Our Energy Reverse Auctions encourage energy retailers to bid to win our customer's energy contracts. Unlike
normal auctions (where prices rise with every bid), each bid received in our Energy Reverse Auctions lowers the
price our customers pay for their energy.
Your new energy contract can start when your existing contract expires, this can be between the next 30 days to 12 months or longer, depending on how early you start this process.
We collect your energy data and create your contract. We encourage energy retailers to bid to win your contract.
Every bid pushes down the price you’ll pay for energy. The retailer who will accept the lowest price wins.
We help organise your contract. You can start your new contract when you’re existing one finishes.
International thermal energy prices are high because some countries are substituting Russian oil and gas for more politically acceptable sources. And Australia offers gas untainted by conflict. Because we export gas as Liquefied Natural Gas (LNG) our domestic gas market prices are connected to international prices. In the East Coast LNG exporters don’t have to reserve any gas for the domestic market. So East Coast buyers are being hit by high prices and a lack of gas.
This impacts electricity prices because our generation mix includes gas generators. Gas generators are usually the highest-cost suppliers.
We’re also getting high electricity wholesale prices because it’s wintertime, there’s less solar generated electricity going into the grid, 30% of coal fired generation is off line because of maintenance or accidents, and gas generators are being called on to supply the grid even though their costs are even higher than normal because of those high international prices.
In today’s environment, where prices are going up, it’s within most company’s best interests to have more than one retailer offer them a price for their energy contract.
In the thousands of our Energy Reverse Auction we’ve run, we typically find at least more than one retailer will bid to win your contract, and the more bids that are placed the lower the price you’ll pay.
Due to all the market uncertainty and volatility we’re seeing at the moment, energy retailers like our Energy Reverse Auctions because they get a reasonably accurately idea of how much energy you’re going to require over the duration of your contract – which helps them with their long-term buying strategies.
Our Energy Reverse Auctions are amongst the fastest ways to secure a new contract. They usually take around 10 minutes and require a minimal amount of effort from you!