Hi everyone,
As per the title, I am currently with Reamped but looking to move to another provider as per their advice.
I am looking for fixed rate to avoid the price hike.
I have checked energymadeeasy and right now it seems like Energy Australia is my best option.
Does anyone have any other, maybe cheaper, option?
Thanks!
Fixed Rate Energy Provider Recommendation for NSW Sydney?
ozbozb on 06/06/2022 - 16:07
Comments
as fantastic as eme is, I've found there isn't a filter for plans that lock prices in. there is one for fixed contract, but that isn't exactly what I'm after (as some plans are technically variable but with a 12 month locked benefit period)
Be careful comparing variable and fixed rates. There are two different types of plans and usually prices go up next month!
Can someone explain how fixed rates work?
1. Is there a separate rate for fixed/variable (based on their own market forces) like in banks or is fixed just the current variable locked in for 12-24 mths
2. With rates going up 1 Jul, can't we all just lock in a fixed rate this month and avoid the stress for the next year (at a min)and separately, on a overall benefit (financial) perspective, AGL was pretty well rated until reccently (specifically the solar saver plan) given the high FIT (unrestricted output) and decent usage prices. With the FIT now much lower (and the higher FIT rate advertised restricted to a small output per day) does anyone have any recommendations for those of us with solar.
Sorry OP for leeching on ur thread
Flexi Plan on EnergyAustralia for example is a variable plan. They can change the prices at any time, which will likely be next month. This has 20% discount if you pay on time.
Similarly, the Total Plan only has a 6% discount but will lock in your rates at the current pricing.
So, it's about gambling whether you think the prices will jump more than ~14% or whatever that mathematical figure should be.
Alternatively on EA, you can choose the No Frills plan which is the flat rate, but has no discounts.
safest approach seems to be find a plan that locks the provider-side in but allows your side to leave anytime - I believe the no frills plan does this
Hey mate. I've been searching around for NSW for a few days.
I've found 3 fixed rates (though they might be higher than your current ReAmped (var) rates - but like everyone it might be better to fixed them than risk rate increases.
1) Energy Australia - No Frills
* $75 credit (electricity) + $75 credit (gas).
* No CR/SB for fixed rate.2) Origin - Go/Everyday
* 1pt Woolies Rewards per $1 spent on Origin bills.
* 5000 bonus Woolies pts for signing up - per energy account.
* No CR/SB for fixed rate.3) Red Energy - Living Energy
* $100 woolies gift card from applying via Finder link (in ReAmped email).
* No CR/SBHope that helps the OzB fam!
I'm looking at the EA plans now as well. How often do variable prices change? Once a year? Or more or less frequently?
The word on the street is once a year.
But I wouldn't be surprised if they start making "exceptions to the rule" if price rises dramatically.
Maybe scrapping fixed rates could be on the table & getting everyone to lock in "new" $2/kwh rates, and they'll just give us that 1-2 weeks notice 🤣 Just a thought hahaha
Thanks for that. My current EnergyAustralia plan and the 2 candidates to replace it are:
Total Plan Plus (current)
17% discount
$0.847/d -> $0.703/d
29.6879c/kWh -> 24.64c/kWhFlexi Plan
- Variable
- 20% discount
- $0.88/d -> $0.704
- 27.4813c/kWh -> 21.99c/kWhNo Frills
- Fixed
- $0.726/d
- 24.2c/kWhWith our usage, the Flexi Plan is around $130 cheaper than the No Frills, but is variable vs fixed. So is it true to say, the Flexi Plan rates are expected to change upwards in July, and so I should go for No Frills?
It's hard for me to say, I'm in the same boat with ReAmped "new" variable rate still being cheaper than any other variable rate on market (let alone fixed) (my rates updated on 25 May, much earlier than many others. Idk if there will be another 2nd increase for me from all their communications they're sending out - this is the part that confuses me).
If they update it on, say 1 Aug, I'll be saving a couple hundred from now until then. But there's risk to that too.
I'd say if you have a confirmed date when EA rates will "change", then stick it out Total Plan til then, then change to No Frills, just before they change. I wouldn't bother with changing to Flexi, then 1 month later to No Frills.
If you don't get the "date" confirmed, assume they could change rates whenever (could be next week) and just "update" you, so might as well change to No Frills now, since you'll have to eventually do it all again in 1-2 month's time.
Yeah you'd be losing $130 cash, but saving in a bunch of headaches, chasing up, misinformation, things not being done, waiting for plan to rollover, meter reads, sitting at the computer & potentially researching rates again, etc. Sometimes peace of mind is worth the cost.
Who knows, maybe all the last minute people think the same and EA will no longer accept new customers on No Frills - then your option would be to fix with some no name at high rates LOL
@Brodo Faggins: no, I am confident your 25 may rates change was not the last of it. that was effectively pre-chaos as notice about that was given all the way back in early may.
these recent hikes are a different beast. reamped estimates its rates may double (recent ceo fb vid). radian sent out a similar "over double" email to its customers
@KeplersLaws: What a shytshow this whole thing has been!
Thank you, I thought so - but then I heard everywhere on OzB that "they can only change it once a year" so idk hhaha
I'm making my way to either EA No Frills or RedEnergy this week - cannot be stuffed anymore comparing rates and on forums just to save 1-2month's of plan savings LOL
@Brodo Faggins: I don't know if there's a once-a-year rule, but I can't find anything definitive either about that. but I can see origin and EA will definitely be increasing their rates for any variable plans on 1 July.
but who knows. it seems the bigger providers have different/more versatile business models than smaller companies which means they can absorb wholesale price increases without passing them on to the consumer. so if after the 1 July rate rise the variable rate is cheaper than any fixed or no frills rate, you can just switch providers without penalty
I don't know if there's a once-a-year rule, but I can't find anything definitive either about that.
Yeah idk either - sheep just following each other (like the people thinking AGL & Alinta were fixed plans lol🤣).
you can just switch providers without penalty
That's also true, good point. I guess we'll have to see and revisit this 1-2 months after July 1 & see if it's better to hop between the variable rates.
We are also looking at EA no frills. Did you find any cash back or special offers to sign up to them?
Hi, is anyone with Red Energy? Looking for a referral so we both receive the $50 bonus credit. Send me a pm to arrange.
@hello1 , I think you've got messages turned off as tried to contact you - but system doesn't show you. I'm a Red Energy customer, feel free to PM me and I'll send you the invite and what you need. Cheers.
would love a referral code too!
After a referral code here too, feel free to PM!
@RdWarrior and @soaringphoenix - sent you PM with referral hope that helps, cheers.
Hey Nikko can you send me one as well TIA
@Maxdax onroute now :-)
Appreciate if you can send me the same, thanks Nikko
@Nikko Would also like a referral code. Send me a PM. Thanks!
@powerman , sending now - sorry for delay :-)
Three days ago I received the new rates from SimplyEnergy. They will be 50% higher, both energy and gas :((( It's hard to believe. Now switching to EA No Frills to fix a very low rate for 12 months.
Thought https://www.energymadeeasy.gov.au covered everything. Are there providers not enrolled?