If there’s one thing that’s been in need of an upgrade, it’s the Australian energy market.
Just as fintech players have been shaking up the banking industry, new technologies have brought about a new wave of competition and players in the energy market.
In 2019, 11 new energy retailers entered the market, armed with brand new ways to keep Aussie households on top of their energy bills. One way has been with apps, which allow customers to purchase or view electricity in real time.
Curious about what that actually looks like? Then we’d like to introduce you to three energy retailers that are all for innovation and savings with nifty apps.
The retailer: Powerclub
Who they are: This Melbourne-based retailer was founded in 2018 with the goal of keeping electricity prices affordable and transparent. Powerclub is a not-for-profit retailer, so any excess profits are either returned back to its members or invested into the company.
The Powerwatch app: Powerclub customers have access to wholesale electricity prices on a cost per use basis. Wholesale prices change every 30 minutes, so the Powerwatch app acts like a tracking tool to help customers view when prices are high or low.
Taking it one step further, the app also sends out alerts to users when prices are high so customers can limit their usage and save on energy. During times when prices are high, the app will also suggest a course of action, based on the average price and provide energy savings tips.
Is it right for you? To get the full benefits of the Powerwatch app, households need to take an active role in monitoring their energy usage. This could mean checking the app several times a day or restructuring schedules for household chores, like washing clothes and cooking to times where prices are cheap.
The retailer: Amber Electric
Who they are: Working with fellow energy retailer, Energy Locals, Amber Electric is all for green, renewable energy and cheaper prices. Similar to Powerclub, customers are able to pay wholesale prices, without the retail markup. Although they are technically live in NSW, VIC QLD, the ACT and SA, news customers will be redirected to the retailer's waitlist via the Amber Electric website for now.
The Amber Electric app: The app gives customers an insight into live and forecasted wholesale prices, so they can reduce or maximise their electricity usage when prices are at their highest or lowest. It also shows the percentage of renewable energy in the grid to encourage customers to use greener electricity.
Households with solar can track their solar feed-in tariff rate, as well as the amount of solar energy their panels have exported each day. Regular customers can view their electricity usage from the previous day or last 30 days to discover areas where they can cut back.
Is it right for you? If you’re a big fan of solar energy and want to stay on top of how much renewable energy your panels produce everyday, the Amber Electric app could be the pick for you. Of course solar panels aren’t a must in order to sign up, you just need to have a love for green energy.
The retailer: Powershop
Who they are: Founded in 2009, Powershop is a 100% renewable energy retailer that’s committed to building a sustainable future. Whether you’re looking to cut your power bills or gain a better understanding of how you use electricity in your home, Powershop can help you do it.
The Powershop app: Once customers download the Powershop app, they’ll be treated to a range of features that quite literally, puts the power back into their hands. With the Powershop app, customers get a bird’s eye view of their energy usage on either an hourly or daily basis. From there, they can make the effort to reduce their usage during certain hours and save on their bills.
One cool feature of the Powershop app is the ability to purchase Powerpacks. These are electricity packs that can cover your current situation for future energy needs. To make sure you’re getting the best bang for your buck, the app will send you notifications when Powerpack specials are available.
And if you’re looking for other ways to save a few extra dollars on your energy bill, you can refer your friends to switch via your app in exchange for cash off your next bill!
Is it right for you? Powershop has slowly become a household name in the energy industry, so if you’ve been looking to make the switch to a well known, green retailer, Powershop could be the way to go. Just keep in mind that in order to take advantage of the app, households will need to be confident with reading energy usage recordings and purchasing the correct amount of electricity for their home.
Want to find out how these retailers size up beyond their apps? Enter your postcode below to start comparing electricity retailers available in your area!