Discover how your family could be cashing checks instead of paying bills to power providers

Did you know that instead of receiving a bill in the post, you could be receiving a cheque if you play your cards right with your power provider?


Sydney dad Kurt McLachlan doesn't get a bill for his power usage. Instead, he gets what most would consider a rather welcome surprise–he gets paid!


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At times, the McLachlans do not pay for power usage and instead, even get paid! Image source: wirestock on Freepik.


While most of us are struggling with the continuous rise in prices for power, McLachlan's electricity bills have, at times, totally vanished.

'In April it was 220 bucks, then 190, then 99, and this month I'm on track to receive a $50 rebate,' he said.


So how did he manage that? He's been using Amber Energy for the past five months, a power company that offers access to wholesale electricity prices.

He has been enjoying 34 cents per kilowatt-hour through wholesale feed-in tariffs.

The basic concept behind a feed-in tariff is to offer a fixed, premium price for the electricity generated from renewable sources like solar, ensuring that the producers of such energy receive a guaranteed income for a specified period of time.

'When we get the peak solar, I'll go from a $20 to $50 rebate to $500 or $600 a month,' McLachlan shared.

How does it all work?


The traditional energy model involves the generation of energy, which then enters the grid. Then, retailers buy it from wholesalers before selling it to consumers at individually fixed prices.

Amber Energy, however, takes retailers out of the equation, providing customers with direct access to wholesale energy prices with a monthly subscription fee of $19.

Moreover, through their app and automated software, it is easier to track when wholesale prices are lowest which is the best time to buy, and when they are highest which is the best time to sell. This gives users freedom on when to use power to maximise their savings.

‘It creates an option for people to take advantage of that and make it cheaper for themselves,’ Chris Thompson, Co-Founder of Amber Energy, said.


But there's a catch–accessing wholesale energy sure seems exciting, but tying yourself to fluctuating prices can be a bit risky. If the wholesale energy price soars, guess what happens to your bill?

However, Thompson assured: ‘We've got protections in place to make sure we guarantee customers never pay over a certain price in a given quarter to be able to offer that sort of security and peace of mind.’


The benefits to households without solar or batteries are certainly there, however households with solar or batteries will benefit the most.

‘It looks good on paper, but if you're not ticking all the boxes, it may not be right for you,’ Compare the Market's Philip Portman said.

While Amber does offer energy below the default market offer, Portman said exploring your options has its advantages:

'Right now, Glowbird is offering a plan which is 18-per-cent below the default offer, there's Ampol which is about 17-per-cent and Origin which is also around 17-per-cent.'

You can watch the full report below:





Remember that this is not personal financial advice–the information provided here is general. It's crucial to consider your personal circumstances prior to making any financial decisions.

If you want to know more, you can read this article for more information on investing in batteries for solar panels.

You can also check this article to see if you are eligible for Energy Rebates!
Key Takeaways
  • Sydney resident Kurt McLachlan has been receiving rebates instead of bills due to using wholesale electricity provider Amber Energy.
  • Amber Energy provides access to wholesale energy prices and charges a monthly subscription fee of $19.
  • Amber also offers software that enables home batteries to buy energy when prices are at their lowest and sell when they're at their highest.
  • While wholesale energy can be cheaper, fluctuations in wholesale energy rates can mean significantly fluctuating bills.
  • Amber claims to have protections in place to guarantee customers never pay over a certain price in a given quarter.
Members, what are your thoughts on this topic? How are you managing your energy bills lately? Do you have any money-saving tips or advice you’d like to share? Let us know in the comments below!
 
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In April 2018 I had a 6.6kw system installed for $4500 and so far I've had credits of $3000 plus what I use each day. I know feed in tariffs are crap but I'm still saving something and better off than paying $400+ per quarter. I was screwed around by my provider when I had it put on as I had the old manual reader and it was going in reverse but the didn't want to say that they were wrong. I'm happy with what I get in credits but I think the government should get the energy providers to set the feed in credits at 30% on what they charge with no reduction for how much you put into the network.
Think about what solar credits you are getting and that is a minimum of how much it would have cost you extra plus what you use during the day. Queensland is a lot sunnier than down near the Victorian boarder where I am but I have had $3000 worth of credits in 5 years and that is money that I didn't have to find to pay for my electricity and the usage during the day as well. unless you keep a record of what credits you get, you don't know how much you have saved!
We don’t get credits. All we get is 6- 9 cents a kWh. That’s all the qld gives they are making the money not the people with solar panels.
 
