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Wretched Ratcheting Returns; or Dude, Where’s my Credits

By 17/06/2023No Comments

For those of us who have been around long enough, there’s fond memories of 50 cent feed in tariffs but also foul memories of super expensive systems producing minimal output. As the solar industry continues to grow at the speed of light (see what we did there?!) we’re seeing system outputs improve through the roof which we’re all for, but also the downside of power companies hedging their bets by lowering feed in tariffs which we’re all against. In this week’s Solar Saturdays we’ll take a look at ever decreasing feed in tariffs and just how to keep your system putting money back in your pocket as tariffs reduce.

Keep an eye out for seemingly boring emails from your power company.

They’re all coming! With the Australian Energy Market Operator (AEMO) recently approving increases of up to 30% to the reference rate throughout Queensland (this is what your power provider pays to bulk buy energy and on-sell to you), expect this to be passed on very shortly, if it hasn’t already. Unfortunately we’re seeing these as a double whammy for customers. With energy providers increasing rates for what they charge you on one hand and decreasing what they pay you for feed in tariffs on the other. These emails are often where changes will sneakily be hidden.

Leverage your loyalty.

If you’ve been with the same provider for a number of years (as many of us have) and you happen to get an email like the above. Phone them and let them know that you’re not happy and request they offer you something better. We know, we know, the gnashing teeth and screams of terror from waiting on hold can be heard from here! But trust us, it’s worth it. A member of the iDeal Solar family recently had their provider increase their feed-in tariff from 5 cents to 20 cents just by making a simple call. We’re seeing more success than not so pour your favorite bevvy and get comfortable.

Speak with your feet.

The plus side to all this is energy remains a competitive market. With power providers having no choice but to pass on increases to customers, competition means there’s plenty more providers out there willing to cut your current provider’s lunch (as well as their rates!).Sitting down with your current bill and visiting comparison sites is a great way to establish just what is on offer out there. Our favourites are:

https://www.energymadeeasy.gov.au/ and;

https://wattever.com.au/

Head on over and plug in your details to see just what you might be missing out on.

Conclusion

Inflation is real and we’re all starting to feel  the pinch. Between interest rates rising, grocery prices going up and now energy prices jumping by up to 30% it’s only going to get tighter but taking the few steps we can to make sure we’re all getting the best deal possible can at least make the brunt a little softer.

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