The past few years have seen a lot of attention around renewable energy development and the Renewable Energy Target (RET) in Australia. Recently an agreement was reached on a fixed target, and while it’s smaller than we’d hoped, the agreement can be considered a positive step forward.
A flow on effect from this agreement to encourage further investment in renewables is higher Renewable Energy Certificate (REC) prices. As such, our GreenPower premium has increased to reflect this outcome.
So from 1 August 2015, our GreenPower premium will change from 4.95c/kWh to 6c/kWh.
It’s not all bad news as 100% of this cost is passed on to support investment in Australian renewable energy.
I live in Victoria, what does this mean for me?
If you live in Victoria, from 1 August 2015 you will notice that all GreenPower products will now incorporate a 6c/kWh premium.
I live in New South Wales, what does this mean for me?
We recently contacted you with details about price changes to the electricity used in your business or home. If you live in NSW and you have a GreenPower product set as your default, this estimate will include the change in GreenPower product prices.
If you are a purchaser of GreenPower, you’ll notice an update to the products in your online account from 1 August 2015.
For details of our NSW price changes, head here.
I can’t afford GreenPower anymore.
The great thing about Powershop is that you have the option to buy as much, or as little, GreenPower as you like. This makes it accessible to a range of budgets and anyone who wants to contribute to Australia’s renewable energy future. Every little bit counts.
Why should I buy GreenPower?
Purchasing GreenPower minimises your home or business’ impact on the environment because you’re voluntarily purchasing additional RECs over and above the compulsory requirements set by the RET. This demonstrates a strong demand for renewables which leads to continued growth, investment and promotion of the renewable energy sector.
Plus, if you’re a business that purchases our GreenPower products, you’re eligible to use the GreenPower Customer Logo on your business and marketing materials to promote your commitment to the environment.
Your business can also be listed on the government GreenPower website as a GreenPower customer meaning you can receive a GreenPower promotional pack to promote your support of renewable energy. Just go to the GreenPower website once you have purchased a Powershop GreenPower product and apply to use the GreenPower Customer Logo.
Will the cost of GreenPower keep going up?
We aim to minimise the frequency of price changes, however with a variable wholesale cost it’s estimated price changes will most likely occur once every 12 months.
I have solar, does this affect me?
It only affects customers who purchase GreenPower products. Our solar feed-in rates remain unchanged.
If you have additional GreenPower queries or want to know more, visit our website www.powershop.com.au/renewables