Elysian Energy Review & Rates
Elysian Energy has entered voluntary administration. Elysian Energy customers will soon be transferred to a new retailer as part of the Australian Energy Regulator’s and Essential Services Commission’s Retailer of Last Resort Scheme.
If you’re an Elysian Energy customer, you can find more information from the Australian Energy Regulator or Essential Services Commission (if you are in Victoria) websites. If you’re concerned about what would happen if the same should occur at your energy retailer, you can find more information on protections for energy consumers here.
Please treat the below as historical information only.
Elysian Energy is a new Victorian electricity provider, promising simple plans to make energy billing easy. With plans now available in New South Wales, South Australia, Queensland, the ACT and Tasmania, this 100% Australian-owned company (that’s what it says) is aiming to provide everyday power savings to thousands of Aussies.
In this review, Canstar Blue will delve into what plans Elysian Energy is offering, what benefits are available, and examine whether customers will really save by making the switch.
Elysian Energy Plans
Elysian Energy’s plans are different to those offered by most power retailers in that, customers pay for a subscription service as opposed to paying for daily usage and supply rates.
How it works is that customers pay a monthly subscription fee, which basically sits in the place of a daily usage rate, and includes the first 200kWh of energy usage. Any additional energy usage beyond this number is then billed against a low usage rate.
While it does offer quite low rates, Elysian’s plans may not be for everyone, especially with it’s unique payment structure. That being said, the retailer does offer a reasonable solar feed-in tariff in each state. It’s important to note that the subscription service doesn’t lock you into a contract, so you can exit at any time without a fee. The retailer also offers a standard electricity product too.
Elysian Energy Plans Explained
Elysian Energy is claiming to keep things simple by offering consistently low prices, with no big discounts or headline promotions or incentives. Its plans however, don’t work like most on the market. Elysian Energy runs off a subscription service as opposed to a pay as you use model.
Customers simply pay a monthly subscription fee between $130-$155 (depending on locaton), which includes the first 2o0kWh of energy usage. Any additional energy usage then for the month is charged against a usage rate and added to the monthly bill. The usage rate for additional energy usage will differ from state to state.
Elysian Energy Perks & Fees
While Elysian Energy doesn’t advertise discounts as part of its basic pricing model, it offers incentives to those who refer a friend. You could receive a discount of $30 when that friend signs up, distributed as $10 credits every month for three months.
On the flipside, there are a range of fees to watch out for, including a paper billing fee, credit card merchant fee, connection charge, disconnection charge, dishonour fee, and an over the counter fee.
Should I switch to Elysian Energy?
Elysian Energy claims to offer a simplified (arguably) approach to plans on a monthly subscription, where it states you’ll receive regularly low rates.
If paying a subscribed amount will give you peace of mind knowing that you’re less likely to be surprised by a hefty bill, switching to Elysian could be right for you, but remember that you’ll need to regularly compare plans to make sure you’re still getting good value.
Elysian also follows a few major electricity retailers in promoting a ‘simplified’ pricing model, perhaps as a result of recent scrutiny over a lack of transparency in the energy industry. Big discounts don’t always mean big savings, and retailers like Elysian seem to be looking for new models to attract customers.
And whilst 0% discount plans can certainly be competitive, the promise of low rates doesn’t always hold true. Whilst Elysian Energy’s electricity plans may be competitive, it’s best to hop onto our comparison tool for a quote as to how much you could end up paying based on your circumstances.
Kelseigh Wrigley: Energy Specialist
As Canstar Blue’s Energy Specialist, Kelseigh Wrigley covers the retail energy market, with a focus on electricity, gas and solar. She joined the team after completing a Bachelor of Journalism at the Queensland University of Technology, and has previously written for a variety of online publications, including Hunter and Bligh. You can follow Kelseigh on LinkedIn.