Our STEP Online product helps larger businesses manage timing risk when contracting and limits their exposure to volatile energy prices.
Why STEP Online?
Our simple and secure online platform gives you greater flexibility when agreeing to the rates you pay for electricity.
In a standard fixed-price, fixed-term electricity contract, you agree to pay a fixed rate for all your energy usage during that period. That rate is set based on market prices on the day you sign up.
Instead of agreeing to all prices up front, STEP Online lets you agree prices in parcels as small as 5% for each set period (usually a quarter).
Once you’ve agreed prices for 100% of your electricity for that time period, your average price will be calculated.
Unlike some, we don’t apply penalties if your consumption falls outside of agreed thresholds, removing a significant risk to large businesses when contracting.
As a result, our STEP Online product is simple: no volume reforecasts or adjustments required, and agreed rates that apply regardless of your consumption at contracted sites.
What can be contracted?
- NEM (Qld, NSW, ACT, Vic, SA & Tas)
- WEM (WA)
- Large-scale Renewable Energy Target (LRET)
- Small-scale Renewable Energy Target (SRET)
- Victorian Energy Efficiency Target (VEET)
- NSW Energy Savings Scheme (ESS)
How it works
Once you enter into a STEP Online contract, agreeing prices for energy parcels is simple:
- Log on to the online portal and check the current price for each product and period.
- If the price works for you, lock it in. Then choose how much of your electricity you want to agree to at that price (anywhere from 5%-100%).
- We’ll email a copy of the transaction to you and any authorised representatives.
Giving the power back to customers
Agreeing to energy prices incrementally through STEP online negates the risk of buying all your electricity at the top of the market when prices are high.
Using STEP Online, you have the opportunity to monitor electricity market and environmental scheme prices in order to spread timing risk over a longer period.
This ultimately gives you greater control when managing your electricity costs.
Why more customers use STEP Online
If your business uses at least 5GWh per annum, you may be eligible to manage timing risk and agree energy prices in smaller parcels using STEP Online. Contact our team to check your eligibility.
Easy to use
- You can access STEP Online through our Customer Portal. New energy price transactions can be made between 10am and 3.45pm AEDT Monday-Friday.
- We also send SMS notifications to our customers to advise of price movements.
- Up to 20 transactions are permitted per contract period.
Safe and secure
- Each time you agree to a price for a parcel, you enter the security code that is sent to you via SMS.
- Once the transaction is complete, STEP Online confirmations will be emailed to all authorised users.
- You can nominate additional users via an Authorised User Registration form. These users can then agree prices on your behalf or have ‘read only’ access (where they’re not authorised to make transactions).
- Automatic reminder notifications will be sent to authorised users to notify them when the last date for agreeing a price is approaching.
View a real-life example
Interested in how STEP Online can help your business?
Contact us and we’ll arrange for a specialist to give you a demonstration.
STEP Online may not be suitable for all eligible customers and does not guarantee a better price outcome. You should seek independent advice about whether this pricing model is suitable for your business.