Powerclub are a Melbourne based electricity retailer determined to shake up the electricity market. They’re modern thinkers with the technology to help you save, and they really believe that electricity prices shouldn’t cost a fortune.
If you’re an Aussie living in NSW, QLD, SA or the ACT, you can sign up to be a Powerclub member.
Whether you’re a business or homeowner, you’ll be able to sign up to a Powerclub electricity plan on either a peak or time of use tariff. One thing Powerclub do different is providing members with wholesale electricity prices and services, so you’re guaranteed to only pay for the electricity you use and the services you require.
To put the power back into the hands of its members, Powerclub created the Powerbank account - an account that’s designed to smooth out wholesale electricity prices when market fluctuations rise or fall. The Powerbank account covers the difference when prices are high and replenishes when prices are low.
When you first open the account, you will need to make a deposit that’s based on your estimated electricity usage, which can be from $40 per 1000 kWh to $80 per kWh. And according to Powerclub, if you decide the retailer isn’t for you, you’ll still keep the remaining balance.
Powerclub are also upfront about their fees and while you won’t be charged an exit fee, members will be charged a $39 annual fee ($79 for business).
Powerclub promises that if they receive more revenue than they need to cover staff expenses, they’ll either return the excess funds back to members or reinvest it back into Powerclub.
Powerclub work to minimise costs to members by selling electricity at wholesale prices.
Powerclub promises no shocks or surprises with their plans and are upfront about any fees they may charge.
Stay on top of the wholesale electricity market with the Powerwatch app, which sends you alerts if prices suddenly becomes high.
In an effort to do things differently, Powerclub created the Powerbank account to help smooth over wholesale prices when the market fluctuates.
Those looking to become a Powerclub member will need to sign up online. Once you’ve punched in your postcode, you’ll then be able to select plans right for your home before adding in a few extra details.
But if you’re looking to switch to Powerclub, you can reach the Powerclub customer service team via email or over the phone for more details on how to switch.
The Mozo communicty has rated Powerclub products and services on different specifications ranging from pricing and bill clarity to customer satisfaction and green energy.
I moved house so decided to trial power club to see if I could make savings for our family of 5. I was unsure of the initial upfront power club payment requirement, but am now so happy I took the plunge. My electricity bills have almost halved from $270-$200 s month, dropping to $60-100 per month! I have changed some habits due to the app alerting me when the wholesale rate is having a spike - it makes me check unnecessary electricity use and decide not to put on washing machines, dishwashers etc during those short peaks. I am 5 months in and living the lower costs!
I've been with Powerclub for about 3 months. My first electricity bill (period 18th Feb to 23rd of Mar) was a total of $1.96 for 35 days of electricity Supply and Usage! During the same period my PowerBank went up about $20 so the my 'gain' during the billing period was about $18.00. Not bad!My family of 2 adults / 2 teenagers live in Inner North Melbourne and I installed in Septemeber 2019 a 7.36 kWh Solar System with 23 x 320 Watt SunPower Corporation Solar Panels (SPR-P19-320-BLK) and a SolarEdge (SE5000H) Series Single Phase Inverter. 6 panels are on the East part of the roof, 10 on the North and 7 on the West. Basically from sunrise to sunset I am generating electricity and I have found that once I'm producing at least 1 kWh of electricity I can manage my electricity usage to ensure that my grid electricity consumption during the day is generally nil. The Powerclub Feed In Tariff (FIT) is 12 cents per kWh which I believe is the Standard FIT on offer in Victoria. I believe Powerclub has been the best option for my family of 4 for a number of reasons: 1) The Daily Supply Charge of 78.72c/day ($287.33 a year) is perhaps the lowest Daily Supply Charge out in the market. I couldn't find any other Electricity Supplier with a significantly lower Daily Supply Charge. The $39 Annual Powerclub Membership Fee effectively increases this Daily Supply Charge to 89.40c/day ($326.33 a year). This is still quite competitive. Daily Supply Charges tend to work against you if your daily grid electricity is low so it's important to find the lowest one when you have good Solar FIT 'volumes'. 