ReAmped shake up Victoria and ACT electricity prices

ReAmped shake up Victoria and ACT electricity prices

The arrival of low-cost electricity retailer ReAmped Energy into Victoria in March and into the ACT today is excellent news for energy shoppers wanting a better deal. Over the last two years, the independent electricity retailer has been a leading force lowering energy costs by intensifying price competition.

Victorian electricity price drop

ReAmped moved into Victoria in early March, promoting their market-leading Handshake plan. It was the State’s cheapest publicly-listed electricity plan and spurred other discount players to sharpen their pricing. ReAmped delivered a further price drop within a fortnight to reclaim the top place in the cheapest plan ranking. All of this is no surprise. ReAmped Energy has consistently been one of the most affordable players in the energy market since 2019. Its low-cost and no-fuss electricity plans already attracting over 25,000 customers across South East Queensland, New South Wales and South Australia.

ReAmped breaks the Canberra bubble

ReAmped Energy CEO Luke Blincoe said the ACT is the next step for ReAmped to put price-conscious Aussies first.
“ReAmped is all about great prices, simple and transparent plans and bringing Aussies the same power as the big power companies, without the big power company,” says Blincoe.

Below is the ranking of ACT energy retailers based on the estimated cost of their cheapest plan using AER’s benchmark electricity usage (7,722kWh p.a)  for a 3-person household in the ACT. This is for an anytime tariff (TARIFF 10) set up, which is a common configuration.

Cheapest Anytime electricity rates by retailer in the Australian Capital Territory (Canberra – Evoenergy network TARIFF 10)

RetailerLink to PlansGeneral UsageSupply Charge

Cheapest Time Of Use electricity rates by retailer in the Australian Capital Territory (Canberra – Evoenergy network TARIFF 10)

RetailerLink to PlansPeak TOUShoulder TOUOff-Peak TOUSupply Charge

Rates shown include GST and all available discounts. Plans are updated weekly from retailer’s Basic Plan Information Documents (BPIDs)
Retailers in the ACT are ranked based on the estimated cost for their cheapest plan for a household using 7,722kWh p.a. This is the AER published benchmark usage for a 3-person household in the ACT.
“Market-linked plans” that have their rates tied directly to the wholesale market spot price are not included in the tables above because these rates vary every day and cannot be compared like-for-like with most plans where the published rate is the rate you pay. To view indicative rates and feed-in tariffs published for ACT market-linked plans, please see WATTever’s rates pages for Amber Electric.

What to expect from ReAmped in the ACT ReAmped Energy’s Handshake Plan highlights the price focus and innovation that is at the core of the retailer. With the Handshake Plan, ReAmped rewards customers with no lock-in contracts and better rates for their loyalty. “If people are willing to commit to us for a year, then we will return the favour with better rates,” says Blincoe. “But if that customer needs to leave, we’re not going to sting them with fees – that’s just not our style. With a 19.66 cent per kWh anytime rate and a daily supply charge of 98.73 cents per day, the Handshake deal bettered any of the existing publicly-listed electricity offers (as at 15/2/2021). ReAmped Energy’s Advance Plan is designed to help customers avoid bill shock and comes with the retailer’s lowest rates. Featuring a 18.66 cent per kWh anytime rate and a daily supply charge of 98.73 cents per day – this is the ACT’s cheapest publicly-listed electricity plan for households using more than 12kWh/day (as at 15/4/2021). Under the Advance Plan, customers make fixed fortnightly upfront payments to stay on top of their account. “We know our customers want simple, reliable electricity at a fair price – so we’ve designed honest, transparent electricity plans that work for the customer,” says Blincoe. ReAmped’s Solar plan offers a generous 13 cents feed-in tariff on the first 5kW exported each day.

All online experience

The Brisbane based retailer is technology-driven and offers online chat rather than traditional expensive call centres, so there’s no time on hold. “These cost reductions ensure that we can give our customers a better deal and great service.,” CEO Luke Blincoe claims.

Which deal is best for me?

With greater competition in Victoria and the ACT, now is an ideal time to compare your energy options. We make it easy to get it right when you compare with WATTever’s comprehensive electricity comparison. You’ll see a personalised cost ranking of all publicly listed electricity plans based on your energy use to help you make serious savings. We include all retailers, tariff types, discounts, solar feed-in tariffs, input for concessions and more. For extra tips check out our essential guide to comparing electricity properly.

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