Why are my energy rates changing?
We need to adjust your energy rates in line with network and wholesale costs. Like most energy companies we do this sometime around December or January each year. Our policy has always been to send a written notification whenever we change our rates in order to give our valued customers as much notice as possible. Our blog explains more about what's driving energy prices in Australia at the moment
Why are my rates going up and then down?
As a retailer, we need to buy power from the wholesale market. Currently wholesale electricity prices are volatile. To protect us and you against this volatility we hedge (lock-in) the rate we pay for power on the futures market. We have secured fantastic low rates for our customers for the majority of 2019.
Unfortunately the contract doesn't start immediately. It begins on 1 April. Until then, the cost of power will be higher. This is mainly because of the drought which makes generating power with hydro more expensive. We hope you will forgive the short-term pain of higher rates for the long-term benefit of low rates for the rest of the year with no further rate changes until at least 2020 guaranteed. Our blog explains more about what's driving energy prices in Australia at the moment.
Can I switch to another retailer to avoid the short term price hike?
Yes you can. Although we can't control the wholesale market, we have always been upfront with our customers. Without you, there is no us. GloBird don't have lock-in contracts, so you can come and go without penalty. If you want to avoid the higher rates for the first few months of the year, you can switch to another retailer and then come back later. We want you to have the best rates possible and we completely understand if you shop around.
My rates in summer look kind of high, why is that?
We have secured fantastic low rates for you for the majority of 2019. Unfortunately these low rates won't be available until 1 April. Until then, the underlying cost of power is high. The wholesale market is driven by the laws of supply and demand. If there is lots of dispatchable power available, then prices will be lower. Unfortunately, the drought that has been affecting Australian farmers is also affecting hydro generation. There simply isn't enough water to generate the amount of power needed to match demand. On a more positive note, your rates for the rest of the year are very low with no further rate changes until at least 2020 guaranteed. Our blog explains more about what's driving energy prices in Australia at the moment.
Is GloBird still the best provider for me?
Most energy companies change their rates around December, January, or in some cases early February. We publish our rates early to give our customers as much notice as possible. Be careful when comparing rates at this time of year; make sure you're looking at the new 2019 rates from any of our competitors so you're comparing apples with apples. GloBird proudly won Mozo's Best Rate in Victoria for 2017, again in 2018, and we aim to win this award every year. As always our 2019 rates will prove to be very competitive after the chaos of the price change season subsides. Our blog explains more about what's driving energy prices in Australia at the moment.
How can I be sure the price change is fair?
GloBird doesn't have lock in contracts, so we won't just change your price unless it's absolutely necessary. It's simply not in our interests to do so. The underlying cost of power is an Australia-wide issue. Our blog explains more about what's driving energy prices in Australia at the moment. As always, although rates have increased for the first few months of 2019, the rest of the year is where you'll make real savings, and you'll see that GloBird has locked in extremely competitive rates over the long run, with no further rate increases until at least 2020 guaranteed. Please let us know if you have any questions. You can contact us on CustomerService@GloBirdEnergy.com.au