EnergyLocals x Enosi now live
The EnergyLocals x Enosi community energy scheme launched late last week across four states. It provides members with an Australian first, ground-breaking democratic way to buy and sell electricity. The program is a unique opportunity for members to purchase and export power directly between each other. The hope of the scheme is to remove the middle man of energy companies and allow members to access fairer prices for there excess energy produced and energy required. The program is broken up into:
- Nominated trades
- Community trades
- Default trades
Nominated trades allow members to trade directly with up to three people they know. Community trades are a more global trading scheme which allow members to set their “maximum buy price” and “minimum sell price” for there energy usage. Default trades consist of energy sharing at Energy Locals’ membership rates.
What you need to know
The program seems complicated to be eligible and apply for at first glance. However when broken down you will see the process and requirements are fairly straightforward. Here’s what you need to know before applying:
- You don’t need to have solar installed to apply.
- You do need to be on the normal EnergyLocals membership plan (roughly $4.50 p/w inc. GST).
- You do need a smart meter. As peer-to-peer trading uses smart technology meaning a basic meter just won’t cut the mustard.
- This is currently only available in NSW, SEQ, SA, ACT and Victoria.
- You can trade the entire wholesale component of the cost of energy (remainder of the usage is made up of network and environmental costs)
How does it work?
If you are a seller (solar owner), the process is straightforward. You select the minimum price you are willing to sell the excess energy your solar produces, and the maximum price you are willing to buy excess energy required. The Enosi platform will then attempt to match your criteria with others who want to buy/sell around the price range you have set. If no match can be found, normal Energy Locals membership rates will occur for any solar exports or grid usage.
When can you start?
Members can register their interest now and EnergyLocals will be in touch with you within a couple of days. After completing the joining process, Enosi will invite you to create a profile on their trading platform. Once this process is complete you are free to start trading immediately. Feel free to head to their website and register your interest. We are super excited for the possibility this energy trading scheme gives both solar and non-solar homeowners!
If you’ve been considering solar energy but have been turned down by electricity trading prices, now might be the perfect time to consider the switch! Contact Gold Coast Energy today and we can provide a no obligation free solar assessment for you and your home. Read more on what solar energy can do for you here. Happy trading!