Information posted Saturday re BID - “I have seen a...

Information posted Saturday re BID -

“I have seen a demonstration of the BID Billy product and as a consumer; I can’t wait to use it. The customer simply drags and drops the (.pdf) of their energy bill into the portal. In a matter of seconds, it reads the bill, looks back through the household consumption over the last 12 months and recommends the retailer with the best available deal based on your consumption patterns.

Readers may think, there are already ‘comparison’ sites such as “Compare the Market” and “I-Select” that provide this service, but I’m here to tell you, this service is off-the-charts better. Firstly, the comparison sites are conflicted as their model requires the retailer to provide a commission for delivering the customer; this can mean that the retailer offering the best commission gets the recommendation rather than the best offer in the market. They also don’t usually cover the whole market, whereas BID Billy will have every supplier in the engine.

The retailers will love the service as they won’t pay for the new customers; they just need to provide the best offer. The customer will pay BID (or whoever they partner with to get distribution reach) a fee to be able to drop their bill into the engine every quarter to ensure they are still on the best tariff possible based on their location and consumption. Of the three bills (which were fairly high consumption bills to be fair) I saw dropped into the engine, the average saving provided by BID Billy was $500 annually and there were still some retailers’ offerings yet to be loaded into the engine.”

https://egpcapital.com.au/wp-content/uploads/2018/08/2018jul.pdf

Exciting outlook.