If wholesale prices are down, why is your energy bill going up?

The price most Aussies pay for electricity is rising. 

Cost of living isn't getting any cheaper. To add fuel to the fire, as of August 1, energy rates across Victoria have gone up as well.

Why? Two main reasons.

Firstly, in response to last year’s energy crisis, regulators have increased this year’s government reference price.[1]

Secondly (and this is the big one): last year, Big Energy lost millions. Hundreds of millions. And now they’re trying to make up for it by hiking up retail prices.

In short: Big Energy messed up and now they want you to pay their bill.

The kicker is that wholesale energy prices are actually down. This year we’ve seen record output from rooftop solar and large-scale renewables which have helped to drive down the market price of energy.

So, with wholesale prices falling, how can you avoid paying Big Energy’s Big Bill?

That’s where we come in.

Unplug from Big Energy with Amber.

For just $19 a month, Amber gives you access to the real-time wholesale price of energy with no retail markups. 

In Australia the wholesale price of electricity is often cheapest when renewables are plentiful. But traditional retailers charge a fixed rate regardless of whether the sun is shining and the wind is blowing, or if the grid is being powered by coal and gas.

Wholesale prices change throughout the day.

There are two ways that you can save with wholesale energy: 

1. Simply switch to Amber. By buying electricity at the wholesale price, you’re cutting out Big Energy retailers and dodging their retail markup. Amber customers can reduce their energy bill even further by using power at times when renewables are powering the grid and wholesale prices are cheaper.

2. If you have a battery, you can take your savings to the next level - by exporting when wholesale feed-in tariffs peak, and charging up when wholesale prices drop.

The Amber app also gives you full visibility and control to help you manage your energy – including live wholesale prices and forecasts, price and ‘green grid’ notifications, as well as usage and cost insights. 

At Amber, we believe wholesale is a better model in the long-run for most Aussies, offering you more value and control, while at the same time helping accelerate Australia’s transition to 100% renewables.

It’s time to try wholesale with Amber. Learn more here

P.S. If you are interested in the solar and battery experience with Amber, see here.

[1] Australian Energy Regulator’s announcement of the Default Market Offer 2023–24 determination and the VIC Essential Services Commission announcement of the Victorian Default Offer 2023-24: final decision