Elysian Energy launches monthly subscription plan with huge benefits

Elysian Energy has entered voluntary administration. Elysian Energy customers will soon be transferred to a new retailer as part of the Australian Energy Regulator’s and Essential Services Commission’s Retailer of Last Resort Scheme.

This offer, alongside all other Elysian Energy electricity offers, is no longer available. Please treat the below as historical information only.

Elysian Energy has caused a stir by offering a monthly subscription-based plan that has no daily supply charges – a fixed charge customers usually pay for being connected to an electricity network.

The Aussie-owned retailer is slinging the Power Maximiser deal to customers in New South Wales, Victoria, south east Queensland and South Australia, while also launching its services to households and small businesses across the ACT and Tasmania.

For $80 a month, customers will receive up to 250 kilowatt hours (kWh) of included electricity usage as well as no daily supply charges, making the plan one of the cheapest on our database at the time of publication.

So, with all these potential savings on offer, many consumers will be asking that age-old question; what’s the catch? Let’s take a closer look.

What is the Power Maximiser?

Power Maximiser is Elysian Energy’s latest offer that spruiks a monthly subscription fee which waives two of the main components of power bills… wait, what? Well, unlike most energy plans, Power Maximiser doesn’t sting customers a daily supply charge for being connected to the grid, but rather bills account holders a monthly membership fee of $80. This fee not only covers what would be the ‘daily supply charge’ but also the first 250 kWh of energy usage for the month.

This means that customers who don’t use more than 250kWh of power a month may find great value in this offer. And that’s not to say this plan isn’t for customers with higher energy consumption needs, as Elysian charges a reasonably competitive usage rate for households that exceed 250kWh of electricity usage a month – which differs between 9.9c/kWh to 22c/kWh, depending on location.

But wait, there’s more! Not only does the Power Maximiser have competitive usage rates, it also claims to offer more environmentally friendly energy, without the extra cost. How so you ask? Well, Elysian states that it sources some of its energy directly from its own solar customers, sending it back to those customers who may not have the luxury of renewable energy sources. With the addition of these solar energy sources then, Elysian’s Power Maximiser is able to offer customers greener and cleaner energy for half the cost.

The Power Maximiser plan is currently available in NSW, VIC, QLD, SA, the ACT and Tasmania.

Power Maximiser Features

According to the Elysian Energy website, Power Maximiser has a range of features and benefits, including:

• Competitive usage rates with no daily supply charges
• No conditional discounts, credit card fees or moving/reconnection fees
• No lock-in contracts or exit fees
• No paper bill fees

So, is there a catch?

With a deal as intriguing as this one, we dived into the fine print to explore if there were any hidden fees attached or eligibility criteria for customers to meet that could potentially unravel any savings. And while there isn’t necessarily a catch behind the benefits on offer, customers should be aware they’ll be paying an ongoing membership fee to unlock the perks mentioned above.

It’s also worth pointing out that bill-payers should always consider their energy usage habits before signing up to a deal. In this case, larger households with higher electricity consumption needs may use well beyond the included 250kWh a month. That being said, Power Maximiser’s rates after this monthly usage threshold tend to be lower than average in most areas, so it may just be a case of ensuring the $80 monthly fee is worth it.

To give you a clearer indication of what the average energy usage looks like per household – and to determine whether the Power Maximiser is for you – we’ve listed some information below.

If you were to sign up to the Power Maximiser plan, 3,000kWh a year of energy usage would be covered in yearly membership fees. Below you’ll find the average annual electricity usage per household in each state, specific to a distribution network.

Source: Australian Energy Regulator (AER). Information accurate as of December 2020.

As you can see above, the average household will still likely pay for excess electricity usage after paying the subscription fees on Elysian’s Power Maximiser. Rates will be different across all states, territories and distribution networks, which is why it’s best to use our free comparison tool for a range of quotes specific to your area.

Should customers give Power Maximiser a go?

Elysian Energy has certainly given Australians something to think about by waiving the daily supply charges and a large portion of usage charges in exchange for a membership fee, which could benefit many households said Canstar Blue’s Energy Editor, Jared Mullane.

“The prospect of paying zero supply rates is a huge drawcard as it’s normally an unavoidable fee most customers simply pay for being connected to the grid,” he said. “Throw in a capped usage amount per month and this deal seems like a great offer, so long as customers don’t mind paying an ongoing membership fee.”

“Customers with lower energy consumption needs could stand to save the most on the Power Maximiser, especially if they don’t consume more than 250kWh a month in electricity. Always check the fine print before signing away on the dotted line and remember to compare deals in market to see if Elysian is offering the best value for your circumstances.”

See how Elysian Energy compares on price by checking out the deals listed below.

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