Power disruptor Energy Locals has announced it will bump up its feed-in tariff for customers in South Australia this summer.
As wholesale electricity prices are set to rise in the first quarter of next year, Energy Locals is giving solar customers a welcome boost to the power they export back to the grid to take the pressure off rising bills.
From January, the maximum solar feed-in tariff (FiT) offered by Energy Locals will jump to 20 cents per kilowatt hour (kWh) – a 25% increase from the standard FiT of 16c per kWh.
Founder and CEO of Energy Locals, Adrian Merrick, said the solar initiative is an honest way to give back to customers with solar PV systems.
“Our focus is on clean power and giving customers transparent, great rates. As we don’t earn money from customer usage, we’re able to pass on this benefit to our solar customers who will get a much better rate for their spare solar,” Mr Merrick said.
“Transparency is the arch enemy of large energy companies and South Australians respond well to it, with the state having been our fastest-growing region over the past year.”
Mr Merrick also alluded to deceptive practices in the market which have seen a handful of energy retailers fined and penalised by the industry watchdog for misleading customers.
“Our unique business model gives customers much-needed transparency in a market that’s become famous for confusion, misinformation and dodgy behaviour. We’d much rather give our customers extra money for their spare power than give the same money to a traditional power generator,” he said.
This refers to the retailer’s energy plans which include a small, fixed membership fee, allowing the company to pass on wholesale electricity rates to customers without applying any retail profits.
Known fittingly as the ‘Local Saver 20c Summer Solar Bonus’, the new product from Energy Locals has no credit card or exit fees, but comes with a $15.99 a month membership cost.
The deal will be available between January 1 and March 31, 2020.
How does this feed-in tariff compare in SA?
The boosted feed-in tariff from Energy Locals compares very well against other electricity providers in South Australia. If you’re a solar customer, here’s what you can expect:
South Australia Solar Feed-in Tariffs
|Retailer||Minimum Feed-in Tariff (kWh)||Maximum Feed-in Tariff (kWh)|
|Dodo Power & Gas||11.6c||11.6c|
Source: Canstar Blue electricity database/respective retailer websites, December 2019.
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