![[NSW, QLD, SA] ReAmped Energy - Advance Power Plan (27% below Reference Price NSW)](https://files.ozbargain.com.au/n/55/559155.jpg?h=d69b5097)
ReAmped is an up and coming energy company has been around for about 18 months now and their prices are very sharp. Their customer service is very good from my experience, online chat and email. Servicing NSW, South East QLD and SA.
2 weeks ago they launched a new product called ReAmped Advance. Their rates are 27% less than the reference price in NSW.
Also, both referrer and referee get $50 sign on credit! So don't forget to use this if signing up :) :)
What's unique about this product is that you get billed every fortnight, which may help for some in managing their money. If you have a smart meter, you are billed in advance, but then the next fortnight it is reconciled and adjusted based on actual usage.
If you have an old meter, its a bit messy. You get billed based on their estimate of your household usage for the first quarter, then actual read is done and adjustments are made.
The reason I am posting this is because they often don't appear in the comparison sites by the govt, I think because of the fortnightly payment method/structure. Mod note: See comments, it should be available.
Example in Sydney (Ausgrid):
Usage: $0.1896 /kWh (flat rate, even for time of use metering)
Supply Charge $0.9155 /day
I couldn't find cheaper when I crunched the numbers.
Example in Queensland (Gold Coast):
Usage $0.1670 /kWh (flat rate, even for time of use metering)
Supply Charge $0.9405 /day
26% below reference price.
Example in Adelaide:
Usage $0.2595 /kWh (flat rate, even for time of use metering)
Supply Charge $1.0075 /day
23% below reference price.
Rates include GST.
About the Advance plan
On our Advance plan, you pay fortnightly in advance towards your quarterly invoice. This plan is best for customers who don't mind paying upfront. Advance makes it easy to stay on top of your electricity account. Getting payment upfront is better for us too, so in exchange we'll give you our best rates.What if I have a smart meter?
For customers with a smart meter, the invoice cycle on the Advance plan is slightly different. Rather than invoice quarterly, we'll send you an invoice each fortnight with your next advance payment. That's because with a smart meter, we already have your usage data, rather than having to wait for a quarterly meter read.How do you determine my advance payment amount?
When you join, we set an initial advance payment amount based on a couple of additional questions during signup. The initial advance amount is based on the average usage of a similar sized household in your area using the Australian Energy Regulator bill benchmark data. This will be your advance amount for your first 3 months on the plan. After that, we may update your advance amount each quarter based on your actual average usage. If we are updating your advance amount, we will let you know with your invoice.When is my first advance payment due?
If you join the Advance plan, we'll send a statement for your first advance payment when your connection with ReAmped is complete. The payment will be taken 3 business days later.What if my account is already in credit?
If your account is already sufficiently in credit, we won't take an advance payment that fortnight.What happens if I can't pay in advance?
By joining this plan, you are agreeing to pay in advance. If you fail to pay in advance, we reserve the right to terminate the plan and offer you a choice to move to one of our other competitive plans. We hope it doesn't get to this, but if you do not pay in advance and you do not agree to move to one of our other plans, you may be moved to a Standard Retail Contract as a last resort. The Advance plan isn't right for everyone, and that's OK! If you would rather not pay in advance, check out our range of other plans with no advance payment required.
NSW "Feed-in-Tariff $0.0700 /kWh" is a show stopper for me