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Good news! Powershop drops prices in NSW and South East QLD

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Good news! Powershop drops prices in NSW and South East QLD
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25 June 2018

Have you heard the great news? We’ve dropped our prices in NSW and South East QLD.

Thanks to our growing customer numbers, our group has recently invested in hydro and more wind energy generation to meet their energy needs, which has meant we’re able to buy energy at below current wholesale prices – and since wholesale prices have decreased in recent months as well – we’re able to pass these great savings to our loyal customers.

We dropped prices for all our Victorian customers earlier in the year and now we’re dropping them in NSW and South East QLD by around 3% and 8.6% on their total bill. That’s around $47 and $140 per year on average – proving that renewable energy can lower prices for consumers.

We hope this brings some welcome relief to individuals, families and businesses. We’ll continue to work to make the energy industry fairer more transparent and more affordable for our customers.

What are some of the things we’re doing to help keep prices down and do right by the planet?

Well, other than purchasing three hydro power stations and signing agreements to purchase energy from renewable projects in Victoria and NSW – allowing us to purchase energy at below wholesale cost and more effectively manage risk in the market so we can offer our customers cheaper prices – we are…

  • Facilitating community energy installations across Australia (and soon, the world) – We help our customers contribute to community energy projects thanks to our Your Community Energy program. Thanks to our customers throwing in a little bit extra when they pay their bill, we’ve been able to raise almost $420K to contribute to community energy projects with over 15 projects across Victoria and NSW. Check them out here.
  • Partnering with innovative Australian companies – Grid Impact is our Virtual Power Plant for Powershop customers with Reposit technology. We pay our customers for allowing us to active their solar batteries at certain times when demand for electricity is super high. Learn more.
  • Participating in an industry leading demand response program – Curb Your Power aims to help manage high demand on the grid (like in the middle of summer when everyone’s pumping their air-con) by paying our customers for using less power. The alternative to a demand response program is spending exorbitant amounts of money on upgrading the grid so it can handle peak demand times (and that cost would eventually end up on your bill). Read more.

Do you want to help us drive the cost of power and emissions from dirty energy even further down?

The more people who switch to Powershop, the more we need to invest in energy sources to meet the energy demands of those customers. And since we only ever invest in renewable energy, the more customers we have, the more we can support renewable energy in Australia!

If you’re a Powershop customer and you switch a mate to Powershop, you and your mate both score $75 power free! Plus all the good vibes knowing that you’re supporting a better energy company. Start switching your mates now.

 


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2 comments on "Good news! Powershop drops prices in NSW and South East QLD"
  1. Paula Bradly commented on July 26, 2018:

    Yes you have lowered the rates but you have also lowered the feed in tariff and back dated that drop by a month. Back to the date of my change over. Now the FIT is lower than the company I changed from. Really I have lost faith in you as the green energy company

    • Powershop commented on July 26, 2018:

      Hey Paula, we understand that you’re disappointed that the FiT has changed since you signed up. Because the wholesale cost of energy has come down, so have FiTs (this is across the board, a lot of retailers have lowered what they pay for solar). How are FiTs related to the wholesale cost of electricity? If we pay you more for the solar you generate than what we pay for energy from the grid, then electricity rates for all our customers – not just solar – would go up to offset the cost. Remember that we charge solar customers the same rates as non-solar, so everyone is benefitting. There is a really good explanation on page 9 of how this works in this report from IPART (who set the recommendation for NSW FiTs) here. Happy to get in touch if you have any other questions. Cheers! Lauren

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