Amber Electric
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Price Spikes ruin the whole concept!
Price Spikes ruin the whole concept! You save a few cents in general by buying wholesale, but when a price spike occurs (Eg. very hot day) it completely wipes out any savings you make because the price spike cost is ridiculously high (over $10/kWh...yes over $10, that’s not a typo!) and this can happen multiple times on a hot week in Sydney as just happened this Nov 2020. You’re suggested to turn off all air conditioning and high power appliances during a price spike. What’s the point of my air conditioner if I can’t even use it when I need it most? I’m switching back to a flat rate of under 20c/kWh with a different provider so I don’t need to worry about these ridiculously high price spikes. This might suit some people but not for me. To be fair, they do offer a refund if you end up paying over the default market offer (price) during the course of the year...but seriously I’m not waiting one year. There needs to be a better protection mechanism for price spikes. I thought prices may double or triple but not go from 20c to over $10 kWh...really?