live in Qld… single household.
Everyone should switch if they can get fixed rates lol.
Depends on what those fixed rates are. Some states like VIC have rules around how often retailers can vary their rates and how much notice they have to give. It isn't a certainty that a fixed rate will beat a variable rate in the long run, it depends on how long this situation lasts for, when and by how much the retailer varies their rates and what the premium is on fixing a rate (remember you're stuck with it for a full 12 months or have to pay a break cost, meanwhile the rates may be right back down again in a month's time.
what about NSW?
what are you personally doing @trotsky if you dont mind me asking? fixing it or not?
@tighttightass: I've just churned to OVO Energy (I'm in VIC) on a variable rate plan with the incentive offered by Econnex and I'm going to stay with them for a while because in VIC the only opportunity they have to raise rates is post 1st Aug, they can only do it once a year and they need to give notice. If I stay with OVO until at least 31 Aug I get the $171 cashback from Econnex plus a $75 bill credit (but it is apportioned month by month so that would be 3 months worth at that time), at that point I'll take stock of what's available and then move again.
The one raise per year in VIC really gives assurance, I can see the lay of the land once the most desperate retailers put up their prices, and anyone who I switch to who has already raised the rates, I'll know exactly what I'll be paying for the rest of the year, so it's basically a fixed rate anyway.
I'm not sure what the rules are in other states unfortunately.
Fairly certain Vic prohibits exit fees now. You may only have to pay back any sign up inventive.
It isn't a certainty that a fixed rate will beat a variable rate in the long run
In a normal situation I'd agree with you, but the projected price rises mean this isn't a normal situation. The increases are close to 50%. So it's almost certain ANY fixed rate (still available) would beat ANY variable ratea in the next few to 12 months, simply because you'd be fixing at YESTERDAY'S rates which are far lower than the expected increases.
After those projected increases most homes would be at least equal, if not in front, after paying a break cost after only a month or two.
And while it's not impossible, if anyone thought rates were likely to go down in a month's time, companies like ReAmped wouldn't be paying people $100 to leave.
We're quite some weeks into this now, with companies dropping fixed prices and others asking, even paying, customers to leave. So the sad hard fact is, anyone who sits on their hands and doesn't switch to ANY company still providing fixed prices (relatively close to what they were a month ago) IS going to pay a LOT more for energy. These aren't small 2, 5, even 25% increases that are coming… it's going to be nearly 50% for some.
So it's almost certain ANY fixed rate (still available) would beat ANY variable ratea in the next few to 12 months, simply because you'd be fixing at YESTERDAY'S rates which are far lower than the expected increases.
You're fixing at yesterday's fixed rates which factor in the volatility, and they're fixed for 12 months so that premium stays with you for 12 months. You're not stuck with a variable rate, you can move at any time to another provider, so for what you're saying to be right, providers must have miscalculated fixed rates horribly and must all be ready to move up their variable rates at the same time.
If that doesn't happen, people on variable rates can just switch to another retail provider. Might even pick up an incentive or two for doing it (like I did this time when I churned). That's much harder if you're locked in for 12 months.
Anyway, I and assumedly others won't be taking up a fixed rate so over the next few months we can see how that theory plays out. I don't expect that I'll be paying several times more for my electricity over these next few months, or years for that matter.
@trotsky: You seem to be coming from the angle the coming price increases are going to be minor, only a few cents difference between old and new pricing, when it's going to be many times that… so different in fact that ReAmped (and others) halted new signups and are paying existing customers to leave, knowing both existing and new customers on fixed price contracts will sink their business.
They will probably open fixed price contracts again later once they know their own new wholesale price that allows them to make a profit is known. But I'm sure I've seen articles warning a bill increase up to 47% is likely. And that's assuming prices increase only once in the months ahead. So fixing yesterdays rates today (with the couple of companies still offering them - if they even still are today) is going to be up to 47% cheaper than the new increased variable rates of tomorrow. If that wasn't the case, several companies wouldn't be blocking new signups.
If that doesn't happen, people on variable rates can just switch to another retail provider.
