Elysian Energy Review & Rates
Elysian Energy is a new Victorian electricity retailer, promising simple plans to make energy billing easier. With plans to expand to NSW, SA and QLD in the near future, 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 Victorian customers will really save by making the switch.
Compare Elysian Electricity Plans
Elysian Energy Plans
Elysian Energy’s plans are different to those offered by most power retailers in that, if you’re on one of its market offers, you’ll know what you’ll pay for your energy ahead of time.
How it works is that you’ll select an amount of energy that you think is adequate for your home over the span of a month, and then pay a set rate at the end of your period for it. What’s good is that you’re not locked into a contract, so you can exit at any time without a fee.
Plans also have add-ons, such as a hot water pack ($20), which is aimed towards customers with a dedicated supply of electricity (i.e. controlled load), allowing for an extra 150kWh of power to handle that load. There is also a $30 solar credit, which allows for 300kWh of net generated energy.
If that payment structure is not for you, Elysian Energy also offers a standard electricity product with a 10% pay on time discount.
Elysian Energy Prices
So, what can you expect to pay with Elyisan Energy? The costs below are based on a typical three-person household living on the Citipower network in Melbourne. The annual price that we display incorporates the monthly cost listed by Elysian as well as the cost of any additional energy a household of this size needs, again according to our estimates. Use our comparison tool above for a more specific quote in your area.
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The Good Life
The Full House
A New Chapter
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Elysian Energy Plans Explained
Elysian Energy is claiming to keep things simple by offering consistently low prices, with no big discounts or headline incentives. Its plans don’t work like most on the market. Much like a phone plan, Elysian Energy offers a fixed rate for a certain amount of power, sold in kWhs.
Depending on the size of your home and how much energy you use, Elysian suggests different sized plans. If you don’t use all of the energy you’re allocated in the month, it then rolls over to the next month, so you’re not losing any value.
However, if you find your plan does not suit your needs and you need more energy, you’ll be relieved to know that you won’t be cut off, rather charged a rate of 19.701c/kWh for the excess power used. Elysian Energy has four plans in this type – The Minimalist, A New Chapter, The Good Life, and The House.
The prices below reflect what you will see in the CitiPower distribution area.
The Minimalist is advertised as an energy plan tailored to individuals and couples – essentially any household that doesn’t use much electricity. You’ll get 200kWh of electricity in the month for $78.50.
A New Chapter
On Elysian Energy’s ‘A New Chapter’ plan, you’ll get double the amount of energy (400kWh) for $117.50/month. The product is for households of around two to three, who use a little bit more electricity day to day.
The Good Life
For bigger families of four or more, Elysian Energy recommends the The Good Life plan, which includes 800kWh of energy to use a month.
The Full House
If you share a house with more than four or five people, Elysian Energy recommends 1,200kWh of power to meet your needs. With a starting price of $275 a month, you’ll only want to opt for this plan if you really need it.
Elysian Energy claims to have a process for transferring people to the correct plan depending on their usage, to keep customers on the most fair deal.
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 follows the likes of Powershop by offering simplified (arguably) plans on a monthly prepaid allowance, where it claims you’ll receive regularly low rates.
If paying a prepaid 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.