Energy retailers asking customers to leave

[Leeroy]

I know there are a few on here with re-amped (like myself) so thought people may interested to know they are actively steering people away right now.

ReAmped customers are currently better off with another provider

 

[BCTS]

I had similar messages/emails from Electricity in a Box over the weekend also.

 

[moa999]

Wow..

So basically they are saying everyone else is underpricing given current wholesale rates.

 

[Craig 128]

My understanding the following retailers have withdrawn offers from the QLD and NSW markets:
(This list was for Thursday and Friday last week, so its possible there are extras this week)
I note posters above are in Victoria, so its possible they have withdrawn from the Victorian market as well.

Bright Spark Power
CovaU
Electricity in a Box
Elysian Energy
Future X Power
GEE Energy
Glow Power
Locality Planning Energy
Mojo Power
People Energy
Pooled Energy
Powerdirect
QEnergy
ReAmped Energy
Smart Energy

They are probably now trying to work down the number of customers they have in those areas.

Pooled Energy has appointed Administrators.

 

[cafz]

Wow..

So basically they are saying everyone else is underpricing given current wholesale rates.

Yes, fixed retail tariffs are expected to rise substantially in the next month or so. Lock in a good rate now if you can.

 

[OzMaximus]

AGL EV plan looks promising (VIC Ausnet)
Might sign up with AGL
Reamped was good while it lasted

 

[maxkonji]

Yeah got the same
Website wit other providers lists another QLD provider as cheapest at 18c flat rate
Jumping from one bucket to another?

For those that have solar any recommendations for suitable providers at or less than 20c?

 

[doggy1]

My provider has hiked the rate 39% so I am also looking around. AGL does look attractive, but their EV plan was set in January this year so I expect the price is going to be hiked quite soon. That's the problem with shifting now- some have drastically raised rates but those that have not will surely do so before long. I hate the fact that so much of our electricity network has been sold off and that we have this layer of retailers all (reasonably) wanting to make a buck. Too many layers, too many owners of the various moving parts, too many profits shifted overseas.........

 

[Leeroy]

There are a few fixed plans floating around. I just fixed with tango for 12 months at 20c. It’s dearer than reamped for sure but it’s the next best to what I had

 

[cafz]

That's the problem with shifting now- some have drastically raised rates but those that have not will surely do so before long.

If you move quickly, there's a few retailers that will lock in a rate for 12 months. Is the Red Energy EV plan available in your area?

 

[doggy1]

Yes, Red Energy EV available in my area but from what I see the rate is not fixed. But it's better than what I have at the moment. Investigating further....

 

[PC__LoadLetter]

I could never sign up to Red Energy (Snowy Hydro) after what they did last May. Despite being government-owned, they kept their Colongra gas plant offline (i.e. bidding it into the market at the maximum price of $15000/MWh), while I was on Amber paying dollars per kilowatt hour. That's bad enough if you're a private company, but government owned? No. Just no.

Small retailers welcome investigation into Snowy gas plant bidding practices

Smaller energy retailers welcome ACCC and AER investigations into potential market gaming by Snowy Hydro gas plant.

reneweconomy.com.au

Despite my better judgement, I moved from ReAmped to ACTEWAGL today.

 

[ENORYM]

I was with ReAmped as well.

Signed up to Tango today with a locked in rate Gas & Electricity for 12 months.

Distributor: AusNet Services
Daily charge (¢/day) 99.000
Peak rate (¢/kWh): 0.2772
Off peak rate (¢/kWh) 0.15400

(Ausnet is the most expensive to be with in Melb unfortunately, but these are locked in for 12 months and I can leave anytime so best i'm going to get)

Peak consumption – Every day, 3pm - 9pm
Off-peak consumption – Every day, 12am - 3pm; Every day, 9pm - 12am

I don't mind these Peak & Off Peak times either.

 

[Craig 128]

I could never sign up to Red Energy (Snowy Hydro) after what they did last May. Despite being government-owned, they kept their Colongra gas plant offline (i.e. bidding it into the market at the maximum price of $15000/MWh), while I was on Amber paying dollars per kilowatt hour. That's bad enough if you're a private company, but government owned? No. Just no.

I believe It may have been a direction from a Shareholder Minister. It was the week of the Bi-election and Liberals were desperate to spruik their new gas plant, that both AEMO and AER said we didn't need. He had asked heads of AEMO and AER to modify their reports to say it was needed, and when they both refused, he told them to resign. Good thing both held their ground. So then he had no choice but to create an artificial shortage of Electricity to prove the white elephant was needed and that AEMO and the AER was wrong.

A change of government means Snowy now has different Shareholder Ministers. Hopefully we will get an ICAC too so this type of behavior (corruption) is discouraged.

 

[meloccom]

Moderators note:
I updated the thread title to better reflect that a number of energy retailers are asking customers to leave, not just ReAmped Energy.

 

[louco73]

I was with LPE in QLD. They had good rates at the apartment I rented when I moved back to Australia and their call centre is on the Sunshine Coast with helpful people. When I moved into my house I continued with them and found them competitive. I've now switched to AGL on their recommendation. 15 kW solar inverter limits my FIT, so I missed out on the better AGL plan.

 

[PC__LoadLetter]

I believe It may have been a direction from a Shareholder Minister. It was the week of the Bi-election and Liberals were desperate to spruik their new gas plant, that both AEMO and AER said we didn't need. He had asked heads of AEMO and AER to modify their reports to say it was needed, and when they both refused, he told them to resign. Good thing both held their ground. So then he had no choice but to create an artificial shortage of Electricity to prove the white elephant was needed and that AEMO and the AER was wrong.

That isn’t my recollection of the timeline. And it isn’t how the story went during the senate estimates hearing.

“We have to make sure that we preserve and manage our financial position. Quite frankly we’re not in the business of managing somebody else’s customers’ financial business,” Mr Whitby said.

Government-run gas plant sat idle despite soaring electricity prices

Plans to build a new $600 million gas plant are being questioned after Snowy Hydro revealed it isn't making full use of its existing gas plant.

thenewdaily.com.au

 

[Craig 128]

That isn’t my recollection of the timeline. And it isn’t how the story went during the senate estimates hearing.

The Upper Hunter by-election was held on 22 May 2021. Your link makes reference to market manipulation on the 17 and 18 May. I think its the same event. The gas plant in question is to be built in Kurri Kurri, in the Hunter Region.

Four Corners: What’s behind Australia’s push for gas-fired energy

Taylor reportedly put pressure on Schott and Zibelman over gas plans

ABC Four Corners program says Taylor’s office pressured Scott and Zibelman over their failure to embrace his pro-gas policy.

reneweconomy.com.au

Sorry, you are right - It wasn't the Chair of AER, but The Energy Security Board (Dr Kerry Schott) that was pressured to resign. Dr Schott along with Audrey Zibelman, Managing Director of AEMO.

 

[Nobody Famous]

AGL EV plan looks promising (VIC Ausnet)
Might sign up with AGL
Reamped was good while it lasted

I'm on AGL EV plan where rates are fixed for 24 months, but no exit penalty. I have Single Rate +CL1 on Endeavour Energy NSW. I'll probably just roll over as haven't found any better.

New Rates:

Current Rates:

Most rates have reduced and still include a $60 per quarter rebate which close to cover the supply charge. A bit of a tick up in Controlled Load, but looking to upgrade to a heat pump via NSW ESS that expanded to Hot Water in April 2022.