Welcome to another issue of Savings as a Service, your monthly round-up of savings tips and energy industry news from the Bill Hero team.
This month we’ve been looking into the crystal ball to see some welcome forecasts on long term wholesale energy price declines.
Improving price per kW for solar, is continuing to drive down wholesale energy prices across the board
, even for non-solar households, and the long term outlook is for continuing retail price reduction.
While this is a very good thing for energy consumers in principle, it opens a new front in the energy confusopoly.
The point of comparison and switching used to be about mitigating the impact of inevitable price increases—its now more about making sure that you get the benefit of wholesale price decreases right away rather than waiting for your retailer to get around to passing through the savings.
Bill Hero stays on top of this for you by constantly checking every bill to see if there’s a better option in the marketplace for you.
Inevitably, retailers are much faster to offer better prices to new customers. They’re much slower to offer the same benefit to existing customers. That’s what we call the Loyalty Tax
If your retailer is slow to pass on the benefit, we’ll help you move on to a better priced plan.
Also this month, a cautionary tale on how switching might still not be enough. The energy industry loves to keep consumers confused, and goes to great lengths to make each customer account as profitable as they can, but they usually stop short of outright mis-selling of plans.
One enterprising energy consumer put this to the test by signing up for a specific plan, only to find that the retailer actually put him onto a different and considerably more expensive plan. See the article below for more I chose the best deal for my home. That’s not what I got
Bill Hero eliminates this issue by holding your retailer to account on every single bill, so even if the retailer accidently-on-purpose puts you on a worse priced plan, we’ll spot the discrepancy as soon as they issue the very first bill.
Also this month, some shout-outs to Bill Hero partners—you may not be aware that Bill Hero offers market-leading energy comparison and switching service through partnerships with large and small organisations. If you have access to an audience—large or small—you too can participate as a Bill Hero partner
, contact us
for more information, or just sign up as an affiliate partner
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