Energy retailer Powershop enters the SA electricity market

Energy retailer Powershop, which describes itself as the country’s greenest power company, has launched in South Australia.

Powershop and Meridian Energy Australia chief executive Ed McManus. Picture: Supplied by Meridian Energy

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Energy retailer Powershop, which describes itself as the country’s greenest power company, has launched in South Australia.

The company - a subsidiary of New Zealand group Meridian Energy - will from today supply electricity to local residents and small business owners, with longer term plans to introduce its gas offering to the state.

Since entering the Australian market in 2014, the company has accumulated more than 120,000 customers across Victoria, New South Wales and south-east Queensland.

Meridian is one of New Zealand’s largest renewable energy companies and operates a portfolio of renewable generation facilities across Australia, including the 70MW Mt Millar wind farm on the Eyre Peninsula.

Powershop chief customer officer Catherine Anderson said the retailer’s app and online usage tools allowed customers to save money by closely managing their energy usage.

“This eliminates bill shock and lets customers get in control of their power bills,” she said.

“We are proud to say we don’t door knock people’s homes, we don’t cold call customers and we are Australia’s only electricity and gas retailer to be certified 100 per cent carbon neutral by the Australian Government.

“All the electricity our customers use is 100 per cent carbon offset – at no extra cost.

“We are thrilled to launch Powershop in South Australia today, bringing more competition to the market, which we know benefits consumers.”

Meridian is the owner-operator of two wind farms in Australia, including Mt Millar and Mount Mercer in Victoria, and three hydro power stations in New South Wales.

Powershop and Meridian Energy Australia chief executive Ed McManus said Meridian was committed to investing in Australia’s renewable energy sector.

“Our investments in renewable assets across the country amount to over a billion dollars in generation and retail activities in recent years and we have strong growth ambitions in Australia,” he said.

In January, Meridian hit out at the Federal Government’s threat to force divestment in the energy market, as part of a proposed bill which would allow it to regulate prices and break up companies deemed to be misusing their market power.

“This is totally unworkable,” the company said in its submission on the proposed energy market bill.

“The only prudent response that an investor can take to this increased uncertainty is to increase the required return from any such investment with this leading to higher prices and or delayed investment, placing reliability at risk.

“Already the mere threat of this legislation has made us question whether we should hold back on, or require greater returns from, investments which we are currently contemplating to increase reliability and security of supply.”

For the month of March, Powershop is offering South Australian customers a $100 annual discount for each of the first three years of being a Powershop customer.