Yes, l do wonder if l’m “reading” it correctly. They’re monthly statement is light on info (unlike the ones l was getting from Red Energy) as is their online portal & app…there is no actual balance to be seen on the webpage re credit/money owing, the app shows a balance which l have to assume is correct and up to date. That said, l initially set up auto dirct debit and haven’t had any payments from my account.
Edit - l just checked my account, l bought $70 worth of power when l got the 1st statement not knowing how much l was generating vs using, so l’m really $170 in actual credit…l live on my own and dont use much electrickery, have all led lights, powerboards with master outlets etc and cook largely in an airfryer
Perhaps the next bill will more fully explain. We’ve been receiving credits from the state government through the latest round of government subsidies against increased electricity costs.
They also create a credit on the costs to date, but are not fully evident until the bill is issued. We get our bill emailed quarterly. It looks just like the old paper bill.
Note on knowing your solar generation, Solar PV systems usually come with a free App and cloud or local network connection to monitor the system performance. Not all installers take the time to explain or set up the connection. Brands may also require a local connection to the internet as a condition of the extended inverter warranty.
Some of the farcical nature of privatisation is revealed.
and specifically that
to better reflect the costs of retailing electricity," the AER said.
The costs of retailing have ‘allowed a slightly higher’ increase? If there are 20 competing companies all selling electricity from the same generators through the same networks they reasonably have replicated the billing, management, and customer service systems 20 times over either directly or by outsourcing. How and how well they negotiate their own inputs and their profit margins and ‘maximisation of shareholder value’ are variables.
Too many retailers with too many mouths to feed, CEOs, Boards, Staff, upkeep of buildings and other replicated equipment and personnel. Efficient? No way and yet the Energy Regulator says the retailers need to recover their costs…it beggars belief that consumers have to support that elephant in the room.
Cut a few retailers or even better make it a public entity again and get rid of the private industry that just increases costs and decreases the efficiency.
There’s no joy in what the AER has determined for those on the Default Market Offer (DMO) in SA, NSW and SE Qld.
A link to the two page info graphic. Apologies it’s not readily legible if I paste it as a graphic in this post.
What’s changed? In the following graphic for the average customer on a flat tariff DMO 5 is how it works out from 01 July 2023, while DMO 4 is how it is now. A direct comparison between distributors is not possible as the annual consumption assumed differs for each region/distributor. It should be self evident from the chart which cost components have increased the most and by how much.
The graphic assumes residential customers with Ausgrid purchase 3911 kWh annually, Endeavour 4913 kWh, Essential Energy 4613 kWh, Energex 4613 kWh, SA Power Networks 4011 kWh.
There’s further details and alternate graphics for those customers on controlled loads, as well as small business customers in the source document.
The determination is most relevant to the approx 5.5 million residential customers or 0.5 million small business customers the AER determination covers. The majority of these consumers are on negotiated price contracts which are supposedly better offers.
Consumers in regional QLD, Vic, ACT and Tas despite being part of the NEM will need to look to their state/territory regulators for how their costs will increase.
Consumers in WA and the NT where there are very different arrangements will also need look to their governments and news reports for the latest.