Radian Energy - "We Suggest You Start Looking For a New Energy Retailer"

rossgeller on 04/06/2022 - 14:04
Last edited 04/06/2022 - 14:06

Radian Energy, a energy retailer that was offering decent rates up till a few days/week ago, as they stopped taking new customers after ReAmped told their customers to leave, seems to have sent a email out to some customers asking them to leave and look elsewhere, or face higher rates on the 17th. This is starting to look like a trend, as they also are offering $100 Woolies vouchers to their customers to leave.

Screenshot of Email posted on reddit
Reddit Post

What would this mean to there most recent customers who signed up in the last few weeks? From what i understand they were offering fixed price for 12 months.

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radian.com.au
radian.com.au

Comments

  • PensionerXXL on 04/06/2022 - 14:56
    +8

    shoutout to them for being straight up about it

    • orangetrain on 04/06/2022 - 16:32
      +6

      Energy retailers have a lot of fixed plan customers that they can't service any more as prices rise. It's practically a massive loss for them if customers stay. Advertising, vouchers, etc are a way to cut the losses.

      They are not exactly straight up about it because if they were, and you are on a fixed plan, you would save A LOT of money over the coming months.

      They're hoping fixed plan people will leave.

      • rossgeller on 04/06/2022 - 17:24
        +2

        As far as I know, Radian might have only sent this email to customers who aren't on fixed price plans. If they sent it to people on fixed price plans, that would be concerning.

        • orangetrain on 04/06/2022 - 17:41
          +2

          They have to send it to everyone because fixed plan people would say "Hey, I'm being warned to leave" and variable electricity customs go "Hey, I didn't receive no email…". Then suddenly a lot of fixed plan customers would realise what's going on AND STAY.

  • rektrading on 04/06/2022 - 15:10
    +8

    There is nothing to worry about.

    Everything will be 👌 as long as people keep buying $1M homes and $85,000 cars on finance.

    A few more price hikes won't 🤕.

    • Danstar on 04/06/2022 - 15:47
      -1

      BuT sOlAr anD wiNd

    • rossgeller on 04/06/2022 - 17:18

      Just steer into the skid! Suppy side economics works!

  • pharkurnell on 04/06/2022 - 16:27
    -1

    What would this mean to there most recent customers who signed up in the last few weeks?

    Dunno, ask em.

    • rossgeller on 04/06/2022 - 17:19

      I did, There response was "You made a good choice to switch when you did". Might be true, but a lot of us are looking for some certainty at the moment.

      • orangetrain on 04/06/2022 - 17:40
        +1

        That makes no sense. Your electricity is provided by wholesalers who are big electricity producers. The middlemen who go bust? Well, you can easily switch to a different middleman.

        Best to stay unless you're on a variable plan.

        • rossgeller on 04/06/2022 - 17:54

          Well the middlemen are all raising there prices, and if the middlemen who are loosing money honoring contracts, well you wonder how or if they can sustain that. Even if they are legally obligated, surely there is a point where they try and break it from "extreme, unforeseen circumstances" Then you are looking at finding a new retailer in a different, more expensive market.

  • orangetrain on 04/06/2022 - 16:33
    +8

    Don't use finder or similar. I've found that those plans are FAR more expensive by hundreds. Even cashback, you'll pay hundreds more. I even found reamped to be cheaper than using those private comparison sites!!

    Use energy made easy government site.

    If you are already on a fixed plan. STAY. You'll only end up paying hundreds more if you switch.

    • rossgeller on 04/06/2022 - 17:20
      +5

      Good advice, particularly now that most plans on energymadeeasy.gov.au seem to be variable now.

      • donga100 on 04/06/2022 - 18:22
        +2

        I changed yesterday to Energy Australia No Frills plan which is fixed for 12 months. $70 cashback through cashrewards + $25 online sign up bonus too. It had the cheapest rates for me (Brisbane) out of all the fixed price plans. The only exception was the AGL EV owner plan but they require you to provide the registration details of the car in the same name as the electricity account so couldn't get around it.

    • Brodo Faggins on 05/06/2022 - 22:33

      That's true Finder is only offering specific plans, most of them being variable.

      However, I have compared Finder's Red Energy fixed rates in Finder's T&Cs, and it worked out to be exactly the same as Red Energy's fixed plan on their website..

  • Gekov on 06/06/2022 - 10:25

    HMMM …

    Questions …

    1) How close are we to large scale grid failure? I guess this could easily happen after a few winter days with no wind. And certainly after the next coal.power station is destroyed.

    2) How close are we to it being economical to generate electricity at home with a diesel or LPG (propane) generator or one powered by natural gas?

    3) Is there no one with any influence on government that has any clue what’s going on? Are professional engineering and scientific organisations too terrified to speak out?

    4) The grid is being saved somewhat by the deindustrialisation of Australia plus load shedding from shutdowns of aluminium smelters.

    • rossgeller on 06/06/2022 - 17:30
      +1

      re 2)
      Gas and petrol aren't exactly cheap right now either, and i would say it wont ever be economical to do that, outside of emergency or off grid use… And its already economical to generate electricity at home with solar, and batteries are even more relevant now for storing solar for use when the suns not around.

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