The Tasmanian Renewable Energy Alliance welcome the arrival of a second competitor in the retail electricity market but said consumers will need to check if new offers make sense in their circumstances.
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1st Energy are offering tariffs that closely match Aurora with the choice of a 5 per cent pay-on-time discount or, for those with solar, an extra 5 cents on their feed-in tariff.
Households using the 5 per cent discount plan would need to spend over $3300 a year on electricity and be able to pay bills promptly to receive the $150 a year benefit with 1st Energy, TREA said.
TREA said the extra 5 cents feed-in tariff will be welcomed by solar owners who export a significant proportion of their solar generation but that the best value is always to maximise self-consumption.
The offers from new retailer 1st Energy, together with the introduction of the sonnen flat product last year mark the tentative beginning of a shake-up of electricity retailing, TREA said.
The sonnen flat product offers fixed priced electrical contracts for solar owners who purchase a sonnen battery.
TREA said with changing tariff structures and new battery and energy management technology they look forward to more competition in the Tasmanian market based on innovation, not just price.