NEWS & OPINION

What does $50,000 of savings mean?

Unlike companies focussed on sales, Handled likes to keep score of the annual savings we have helped our members attain. $50,000 in just a few weeks! Lets take a closer look.

JULY 31, 2018
CARL PRINS

Every company likes to keep score.

How many sales? How much profit? How many employees across how many offices?
At Handled we like to keep score of the annual savings we have helped our members attain.

This is our guiding metric and we believe that if we always focus on adding this value to households, we will be successful as a company and bring about the change we want to see in this world.
We are just getting started, but love the fact that in a few short weeks we have been able to add this value to our members.

If you have not tried this yet, but live in NSW or SEQLD, Download the app here

How we calculate your savings

The first step is to estimate a member’s annual and seasonal usage of electricity and/or gas. You can read more about how we do that here.

We then take this usage estimate and work out how much they are spending annually on their current contract. For example, they spend $2,500 per year on energy.

Finally, we work out how much they would spend per year if they moved to a different plan. For example, the cheapest deal would mean an annual spend of $2,100 per year.

The saving of moving from their current deal to the new deal would be the difference. $400 in this case.

We keep a running total of this amount across all our members who have changed their deals and recently posted when we crossed $50,000.

When do the savings kick in?

Our members start enjoying their savings the day they update their plan (if they stay with the same provider, but just update to a better deal) or once their meter has been read and account has been transferred, when changing to a different energy provider.

How long do the savings last?

Once you have reduced your annual energy bill, you can set a price alert to be informed if you are ever paying more than you need to again.

So, if the deal you chose today is no longer competitive in a few months time, you’ll know and will be able to update/change provider again.

How to get in on the action

Download our app today and see if there are savings available or visit our website to learn more.

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