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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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8 comments on "Good news! Powershop drops prices in NSW and South East QLD"
  1. Paula Bradly, 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, 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

  2. James Kalantzis, August 11, 2018:

    Yes you have lowered your rates but you also dropped the standard discount from 18% to 12% and provided this reason to me “we are trying to make industry wide changes to remove big discounts”. How does that make any sense ? If that’s what you were doing you would lower your rates to be competitive and provide 0% discount. But instead what you have done is lost me as a customer (switched last week) because although I was receiving a better rate I was actually worse off because I was receiving a lower discount.

    • Powershop, October 16, 2018:

      Hi James, we’re really sad to see you go. Previously we calculated discounts from the Base Rates pack. Now that Base Rate packs are gone, we calculate your discount off the Auto Pay pack. As the Auto Pay rates are already competitive, when you add a discount (which you do when you buy any of the other Powerpacks in the Shop) you still achieve great discounts. Yes, our rates are now lower, so discount percentages we’re adjusted to ensure you were still receiving the same discount in relation to the rate. If you’d like to talk with the team about this further please feel free to email us on info@powershop.com.au. We’d be more than happy to help.

  3. Jo, August 21, 2018:

    So you have lowered your usage rate but jacked up your supply charge, and at the same time, lowered solar FIT by a whopping 2.7c, a 22% decrease, and also slashing your powerpacks discount by about 3% each (bulk pack/mega pack used to be 18%).
    And yet you are advertising you have lower your rate for your customers, boarderline misleading.

    • Powershop, October 17, 2018:

      Hi Jo, we understand your concerns – previously we calculated discounts from the Base Rates pack. Now that Base Rate packs are gone, we calculate your discount off the Auto Pay pack. As the Auto Pay rates are already competitive, when you add a discount (which you do when you buy any of the other Powerpacks in the Shop) you still achieve great discounts. Yes, our rates are now lower, so discount percentages we’re adjusted to ensure you were still receiving the same discount in relation to the rate. 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). 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 benefiting. If you’d like to talk with the team about this further please feel free to email us on info@powershop.com.au. We’d be more than happy to help.

  4. Tony, September 7, 2018:

    Hi interesting comment re solar prices coming down as I have just had my solar increased from 10 to 14c per unit and another has quoted me 20c.
    Your comments please.
    Cheers

    • Powershop, October 16, 2018:

      Hey Tony, sorry for the delayed response – sounds like a good quote. We’d be more than happy to chat through further, feel free to give us a bell on 1800 462 668 Monday to Friday AEDT 8am-7pm.

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