Energy retailer, Powershop launches in South Australia, what this could mean for electricity prices
The retailer will provide electricity to residents and small businesses from today, with plans to offer gas in the future.
At the moment, Powershop currently has over 120,000 customers across Victoria, New South Wales and South East Queensland and now those numbers are only expected to increase.
And according to Mozo energy expert, Nathan Warne, the state’s strong enforcement of renewable energy could see Powershop welcomed with open arms.
“Green energy is huge in South Australia, they’re well on the way to hitting their Renewable Energy Target and they’ve implemented the Home Battery Scheme, providing $100 million worth in subsidiaries to pay for home battery installations,” he said.
“I think it was only a matter of time before Powershop launched in South Australia.”
But of course, no launch would be complete with a hot offer and Powershop have just the thing for new customers. Aussies who sign up to Powershop before March 31 will receive a $100 discount on their power every year.
Powershop Chief Customer Officer, Catherine Anderson hopes that Powershop entering the South Australian electricity market will encourage competition and drive down prices, which according to ACCC Chair, Rod Sims is exactly what the market needs.
Mozo recently reported on the upcoming energy generation investments, which aimed to encourage smaller retailers to enter the market and limit the involvement of the big three energy companies.
"We were creating an opportunity for more competition, we just hope that's picked up by not helping the big three," said Sims.
And speaking of investments, Powershops’ parent company, Meridian Energy is currently the owner-operator of multiple renewable energy assets across the country, including South Australia, making Powershop renewable energy’s number one fan.
“Our investments in renewable assets across the country amount to over a billion dollars in generation and retail activities in recent years and we have strong growth ambitions in Australia,” said Powershop and Meridian Energy Australia chief executive Ed McManus.
South Australia’s new face of renewable energy
If you aren’t too familiar with Powershop and what it’s all about, we’ve taken the liberty of doing a quick recap.
Online power company, Powershop launched in 2009 with a commitment to building a sustainable energy future. It's also pretty committed to saving Aussie household big bucks when it comes to their energy bills. Although it’s 100% carbon neutral, Powershop won’t charge you any extra for it. It’s also got a handy app, which can help keep you on track with your energy usage.
But what really makes Powershop a standout in the energy market is that it was awarded five 2018 Mozo Experts Choice Awards, including the title of 2018 Queensland Electricity Retailer of the Year.