Below you'll find the answers to some of the questions we get asked the most about Powerclub
How will Powerclub benefit me?
We are a wholesale energy retailer that doesn’t profit from our customers energy use meaning our members only pay for what they use. We are here to help Australians save money by giving them more control, knowledge and choice.
How is Powerclub different?
We are the only energy provider owned by its members, so we don’t gain from your energy use and we aren’t looking to grow profits. In fact, we actually offer you ways to lower your energy consumption. That means no steep overheads, no tricks and no worries. Just cheaper energy.
What is Powerclub's mission?
Our mission is to help you save your energy for real life, so you can do more of the things that are important to you.
How much money can I save with Powerclub?
It depends on your current offer and retailer but on average, Powerclub can save you hundreds of dollars per year. Because we are a wholesale energy retailer, we don’t profit from your energy use meaning you only pay for what you use.
What is the Powerbank?
Powerbank is an innovation by Powerclub, designed to free you from unexpected price spikes and avoid high energy bills. Powerbank will act as a buffer to smooth wholesale price spikes, so you can pay a low fixed rate. Your Powerbank will be used to cover the difference when prices are higher and will be replenished when energy prices are lower.
At the end of each year, Powerclub will calculate the difference between what went into your Powerbank and what has been paid out for wholesale energy. The difference is then divided by 12 and applied to each month’s bill for the following year to recover the shortfall or pay back the excess.
How much will I have to deposit into my Powerbank?
To open your Powerbank, you will make a single deposit which is tailored based on your estimated annual usage. The minimum level of protection is calculated at $40 per 1000 KWh while the highest is $80 per 1000 KWh. If you are an average household using around 5500 KWh per year, your Powerbank deposit will be $220 at the minimum level of protection. Your deposit will be a little more if your energy consumption is higher, and a little lower if you use less. Some States, such as South Australia, have a more volatile wholesale market and will require more than the minimum Powerbank to cope.
Will I lose my Powerbank deposit if I choose to leave Powerclub?
No. The funds in your Powerbank are always yours. If you choose to leave Powerclub, you will be refunded the balance as of that day.
What does Powerclub charge?
The annual membership is $39 for residents and $79 for business to access wholesale energy prices. Powerclub then charges 26c per day and less than 1c per KWh to cover the cost of being your energy retailer. That’s it, nothing more. Our retail fee works out for the average household at less than 50c per day based on your consumption.
Can Powerclub help me lower my energy use?
Absolutely. Powerclub will automatically warn you when prices are high and advise you of ways to minimise your usage during these times. You can use the Powerclub app to check the current market price and log into the Powerclub members portal which will display graphs showing the normal highs and lows across the day. This will help you plan the best time to use appliances that use lots of power.
What is Wholesale Energy?
The wholesale energy market is where energy products such as electricity and natural gas is traded.
The cost of wholesale electricity changes every five minutes and there are occasional circumstances that cause prices to spike well above normal fluctuations. A spike is normally triggered when several events occur at the same time. For example, if a generator failed during a heat wave putting pressure on supply for cooling. In fact, wholesale energy can range from minus $1 to nearly $15 per KWh.
Realistically, energy price spikes don’t happen that often or last very long, so you should act quickly when they do. Powerclub’s App will warn you when prices are high and advise you of ways to minimise your usage.
When does Powerclub launch?
Powerclub goes live in January 2019. Sign up for early access and be the first to start saving your energy for life… not massive power bills.
Can I be notified when Powerclub launches?
You can sign up for early access and you can follow us on Facebook, Instagram and Twitter
Want to chat to a real person? We are based in Melbourne so shoot us an email on [email protected] and we will get back to you during normal office hours.
Start saving your energy for what matters
Access wholesale rates along with handy tips to help lower your energy bills for life.