Some key terms and conditions offered by electricity retailers in Victoria for the Premium Feed-in Tariff are outlined below.

Although the Premium Feed-in Tariff has been closed to new customers, eligible customers already signed up for a premium offer will still be able to switch retailers now that the scheme has been closed. Use this table as a guide to help compare the provisions that are important to you. Also check for any exit fees in your current contract.

Always check these offers with the retailer before signing any contracts.

RetailerPremium Rate payable per KWhTreatment of excess creditsCan I keep my RECs /STCs1If I currently receive a discount2 under my supply contract, can I keep It?
Will my Retailer pay me for excess credits?Other conditions applicable to payment of excess credits
AGL$0.68Yes. AGL will pay the solar credits if you have at least $10 in credit.Unless a final account, payment will only be made if a customer has an account credit of at least $10;
Payment will not be made to customers under certain circumstances such as where a customer:
- has overpayments or outstanding debts on their account
- are awaiting their final bill
- are in non-vapd addresses (e.g. vacant sites, PO Boxes)
Customers can opt-out of the payment at any time should they wish to, credits will continue to accrue on their account.
Yes.Some discount features will remain available.
Australian Power and Gas$0.60No. Credits are extinguished after 12 months and upon termination of contract. Yes.Some discount features will remain available.
Click Energy$0.64Yes, on requestIf after twelve months you have a feed-in tariff credits balance greater than $100 you can elect to have this paid by EFT to a bank account, VISA, Master Card or American Express Card.YesYes
Country Energy$0.60Although contract states that excess credits will be extinguished, Country Energy has advised you can be paid for excess credit after 12 months on request. Yes.Yes.
Energy Australia$0.60No. Credits are extinguished. Yes.Yes.
Lumo (formerly Victoria Electricity)$0.60No. Credits may be extinguished after 12 months. Yes.Yes.
Momentum Energy$0.60No. Credits are extinguished. Yes.Yes.
Neighbour-
hood Energy
$0.60No. Credits are extinguished. YesYes.
Origin Energy$0.66Yes. Payment will automatically be made after the later of:
- 4 consecutive quarterly bills in credit;
- 12 consecutive monthly bills in credit; or
- 365 days.
Also automatic upon termination of contract.
Excess credit must be over $50.
If under $50, credit will be rolled forward onto subsequent bills.
Yes, although Origin retains the right to acquire your RECs in the future.Some discount features will remain available.
Powerdirect$0.68 (subject to $10 admin fee per billing cycle)Yes. On request after 12 months and upon termination of contract.$10 Credit Balance Payment Fee may be applied on payout;
Customer must request payment within 10 business days of when the relevant bill is issued;
Excess credit must be over $50;
If under $50, credit will be rolled forward onto subsequent bills;
Yes.Some discount features will remain available.
Red Energy$0.62Yes. On request after 12 months and upon termination of contract.Excess credit must be over $10.
If under $10, credit will be rolled forward to subsequent bills.
Customers are entitled to 1 free refund payment of excess credits per year.
Additional requests will incur a $10 fee.
Yes.No. You will be required to move onto a new supply contract that does not offer any discount features.2
Simply Energy$0.60Yes. On request after 12 months and upon termination of contract. Yes.Some discount features will remain available.
TRUenergy$0.66Yes. On request after 12 months and upon termination of contract. Yes.Some discount features will remain available.

1 Renewable Energy Certificates/Small Scale Technology Certificates
2 Discount features are typically pay on time discounts, direct debit discounts or percentage discounts. Check with your retailer as they may have built an equivalent discount into a lower supply tariff or other treatment.

IMPORTANT INFORMATION

The information contained in this table was supplied by each electricity retailer and is current as at 10 July 2010. This information is intended as a guide only and the Department of Economic Development, Jobs, Transport and Resources takes no responsibility for its accuracy.

Before entering into a premium feed-in tariff contract, speak with your electricity retailer about the terms and conditions that will apply to you. Without your explicit informed consent, the terms and conditions of your existing electricity supply contract cannot be varied.