We've got you covered with our Bill Guarantee.
We pass through the 30 minute wholesale electricity prices to you directly, and over the long-term this is typically a competitive offer, but to give you peace of mind we guarantee that over the course of each quarter you'll never pay more than our Bill Guarantee rates on average for the wholesale usage component of your bill, or we will credit you the difference.
The Bill Guarantee has always provided protection from a period of high wholesale prices, and acted to reduce the wholesale component on your bill. You can see this component under “Detailed Charges” on Page 3 of your bill, labeled as “General Usage Wholesale (Av. Price)”. If you have a controlled load, the guarantee will also cover the wholesale component of this channel, labeled as “Controlled Load Wholesale (Av. Price)”.
A couple of weeks before the start of each quarter, we will share and calculate the Bill Guarantee directly against this component so you can see the maximum average price you will incur for the “Wholesale (Av. Price)” part of your bill for the quarter. We will also share the overall average this guarantee would imply if you are on a flat rate tariff to compare to other offers or the Government reference price. Winter months tend to have slightly higher and more volatile prices on average, so the guarantee rates that cover winter months will likely be higher than those that cover summer months.
You can find the Bill Guarantee rates for the current quarter here for customers in Victoria and here for customers outside Victoria.
There’s nothing you need to do to take advantage of this additional protection as we monitor it all for you in the background. We need to wait until the quarter has concluded, to work out your average usage rate and then our team will process the final calculations.
If you become eligible for a credit under our bill guarantee, we will apply this credit to your account approximately one month after the end of the quarter and it will appear in the credits section on your subsequent bill.
Similar to last financial year, our Bill Guarantee rates that are set quarterly will be the same no matter how much power you use (there are no usage thresholds).
You can use Bill Guarantee rates as a benchmark for the maximum wholesale usage price you'd pay with Amber on average over each quarter, but over the long term you should expect to pay much less on our wholesale prices, especially if you make efforts to avoid high usage in peak price times.
For more information on the guarantee works if you have solar or export to the grid, read our guide here.
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