I don't throw rubbish out of vehicle; many others do. Thanks for the heads up about the cost of solar panels. That $13 000 quote was about 4 years ago.
People are lazy at the park here people just drop their rubbish where they are ,too lazy to walk a couple of metres to the bin. That goes for all ages This is a family park I am talking about. Disgusting grubs.
 
Precisely why I won't go"green". $13 000quote for fitting solar panels, no subsidy form gov't through taxation across the nation except handouts and lousy roylaties in return from the gas and coal companies. God knows what per unit from the power company and only 5cents per unit if I sell them my solar-generated energy. Some friends got in a long long time ago and got an initial contract that returned 28c per unit, but I am damned if I'll gave the power company electricity at 5 cents a unit to sell to someone else at God knows what per unit. Bloody privatised power companies.

If the power company bought roof-top solar power at the price we had to pay them for the same amount, that would be fine. I'd commit to going solar, but it all boils down to money.
$13000 set up - that amount of money gives me over 13yrs of normal (coal powered) electricity, hard to justify the outlay- what if those panels dont last 13yrs after i purchase them (& does that $13000 include a battery/off grid power?)
 
We don’t get credits. All we get is 6- 9 cents a kWh. That’s all the qld gives they are making the money not the people with solar panels.
If you get 6-9 cents per kwh for what you feed in, that's what is called a credit as well as what you use during the day. I think you might need to read your electricity bill a bit closer.
$13000 set up - that amount of money gives me over 13yrs of normal (coal powered) electricity, hard to justify the outlay- what if those panels dont last 13yrs after i purchase them (& does that $13000 include a battery/off grid power?)
There are systems out there that are cheaper and just as reliable. Mine cost $4500 in 2018 and have saved $3k plus what I've use during the day. How much I've saved during the day is unknown however in 2016-17, I was paying between $300 and $550 per quarter and now average $150 per quarter although I'm a single pensioner. If I was looking for a system now, they advertise 6.6kw for about $4500 and there was a battery system reduced from $12000 to about $4500 as well, so I would be better off if I buy now.
 
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If you get 6-9 cents per kwh for what you feed in, that's what is called a credit as well as what you use during the day. I think you might need to read your electricity bill a bit closer.

There are systems out there that are cheaper and just as reliable. Mine cost $4500 in 2018 and have saved $3k plus what I've use during the day. How much I've saved during the day is unknown however in 2016-17, I was paying between $300 and $550 per quarter and now average $150 per quarter although I'm a single pensioner. If I was looking for a system now, they advertise 6.6kw for about $4500 and there was a battery system reduced from $12000 to about $4500 as well, so I would be better off if I buy now.
Thanks for replying! I may need to investigate when/if i ever have a spare/cool 8 or 9k lying around to invest lol
 
If you get 6-9 cents per kwh for what you feed in, that's what is called a credit as well as what you use during the day. I think you might need to read your electricity bill a bit closer.

There are systems out there that are cheaper and just as reliable. Mine cost $4500 in 2018 and have saved $3k plus what I've use during the day. How much I've saved during the day is unknown however in 2016-17, I was paying between $300 and $550 per quarter and now average $150 per quarter although I'm a single pensioner. If I was looking for a system now, they advertise 6.6kw for about $4500 and there was a battery system reduced from $12000 to about $4500 as well, so I would be better off if I buy now.
Here’s a run down on my 3 month Power bill ==usage $156-40, service and meter fees -$115-97, solar$36-36 . On one solar bill it paid $17-00 a quarter hardly earth shattering. As I said it is a waste of money.
 
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Here’s a run down on my 3 month Power bill ==usage $156-40, service and meter fees -$115-97, solar$36-36 . On one solar bill it paid $17-00 a quarter hardly earth shattering. As I said it is a waste of money.
There will always be a service or metering fees but it's the usage that counts. Before solar was put on, compare the amount of electricity used and hopefully your usage should be less. This is where the saving is!
 
There will always be a service or metering fees but it's the usage that counts. Before solar was put on, compare the amount of electricity used and hopefully your usage should be less. This is where the saving is!
Solar makes little difference ,it I s only if you have lots of panels. Solarhart went through my power usage and put on what they worked out I would need .I am not a big user of electricity.
 

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