1 00:00:00,120 --> 00:00:04,560 Speaker 1: Let's talk about electricity. We'll move away from batteries for 2 00:00:04,600 --> 00:00:08,200 Speaker 1: a tick. The RAA is getting into the power business. 3 00:00:08,240 --> 00:00:11,440 Speaker 1: The energy market set for a shock, they say. RAA 4 00:00:11,680 --> 00:00:17,000 Speaker 1: Energy officially launched, giving members access to an energy plan, 5 00:00:17,520 --> 00:00:21,160 Speaker 1: which should, in reading their release, save your money because 6 00:00:21,200 --> 00:00:26,480 Speaker 1: they don't intend doing any more than buying electricity and 7 00:00:26,520 --> 00:00:28,920 Speaker 1: selling it to you for the same price. They won't 8 00:00:28,920 --> 00:00:31,320 Speaker 1: make anything out of it apart from a monthly fee, 9 00:00:32,680 --> 00:00:36,840 Speaker 1: which sounds positive. Ben Owen, general manager Home and Energy 10 00:00:36,840 --> 00:00:40,639 Speaker 1: at the RAA, gooday, Ben, going good? Thank you. So 11 00:00:40,680 --> 00:00:44,520 Speaker 1: the RAA's decision. What you've heard enough people winging about 12 00:00:44,560 --> 00:00:46,720 Speaker 1: the price of electricity, thought you do something about it? 13 00:00:46,760 --> 00:00:48,720 Speaker 1: Is that where this has come from. 14 00:00:49,680 --> 00:00:52,760 Speaker 2: Yeah, Look, our members are facing costs of living pressures 15 00:00:52,800 --> 00:00:55,200 Speaker 2: and we know that and that's something that's been communicated 16 00:00:55,240 --> 00:00:57,640 Speaker 2: to us. The energy market's complex. Most people don't have 17 00:00:57,680 --> 00:01:00,400 Speaker 2: the time to understand it to shop around, and energy 18 00:01:00,440 --> 00:01:01,960 Speaker 2: is designed helps you out to show and stave on 19 00:01:02,040 --> 00:01:04,399 Speaker 2: electricity bills. So how am we cutting hundreds of dollars 20 00:01:04,760 --> 00:01:05,919 Speaker 2: by eliminating tower markup? 21 00:01:06,040 --> 00:01:06,720 Speaker 1: How will it work? 22 00:01:08,040 --> 00:01:10,800 Speaker 2: So in essence, we don't profit from electricity that our 23 00:01:10,840 --> 00:01:13,199 Speaker 2: members will use. The powers passed on it a cost 24 00:01:13,319 --> 00:01:15,000 Speaker 2: we only charge a month we see of twenty four 25 00:01:15,000 --> 00:01:17,399 Speaker 2: to ninety five, and that's just to cover our costs. 26 00:01:17,840 --> 00:01:19,680 Speaker 1: How long will it stay twenty four to ninety five? 27 00:01:21,440 --> 00:01:23,040 Speaker 2: We are at this point in time at twenty four 28 00:01:23,120 --> 00:01:25,160 Speaker 2: ninety five and no intention to a reviewer increase. 29 00:01:25,319 --> 00:01:28,600 Speaker 1: Okay, all right, so where do you buy the electricity from? 30 00:01:28,640 --> 00:01:31,880 Speaker 1: Who's got electricity for sale? Yeah? 31 00:01:31,920 --> 00:01:35,040 Speaker 2: So we take a hedging position and we use a 32 00:01:35,080 --> 00:01:38,120 Speaker 2: we're not an energy retailer license in that context, so 33 00:01:38,160 --> 00:01:40,560 Speaker 2: we use the services of energy retailers to help us 34 00:01:40,600 --> 00:01:41,480 Speaker 2: with our hedging strategy. 35 00:01:41,840 --> 00:01:47,040 Speaker 1: Okay, so you get a supply, Now, it's not stored anywhere. 