FAQsFrequently asked questions
Must I understand the energy market to use Business Energy Marketplace?
No, Business Energy Marketplace breaks down the market costs for you and takes the guess work out of trying to compare offers, leaving you free to make an informed decision about your new contract.
How long does the whole process take?
Using Business Energy Marketplace is very quick and easy. It takes an average of 15 minutes to register, get quotes, compare, choose and sign up.
What information do I need to get a quote?
All you need is a copy of your most recent bill and your past 12 month’s energy consumption. You can get your past 12 month’s energy consumption in several ways:
- You can calculate it from your energy bills.
- If you use a web service from your metering or energy retailer, you can obtain it there.
- Ask your current energy retailer to provide it to you.
How are other costs such as network charges dealt with?
Costs that are outside of those that form part of your contract with the retailer are referred to as Pass Through or Regulated costs. These costs are the same from retailer to retailer and are passed onto you free of margin from the retailer. Business Energy Marketplace provides you with insight into what these expected costs will be.
What’s a DMA (Direct Metering Agreement)?
A DMA is a metering agreement which a broker would generally enter into with a customer. These agreements can be very expensive and unnecessary, while the DMA may provide web based insight to a customer, most retailers provide similar insights through their own web based products which is already included in your price. Business Energy Marketplace will let you know which retailers provide this service. The average metering cost from a retailer is $80 a month. If you are paying more than this, please query this with your retailer.
What if I don’t have my DMA (Direct Metering Agreement) contract end date?
If you do not know your Direct Metering Agreement contract end date, your selected retailer will obtain your DMA details from the metering provider on your behalf.
Are the renewable charges quoted in the same manner?
Renewable charges can often be quoted in different ways which is confusing when trying to compare offers. Business Energy Marketplace will take the guess work out of this by having all retailers quote under the same methodology, so you can make an apples for apples comparison.
How do I know I’m getting a good deal?
Business Energy Marketplace provides an independent platform, that encourages and supports market competitiveness. Retailers do not have visibility of each other’s offers. They simply bid for your business by putting their best foot forward, and only you get to compare and choose the best available deal for your needs.
How do I know this process is impartial?
Business Energy Marketplace simply takes all offers provided by retailers and provides them to you directly, free of trailing or hidden commission, or any alteration or adjustment. What the retailers provide is what you get.
Why aren’t all retailers involved?
Business Energy Marketplace allows and encourages all and any retailers to participate in the platform. Some may choose not to participate, but the majority are represented and support this approach wholeheartedly.
Why does Business Energy Marketplace charge to do this?
To operate our business, and maintain the platform, we need to collect a small one off fee for our service. We run a lean operation and keep costs low, by leveraging digital technology as far as possible, but we do have some costs we must cover.
How does Business Energy Marketplace make its money?
Business Energy Marketplace charges the customer a small one off fee of $150 for the service. We also receive aa small commission from the winning retailer. This fee amount is consistent across all retailers. The value of this commission is $260 per contract.
What does Business Energy Marketplace do with my information?
Business Energy Marketplace provides your information to the successful retailer so they can fulfill your contract and transfer your site.
Once I accept a contract, is it final?
Yes. When accepting a contract it binds you and your selected retailer for the term selected.
What is Load Variance?
Electricity contracts have an upper and lower limit condition of how much your actual consumption will vary from your contracted consumption. To ensure quoting transparency and that you have a quote tailored to your needs you can select which % variance you’d like, ie: if you think your consumption will remain consistent then select a lower % or if you think it will increase or decrease over your contract, then select a % that you feel it will vary by. Keeping in mind retailers may charge a higher contract energy rate for a greater % variance.
What happens if I get the Load Variance wrong?
Retailers may elect to charge you a penalty if you go outside of the consumption variance % selected, if you’re unclear as to what your consumption might vary by, best to select the unlimited option.
What if I have solar installed?
You can still use the platform to secure your energy contract. The successful retailer will provide you with the required contract variation or agreement specific to your solar needs once they have been selected.