When you hear the word ‘subscription’, words like Netflix, Stan or Spotify may jump to mind. But now, Aussies in Victoria can add their energy plan to that list.
In addition to their existing plans, mobile and energy provider amaysim have launched a new electricity subscription offer.
Customers can now choose between three subscription energy plans that vary by the number of people in a household and the amount of estimated electricity used every month.
Amaysim believe that these new plans will help avoid bill shock and remove confusion when selecting an energy plan.
Customers can also monitor their energy usage through their smart meter and the Amaysim energy app.
“Amaysim’s new plan is innovative and a step in the right direction in that they are trying to improve the way we pay our bills,” said Mozo Energy Expert, Nathan Warne.
“But one thing customers need to remember is that prepaying your energy bill doesn’t guarantee you a lower price - these new offers just provide more clarity.”
So what does the new amaysim subscription plan look like?
Amaysim’s subscription energy plans are only available to Victorian customers, but the retailer has promised to roll out the new offer to other states later in the year.
As a rough guide, for a household with 1-2 people, 200kWh is provided for $80 a month, a household with 3-4 people would recieve 320kWh for $120 a month, while larger households with 4-5 people would be given 440kWh for $160 a month.
A top up feature is also available just in case customers exceed their plan. Top up rates for each plan are 50kWh for $20, 80kWh for $30 and 110kWh for $40, respectively.
And customers won’t have to worry about energy going to waste either, as any unused energy will be rolled over and saved on their account for up to three years.
There’s no lock-in contracts, no confusing discounts and according to amaysim, customers won’t ever “waste a cent.”
However, Warne has still encouraged customers considering amaysim’s new subscription deal to take the time to compare other offers in the market to ensure they’ll be getting top value for money.
“Before you sign up, just be sure amaysim’s rates are the most competitive you can get on your electricity. There aren’t any supply charges, unlike many other providers who do charge them, so you will only be paying for the electricity you use,” he said.
Putting the power back into customers hands
With all the news surrounding the state of the energy market many government bodies, and now retailers, are taking steps to give back the power to customers.
Last Tuesday, the Australian Energy Regulator's new Hardship Policy Guidelines came into play, which is set to hold retailers accountable for providing customers experiencing financial difficulty the support they need.
That was then followed by the launch of the ACCC’s first electricity monitoring enquiry, a report that detailed future recommendations to improve the market as well as updates on how past recommendations were progressing.
And in the case of amaysim, their latest move to give customers the chance to subscribe to a prepaid plan with no discounts or other incentives might be their way of repairing the damage.
In March, amaysim was fined $900,000 by the Federal Court after being found guilty of misleading customers over electricity costs and the benefits of paying their bills on time - their new subscription offer has neither a pay-on-time discount or complicated rates.
But an easy to understand plan is just one feature worth having when it comes to finding the right offer for your household. Head on over to our energy comparison tool to compare the new amaysim deal with other available plans in the market.