Electricity in a box™ provides rapid market entry to a select group of retail brands seeking the opportunity to bolt electricity onto their product mix.
Retail Electricity is highly regulated and compliance heavy market. The barriers to entry are very high (bootstrapped startups require several million dollars to get through the licence program) The process typically takes in excess of a year and requires a strong depth of skills and capabilities to meet the comprehensive requirements for authorisation.
Electricity in a Box™ provides a solution that enables highly household names to provide retail electricity under their brand. We provide all of the contracts, collateral, the consent forms, terms and conditions and managed service elements required to both electricity and to remain compliant.
History – why Electricity in a box™ ?
Electricity in a box™, was an evolution from Telcoinabox® a white labelled telecommunications platform. It lowered the barriers to entry for retail brands, community groups, to become telecommunications players. The most notable being BELONG owned by Telstra and NuMobile owned by Macquarie. Telcoinabox was ASX listed and reached revenues of $100m before being sold to ASX:MNF and ASX:5GN. Electricity in a box™ utilises the market leading Utilibill® platform exclusively to provide a full enablement platform.
Electricity in a box™ is the same top level concept for electricity, noting there are differences,
- The customer will receive exactly the same electricity regardless of retailer, whereas, in Telco the customer received a different service – think white labelled Telstra, OPTUS, Vodafone, TPG. There is no difference with electricity retail
- Electricity retail is is highly regulated, turning off an electricity meter of someone on life support can in extreme circumstance mean loss of life. (to address this, we do not provide you the ability to disconnect such services)
- With telecom white label no reference of Telcoinabox was seen anywhere, In electricity the holder of the retail licence (Electricity in a box™) needs to be explicitly named in contracts with the end customer. So while you will have your marketing on the collateral Electricity in a box™ will be explicitly mentioned.
- You can not turn of a customer for non payment with out following a specific protocol which includes a number of reminders.
- The average revenue of an electricity company is much higher making higher impact to overall revenue contribution
- The way that we buy electricity is different to how we buy telco. in the Telco world Telcoinabox® knew a local call would cost X and would then mark it up and sell to the retailer for y who would sell to end customer for z. Electricity price changes every 5 minutes so a good deal of human capital is invested to ensure the balance of predictability and profitability is met when building price constructs that work both for Electricity in a Box™ and the co-branding or white label partner
- Electricity is broken up in to two main elements Supply Charges and consumption charges. Supply charges are fixed published rates based on physical location on network they reside, consumption charges vary based on a number of different variables.
Electricity in a box was authorised to sell electricity at the end of 2019 and is preparing to launch its offering to the market.