Electricity retailer tells customers to leave
A small electricity retailer has told its customers to leave and find another company as they expect their prices to soar.
Victorian energy supplier Electricityinabox expects its prices to increase by a whopping 95 per cent on July 1.
CEO Morgan Duncan sent out a letter to all customers telling them that "only the lazy or crazy would stay" with the company.
The letter begins with a straightforward statement telling customers “you need to find a new electricity provider today".
"You need to be aware that smaller low price high value retailers are exiting this market. Four have already exited, some of them closed their doors," it continues.
The company will continue to provide certain services but is expected to leave the electricity sector due to the increasing demand making it expensive.
Energy companies ReAmped, LPE, Discover, Elysian and Future X have told customers to look elsewhere, while Momentum, Simply, Mojo, CovAU and Nectr have stopped accepting new customers.
The news comes just a week after Australian Energy Market Operator (AEMO) called on Aussies to reduce their electricity consumption.
Australian Energy Regulator (AER) and Australian Competition and Consumer Commission (ACCC) have warned retailers not to take advantage of the situation.
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