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Discover better electricity deals with Bill Identity and Xero in Australia

Posted 6 days ago in Advisors by Tyson Lloyd
Posted by Tyson Lloyd

With COVID-19 dominating the headlines, you may have missed the recent news that wholesale electricity prices have fallen to a five-year low. The government is pressing suppliers to pass on the savings, and it could be an opportune time to seek a better deal on electricity. This is just one of the reasons why we’re pleased to announce a new partnership with Bill Identity, which offers small businesses and their advisors a unique way to benchmark their electricity costs and find a better deal.

Bill Identity’s Utility Bill Concierge is an open platform that encourages electricity suppliers in Australia to bid on a small business’s electricity supply, offering alternative deals. And unlike some comparison sites, Utility Bill Concierge is open to all suppliers, not just selected ones. 

Shopping around

Utility Bill Concierge compares your electricity costs with the expected average for a firm with similar characteristics, and will identify opportunities where you may be able to get a better deal. When a better deal is identified, you’ll be automatically scheduled into the next bidding event, and all retailers will be invited to bid for your bill. Once complete, you will be presented with all offers, and you can select any you find attractive.

If you elect to make a switch with Utility Bill Concierge, the service will remember to check prices in a year’s time to see if it can get you an even better deal. And Utility Bill Concierge gives you the option to have all your future electricity bills collected and sent straight into Xero, eliminating the need for manual data entry.

Getting started is easy. Simply sign in to the Utility Bill Concierge platform and upload a recent electricity bill to start the bidding process. In addition, you can also click the ‘Connect to Xero’ button to link your account. This creates a secure connection where you can send your electricity bills – no matter which supplier you use – directly into your chosen Xero account for easy record-keeping and reconciliation. 

Potential savings

‘We’re pleased to be bringing our Utility Bill Concierge platform directly to Xero customers,’ said Darren Knihnicki, Chief Commercial Officer of Bill Identity. ‘It invites all electricity retailers to participate in a live bidding event on equal terms, ensuring that the SMB secures the best available rate.’

The service is free to registered Xero users. Utility Bill Concierge has also been designed so an accountant, bookkeeper or other advisor can help clients access the potential savings. The business owner always has the final say in accepting any offers.

Many small businesses are struggling in these uncertain times, and lower electricity expenses can help provide a welcome boost to cash flow. We stand in support of customers and encourage them to explore opportunities such as Utility Bill Concierge.

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