A Sydney-based start-up is aiming to help businesses grappling with the soaring cost of energy by creating a marketplace where customers can source the best quotes for their needs.
At a time when energy prices are “at breaking point” for many businesses, according to the Australian Chamber of Commerce and Industry (ACCI), any means of easing the cost burden of high electricity prices is a welcome one.
The Business Energy Marketplace platform allows commercial and industrial businesses to get electricity quotes directly from providers, allowing a more simplistic method of comparing price when negotiating electricity contracts.
“We want to introduce transparency to the commercial and business energy market. Together with the support of Australian energy retailers, we’re looking to shake up the status quo by empowering our customers to secure energy contracts independently at the click of a button,” said the head of Business Energy Marketplace, David Burgess.
“We’re placing unprecedented power and choice in the hands of businesses so they can quickly and easily compare and secure energy contracts online.”
AGL, Alinta and Momentum are among the large energy retailers to have signed up to the marketplace.
“The crisis facing the Australian energy industry is putting pressure on businesses who are dealing with the rising cost of energy,” Mr Burgess said.
“We are thrilled to introduce an efficient way for the market to source energy quotes. If you use a broker, you can now cut out the middleman and go direct. By doing so you could save thousands on avoidable fees and charges.”
According to Mr Burgess, Business Energy Marketplace does not influence quoted prices, but instead derives its revenue from one-off user fees for obtaining quotes. The $150 fee is, in most cases, tax deductible.
ACCI’s chief economist Adam Carr noted recently that 70 per cent of Australia’s electricity is consumed by business, meaning the soaring cost of energy has direct impact on the national economy.
“If Australia’s energy crisis is not solved soon, we are going to see job losses and business closures,” he said.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.