Should I "park my energy prices" with Genesis Energy?

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nakedmolerat

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#1053825 26-May-2014 18:27

My answer: NO

Honest answer: NO

My advice: NO

Batman

Mad Scientist
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#1053831 26-May-2014 18:35

Either way they win. They never lose.

mattwnz

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#1053845 26-May-2014 19:01

heavenlywild:

Yeah, I did just notice the $150 cancellation fee.

There's always better deals out there...and if it looks to good to be true...

Companies will never lose on a deal like this anyway. So even if prices do rise, they will likely raise them more for those who aren't parked on the lower fees, to compensate for those that are parked at a lower price. Otherwise they would lose money overall. So potentially those not parking on the lower price may end up paying more for their power than they would normally, so a good reason not to use a provider who offers this sort of scheme to customers. In a way I am a bit surprised they are allowed to offer such schemes, since power is a necessity.

21brandon21

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#1053975 26-May-2014 22:34

Don't do it. I rang up. They told me my bill only went up around 1c per unit or something rather in 1 year. It's not really worth it to be on a contract for 15 months. Plus you get a $150 disconnection fee.

kiwiharry

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#1054011 26-May-2014 23:38

I parked my power prices with a different power company about 12 months ago until Oct 2015. They offered me a $100 account credit when I fixed the rate.

I just checked my latest bill on the PowerSwitch website. Says I'm on the cheapest (like for like) plan, so at present it seems to be working for our household.

If you can't laugh at yourself then you probably shouldn't laugh at others.

ghettomaster

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#1054171 27-May-2014 10:19

I switched to Meridian a while ago because they offered 3 years fixed prices at a cent or so lower than I was paying Genesis at the time. One of the reasons I made the switch was that there was no early termination fee so I was free to switch companies again if prices dropped.

This being said that deal long since expired for me so it's probably time for me to shop around again. I concur with what has already been said - shop around because there is always deals to be done. Then again I also agree with my complacency which says if it's only going to save me $10 a month, can I be bothered? I'll bet a lot of people think like that. Then again cashback? A spare $100 is always handy. You could take a girl out for coffee with that!

kendog

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#1054586 27-May-2014 20:02

I locked in the rate with this offer.
Why wouldn't I?
I have never seen a reduction in power prices, but have seen plenty of increases.
I am not going to spend time shopping around to find a better rate.
I am not going to spend time swapping companies to save a little bit of money.

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