Why are prices changing? Impacts on prices

Why are prices changing?

What has impacted this price change?

The two greatest impacts on prices for customers in NSW, QLD and SA are wholesale and network costs and in instances where these prices have decreased, where we can we have passed these savings to our customers.

Are my prices going up or down?

We’ve reviewed our prices and where we can passed on savings to customers and for most of our customers, this change will see a decrease on their electricity bills. However, this change is dependent on your individual usage, distribution network and state.

To see what this means for you and your prices, you can log in to your Powershop account to see your existing and new Auto Pay rates.

Are my discounts changing?

This information is only applicable to Powershop customers who have access to Powerpacks:

From 1 July 2020, we’re reducing the percentage discount Powerpacks give you off our Auto Pay rates for our NSW, SA and QLD Powershoppers.

Why?

From 1 July 2020, there are new requirements on how we calculate our discounts; this has resulted in us having to adjust the discounts on our Powerpacks.

What does this mean for you?

We still want to encourage our customers to remain engaged with their energy bills, access extra savings and to offer flexibility to help manage budgets and energy usage, so we will still have discount Powerpacks in the shop. However, the discount Powerpacks give you off your Auto Pay rates will change from 1 July 2020.

Powerpacks will be available for you to purchase at the current discount until 11:59pm on 30 June 2020. The discounts secured via Powerpacks before 11:59pm on 30 June 2020 can be applied to your account for your usage post 1 July 2020. Following 1 July 2020, all Powerpacks will still be available in the shop, just at the new discounts.

Impact to GreenPower prices

From 1 July 2020, it will be more affordable to purchase GreenPower to support renewable generation as GreenPower prices are decreasing across NSW, QLD and SA.

This is due to a reduced cost in Renewable Energy Certificates, which has allowed us to pass on this saving to customers who choose to purchase GreenPower.

Since GreenPower’s inception, more than $1 billon has been voluntarily invested in the renewable energy sector and as Australia’s Greenest power company, we’re committed to supporting a greener future and making it more affordable and easier for our customers do the same. You can read more about GreenPower and how it works here.