Below is a list of common questions we get asked about our pricing. If we haven’t answered your question click here to browse through all our FAQs.
All energy retailers buy their electricity from the same wholesale electricity market, where prices are set every 30 minutes. The wholesale price is the true price for your usage that Amber (and other retailers) have to pay to provide you energy. The wholesale price includes wholesale energy costs (which vary every 30 mins), hedging costs, the rates charged by your local network (who own the poles and wires), metering costs and regulated charges for environmental schemes and market operations. We also add on a carbon offset to make your energy use carbon neutral.
Find out more here
Our app shows you the live wholesale price and provides a forecast to help customers who want to plan their electricity usage. If you have a power-hungry appliance such as a dishwasher, all it takes is a quick look at your app to see whether it's a good time to turn it on. Small changes to your routine can have a big impact on your bill.
We've got you covered. We pass through the 30 minute wholesale prices directly, and this is typically significantly cheaper than the Government’s Default Market Offer, but to give you peace of mind we guarantee you will never pay more than the Default Market Offer on average over a year or we’ll refund the difference.
Price spikes happen fewer than nine hours a year historically. Defined as when the price rises to anything from $3/kWh to $19/kWh (or $21/kWh in SA), price spikes tend to occur when most households are using energy intensive appliances (usually the aircon) and there aren't enough renewables in the grid to meet demand. At these times, coal and gas-fired power stations charge 100x normal prices for their power, driving up the wholesale price. It's important to shift your usage when price spikes happen if you're able, as this will help keep your costs down and keep money out of the pockets of coal and gas generators. The Amber app will help you do that. You can read more about price spikes here.
Yes. If you live in VIC, the Premium FiT is actually funded by the Government, so we'll pass that straight through to you, and even add on our normal FiT (equal to the wholesale energy price at the time of exports) as well.
Yes - that's a controlled load tariff, which means that your local network give you cheaper rates for your energy.
Over May-July 2021, we saw unusually high wholesale prices, especially in QLD and NSW. As a result of the unexpected nature of these higher prices, Amber's insurance products paid out to the company, and we passed these bonuses onto our customers.
These bonuses were seperate from our Price Protection (explained above), so they aren't guaranteed. But if similar unexpected events occured again we'd likely look to take similar actions.