Amaysim reveals new prepaid power plans

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One of Australia’s most popular phone plan providers is hoping to boost its energy numbers with a new prepaid-style power product.

In addition to its existing electricity, gas and solar plans across the states, Amaysim has also launched a new subscription option that claims to simplify the confusing world of energy retail and help remove bill shock.

Only available in Victoria at launch, but with other states to follow later in the year, the new Amaysim plan sees customers pick one of three power packs based on their anticipated energy requirements for the month ahead, with the costs and kWh inclusions detailed below.

Customers can monitor their energy usage via their smart meter and Amaysim’s energy app, providing the flexibility to top-up and roll-over unused power month-to-month.

All three options are available on a no lock-in contract basis, with top-up power available for purchase in the event that households use more than their prepaid allowance.

Amaysim Energy Subscription Prices in Victoria

To calculate the estimated price below we use VDO pricing estimates, which in this comparison assumes general energy usage of 4000kWh/year, meaning that the VDO is $1,334/year. As such, we have selected the $120 per month plan, designed for 3-4 people. Based on these assumptions, this household would need to purchase two additional top-ups during the year.

Brand Features Price(estimated˜)
Amaysim Energy Logo
Energy Fact Sheet

Amaysim $120 Subscription Plan

No Conditional Discounts

Other Features:

  • Includes 320kWh/month
  • Cost of subscription $1,440
  • 2 additional top-ups required $60 (160kWh)
12% MoreThan VDO› $1,500

View all electricity plans listed on Canstar Blue

Amaysim Energy Subscription Prices in NSW

For the benefit of the estimated price below for NSW we use the AER Reference Price for a cost estimate, which in this comparison assumes general energy usage of 3900kWh/year, meaning that the Reference Price is $1,467/year. As such, we have selected the $120 per month plan, designed for 3-4 people. Based on these assumptions, this household won’t need to purchase a top-up during the year.

Brand Features Price(estimated**)
Amaysim Energy Logo
Basic Plan Information

Amaysim $120 Subscription Plan

No Conditional Discounts

Other Features:

  • Includes 360kWh/month
  • Cost of subscription $1,440
2% LessThan Reference Price^^ $1,440

View all electricity plans listed on Canstar Blue

Amaysim Energy Subscription Prices in QLD

For the benefit of the estimated price for QLD we use the AER Reference Price for a cost estimate, which in this comparison assumes general energy usage of 4600kWh/year, meaning that the Reference Price is $1,570/year. As such, we have selected the $120 per month plan, designed for 3-4 people. Based on these assumptions, this household will need to purchase one additional top-up during the year.

Brand Features Price(estimated**)
Amaysim Energy Logo
Basic Plan Information

Amaysim $110 Subscription Plan

No Conditional Discounts

Other Features:

  • Includes 380kWh/month
  • Cost of subscription $1,320
  • 1 additional top-up required $27.50 (95kWh)
14% LessThan Reference Price^^ $1,348

View all electricity plans listed on Canstar Blue

Putting the power back?

In launching its new prepaid product, Amaysim says it is “putting the power back into Australians’ hands when it comes to their electricity bills” because costs will be more predictable than with standard power plans, whereby customers are simply billed for the electricity they have used over the billing period.

The retailer points to new research it has undertaken that shows more than half of consumers (55%) have experienced bill shock over the last year. Additionally, the survey found that three quarters of Australians (73%) don’t know how much their next electricity bill is going to be, making managing household budgets more difficult.

Amaysim CEO, Peter O’Connell, said the company’s success in the mobile sector has inspired its latest innovations in the energy market, at a time when industry regulators are cracking down on the dodgy discount tactics of recent years, including the introduction of a new Default Market Offer to ensure that customers who are not engaged in the market are not penalised with excessively high bills.

“The energy market has the hallmarks of the mobile sector of ten years ago. Aussies are confused by electricity pricing structures, pricing comparisons and unnecessary billing complexities: this has resulted in universal distrust of electricity service providers,” said Mr O’Connell.

“The government’s mandate to energy providers to ensure customers will be able to access default energy prices is a start, but it is nowhere near enough. People want more transparency and bill predictability. Victorians want the power to plan for their electricity cost, as well as they want certainty around billing.

“We have a proven track record of disrupting cozy telecommunications markets and providing customer friendly subscription services. We want to eliminate bill shock and energy anxiety with our amazingly simple subscription electricity plans.

“Our customers will pay a fixed price each month for a set amount of energy based on their individual needs, just like their mobile. There is also a clear and consistent flat kilowatt rate, so there are no hidden prices, complex rates or fees and no nasty surprises.”

Mr O’Connell added that the retailer’s new plan “represents a fundamental shift within the energy sector” and “will raise the bar and encourage the industry to deliver more meaningful products for Australians”.

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