Savings Guarantee Terms & Conditions

Am I eligible to apply for the Saving Guarantee?

To be eligible to apply for the Savings Guarantee, you must:

  • Have applied to become a DC Power Co electricity customer by midnight, on 31 May 2019 and remained a customer for a continuous period of at least 12 months at the same address.
  • Have a solar system connected and working properly (ie capable of producing electricity) at your property. If your solar system stops working properly, you need to take steps to fix it to make it work properly within a reasonable amount of time (up to a maximum of 8 weeks). This includes from when we notify you if your system isn’t working properly.
  • Have been with your immediately prior provider: for at least 12 continuous months on the same generally available ‘Standing Offer’ or ‘Market Offer’ as listed on the government websites Energy Made Easy or Victorian Energy Compare*; and at the same residential property and electricity meter (NMI) as with your DC Power Co account.
  • Not have opted out of Solar Alert, The DC Brief and other DC Power Co communications that help reduce your bill.

The Savings Guarantee offer only applies to your main home and is per residential account and, unless otherwise specified, is not available in conjunction with any other promotional offers available through DC Power Co from time to time.

DC Power Co, at its sole discretion, may amend or cease to offer the Savings Guarantee at any time without notice. In such event, any Savings Guarantee Periods, which commenced prior to the date DC Power Co ceased to offer them, will continue to be honoured.

*DC Power Co also keeps a running record of all generally available market and standing offers since 2016, just in case offers become obsolete or not visible.

I think I am eligible and am entitled to a credit under the Savings Guarantee. How much is it?

We guarantee that, compared to the cost of electricity over the last year with your previous provider, you’ll save over your first year with DC Power Co, commencing on the date your switch to DC Power Co is completed (‘Savings Guarantee Period’). If not, we will credit your DC Power Co electricity account 110% of the difference.

The savings are guaranteed only up to the amount of electricity purchased by you in your last year with your previous provider. For example, if you purchased more electricity in the Savings Guarantee Period than in your last year with your previous provider, we guarantee a saving only up to the amount used with your previous provider. If you purchased less electricity in the Savings Guarantee Period than in the last year with your previous provider, we guarantee a saving based on the entire amount you purchased from us.

The Savings Guarantee only looks at the cost of the electricity supplied to you, daily or other supply charges, your DC Fee, and Feed in Tariff (or FiT) rebates. It does not take into account any connection, disconnection, meter read/test  or similar costs, nor any incentives (like cash, credit, product offers or other sign up deals). The comparison will be made against the same residential property and electricity meter (ie, same National Meter Identifier (or NMI)) for the entirety of both periods.

I think I’m eligible and am entitled to a credit under the Savings Guarantee. How do I apply for my credit?

Once you’ve made the switch to DC Power Co for your electricity, and are with us for 12 months, and are eligible to make a claim under this offer, you can visit the Savings Guarantee claim page and follow the on-screen instructions to lodge your claim.

We will also email on your one year anniversary to remind you to apply.

You will be required to upload the last year of electricity bills from your previous provider during this process.

Your completed claim MUST be provided to us via electronic upload within 15 months of becoming a DC Power Co customer.

After I apply, what happens next?

Once you have submitted your claim, DC Power Co will process it as soon as practically possible. This will typically take a few days, but may take up to 20 business days.

Once assessed, we will notify you via email of the outcome of your claim.

How do any credits I receive under this offer work?

Any credit due will be applied to your DC Power Co bill within three months from the end of your Savings Guarantee Period. As credits can only be applied to active DC Power Co accounts, you must be a customer of DC Power Co at the time of this bill to receive the credit. Should you close your DC Power Co account prior to this bill you forfeit the right to any credit due to you under this offer.

The credits can only be used against your DC Power Co electricity bills.

Don’t quite understand? Here’s a few examples of how it works

Meet Liz

Liz’s claim: Liz has a solar system and was on the same market offer for three years with her previous provider prior to joining DC Power Co. In the last 12 months with her previous provider, Liz’s total cost of electricity (including discounts, the value of solar exports and supply charges) was $1,789 and she purchased 6900kWh of electricity.

In her first 12 months with DC Power Co, Liz’s total cost of electricity increased to $1,850, and she purchased less electricity (6800kWh) than in the last year with her previous provider.

Analysis of Liz’s claim: Liz’s total cost of electricity has increased in her first year with DC Power Co compared to the last year with her previous provider. Liz has also purchased less electricity from DC Power Co compared to the last year with his previous provider, so her savings are guaranteed on the entire amount of electricity she purchased from DC Power Co.

Outcome: Liz’s claim would be successful and her DC Power Co account would be credited with $67.10 ( $1,789 – $1,850 = $61 x 110% = $67.10)

Meet Johan

Johan’s claim: Johan was on the same market offer with his previous provider for two years prior to joining DC Power Co, and he has a solar system installed. In the last 12 months with his previous provider, Johan’s total cost of electricity (including discounts, the value of solar exports and supply charges) was $1,320, and he purchased 4500kWh of electricity.

In his first 12 months with DC Power Co, Johan’s total cost of electricity increased to $1,402 but he had also purchased more electricity (5,200kWh) with DC Power Co than in his last 12 months with his previous provider.

Analysis of Johan’s claim: Johan’s total cost of electricity has increased in his first year with DC Power Co compared to the last year with his previous provider.  However, he has also purchased 700kWh more electricity from DC Power Co compared to the last year with his previous provider. In this case, Johan’s savings are guaranteed only up to the amount of electricity purchased in the last year with his previous provider – being 4,500kWh.

Assuming the cost of each kWh with DC Power Co was $0.20, for the purposes of calculating whether Johan has saved in his first year with DC Power Co, we would reduce his total cost of electricity with DC Power Co by $140 (700kWh x $0.20/kWh), being $1,262.

In this example, Johan would have saved $58 ($1,262 versus $1,320) in his first year with DC Power Co based on his electricity usage with his previous provider.

Outcome: Johan’s claim would not be successful.

If you still have questions, or would like to know more, you can call or email us on 1800 686 686 or [email protected].

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