Origin Energy kicks off ‘Good Energy’ era with new, low rate plan for Victoria
It’s been a busy few days for Origin Energy after it officially launched its new ‘Good Energy’ brand earlier in the week, then followed up by dropping a fresh, low rate energy plan for Victorian customers.
The new, no-frills One Low Rate energy plan features fixed tariffs over a 12 month period and does away with conditional discounts, instead offering customers usage rates that are approximately 30% cheaper than anything on the market - including Origin’s Standing Offer.
The move comes just days after the energy retailer announced its first major rebrand, debuting a new logo and championing a new ‘Good Energy’ slogan, as well as reaffirming its commitment to affordable, renewable energy sources.
“But this is about much more than a new logo,” CEO, Frank Calabria wrote via the company’s blog.
“We want people to feel good about being with us and good about the direction we’re headed – to make energy more affordable, dealing with us easier, and the transition to sustainable sources of energy.”
Are energy discounts any good at all?
Nabbing a discount on pretty much anything nowadays might seem, on face-value, the best way to know you’re getting a good deal. But according to the ACCC’s Retail Electricity Inquiry Report released in November last year, that may not be the case when it comes to energy.
At the moment, the ACCC estimates that about 80% of plans on the market come with some form of conditional discount - the majority of which only kick in when you pay on-time and via a specific payment method (like direct debit).
These discounts might seem like a great way to save on your plan, but can also confuse customers when it comes to shopping around for the best deal.
“The vast majority of retailers offer discounts, either off the total bill or electricity usage only, but these discounts are not taken from a consistent reference point across retailers, making it difficult to determine which offer is best,” the report stated.
Bigger discounts, but bigger energy bills
Discounts aren’t just making it more complicated for Australians to compare energy plans side-by-side, they’re also costing those of us who aren’t able to meet the conditions surrounding them.
In November last year, Mozo reported on data from the Victorian energy market that highlighted just how much missing out on these conditional discounts could set you back.
“A customer who didn’t meet their discount conditions for an entire year would pay an extra $314 for electricity, an increase of 27 per cent and $189 for gas, an increase of 16 per cent,” said Essential Services Commission chair, Ron Ben-David.
With all that being considered, it’s clear to see why Origin’s newest One Low Rate offer has done away with discounts altogether, offering customers a more transparent look at how their energy bill is calculated.
“Our new brand is just the starting point. We realise there is still much to do to deliver more affordable energy to Australians. It’s a challenge we are not shying away from or think will be easy,” Calabria said.
What is easy, however, is using Mozo’s Energy Cost Cruncher. If you’re after a new energy plan, simply plug your details into the calculator and find out which plan would best suit your household. And yes, you can toggle results so that they filter out discounts altogether - happy hunting.