36 00:01:47,040 --> 00:01:49,000 Speaker 1: It's got to be generated at the time, doesn't it. 37 00:01:49,280 --> 00:01:51,000 Speaker 1: Or is it stored in a battery that we're talking 38 00:01:51,000 --> 00:01:54,000 Speaker 1: about battery storage? You know, you're getting it out of 39 00:01:54,000 --> 00:01:57,360 Speaker 1: the grid obviously it's there all the time. You're just 40 00:01:57,480 --> 00:02:00,680 Speaker 1: charging an amount for what comes down the power line. Yeah. 41 00:02:00,720 --> 00:02:02,880 Speaker 2: So the hedging solution we take goes out for a 42 00:02:02,880 --> 00:02:05,200 Speaker 2: twelve months period and we take that in the hedging 43 00:02:05,200 --> 00:02:08,840 Speaker 2: market and then in essence, we have our position that 44 00:02:08,880 --> 00:02:10,639 Speaker 2: we know our cost starre for that period of time 45 00:02:10,680 --> 00:02:14,560 Speaker 2: and we basically that energy use that people use, they're 46 00:02:14,600 --> 00:02:18,320 Speaker 2: paying that that fee that we essentially are incurring on 47 00:02:18,360 --> 00:02:21,239 Speaker 2: our aging strategy. We just simply pass a monthly fee 48 00:02:21,240 --> 00:02:23,040 Speaker 2: on a twenty four ninety five to cover our cost 49 00:02:23,240 --> 00:02:23,760 Speaker 2: and operation. 50 00:02:23,919 --> 00:02:27,760 Speaker 1: All right, And that twenty five bucks that's cheaper plus 51 00:02:27,800 --> 00:02:29,960 Speaker 1: your bill than what people will be paying at the moment. 52 00:02:30,720 --> 00:02:32,120 Speaker 2: Well, I think I think the important point is the 53 00:02:32,120 --> 00:02:35,000 Speaker 2: subscription fee is designed, as I mentioned before, to cover 54 00:02:35,040 --> 00:02:37,080 Speaker 2: our cost, but we're trying to keep that separate from 55 00:02:37,080 --> 00:02:40,079 Speaker 2: the actual energy usage that people pay direct. So it's 56 00:02:40,160 --> 00:02:44,120 Speaker 2: really transparent pricing, no markups, no gimmicks, and we're we're 57 00:02:44,160 --> 00:02:47,079 Speaker 2: not about discounting and providing those things to retain. It's 58 00:02:47,080 --> 00:02:50,280 Speaker 2: really providing the most transparent pricing we can from members. Okay, 59 00:02:50,880 --> 00:02:52,600 Speaker 2: as I mentioned before, there's been a bit of erosion 60 00:02:52,600 --> 00:02:54,840 Speaker 2: we consumer trust in this space, and we feel we 61 00:02:54,880 --> 00:02:56,920 Speaker 2: can add our trust, real liability. What we're doing in 62 00:02:57,240 --> 00:02:57,960 Speaker 2: ye what our. 63 00:02:57,880 --> 00:03:01,480 Speaker 1: Members who'd benefit most your plan? Ben? Would it be 64 00:03:01,720 --> 00:03:04,799 Speaker 1: high energy users? Low energy users? There's got to be 65 00:03:04,800 --> 00:03:06,840 Speaker 1: a balance somewhere, a tipping point, doesn't there. 66 00:03:07,560 --> 00:03:11,400 Speaker 2: Yeah, So our energy targets medium to high energy users 67 00:03:11,400 --> 00:03:13,800 Speaker 2: such as Famili's households that use heating and calling regularly, 68 00:03:13,840 --> 00:03:16,440 Speaker 2: providing peak rate savings where it counts the most. So 69 00:03:16,880 --> 00:03:19,400 Speaker 2: we're not it may not be for everybody, but the 70 00:03:19,639 --> 00:03:21,720 Speaker 2: plan that we're targeting is those that at a high 71 00:03:21,760 --> 00:03:25,720 Speaker 2: enage users and medium to high and would likely benefit 72 00:03:25,800 --> 00:03:26,680 Speaker 2: the most in that instance. 