2) The ability to purchase electricity at Spot Price values can be absolute gold. My fixed 'Peak' Electricity Charge is 19.28c kWh. This equates to a 'fixed' Electricity Spot Price of (I believe) 8c kWh. The other 11.28c kWh is made up of network fees, state/federal electricity levies and Powerclub costs. When I consume Grid Electricity and the Spot Price is above this 8c kWh threshold my PowerBank decreases by the difference (8c kWh - Spot Price). When I consume Grid Electricity and the Spot Price is below this 8c kWh threshold my PowerBank increases (Spot Price - 8 kWh). During my first Bill Period the Spot Price never went above the 8c kWh threshold so when I was consuming grid electricity I was very slowly increasing my PowerBank. 3) I enjoy seeing my Power Bills being slaughtered by my Solar Panels FIT and my ability to consume electricity when Spot Prices are low. 4) The Customer Service at Powerclub has been very good. Any issues that I have raised have been dealt with very promptly and professionally. 5) The Powerclub Web 'Portal' is very functional. You can log on and easily see your historical Usage and Solar FIT as well as the Daily Spot Price levels. There is other functionality there too which will no doubt be improved upon over time. 6) The Powerclub App is very good in letting you know when Spot Prices have gone up. Notifications can be set at different levels from $0.10 / kWh to $5.00 / kWh. Some negatives: 1) Having to purchase electricity at Spot Price values can also be a nightmare. I have yet to experience this though. Sometimes the Spot Price can explode to $15 a kWh for durations of up to 5-10 hours. If this happens and you are in a period of high electricity usage your PowerBank can decrease significantly. I'm not sure what happens if it gets depleted to Zero or Negative. Your PowerBank gains over a year could possibly be wiped out in a 5 hour high Spot Price 'window'. 2) The PowerBank set-up can be a bit confusing. I don't believe you can easily 'cash in' the PowerBank gains over time. I know you get the full balance returned to you if you leave Powerclub but it isn't quite clear on how you can 'cash in' without leaving Powerclub. 3) Powerclub does an ok job of explaining how everything works but they don't actually provide a detailed example ... or at least I wasn't able to find one. I basically had to wait for my first Bill to get a better understanding of how it all worked. This requires a small 'leap of faith' which I was happy to do but others may not. I would have liked to have seen an actual 'redacted' bill and some example electricity usage examples with clearer explanations on how the PowerBank works. 4) To get the best electricity usage outcomes out of Powerclub you have to be all over your electricity usage like a bad rash! If you have solar panels then you need to try to use your high electricity appliances during daylight hours. You also need to try to avoid using these appliances between 6pm and 9pm when Spot Prices are generally higher than the 8c kWh threshold. If you are not interested in micro managing your electricity usage then Powerclub may not be your best option. Installing a great 7.36 kWh Solar system and reaping the benefits of the Powerclub Pricing Structure has been a fantastic 'bill busting' experience for me. My family of 2 adults / 2 teenagers has basically turned a $2,000 annual electricity bill to possibly a $200 annual electricity bill. The Solar Panels are obviously the key to this cost reduction however the great Pricing Structure that Powerclub provides enables me to drive down the cost of all Grid Electricity Usage in a way that I have never been able to do before.
Despite the big bills I was receiving it took a long time for me to change energy providers. Friends had told me introductory offers wouldn’t continue and my costs, in time, would revert back to where they had been. My motivation to change was further diminished by the fact that privatised power companies need to make a profit and would not differ greatly in their pricing. So I stayed where I was until I heard of PowerClub. Their approach to selling power is a result of years of research and innovative thinking outside the square to solve the problem of high energy costs. And it works. My energy bill has dropped dramatically and I actually feel proud to be a customer / member of PowerClub, a not for profit, and I never been able to say that about a power provider before!
Want to compare more options before you ‘join the club’? No worries, our energy comparison tool can hep you compare some of the plans available in your area.