Monthly installments explained

Quick answer

Monthly installments make it easier for Aussies to stay on top of their budgets. With amaysim you can say good-bye to the days of getting lumped with a quarterly energy bill at the end of a sweltering summer or chilly winter.

Instead, you’ll make a payment each month based on either your actual usage (if your meter was read that month), or a specified monthly installment.

Monthly installments explained

Here at amaysim, we've never been fans of bill shock and you can say good-bye to the days of getting lumped with a quarterly energy bill at the end of a sweltering summer or chilly winter, with our energy plans utilising monthly installments (payments) to help reduce the chance of quarterly bill shock.

Note: If you have an electricity smart meter (most Victorian customers), you’ll always be billed monthly for your actual electricity usage, and won't pay a set installment amount.

More control, less surprises

The main advantage of monthly installments is that they assist you with budgeting.

No longer will you be hit with a bill that covers three months of usage. Instead, you’ll make a payment each month - based on either your actual usage (if your meter was read that month), or a specified monthly installment.

How are monthly installments calculated?

Your installment payment should reflect your average power usage.

When signing up, you’ll start on an installment amount that suits our average customer.

  • For electricity customers, there is an initial minimum installment amount of $130/month
  • For gas customers, there is an initial minimum installment amount of $50/month

If you think the minimum installment amount is wrong for your household usage or budget, you can adjust your installments at any point by simply contacting us.

What happens once my meter read takes place? (Electricity)

For homes with analogue electricity meters, we won’t be able to get your information automatically each month. Instead, it will be read quarterly by your distributor.

Despite the manual meter reads needing to take place, you’ll still benefit from monthly installments for the first two months of your billing cycle.

On the third month you’ll be billed for the actual quarterly meter read - less the two installments already paid.

Note: If you have an electricity smart meter (most Victorian customers), you’ll always be billed monthly for your actual electricity usage, and won't pay a set installment amount.

What happens once my meter read takes place? (Gas)

There are no smart meters for gas, with meters being read every once every 60 days, and every three months in New South Wales.

For those who live in Victoria, you'll pay a monthly installment on the first month, with the second month's bill being based on your actual gas usage, less the installment amount that's been paid.

For those who live in NSW, you'll pay a monthly installment for the first two months, with the third month's bill being based on your actual gas usage less the two installment amounts that’s been paid.

What happens if the installment amount is to high for my usage?

If for whatever reason your bill is less than your previous installments (once a meter read takes place), your account will be put into a credit. This credit will carry across into your next required installment payment.

If your account is consistently in credit, we recommend contacting us to reduce your installment amounts.

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