Momentum Energy Upped Rates and Launched a Cheaper Plan

Bugishere on 31/08/2023 - 16:24
Last edited 31/08/2023 - 16:48

I got an email from Momentum Energy on the 24th of July saying my rates were going up. To be expected…we all know that gas prices have gone up. But this is where it gets cheeky.
In the body of the email it said:

You’re already on the cheapest plan
We compared the estimated annual cost of your Self Serve Gas plan on your new rates and charges to our other plans from 1 August 2023, and you’ll already be on our cheapest plan.^

If you’d like to compare your plan with other retailers, visit Victorian Energy Compare – compare.energy.vic.gov.au.

But then… I get my latest bill, on the 18th of August where it says….
Could you save money on another
plan? Based on your past usage, our
Nothing Fancy Gas plan may cost you
up to $300plus (GST incl) less per year
than your current plan.^ To switch to
this plan for your future energy needs,
log into MyAccount or visit
momentum.com.au/productswitch

Go figure … How sneaky is that… suck you in, tell you there's no option and then bam…. we charge you extra coz your a sucker.

I'm pretty pissed off at the sneakiness. I reckon the ACCC would be interested in this one…The ok news is if you kick up a fuss they'll offer you the difference back or $50

Home & Garden Electricity Energy Supply Gas Supply

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Comments

  • bobokingdom on 31/08/2023 - 16:30
    +1

    $3 savings …most likely it is just some kind fo calculation error (round up and round down type).

  • brendanm on 31/08/2023 - 16:34
    +2

    Don't spend your $3 all at once bro.

  • Bugishere on 31/08/2023 - 16:45

    Sorry…the syntax has blocked it out its $300+ but i removed the figure so they cant link it back to me

  • non-core promise on 31/08/2023 - 16:47

    Nobody is pointing a gun at your head saying you have to stay with Momentum Energy.

    You're a participant in a free market. Take advantage of it or stop complaining about the loyalty tax.

    If you really feel strongly about this, remember to vote for politicians in favour of more regulation or even outright renationalising electricity if it ever comes up (it won't).

    • Bugishere on 31/08/2023 - 18:27
      +1

      I'm well aware and I will be switching… I thought it was worth sharing for the community and because whilst I like to have a go at working the system I don't think it's right when retailers are ripping the little guy off.

      • jv on 31/08/2023 - 23:43
        +1

        are ripping the little guy off.

        What does someone's height have to do with it?

  • Ryanek on 31/08/2023 - 16:56

    I mean if they're legit trying to trick you why would they bother suggesting a cheaper plan?

    It's also possible the Nothing Fancy Gas plan was updated after your email.

    • Bugishere on 31/08/2023 - 20:23

      They're legally obligated to

  • JEHarris on 31/08/2023 - 17:26
    +1

    So I just checked my EnergyAustralia prices because they went up 1st August and I was reasonably shocked to see that in my account dashboard I could switch to another 'plan' with the EXACTLY the same name but with much lower rates. Why was this rate not applied? I didn't get a straight answer from Energy Australia, only "We told you it was changing".
    It is the 'Flexi Plan (Home)' that I am referring to. So watch out for this if you have it, its worth checking your account.
    I'm probably losing out ~$100 but thought I would post to make others aware of this.
    Yes they did warn me, but it seems quite misleading to have multiple 'plans' with the same name and/or not outline the options better.

    • Guybrush57 on 31/08/2023 - 18:08
      +2

      The two plans have the same name in the dashboard but in their system's backend your current plan is known as the "Bend Over" plan.

      • JEHarris on 31/08/2023 - 18:20

        Hahaha yeah pretty much. Yeah its annoying because ive been a long time customer on some great rates, then bam.
        Looks like its the pool that will suffer for next 10 days to try to offset it.

        • Bugishere on 31/08/2023 - 18:26

          Same story pretty much with Momentum…I know everyone is excited about Qantas at the moment…but this seems far worse and if all the retailers have done this it is likely to have much greater impact.

  • Daabido on 31/08/2023 - 20:00
    +1

    Loyalty is for family (most), friends (very select few), and pets (all).

    • jv on 31/08/2023 - 23:44

      …and football teams.

  • Crippler on 31/08/2023 - 21:02

    Twp thoughts on how the process may have happened that would leave you with this issue:
    * They launched a product between the 24th of July letter and your bill on the 18th
    * You had a spike in your actual usage with your read from the 18th of August. So when they're guesstimating your bill, you've moved from being a small user to being a large used.

  • netjock on 31/08/2023 - 23:49

    Yes, same issue with lumo. Notified of rise in Electricity rates, recently compared and there is a lot cheaper market offer.

  • JIMB0 on 01/09/2023 - 03:20

    Wow, energy companies using dodgy tactics, knock me down with a feather.

  • MelbEng on 01/09/2023 - 09:44

    More than likely, they introduced a cheaper plan after July 24. As per the regulations that have told you about on your next bill. In this case, 25 days after your previous bill.

    Energy companies would be changing and introducing new plans all the time.

    I don't understand what your complaint is. Did you want to be told the day the new plan was released?

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