Sure people can wait, take up variable rates after the rise, then change between providers… but what you miss is, a rising tide lifts all boats. i.e. ALL companies are going to be lifted to the new wholesale price. NONE of them will still be offering the (up to) 47% lower prices of today.
It's like finding out the price of beef will definitely be increasing by 47% in the next month or two. So you look up how long beef freezes for and it's 4-12 months. So you decide to buy 6 months in bulk and freeze it. The few $ a week to run the freezer is much less than the increase. So this gives you at least some reprieve from the new prices everyone else will have to pay from day 1. After the rise, sure, stores will then vary by a couple of $ per kg. But that 47% cheaper price most hovered around today just won't be available anywhere.
And later, the nonsense may end, causing prices to fall again. But you still would have eaten beef (or used energy) for 6 months. You bought in cheap at $, then everyone else buying weekly paid $$$, so for 6 months you saved $$… and if the price falls it would probably only drop to where it was before - meaning you're no worse off… you just have a freezer full of meat (or a fixed price energy contract).
And if beef/power did somehow drop by 50% a few months later, the break fee would be worth it then, but it's far more likely they would have saved more than most people. So at the worst you broke even, at best you saved $$.
@[Deactivated]: It's not the same though, beef is not only able to have its price raised once a year as it is here in VIC and none of the big providers like Origin are going to make themselves totally uncompetitive for a whole 12 months over a short term wholesale price rise.
Some smaller operators will go to the wall, but your premise that there will be no better price option than locking for 12 months misses the point that they are already effectively locking the variable rate for 12 months here in VIC, so why would variable rates have such a big margin on fixed rates? If anything they will converge.
Origin
Peak Usage 22.671 c/kWh
Solar Meter Charge 6.70 c/Day
Supply Charge 112.904 c/Day
Solar export 20.00 c/kWh
That supply charge is a shocker! Which state / grid, mate?
SEQ ergon
end up making between $100 to $300 per quarter with solar.
From recent email update from RAE (earlier this evening):
As a responsible retailer, we want to make you aware of some things:
• Please note that you are not at risk of losing energy supply.
• We cannot change our prices until 1 August 2022 and, generally, price increases can only occur once a year. We won’t increase our prices without notice to you. Such notice will be given at least 5 business days before any increases take effect.
FFS! Why couldn't they have provided this information on Tuesday?
From Tuesday's update, it sounded like they would be increasing the price ASAP.
My RAE rates on the UE grid:
Anytime
$0.1768/kWh
Daily Supply Charge
$0.3929/day
I feel like I should cancel my switch to Lumo, and take the hit in 2 months time.
Because you're in VIC. Not every jurisdiction has these limitations.
In other states, can energy companies change the price more than once a year?
Looks like they can. Otherwise, you can report to them that they tried to threaten customers to leave with misleading information, and then they will get a fine of millions of dollars.
Keep in mind that depending on when your new month begins, it can take a few weeks to be switched. e.g. I switched to nectr on 31st May. But their welcome email says I won't actually be switched until 30 June.
Keep in mind that depending on when your new month begins, it can take a few weeks to be switched
Keep in mind that arcane practice doesn't apply to us in VIC with smart meters. :)
I will be switched over within 1 - 3 business days from sign up.
Keep in mind there's more states and territories of Australia represented here than Dictator Dan's version of North Korea. ;-D
What did you end up doing ? I'm still in my 10 day cooling off period
Anyone got the Origin link which gives 20k bonus points (only for Electricity)? The one I got shows 20k on screen, but only 10k when I proceed.
What's the best way to sign up with Origin to lock in a fixed rate with them?
Yeah i find it is random… When I signed up for elec on Origin Go (from the main page) it showed 10k right thru the sign up. But now I try to replicate it only shows 5k.
Same with gas when I tried yesterday.
I also just saw a points booster in the Woolworths Rewards App. 20,000 points for elec and 10,000 for gas.
For those looking to switch, Shopback have increased their cashbacks
https://www.shopback.com.au/compare-electricity-gas
Cashback Rates
New Gas & Electricity Signups
$171.00
New Electricity Signups
$120.00
New Gas Signups
$70.00
Reamped still cost less than everywhere else. When are the prices gonna jack?
