Updated electricity rates SEQ – August 2020
A number of retailers have updated their rates this financial year including usage and supply charges as well as the all-important feed in rate for electricity returned to the grid. Some have also introduced a daily solar meter charge following suit from Origin Energy (note this is roughly $20-30 per year).
So, if you have solar panels in stalled in SE QLD and want to get the most out of it, which tariff is the best?
At the time of writing the highest possible feed in tariff is being provided by Energy Australia through their ‘On’ trial. The rate per kWh returned to the grid is 18c with a limit on the size of the inverter being 8kW or less. Their rate per kWh taken from the grid and daily supply charge is competitive making this a great option for 12 months.
To compare evenly with a few retailers, we’ll use the following example figures from a fairly typical quarterly bill with solar:
- 92 days
- 10kWh per day consumed from the grid
- 15kWh per returned to the grid
Let’s run some an example using the ‘On’ plan from Energy Australia:
Daily supply charge + solar meter charge – 105.6c per day
Usage charge – 24.926c per kWh
Solar feed in rate – 18c per kWh
92 days x $1.056 = $97.15
10kWh per day x $0.24926 = x 92 days = $229.32
Charge on bill = $326.47
Feed in tariff = 15kWh per day x $0.18 x 92 days = $248.40cr
Final quarterly bill = $326.47 – $248.40 = $78.07
Now, let’s run the AGL numbers:
AGL have reviewed their tariffs this month, they were considerably ahead of the game with their 17c feed in tariff rate in 2020 and unless our clients were likely to send back a very low amount of power, the clear choice to switch to after installing solar energy. They still retain a strong 15c tariff but this is limited to the first 9kWh sent back to the grid each day, once exceeded the rate reduces to 9.5c per kWh. This is particularly relevant as we move towards Summer and the higher production this offers and in most instances a greater amount of power returned to the grid. The below are the new rates AGL provide:
Daily supply charge + solar meter charge – 125.62c per day
Usage charge – 24.04c per kWh
Solar feed in rate – 15c per kWh (first 9kWh), ongoing rate 9.5c per kWh
92 days x $1.2562 = $115.57
10kWh per day x $0.2404 = x 92 days = $240.40
Charge on bill = $355.57
Feed in tariff = 9kWh per day x $0.15 x 92 days = $124.20cr
6 kWh x $0.095 x 92 days = $57cr
Final quarterly bill = $355.57 – $181.20 = $174.37
By choosing the ‘On’ plan from Energy Australia you will be $96.30 better off each quarter during their 12-month plan. Please note each home consumes power differently and it is worth comparing your exact figures online using a website such as Wattever.com.au. We are always happy to assist with ensuring you have the correct plan to provide you with the best possible return from your investment.
Every home energy bill will be different in terms of how much electricity you use, and how much goes back to the grid for a feed in tariff. To do a comparison for your own home we have found this site the most effective: wattever.com.au/compare/
Some other links you may find useful: