topic Re: Being ripped off in Energy - General

Being ripped off

JWoolley — Wed, 16 Oct 2024 00:59:37 GMT

I find it a hugh rip off when electricity companies buy excess power off you from solar a @ 7cents and now down to 5 cents a KWH but sell it back to you @ 34cants not even close. If they charge 34cents a kw shouldnt they also buy it back for the same price 34cent. since we pay to put the solar on not them and we pay for all the up keep of the unit. I guess its how the big people and govement get rich and the battlers get further behind (ripped off). Then they say we need more inforstructure so what would happen if every one that had solar stopped putting it back to the grid .?

What would they do then

Re: Being ripped off

Lester — Wed, 16 Oct 2024 02:16:23 GMT

Hi @JWoolley

In SA new plans with AGL now attract 3c feed in and just under 50c peak tariff, the highest of the Australian states / mainland territories.

Even with contracts just ending on the 5c or 6c FIT here in SA, the real benefit of solar now (and probably for a few years) is to self consume as much as possible during solar hours, OR get a battery setup to use that energy in peak / overnight periods.

I personally feel that sometime in the coming years, there won't be any FIT paid, until then it will just continue to drop.

A suitable battery, with a suitable solar system is required to future proof, it's another big investment, but I feel worth it as power prices will continue to rise year on year, and retailers can change terms pm [lans, power cos can change interval timings to try and reduce peoples peak time consumption (thanks to renewables policies with too fast a transition).

Those with older solar might need to upgrade to suitable system (size and components) to enable a battery to be added, so a double whammy . . . new solar systems are far better than those of the past, and many early systems are probably well past their best used by date anyway.

Energy prices are certainly tough to cope with for many now, and it's the same in almost all western countries too, hmmm 😕

Re: Being ripped off

JWoolley — Wed, 16 Oct 2024 02:28:53 GMT

Hi
It wasn't about getting solar and a battery as i have both it was about the
price we pay and the price they pay should be more even. Not have to go out
and pay a fortune to upgrade or get solar or batteries

Re: Being ripped off

Lester — Wed, 16 Oct 2024 02:46:07 GMT

Yep, they just blame the old network and need to upgrade for renewables etc.

So yeah, here the 3c / 48c things is 16 x difference, it is a rip off on the face of it.

Wouldn't you know it, AGL email virtually came through just now, from Nov 1 our fit is going from 6c to 4c, so yours was a very timely post 😕

Was hoping the 6c might last until just before Christmas, when our current plan expires.

Our solar is just coming up to a year from installation, and a battery will probably be going in now for end of summer.

We are neutral in summer, but will have to be just a little more careful to remain so with a drop of 30% in the FIT.

Re: Being ripped off

HughW — Thu, 17 Oct 2024 03:13:51 GMT

Cannot agree more. Actually, I pay $0.75/kW for electricity from the grid, but now get $0.05/kW for feed-in!!

If the rate is twice the amount of the other, I wouldn’t mind. But a difference of 15 times? How could you justify?

Re: Being ripped off

Lester — Thu, 17 Oct 2024 04:10:24 GMT

Geez @HughW where are you located ??

I know SA is pretty much the highest for power tariff rates in Australia, maybe you are very remote, and / or sparsely populated area ?