73 00:03:26,760 --> 00:03:28,280 Speaker 1: Okay, what's the peak rate? 74 00:03:29,800 --> 00:03:32,720 Speaker 2: So our peak rate is forty one point sixty seven 75 00:03:33,560 --> 00:03:35,480 Speaker 2: and that's lower than a number of providers in the 76 00:03:35,480 --> 00:03:36,640 Speaker 2: market at this point in time. 77 00:03:36,720 --> 00:03:39,360 Speaker 1: All right, but then you've got the twenty five dollars 78 00:03:39,720 --> 00:03:42,040 Speaker 1: monthly fee on top of that. So I'm just wondering 79 00:03:42,360 --> 00:03:45,360 Speaker 1: if you'd be if people would be better off with that. 80 00:03:45,680 --> 00:03:48,640 Speaker 1: I mean, if I think of my bill, yes, forty 81 00:03:48,680 --> 00:03:50,400 Speaker 1: one is better. I think I'm around the forty three 82 00:03:50,560 --> 00:03:55,440 Speaker 1: forty four sense, so I but then I've got the 83 00:03:55,440 --> 00:03:58,680 Speaker 1: twenty five dollar fee on top, so am I batter? Well? 84 00:03:58,720 --> 00:04:00,480 Speaker 2: The thing tonight there is a twenty four or ninety 85 00:04:00,480 --> 00:04:04,560 Speaker 2: five feet also covers the personalized energy insights that we're providing, 86 00:04:04,600 --> 00:04:08,320 Speaker 2: and so we're developing capabilities there. And so the idea 87 00:04:08,400 --> 00:04:11,520 Speaker 2: is that we will be providing members on ways to 88 00:04:11,560 --> 00:04:14,280 Speaker 2: save on their bills, how to reduce their oval energy consumption, 89 00:04:14,640 --> 00:04:17,360 Speaker 2: benefiting both their wallets and environment. So the personalized insights 90 00:04:17,360 --> 00:04:19,240 Speaker 2: are something that we're focused on and we'll continue to 91 00:04:19,279 --> 00:04:21,000 Speaker 2: develop as our proposition grows. 92 00:04:21,160 --> 00:04:23,159 Speaker 1: Yeah, I mean I know how to save on my bill. 93 00:04:23,200 --> 00:04:25,159 Speaker 1: I just need to follow everyone in the family, everyone 94 00:04:25,160 --> 00:04:27,039 Speaker 1: in the house around and switch off the lights behind 95 00:04:27,080 --> 00:04:30,839 Speaker 1: them when they leave rooms empty and power on very easy. 96 00:04:31,600 --> 00:04:33,600 Speaker 1: I can't be bothered getting up from the ricliner. That's 97 00:04:33,600 --> 00:04:36,520 Speaker 1: the problem. So yeah, yeah, there. 98 00:04:36,400 --> 00:04:38,720 Speaker 2: We go, I think yeah, Mai. The Thinko point point 99 00:04:38,760 --> 00:04:40,880 Speaker 2: to note is that our pilot program show that two 100 00:04:40,880 --> 00:04:43,320 Speaker 2: thirds of participating households saved an average of four hundred 101 00:04:43,320 --> 00:04:46,080 Speaker 2: dollars annually by switching to our energy. And just on 102 00:04:46,120 --> 00:04:48,120 Speaker 2: the point of switching, I think it's a really important 103 00:04:48,120 --> 00:04:50,360 Speaker 2: one is that for a long period of time, people 104 00:04:50,440 --> 00:04:54,159 Speaker 2: have looked at the energy elements in the households and thought, well, okay, 105 00:04:54,360 --> 00:04:56,120 Speaker 2: I want to switch, but it's too complicated. We've got 106 00:04:56,160 --> 00:04:58,160 Speaker 2: to call the retailer. I wanted to spell that myth 107 00:04:58,200 --> 00:05:01,280 Speaker 2: it's really important to spell into our energy online is 108 00:05:01,320 --> 00:05:03,640 Speaker 2: simple and fast. It takes five minutes, there's no need 109 00:05:03,720 --> 00:05:06,160 Speaker 2: to contact you energy provider at all, and you'll be 110 00:05:06,240 --> 00:05:09,000 Speaker 2: connected in two to three business days. And just to reiterate, 111 00:05:09,320 --> 00:05:11,640 Speaker 2: we're a non for profit, we're a member first approach 112 00:05:11,880 --> 00:05:14,279 Speaker 2: with focus on helping members of rising household expenses. 