Venture Capital Giant Leap Fund asset

Amber Electric

An energy retailer that passes wholesale prices through to customers, generating both reduced costs and an incentive to shift power usage to times when renewables are online and energy prices are lower.

Published: November 6, 2019

 

 

Amber Electric aims to accelerate Australia’s transition towards a 100% renewable powered energy grid.

By allowing consumers access to wholesale electricity prices, Amber shifts overall demand to periods when power is cheap, which is when renewable generators are online.

Amber estimates that if it can shift the power consumption of 1 million customers on its platform, this would abate enough CO2 to be equivalent to 1 million cars off the road.

Impact

We are working with Amber Electric to refine its impact reporting, with the aim of providing clear mission updates for both the company and investors.