A message from our Board Chair, Ann Telford.
Many of you will now know that this is an extremely difficult time for those operating in Australia’s electricity industry.
Prices in the National Electricity Market have been extremely high for an extended period, forcing some electricity retailers to turn away new customers and others to encourage their existing customers to find a new provider.
The recent announcement that community owned electricity retailer Enova had gone into voluntary administration was a shock to many of us who have been following their journey over the past six years. As the first community owned energy retailer, Enova broke new ground in Australia, and we at Indigo Power were saddened to lose an important contributor to the effort to transition our country to a 100% renewable energy supply.
Following Enova’s announcement, we have received many questions about Indigo Power’s position. I am pleased to inform you that Indigo Power is in a strong position. To deliver our electricity retail offer, Indigo Power partners with Energy Locals, who secures hedges that cover our entire customer load at a fixed price. These fixed price contracts are in place until June 30, 2023.
These hedges are at slightly higher prices than those for the current financial year and our electricity tariffs will increase as a result. However, we can continue to provide electricity to our customers at a competitive rate and continue with our current growth plans.
This energy crisis has highlighted the pressing need to transition away from our current reliance on fossil fuel electricity generation and to rapidly move towards renewable energy generation.
To this end, Indigo Power continues to deliver projects that will see well over 1 MWh of distributed energy storage capacity across our communities. We also have two high-impact feasibility studies underway. The first we hope will create a pathway for the replication of the Yack01 community battery in our communities, and the second addresses the pumped hydro energy storage opportunity in North East Victoria.
There has never been a more important time to support those leading the transition to renewable energy in Australia. With our position secure, we look forward to continuing our work over the coming year and welcoming new customers across Victoria and New South Wales as we continue to grow.
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Ann Telford,
Indigo Power Board Chair
On behalf of the Indigo Power Team
Together with Energy Locals we can currently service these locations 2720, 2722, 2729, 2730, 2650, 2652, 2640, 2641, 2642, 2644, 2643, 3644,3712, 2714, 2713, 2536, 2538, 2539, 2622, 2537, 2730, 2649, 2720, 2729, 2650, 2730, 2653, 2652, 2550, 2631, 2546, 2548, 2546, 2550, 2545, 2628, 2627, 3630, 2633, 2629, 2712, 2713, 3644, 2714, 2646, 2716, 2632, 2633, 2550, 2628, 2630, 2631, 2551, 2586, 2582, 2584, 2583, 2583, 2585, 2594, 2622, 2623, 2621, 2536, 2537, 2536, 2621, 2622, 2580, 2623, 2619, 2620, 2581, 2620, 2628, 2627, 2630, 2629, 2626, 2631, 2546, 2620, 2590, 2666, 2725, 2588, 2663 , 2722, 2587, 2726, 2583, 2580, 2581, 2701, 2678, 2702, 2665, 2652, 2707, 2706, 2700, 2716, 2711, 2680, 2646, 2643, 2647, 2642, 2660, 2642, 2650, 2644, 2659, 2658, 2706, 2705, 2680, 2711,2707, 2716, 2700, 2545, 2546, 2537, 2710, 2713, 2714, 2551, 2549, 2550, 2548, 2713, 2714, 2712, 2716, 2710, 2680,2681, 2705, 2665, 2706, 2711, 2652, 2580, 2579, 2577, 2581, 2583, 2622, 2722, 2727, 2590, 2663, 2720, 2729, 2650, 2587, 2585, 2726, 2588, 2594, 2590, 2711, 2710, 2716, 2656, 2658, 2655, 2650, 2660, 2642, 2652, 2659, 2644, 2640, 2642, 2660, 2650, 2643, 2640, 2642, 2646, 2628, 2627, 2625, 2629, 2630, 2642, 2633, 2642, 2641, 2659, 2640, 2644, 2716, 2707, 2700, 2645, 2646, 2712, 2713, 2710, 2663, 2652, 2590, 2650, 2666, 2705, 2703, 2700, 2652, 2665, 2681, 2680, 2706, 2707, 2700, 2656, 2645, 2642, 2652, 2658, 2655, 2650, 2549, 2548, 2550, 2551, 2731,2710, 2732, 2537, 2536, 2545, 2622, 2537, 2536, 2545, 2622, 2582, 2581, 2618, 2620, 2700, 2703, 2705, 2652, 2650, 2645, 2707, 2706, 2665, 2546, 2545, 2537, 2550, 2549, 2548, 2550, 2551, 2640, 2649, 2653, 2642, 2652, 2730, 2624, 2627, 2629, 2619, 2621, 2620, 2623, 2549, 2548, 2550, 2546, 2666, 2665, 2701, 2725, 2668, 2663, 2652, 2655, 2642, 2652, 2650, 2656, 3644, 2714, 2713, 2712, 2710, 2537, 2536, 2545, 2649, 2653, 2642, 2652, 2730, 2720, 2644, 2640, 2720, 2722, 2729, 2730, 2727, 2549, 2548, 2550, 2551, 2545, 2546, 2537, 2650, 2652, 2655, 2663, 2661, 2651, 2582, 2581, 2618, 2584, 2586, 2586, 2594, 2803, 2588, 2587, 2586.