Victorian Powershop customers to save $70 a year “all thanks to renewable energy”

By Ben Tosi ·

It’s common knowledge that renewable energy is good for the planet, but energy retailer, Powershop are determined to show you just how healthy it can be for your wallet too by passing on savings to its customers.

The energy provider revealed it would cut Victorian rates by about 5% as part of a pricing update announced by Powershop CEO Ed McManus.

“Today’s price drop is around 5 per cent, which means for the average customer it’s about $70 a year, and all of that is thanks to renewable energy,” he said during a video announcement.

McManus was also keen to share just how Powershop was able to make these cuts, putting it down to ongoing investment in, and availability of renewable energy.

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Aside from the recent acquisition of three hydro stations, Powershop also recently secured long-term contracts for cheap energy from wind and solar farms along Australia’s eastern coast.

“The price that we get the energy from these new wind and solar farms is cheaper than the energy we can get from the normal wholesale market day to day,” McManus said.

“What that means is, we take the benefits of those lower costs and pass that on to our customer in terms of cheaper rates.”

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While Victorians are already being charged at the new, cheaper rates that kicked in on March 1st, Powershop customers in New South Wales and Queensland will be subject to a pricing update midway through the year.

And the good news is, they too may be able to make energy savings, McManus hinted.

“That coincides with the time that we’ll start to get energy from the new New South Wales wind farm and so we’ll be taking that into account of course, at the time.”

Want to know a little bit more about this environmentally-conscious energy retailer? Check out our dedicated Powershop provider page, or check out a range of other energy options, simply plug your details into our Energy Cost Cruncher to find plans that are best for you - including an option to make green energy plans a priority!

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