The info isn't clear - I've heard next week, 1 July, and 1 Aug.
I agree it's still cheaper with them - If it's 1 Aug I will stay, but can't seem to find anything in writing.
If you're in Victoria, it's illegal for them to raise prices until August 1. Then they cannot raise them again for a year.
FWIW don't pretend to be an expert - but as a ReAmped customer I thought I'd have a look into the wholesale national energy prices that another user kindly uploaded: https://aemo.com.au/en/energy-systems/electricity/national-e…
I'm in NSW, on Essential Energy network (crazy highly daily supply charges, $1.50+/day!).
Reamped's urging to leave was a concern but I thought I'd look into the price trends, it's a cold patch at present but Winter is well off as is an end to the Russian invasion of Ukraine (go UA!).
For NSW - go to AVERAGE PRICE, MONTHLY and you can see the May 22 price was nearly triple what it was a year ago. And though very early JUN is more than triple a year ago. So there's a real trend there. And it's currently nearly $550/MwH, which is 55c/kwH - and thats wholesale pricing - so well above even the most expensive plans on market.
So I concur with others who have said to grab the best fixed price plan you can - atleast until prices stabilise back to 'normal' levels. For me this was the Red Energy, Living Energy Saver. It was very hard to find ANY other plans where the rates were truly fixed.
Don't be fooled by suppliers saying it's a fixed contract period - that DOES NOT mean the rates are fixed, just the benefits/discounts on whatever the choose to make the rates.
Other states seem to have mechanisms in place to protect consumers from price jacking on power but NSW does not and so I'd strongly urge folks do your research on what applies to you. I did use the link to Finder that Reamped provided - small benefit if nothing else, couldn't do better through Shopback as they only gave me a paltry 4 electricity options for my location (whereas the NSW Govt one gives me well over 50+).
Don't pretend to know it all but if the average wholesale price for last month in NSW is well above all the rates on my current plan (I have a smart meter and CL1) then there is certainly a very large increase coming as soon as the current supplier can do so - simple economics. Hope that assists but I felt as there was only 1 true fixed rate on the market I could find - grabbing it before it was pulled (as I highly doubt it will stay there for much longer given that again ALL it's rates are below the average prices for last month and well under this month) seemed a risk mitigation move. Plus it's a no contract plan - so IF things magically get better, move off it whenever you like and go back to whoever is cheapest. Hope that helps someone. :-)
Thanks for the detailed reply.
I'm with ReAmped and got the same email from them - Red Energy seems to be the best option, except that one user commented on this thread that they have a clause (23.2) in their Customer Charter which allows them to change your contract if the increased price is passed on to them.
Are you not bothered with that? What if Red Energy's price increase is just around the corner?
Appreciate your reply.
Seems somewhat odd that their rates can be loudly promoted by them (Red Energy) as FIXED, if they're also reserving the right to change them - seems very contradictory. I would assume that the 23.2 clause pertains to their other rates, which are all 'variable' - and is more of an indistry standard type approach.
I'd look at other industries like banking where fixed interest rates are exactly that - so I'm relatively confident thats the case.
This aside, at present consumers really don't have a lot of options - even fewer if you're like myself somewhat rural. So I think it's more a case of chosing the best current provider, re-evaluating this come the 01JUL price increase date (apparently an industry standard thing) and otherwise just focusing on either limiting your energy consumption or being smarter with it i.e if you have a smart meter trying to do intensive usage tasks in offpeak times. :-)
Thanks Nikko & I agree with what you said:
* The trend is real.
* "Fixed contract period" ≠ "fixed rate".
* NSW has no lock in place protection from gov (of course they don't, not a surprise).
Also from my research, those that signed up with AGL Value Saver or Alinta HomeDeal are unfortunately not fixed (yes, I called both places & waited 30mins each to ask this simple question. I also read both their T&C's).
They are "fixed contract period" as in "if the plan is 17% less than reference price, that part will be fixed for X period."
The only decent fixed plans in NSW I could find was:
Hope that helps the OzB fam!
We have had our electricity through ReAmped and have been told to transfer to another provider. We live in SEQ. Anyone know of a good deal? We have electricity and gas.
do you have a fixed price contract? stay. you won't get a better deal at the moment, they would be advising you go to because you're costing them money. if they want to break the contract, let them be the ones to do it.
