Energy company tells customers to leave before prices skyrocket

ReAmped Energy CEO Luke Blincoe said his unusual warning to 70,000 customers is just the cold hard reality of a major spike inon the maximum providers can charge households and businesses.

"We thought we would be upfront and tell our customers to get the best deal they would have to leave us.Blincoe denied he was essentially killing off his business, instead saying it would be "shabby" to not be upfront about the likely doubling of bills."We are preserving our business by maintaining the trust of our customers in what is an unprecedented period of time," he said.

at least there honest

always the risk with these 'come to us for a great price' energy retailers who have no generation capability and wholesale prices shift dramatically.

9NewsMelb People are so dumb, they don’t understand “supply & demand law” when it comes to wind renewables. If there is no wind then electricity MUST be purchased/supplied from elsewhere or their are blackouts. Look at how well Germany’s 150,000MW of wind is doing.

A company not playing political games with customers. Hang on a minute, this must be a dream! It has my vote for being honest in today's world 🌎

9NewsQueensland It’s also very advantageous for the company as they are not left exposed to the spot price if there hedging is out (as i suspect) 🤷‍♂️

Australia is self-sufficient?

9NewsMelb Thankfully Albo will fix it, he promised to lower the cost of living and increasing wages, can’t wait to be paid more.

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‘Chaos and pain’: wholesale gas prices capped in energy marketAustralian Industry Group chief executive Innes Willox described the energy price rises across the country as “apocalyptic”. as a big exporter we are NOT benefiting local consumers The gas miners r making most of the profit n they dont pay tax We r being ripped off twice We need local reserve 15% plus domestic discount 20% Across the world, actually. Kind of dramatic like winter being called a polar blast…bushfires are wildfire etc. yawn.
Source: FinancialReview - 🏆 2. / 90 Read more »