Right now in Australia, we are seeing some smaller electricity retailers being forced out of the market and voluntarily shedding customers. One example came this week, when ReAmped Energy told customers they should leave because bills were set to double.
These sorts of retailers have gained a few percent of the overall market by offering cheap prices via wholesale purchases on the electricity spot market, which is usually cheaper than arranging supplies through long-term contracts with generators.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk