Energy Providers

[coffee777]

Greetings, Reddit Hivemind!

In the market for new energy providers, and have been somewhat confounded.

Am I right in understanding that, for example, Diamond Energy’s all day costs are 21.7 c/kWh and Momentum Energy's rates are similar to Diamond 20.6 c/kWh, while Alinta Energy’s costs are 6.7 c/kWH.. making Diamond and Momentum roughly 3x as expensive as Alinta based on c/kWh? Diamond and Momentum purportedly offer renewable sources of energy, while Alinta is your cookie cutter oil/gas.

How, then can the reference prices be fairly similar? $1,292 for Diamond, $1,234 for Momentum, $1,215 for Alinta. Reference prices, as I understand them, measure the total cost of using 4000 kWh over the span of a year.

Please be kind with the number of downvotes. I am genuinely confused.

Edit: Thanks all, feel like a bit of an numpty. Alinta's peak consumption charge is exactly the same as Diamond Energy's 21.7 c/kWh

 

[loavesnphish]

@coffee777 6.7c/kwh sounds more like a solar feed in tarrif. That is insanely cheap and below wholesale market price so there's no way they're charging that for power, must be a mistake in their wording

Yep, just checked. That's their solar feed in tarrif. So if you've got solar panels thats what they pay you for what you feed to the grid

 

[theyearofthelady]

@loavesnphish This, 1st thought when I saw 6.7c was that sounds more like a FIT price.

for OP, also take into account daily charge prices, I'm noticing some of them are starting to gouge there a bit.

 

[truechristian18]

@coffee777 Is there both a tariff cost (the numbers you've quoted), and also a separate service to property (c/day) charge?

 

[wowdarling]

@truechristian18 I'm moving energy providers based largely on the service charge

 

[truechristian18]

@wowdarling Yes! If I'm looking to move providers, I do calculations using both to determine who's going to be cheaper.

 

[penny7]

@coffee777 I think you're reading that wrong, unless we have different results.

Alinta's usage is 23.33 c/kWh

Their feed-in tariff is 6.7 c/kWh

(Also, remember to compare daily supply charges when looking for energy providers)

 

[resjudicata]

@coffee777 Got a notice yesterday my provider charge is going up over 30c/KwH

 

[ericakuhl89]

@coffee777 Go to the government comparison website https://www.energymadeeasy.gov.au/ for a comparison of all suppliers