New kid on the energy block, Mojo Energy, today launched its innovative service model to the South-East Queensland energy market.
Rather than profiting from selling more power to consumers, Mojo will access wholesale rates for household electricity, often at 30 per cent less than the major retailers’ standing tariffs.
Deregulation of electricity pricing came into effect on 1 July and has opened the market to new players to enter the market with more competitive prices and a greater range of products and services.
CEO and co-founder of Mojo James Myatt says the Mojo offer is a game changer for Queensland consumers.
“Retailers need certainty to justify entering the market and it is reassuring that there is bipartisan support for the deregulation of the electricity market. For the first time families have competition delivering real choice,” Mr Myatt said.
Mojo expects to be popular with Queenslanders who, as a result of the hotter climate, are stuck with higher electricity bills than most states.
“We have already had thousands of enquiries from Queenslanders wanting to sign up to Mojo,” he said.
“We are a retailer absolutely aligned to the consumer’s desire to pay less for electricity. Other retailers’ business models rely on your electricity consumption to drive their profitability. Instead, we offer a subscription-based model called an EnergyPass™ that provides consumers with access to our wholesale rates at approximately 30% less than other retailers’ standing tariffs.”
Mojo estimates that 82% of households could save around $215 on average each year.