Amber has no fixed Feed-in Tariff (FiT). Instead, our real-time FiT is driven by the 30 minute wholesale price of energy. This is similar to how commercial operators are compensated for their generation, where supply and demand rules the day.
You can see the historical average monthly FiT in your area on our Pricing page.
We also pass through any government premiums on your FiT, in addition the 30 minute wholesale price of energy.
How Amber's fluctuating FiT works
When the wholesale price is low, your FiT is also lower. When the wholesale price is high, you get a higher FiT.
When the grid is oversupplied with energy, the wholesale price of energy can occasionally drop into the negative range, meaning that you are debited a for your exports.
But when the grid is undersupplied, your FiT can skyrocket. This is similar to how commercial operators are compensated for their generation, where supply and demand rules the day.
Why is the FiT different to the wholesale usage price?
Your FiT with Amber is the same amount that we pay the generators - the wholesale price of energy. We then need to pay additional costs to use the poles and wires, to deliver that power to your home. These cost of delivery fees are not included in your FiT.
Benefit from sky high demand
A few times a year, the wholesale price of electricity goes through the roof. This happens mainly on the hottest days of Summer, when aircons around the nation are running full bore and putting strain on the grid.
Meanwhile, rooftop solar is absolutely drenched in sunlight, helping to meet all the crazy demand. It’s at these times that your FiT can skyrocket. We see many customers with solar briefly earning a Feed-in tariff in excess of $1 per kWh during periods of peak demand.
We 💚 Negative Bills
Since we charge a flat membership fee, we can focus on getting your bills as low as possible. For our solar customers, we know that negative bills are the dream. If your bill is negative with us, first, we’ll both punch the air with excitement. Then you can choose whether to have the credit amount deposited into your bank account, or applied as a credit to your next bill.
Got a battery? 🔋
Most people with a battery tend to only need power from the grid late at night or early in the morning. These are the times when the wholesale price of energy tends to be at its cheapest, because demand is low and wind generation is often high.
Meanwhile, you'll be able to use your battery power during peak times when demand on the grid is higher and the wholesale price tends to be more expensive.
And if you're able to control your battery to charge from the grid when wholesale prices are low, or export to the grid when wholesale prices are high, you can save even more.
We're also developing SmartShift technology to automatically optimise household batteries to lower electricity costs and maximise the value of your exported energy. Watch this space.