Monthly instalments explained

Quick answer

Monthly instalments 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 instalment.

Monthly instalments 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 instalments (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 instalment amount.

More control, less surprises

The main advantage of monthly instalments 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 instalment.

How are monthly instalments calculated?

Your instalment payment should reflect your average power usage.

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

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

If you think the minimum instalment amount is wrong for your household usage or budget, you can adjust your instalments 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 instalments 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 instalments 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 instalment 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 instalment on the first month, with the second month's bill being based on your actual gas usage, less the instalment amount that's been paid.

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

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

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

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

* Was this article helpful?

haven't found what you're looking for?

Still need help? Contact us