18 November 2024, 4 min read
Media Release
Fast-growing renewable energy retailer, Flow Power, is set to disrupt the residential energy market with the launch of Flow Home, Australia’s first tech-integrated electricity plan designed to empower households to be part of Australia’s energy transition.
Unlike traditional energy plans, Flow Home’s unique flexible pricing model rewards customers for changing their energy habits. The innovative new model helps customers reap the rewards of accelerating Australia’s renewable energy transition by increasing their consumption of abundant, lower-cost renewable energy and reducing Australia’s dependency on outdated fossil fuelled generators. As periods with higher renewable energy generation typically coincide with lower market pricing, Flow Home customers who use more of their power during these periods will also have the opportunity to access lower electricity rates.
Flow Home plans are 100% GreenPower accredited, linking customers to identifiable, local renewable energy sources such as the Newstead Community Energy Project. This approach sets a new standard in renewable energy additionality for residential retail, giving customers a connection to the specific generators involved in their energy plan.
Matthew van der Linden, CEO and founder of Flow Power, commented: “Australia’s energy system is currently undergoing a profound transition to renewables from legacy fossil fuel generation technologies. By 2050, the National Electricity Market (NEM) will need to double its generation capacity to replace coal, and most of this is projected to come from energy systems in our homes like solar. The role of the energy consumer is pivotal – no longer just passive consumers of energy, they will become active participants, their homes and businesses acting as mini power stations that both consume and generate power.
“We believe that every home can be a part of the renewable energy revolution and Flow Home will deliver two key enablers to the market to create a consumer-driven energy movement. One is technology, starting with tools that allow consumers to manage their energy use with precision and impact, moving rapidly to AI and automation in 2025, to make it easy and available en masse. Flow Home has specifically been designed to unlock the full potential of these home-based energy resources.
“The other key enabler is price,” van der Linden continues. “Price efficient use is crucial; consumers should have the flexibility to choose what they pay for energy. Instead of being locked into a fixed rate, they should have the option to take advantage of lower prices when available and avoid higher costs when possible. It’s similar to shopping: you purchase more when prices are low and only buy what you need when they’re high. Energy works in much the same way – use more when electricity is cheaper and only use what you need when prices rise.”
As a technology-integrated plan, Flow Home customers receive a suite of smart energy tools to help them monitor and control their devices using real-time data. The Flow Power app notifies customers when energy prices are up and down, and customers can remotely control devices connected to the smart plug. The Energy Forecast feature also shows when the price of energy will drop.
Since July 2023, over 60% of monthly invoices issued to Flow Home trial customers have included a reduction to the base energy rate due to price efficiency. Early Flow Home customer data has found that EV drivers could save as much as 40% on their Flow Power base rate by charging at the right times.
With Consumer Energy Resources ownership set to grow rapidly in the coming years, the Flow Home energy plan offers a variable feed-in tariff that helps customers get maximum value out of their home battery and EV. Battery owners can charge their batteries during the middle of the day when the cost of energy is lower on the wholesale market and discharge them during peak hours when wholesale prices are higher. EV owners can schedule their vehicle charging during the middle of the day when the cost of energy is lower on the wholesale market. This efficient use of energy will not only help customers influence their rate, lowering the amount they pay per kWh, it also helps to balance the grid by reducing demand during peak times.
“This launch is just the first step,” added van der Linden. “As we continue to expand Flow Home, we’re focused on rapidly integrating more automation and user-friendly features that will make renewable energy management second nature for all Australians. We are dedicated to developing a product that not only provides immediate value but also evolves to meet the needs of our customers in the long term.”
Flow Home is now available in Victoria, with plans to expand to other NEM states in early 2025. For more information about Flow Home, visit: flowpower.com.au/residential
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Notes to Editors
Media contact:
Alice Johnson, Head of Sustainability, Horizon Communication Group
0413 852 381 | alice@horizoncg.com.au
About Flow Home
Flow Home is a new residential electricity plan from Flow Power that aims to disrupt the traditional energy market by empowering households to be part of Australia’s energy transition. The plan helps households take more control over the amount they pay for energy, while increasing their consumption of abundant renewable energy and reducing Australia’s dependency on outdated fossil fuelled generators. Flow Home encourages efficient energy use with a mechanism called the price efficiency adjustment (PEA). Customers receive 100% GreenPower and a fixed base energy rate (which is below the Victorian Default Offer), which is adjusted by their PEA to give their monthly usage rate. The PEA reflects how effectively customers use energy during cheaper, peak renewable periods, and their bill is adjusted accordingly. As a technology-integrated plan, Flow Home customers receive a suite of smart energy tools to help them monitor and control their devices using real-time data. The Flow Kit, valued at $150, is included at no extra cost. It equips households with smart devices that integrate with the Flow Power app, offering Wi-Fi-enabled live electricity monitoring and device control, all of which works remotely even when away from home. Flow Home launched in 2024 in Victoria and will roll out to other NEM states in 2025.
About Flow Power
Flow Power is an electricity, technology and engineering company that has been reshaping energy for Australia since 2008. Flow Power’s renewable energy portfolio encompasses wind, solar and storage – while its innovative approach uncovers new and better ways to deliver reliable, renewable energy that brings costs down and puts the power back in customers’ hands. One of Australia’s fastest-growing energy retailers, Flow Power serves some of our best-loved organisations including Asahi Beverages, Sydney Opera House, Snack Brands, Westpac, City of Sydney, The University of Melbourne, RM Williams, Newcastle Airport and Harris Farm Markets.
Fact sheets for Flow Home are available at flowpower.com.au/residential/pricing/energy-fact-sheets/. For clear advice on the right plan for you, contact the Flow Power team via live chat on our website between 9am – 5pm Monday to Friday: flowpower.com.au/residential/