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659 posts

Ultimate Geek


# 258703 16-Oct-2019 16:02
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I'm a mercury energy customer and have been offered a 2 year fixed price deal i.e. no price increases for two years - is this a good deal?





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  # 2338231 16-Oct-2019 16:19
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Mercury are a complete rort. I had originally shifted from Meridian to Mercury because they were cheaper. Mercury started increasing prices and supposedly doing me a favour by locking in at special rate for 2? years. Turns out I ended up on rates higher than Meridian. I took the $150 penalty and went back to Meridian.


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  # 2338234 16-Oct-2019 16:23
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I was offered good rates on a 1 year term that noone else would match and when it ran out the rates went to their standard ones which were still less than I was on with genesis before moving to mercury.





Richard rich.ms

 
 
 
 


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  # 2338236 16-Oct-2019 16:27
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Last time I did the math, I decided it wasn't [for me].

YMMV.

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Master Geek


  # 2338240 16-Oct-2019 16:46
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Electricity pricing plans are strange. The last time I looked it fixed term contracts I discovered that the rate over that time was higher than the standard rate. Made no sense to me at the time.

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  # 2338248 16-Oct-2019 17:02
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dunnersdude: Electricity pricing plans are strange. The last time I looked it fixed term contracts I discovered that the rate over that time was higher than the standard rate. Made no sense to me at the time.

 

They are counting on people believing that the historic increases in power mean that it will keep on doing that in the future to lock in todays price before it goes up.





Richard rich.ms

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  # 2338299 16-Oct-2019 17:16
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The increased use of LEDs and other increases in efficiency will likely keep a cap on near term residential demand growth, and there is a bit more generation coming on stream in the next 1-2 years (Mercury and Genesis Windfarms), so its unlikely that prices are going up much...

 

On the other hand I'm  Mercury shareholder,  so you should probably take it   :) :) :)


717 posts

Ultimate Geek


  # 2338305 16-Oct-2019 17:26
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As soon as a company offers me this type of deal I have a look around. It's a reasonable sign you may not be getting the best price you could.

Since a lot of rates are driven by supply v demand, I'll just leave this here:
Click to see full size

Now I personally doubt prices are going to fall off a cliff or anything but I'd be surprised if they went up much in the foreseeable future.

 
 
 
 


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  # 2338340 16-Oct-2019 17:54
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richms:

 

I was offered good rates on a 1 year term that noone else would match and when it ran out the rates went to their standard ones which were still less than I was on with genesis before moving to mercury.

 

 

I find that strange , because I am with genesis and they are the cheapest I could find at the time (although I am with power and gas). I note that my contract has expired, I'll have to renegotiate or move to a new supplier now.


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  # 2338351 16-Oct-2019 18:05
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The power switch website should give you a good idea what is the best value in your location, and whether you are buying both power and gas.


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  # 2338398 16-Oct-2019 19:42
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Dulouz:

 

I'm a mercury energy customer and have been offered a 2 year fixed price deal i.e. no price increases for two years - is this a good deal?

 

 

Who can tell if it is a good deal if we don't have any numbers to work compare with what's available: your current annual plan, usage, prices and discounts and their offered plan, prices and discounts.

 

Re Mercury, they have had some excellent prices for high users. When I chose to leave for a lower price, they offered me a deal fixed for two years that would beat anything else I've seen since then.

 

They only make their best offer once you start the move to another company.

 

 


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  # 2338401 16-Oct-2019 19:51
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Hammerer:

 

They only make their best offer once you start the move to another company.

 

 

And the nutty government wants to stop that form of negotiation with changes to the power industry.





Richard rich.ms

95 posts

Master Geek


  # 2338405 16-Oct-2019 20:05
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Does anyone have any idea how to compare prices for power for commercial property, without contacting the companies individually? Thanks!


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  # 2338456 16-Oct-2019 21:52
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Are the energy companies prices all about the same? There are only a few commercial providers?





The little things make the biggest difference.


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  # 2338512 16-Oct-2019 22:17
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What else did they offer you for the 2 year term?
We had a term finish this year and they were going to automatically roll it over again on another contract with no benefits other than the fixed price. Completely BS.

Rang them and said if I don’t get something out of it what’s the point of a contract. They offered $200 credit and an extra 5% prompt payment discount. Pretty annoyed I’d have missed out on that if we didn’t bother asking, and I’d have left if it didn’t make it cheaper for us in the long run.

Ask for a better deal you’re getting ripped off.

729 posts

Ultimate Geek


  # 2338547 17-Oct-2019 00:11
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We checked Powerswitch 6 months back which showed Meridian had the best deal for our use case - so we started the move from Mercury to Meridian.

 

Mercury's retention team kicked in - offered a $300 Credit and increased the discount to 22% - so they became the cheapest - so I stayed with them.

 

 


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