Flybuys sent me as well as probably a lot of others an offer for free power on Saturdays + 10,000 Flybuys points (no contract, 12 months only for discount). So is it a good deal?
I've broken down the deal for my rates based on an older bill.
So my 1 bill was $476.31 (ex GST).
| Item (87 days usage) | Rate | kWh | Ex GST |
|---|---|---|---|
| Controlled Load Usage | .1675 | 500 | $83.76 |
| Off-Peak | .1706 | 657 | $112. |
| Peak | .2848 | 693 | $197.50 |
| Supply Charge | .9546 | $83.05 |
I then get 12% for paying on time. $419.15 after discount (excluding GST for simplicity).
On this AGL offer,
| Item (87 days usage) | Rate | kWh | Ex GST |
|---|---|---|---|
| Controlled Load Usage | .1491 | 500 | $74.55 |
| First 1020 kWh | .2228 | 1020 | $227.58 |
| Thereafter | .2333 | 330 | $76.98 |
| Supply Charge | .9979 | $86.81 |
Total 465.92.
So both totals are very similar.
Assuming your electricity usage is even for 7 days. Dividing 1 by 7 gets you 14.3% off. Weekends will probably be a bit more than average weekday usage so you could even push it to 20% off.
At 14.3% off that brings it to $399, $20 cheaper than what I'm paying now.
20% off is $372.73.
I guess the big question is can you move more of your electricity costs to Saturday (washing machine, dishwasher etc.)?
The second issue is AGL actually reading Saturday usage and removing or are they making assumptions?
The Charges above are based on information available to us about your meter, network tariff and location, or assumptions necessarily made where information is unavailable.
With a smart meter you would think they would just read Saturday readings?
Go through with your figures and see if it works out with you. Also, 10,000 Flybuys is worth $50.
Based on your analysis it sounds like an OK deal. Do you lose the 12% discount for paying on time? (btw, that is a massive discount for doing something you should do anyway haha).
If so then you're swapping a guaranteed 12% discount for a uncertain 14.3%.
You can try and shift some of your consumption to Saturday, but energy guzzlers tend to be running all the time (eg electric hot water if you have it), or is something you use everyday (kettle, toaster).
If you were going to alter your usage you could try doing your ironing on Saturdays, plus all the washing,. but I don't think there is much else you can do (run your ac + heater all day?)
I would look at my bill to see if it would be a good deal for me, but I live in State owned monopolyland (WA), so I can only pick one provider.