Will consumers pay to avoid shocking power bills? BidEnergy thinks so
Link copied to
BidEnergy has started down the path of offering households and small businesses a way to manage their power bills — but the question is whether they’ll pay for it.
The “Internet of Things” energy monitor play (ASX:BID) says it will launch a subscription product in August that will monitor your bills, alerting you to the lowest rates available across the market so you can switch energy providers whenever you please.
Managing director Guy Maine says he is getting strong demand from small businesses and franchises.
But it’s unclear whether households, who are unlikely to want to change power providers more than once a year, will sign up to a monthly subscription service.
Mr Maine told Stockhead the service will also alert customers about deadlines for early payment discounts and explain complicated energy rates within bills.
The main market is small businesses, however, as BidEnergy already sells a similar product to larger enterprise customers.
BidEnergy shares put on 4 per cent to 5.8c in early Friday trade.