113 00:05:14,520 --> 00:05:18,280 Speaker 1: How do you build quarterly monthly paying monthly debit direct? 114 00:05:19,120 --> 00:05:23,159 Speaker 2: Yeah, it's monthly and direct debit can can be arranged 115 00:05:23,200 --> 00:05:25,799 Speaker 2: and absolutely that is that is part of the proposition. 116 00:05:26,160 --> 00:05:30,240 Speaker 2: And members also receive a free smart meter upon sine 117 00:05:30,279 --> 00:05:31,680 Speaker 2: up for greater control of their energy use. 118 00:05:31,800 --> 00:05:34,279 Speaker 1: All right, solar feed And a few people asking on 119 00:05:34,320 --> 00:05:36,719 Speaker 1: the text line, do you does the plan allow for 120 00:05:37,440 --> 00:05:39,640 Speaker 1: a solar export for people who have solar? 121 00:05:40,400 --> 00:05:42,280 Speaker 2: Yeah, it does four cents for the first a killer 122 00:05:42,279 --> 00:05:43,880 Speaker 2: what's and two cents after that? 123 00:05:44,440 --> 00:05:47,599 Speaker 1: So no, that's no better than most providers at the moment. 124 00:05:47,680 --> 00:05:49,440 Speaker 1: Is it not an incentive? 125 00:05:50,440 --> 00:05:52,960 Speaker 2: It's it's competitive, it's where. 126 00:05:52,839 --> 00:05:54,800 Speaker 1: Everyone else is. I don't know if it's competitive. 127 00:05:58,360 --> 00:06:00,640 Speaker 2: Look, it's a fair point in the text where we 128 00:06:00,680 --> 00:06:03,640 Speaker 2: are at the moment and our design to not profit 129 00:06:04,400 --> 00:06:07,120 Speaker 2: upon the enemygy usage. That's the best position that we've 130 00:06:07,120 --> 00:06:08,960 Speaker 2: got at this stage. Of the four centsus birthday killer? 131 00:06:08,960 --> 00:06:12,440 Speaker 2: What's in two cents after that? There is a fair 132 00:06:12,480 --> 00:06:15,479 Speaker 2: bit of soler on you know, generation happening at the moment, 133 00:06:15,520 --> 00:06:17,840 Speaker 2: and therefore obviously those feed in tariffs have produced them 134 00:06:18,120 --> 00:06:20,800 Speaker 2: and that's it's just a factual position that's happening in 135 00:06:20,800 --> 00:06:21,480 Speaker 2: the market. 136 00:06:21,320 --> 00:06:24,200 Speaker 1: All right, Benara dot com, dot au, slash Energy, that's 137 00:06:24,200 --> 00:06:25,480 Speaker 1: where people can go for info. 138 00:06:26,360 --> 00:06:29,159 Speaker 2: Absolutely, and just to mention, this is an extension of 139 00:06:29,160 --> 00:06:31,960 Speaker 2: the services we already provide. We already do Solomon Battery 140 00:06:32,000 --> 00:06:34,680 Speaker 2: and households, and we can continue to provide that service. 141 00:06:34,960 --> 00:06:36,760 Speaker 2: And we've got trade services in the home, so it's 142 00:06:36,760 --> 00:06:39,240 Speaker 2: another extension of us moving into the home and providing 143 00:06:39,279 --> 00:06:40,599 Speaker 2: coss leaving benefits from members. 144 00:06:40,640 --> 00:06:43,400 Speaker 1: All right, Ben, appreciate your time, Thank you, Thank you. 145 00:06:43,440 --> 00:06:45,880 Speaker 1: Matthew ben Ohen, General Manager Home and Energy at the 146 00:06:46,000 --> 00:06:46,320 Speaker 1: RAA