Have a look at this article in regards to the ACT: https://www.abc.net.au/news/2022-06-06/why-arent-canberrans-…
Anyone know how quickly Red Energy take to process signups if done through a comparison site? Used Econnex over the weekend as got a solid cashback deal through my employers rewards portal, but haven't received anything from Red Energy yet.
I understand they're probably getting smashed but really don't want to miss out on the fixed rates (NSW)!
Red Energy seem to be in the process of switching me over now, I signed up on Thursday.
I'm in NSW, Endeavour Energy grid.
Ummm it's not cheap?
Supply = 77.00 cents/day
Usage = 52.80-56.10 cents/day
https://www.energymadeeasy.gov.au/plan?id=GLO394558MRE&postc…
Billing and price details:
Prices are not fixed
Anyone else signed up to Alinta via Econnex?
I applied on the 31/05/2022 and received a thank you email from Alinta on the 01/06/2022.
Haven't heard anything from them since. Wondering if I should can them and go with someone else.
Any fixed rate provider recommendation for NSW Sydney?
Reamped rates increased by around 20% but still the cheapest.
Yep, also looking for a fixed rate provider recommendation for NSW Sydney.
Gee 'Finder' are annoying. Did all their online switch over stuff - and yes like typical 'we'll find you the BEST deal' sites they do anything but this - giving only a handful of options that are generally not the cheapest but rather the cheapest ones willing to give them a commission/fee for landing you.
That should be it all done but just got called by some whiney little chap who proceeded to try and go through the ENTIRE exercise all over again - when I told him,"I've done all this online - if you have anything new to ask me or tell me great but otherwise like you I'm working." he got his panties in a knot and hung up on me
I'm loathe to use these types of services as it's not that hard to do yourself and only did so for the $100 WW gc via Reamped but gee what a bunch of amateurs.
I told the whiney guy that I didn't use Finder and I'm not interested in changing provider right now. He wished me a good day, and hung up.
I'm with ReAmp'd.
FROM -> TO
Daily Supply $0.6437 -> $0.6988
Charge Unit Charge $0.1721 -> $0.2216
I will look around today.
have their revised their rates? Where are you based? In NSW this may still be cheaper than the rest of retailers who will have their rates revised in July
I got an ad on YouTube from reamped to switch. They must be set to lose a bunch of money if people don't switch
@Luke Blincoe, mate if you are reading this… I am not going to switch for $100 WW eGC if it means I have to use a loathsome site like Finder.
Just use a referral code and it’s $50 each, sign up another friend to make up the difference
They have stopped new sign ups. The join page simply goes blank.
Red energy?
Did Tango just remove all of their Victorian energy plans, except for the Default Offer?
Only one left is "Tango Blue"
Yeah, Finder seem like a very amateur operation - online signup to another provider (paltry choices but atleast there was one true fixed price option, Red Energy Living Energy plan) - then a seemingly needless hassle phone call from them - which they could not explain why they were doing.
Then despite me having had a Smart meter for nearly 3 months they sent out a guy to read my meter (which is a PITA as I live on a gated rural property) - which left the guy who showed up as confused as me.
Then today they email me saying they can't find my NMI - which I emailed to them immediately, and they then responded by saying,"Yeah we already have that - we're on it." ???
Like many others I am searching for a fixed rate electricity provider in Sydney, NSW.
From my search, I can't find a single electricity provider that does fixed rates. Even Alinta, which everyone seems to be swapping to, gives no mention at all of fixed rates.
Are there any fixed rate providers left?
We live in Victoria. Was looking at Q Energy initially then they pulled their fixed offer. Then looked at Tango and it seems their fixed offer went up in price and they were pulled from the econnex/shopback offer. Ended up going with Lumo as it was the next cheapest that was available with a rebate via the econnex/shopback offer (Lumo Value - 19.272c/kWh, 74.8c daily supply charge).
Red Energy mate, I switched
i also received snail mail today telling me to switch
If you are in Victoria, they cannot bump up their prices until the 1st August 22