The retailer is best known for working in partnership with larger businesses like Newcastle-based steelmaker Molycop and the Sydney Opera House, giving the customers the ability to contract directly with wind and solar farms to buy power at a lower cost than is available through traditional retailers.
During the depths of the pandemic, van der Linden made a strategic decision to continue to expand and invest in the business by bringing its rooftop solar installations in house, acquiring a majority stake in iEnergy, a small installation business.
Bolting solar panels on buildings, factories, and farm sheds is a proven way to cut electricity costs, says van der Linden, adding that active management of electricity through the retailer's "kWatch" device gives businesses and manufacturers the ability to cut prices even further.
The kWatch – a small device attached to the electricity meter that feeds data in real time to the customer porthole – allows businesses to watch their electricity use in real time and manage their demand when the price suddenly jumps.
"When the electricity use suddenly jumps , they could walk around the factory – for example – and look around for what machine turned on and manage use based on that," says van der Linden.
Coupled with solar panels, van der Linden says businesses could have Flow Power manage their electricity use "when it makes sense in the market," rather than relying on old fashion concepts like "peak" and "off peak."
"In most energy plans at traditional retailers, if a customer wants to control load, you're just stuck on peak or off peak. But the reality of the market is you only really need to move things by an hour or so a day," says van der Linden.
September revenue fell 21.6 per cent compared to the same month last year due to the slowdown in customer billings in Victoria while the state was in lockdown. But other states have been performing steadily and van der Linden expects to see business improve in Victoria as restrictions ease. The retailer's business was pretty steady between August and September, with revenue falling just 0.8 per cent.
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November 19, 2020 at 06:30AM
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Flow Power hopes businesses will spend to save - The Australian Financial Review
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