Wednesday, April 24, 2019

Powershop - switch and save

We've recently switched our electricity provider to Powershop. I'm highly recommending it. Here are 8 reasons why it's a great choice.

Renewable energy makers

Whichever electricity retailer I choose, they're going to make a profit from me. I'd prefer that profit to go to a good company. Powershop is owned by Meridian Energy, which also makes renewable energy. That's the kind of company I like to support.

Greenest electricity provider

The Green Electricity Guide ranks electricity companies on their green credentials. This includes emissions from power stations they own, their policy positions on renewable energy and fossil fuels, their deals for solar consumers, and their promotion of energy efficiency.

Powershop tops the list every year and is one of only two companies with a 5-star rating.

Cheaper Electricity

Electricity costs are made up of two parts - the daily 'supply charge' and the 'usage rate'. Both of these are cheaper than our previous provider. Also, their pay-on-time discount applies to both areas. Other providers generally offer their discount only on the usage charge part of the bill.

To compare to your current provider, check out

Extra "David-discount"

You won't see much advertising for Powershop. Instead of paying for TV ads, they just give the money to customers. What a great way to do business!

If you sign up with my special link you'll get $75 credit and so will I.


Powershop also does billing better. You can top-up your credit at any time (like a prepaid phone or a public transport card). You get a discount for doing this. For example you can buy $100 credit for just $85.

Smaller bills

Powershop bills monthly rather than quarterly. (Yay!) Apart from making it easier to budget for, it's also less of a shock because each bill is around one-third what you are used to paying. Powershop also lets you know a few days ahead of time, so you have a chance to double-check you have enough credit to cover the bill.

What about my solar panels?

The Energy Made Easy site doesn't really cater for solar households. You might have to compare the rates to your current bill. Generally their solar rates are good (part of their great environment score). Here's the link to check rates for your area.

What do other customers think?

Powershop is big in Victoria (their first state). Amongst its customers there it rates 5-stars in most categories and out-rates the major retailers by quite a margin.

Are there any negatives?

I know of only two possible negatives. The greenpower option is slightly more expensive (at least compared to my previous provider). However, as 100% Greenpower customers we found this small extra cost was offset by Powershop's great base prices. Even with our 100% Greenpower the overall cost was practically identical. The sign-on bonus was waaay more than the tiny difference in cost. We changed mostly to support a renewable energy company with better business practice. If you're not a purchaser of Greenpower, then you should have lower cost, and a sign-on bonus.

The only other thing is that your very first bill may be based on estimated usage. Powershop bills monthly, but physical readings are only done quarterly. So your first bill may seem bit low or high. This will even out once they've done a physical reading. Or you can choose to enter your own DIY meter readings via the website.

In summary

If you're looking for the cheapest deal, Powershop's a great choice.

If you're looking for the greenest electricity company, Powershop's a great choice.

If you'd like more for the solar power you export, Powershop's a great choice.

If you'd like to receive a sign-on bonus, Powershop's a great choice.

Here's my special link to get your $75 bonus credit.

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