This quarterly update is intended to provide you with information on how energy is supplied to you, the factors influencing the energy market, as well as how Simply Energy is listening to customer feedback to improve our service. Engaging and listening to you is aligned to our vision: To be your trusted energy partner providing simple, affordable solutions to enable you to feel more in control of your energy. During the second half of this year, Simply Energy will begin rolling out a series of new products to help our customers use their energy in a smart way, improving their energy efficiency and reduce costs.
We look forward to discussing your energy needs and how we can collaborate to support your business. Should you have any specific queries, please contact your account manager.
Substantial reforms are under way to the National Electricity Market (NEM) following recommendations by the Australian Energy Market Commission’s Power of Choice review.
The reforms provide opportunities for consumers to make informed choices about the way they use electricity based on the benefits that some services provide. The first wave of changes taking effect from 1 December, 2017.
At Simply Energy, we are preparing for these changes by upgrading our systems to enable you to take advantage of the reforms.
Our team will be in contact with you, should the changes affect you, which will include nomination of your Metering Coordinator and other items before 1 December, 2017.
The National Electricity Market (NEM) is one of the most volatile markets in the world, being a “merchant market” with wholesale prices settled on a half hourly basis.
Volatility of energy prices in the NEM can be caused by numerous factors: weather, load, generator and fuel availability, amongst others.
Some recent influences on NEM prices include:
Figure 1 Historic energy futures price contrasted against key generator events (source HVBroker).
Figure 2 Example of change in energy generation mix in SA relative to energy demand.
Figure 1 highlights some of the key events against energy futures pricing, with Figure 2 illustrating the energy transition that is occurring in South Australia (and being seen across other states).
For our South Australian customers, we would like to remind you that the South Australian State Government have announced a new scheme that should take effect from 1st January 2018, the Energy Security Target (“EST”).
Find out more about the South Australia Energy Security Target Scheme from:
Draft legislation to establish the scheme is currently being reviewed by the Government.