All energy retailers buy their electricity from the same wholesale electricity market, where prices are set every 30 minutes by the Australian Energy Market Operator (AEMO). The wholesale price is the true price for your usage that Amber (and other retailers) have to pay to provide you energy.
It’s normal for the wholesale price to fluctuate up or down in each 30 minute period depending on supply and demand, encouraging more power generation when the grid needs it, and less when it doesn’t.
The wholesale price that Amber passes through includes wholesale energy costs (which vary every 30 mins), hedging costs (a small fee to cover the cost of offering our Amber price guarantee), 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.
Amber makes nothing at all from your energy usage. Our $19/month subscription fee is our only margin for running Amber.
Check out this explainer to learn more about what drives the wholesale price up and down. You can find out more about what your bill with Amber would include here.