Electricity retailer tells customers to leave
<p dir="ltr">A small electricity retailer has told its customers to leave and find another company as they expect their prices to soar. </p>
<p dir="ltr">Victorian energy supplier Electricityinabox expects its prices to increase by a whopping 95 per cent on July 1.</p>
<p dir="ltr">CEO Morgan Duncan sent out a letter to all customers telling them that "only the lazy or crazy would stay" with the company. </p>
<p dir="ltr">The letter begins with a straightforward statement telling customers “you need to find a new electricity provider today".</p>
<p dir="ltr">"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.</p>
<p dir="ltr">The company will continue to provide certain services but is expected to leave the electricity sector due to the increasing demand making it expensive. </p>
<p dir="ltr">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.</p>
<p dir="ltr">The news comes just a week after Australian Energy Market Operator (AEMO) called on Aussies to reduce their electricity consumption. </p>
<p dir="ltr">Australian Energy Regulator (AER) and Australian Competition and Consumer Commission (ACCC) have warned retailers not to take advantage of the situation.</p>
<p dir="ltr"><em>Image: Shutterstock</em></p>
