Energy company Mojo set to slash electricity prices in Queensland
One of the most recent entrants into the energy sector, Mojo has changed the way people look at electricity prices in NSW, and is now set to shake up the Queensland energy market.
Launched in 2015, Mojo Power offers an innovative power pricing structure by providing users with a flat subscription, which gives them access to wholesale electricity rates. Since Mojo draws its margins from the subscription fee, which varies between $30 and $50, it’s not dependent on making profits by people using more electricity.
Now with electricity prices due to be deregulated in south-east Queensland from July, Mojo is looking to expand its presence in the Sunshine State later in the year. Queenslanders looking to sign up with Mojo can register their interest directly on their website.
According to Mojo’s CMO, Mark Khademi, the company’s main focus is providing the best service to customers, while helping them become more energy efficient. For households with high power usage, that could mean significant savings.
“Unlike existing electricity retailers, which make more money the more electricity their customers use, at Mojo, we don’t profit from energy consumption,” he told CMO. “We charge a flat monthly fee called an EnergyPass that allows customers to access our wholesale rates. For the first time, the interests of the retailer and those of its customers, to use less electricity and lower their bills, are completely aligned.”
Mojo is backed by investment from the Australian Renewable Energy Agency and aims to slash electricity costs through solar power, energy storage and energy efficiency.
While people living in south-east Queensland can start looking for competitive energy plans starting July, other parts of Queensland like Brisbane and the Gold Coast, already have a deregulated energy market. Residents of these areas can slash their electricity prices by switching to a cheaper power plan now using Mozo’s free energy comparison tool.
And if you’re looking for more information on how traditional electricity bills are structured, take a look at our article on what you need to know about electricity prices.