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In a world first, Mojo will not profit by selling more power to its customers who will now be able to access wholesale rates for their household electricity.
Mojo Co-Founder James Myatt believes the Mojo offer is a real game changer.
“Australian families will now have a retailer absolutely aligned to their desire to pay less for the electricity they need. Mojo customers pay a flat monthly subscription, called an EnergyPass, to access wholesale prices which are around 30% below other retailers’ standing tariffs.
“We can easily look at your current bill and estimate how much you are going to save annually based on our model and your current electricity consumption.
“We will then help our customers to access even cheaper bills through solar, storage and energy efficiency,” Mr. Myatt said.
The Mojo model is of most benefit to those households who are above average consumers of electricity, typically those with air conditioning or swimming pools.
According to independent analysis by the Australian Consumer, Retailer and Services (ACRS) unit at Monash Business School, NSW families who use more than the average amount of electricity per year would see significant ongoing yearly savings with Mojo, when compared to the three major retailers’ standing tariffs.