Throwing a curveball at the competition in Victoria is Momentum Energy, introducing a hot new plan ahead of the state’s annual price change cycle in January. However, it does come with a catch.
Dubbed the “Self Serve”, Momentum Energy’s latest deal is well priced, but is only available to customers who sign up online and pay by direct debit.
According to Momentum Energy, customers will only receive customer support online via the ‘My Account’ portal, meaning billpayers won’t be able to call up and make an enquiry.
This latest product from Momentum has overtaken the company’s previous cheapest electricity offer, the SmilePower Flexi.
Self-Serve has no benefit period or exit fees, meaning that customers are free to leave at any point without incurring any fees. However, rates are variable, so are subject to change. The billing frequency on this plan is monthly or bi-monthly.
It is also available as a gas plan in Victoria, with prices coming in cheaper than Momentum’s other product offerings at the time of publication.
Momentum Energy Self Serve Pricing
Here are the Momentum Energy plans on our database for Victoria. These are products from a referral partner†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year. Use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Time to go Self Serve?
Canstar Blue Editor-in-Chief, Simon Downes, said to remain competitive in Victoria, retailers have to be proactive with their product offerings and pricing – and that’s exactly what Momentum Energy is doing.
“The pricing gap between the cheapest and most expensive products in Victoria has narrowed significantly since the introduction of the Victoria Default Offer (VDO), but there are still lots of reasons to shop around and compare,” said Mr Downes.
“Getting the pricing right is obviously crucial – and well below the VDO is a good start – but it’s also about providing customers with the right service and experience. To those who prefer to interact with their retailer and bills online, Self Serve ticks the right boxes.
“However, being an online-only plan means there are inevitably going to be many customers who miss out on the competitive pricing.
“Direct debit payments are convenient but make sure you continue to monitor your plan and pricing in case of any rate changes.”
Most energy retailers in Victoria are expected to change their pricing come January 1.
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