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Flickit technology3/17/2023 ![]() They soft-launched in Wellington first and started expanding out across New Zealand since then. They piloted from January 2014 through until August when they made the decision to launch. All these hard things that we had to do.” Getting used to trading in the market, so actually being active in the market and meeting our obligations in market. Get their views on how they found the experience, whether it was delivering value to them, what problems would this solve and what other problems they thought we could solve. “That took about five to six months to build and then we took on some pilot customers to really start testing it. With the help of a development team they worked to build a viable product. ![]() Flick’s model has driven right through that and the team actually want all of their customers using smart tech, allowing the customers direct access to all those wholesale costs through the chain to their benefit.įirst they asked themselves a million questions, “What would be the challenges that we face to get something to market? Does the business model mean we can actually make money and deliver a value proposition for customers? What would a minimum viable product look like and how long would it take us to build it? Then what kind of capital runway and people capability would we need to build a business that could be successful?”įinally, after three months they made their decision to go for it and threw all their cash at the idea. They’re used to selling most of their energy to themselves at a fixed price and then just telling the customer how much they’re going to pay on a singular basis. There about five big vertically-integrated retailers in New Zealand who generate the electricity at one end and then retail it at the other end. This means consumers and businesses pay the actual cost of power as it changes throughout the day. Harnessing the potential of metering technology, they’re disrupting the traditional sales model and giving greater transparency behind usage and pricing.įlick Electric Co, which is so far available only in New Zealand but with not too distant dreams of coming to Australia, is the first power company offering time-of-day pricing based on the electricity spot price. ![]() Electricity is usually in the hands of the big guys, but this small venture from Wellington is putting power back in the hands of consumers and helping us little guys give fixed electricity prices the final flick.
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