40% of large businesses and 21% of SMEs are unhappy with their current energy contracts.
Costly rates, inflexibility, and a lack of options to better control their energy usage their chief causes for complaint. 62% of businesses overall would be willing to switch over to a new electricity provider if they were given more options.
Over 300 business decision makers’ responses across all states and territories are revealed in a new survey commissioned by electricity retailer and energy management firm Flow Power.
What are the findings of Flow Power’s survey?
Flow Power CEO Matthew van der Linden says: “Our findings come when renewable energy is more available to Australian businesses and yet businesses feel shut out of the market.”
“Our position at Flow Power is to ‘open the doors’ to sustainable power and pricing flexibility, so that organisations can access energy tailored to their needs and when prices are low, thereby reducing their costs. The solutions are already there.”
“Flexibility is hugely important to many businesses. 46% of survey respondents told us that they would be prepared to pay an additional 2 – 3% above market rate in their electricity contract to enable them to pay a lower rate when the market price dips,” says Matthew.
Flow Power has responded to these demands offering a new generation of energy contracts that offer unprecedented flexibility and access to cheaper renewables pricing.
From April-December 2020, any business that was signed up to Flow Power’s Power Active plan with the Active Option saved between seven and 28% on their base energy rates.
Organisations can take back control of their energy usage by rewarding business who shift the times they use energy to when rates are cheaper, such as solar hours during daytime.
Few organisations have time to track price movements in the energy market especially SMEs. Flow Power’s Energy Ready low-cost, monthly energy advisory service has been very popular.
It provides regular access to a team of industry-leading energy advisers and is combined with Flow Power’s unique technology kWatch®.
Installed on site, kWatch tracks energy usage in real time to offer data on tap, and with the Energy Ready add-on, the ability to opt into alerts for savings opportunities.
Relevance of Flow Power’s survey findings
The Grange Golf Club in South Australia is a Flow Power customer.
Looking for a smarter way to save on energy costs, the Club signed up for the Power Active plan this year and is set to save up to 10% on its energy rates.
Barry Linke, the club’s GM, loves the versatility of Active Option, “There’s flexibility to move to lower prices when the market decreases. I haven’t seen in past electricity contracts. Because of our savings, we’ve decided to extend beyond the original term with Flow Power.”
Flow Power has grown its customers by an average of 64% annually since 2017.
In 2020 Flow Power experienced its most successful year to date with the new Power Active product, exceeding its 2019 customer volumes by 100%.