Year 1 Progress Towards Our Ten-Year Plan

Updated: Feb 11

2021 was a great year for Bright Spark Power, and I am thrilled to be able to share with you this years progress towards Our Ten Year Plan. Setting the goal of being 100% renewable by 2030 is a massive target, but after our first full year of operation we remain 100% committed to achieving this important milestone. You can view the report or download it here.

Committed to transparency We've made a commitment to our customers, to our employees and to ourselves, to build the best business we can. Being 'transparent' to us means showing everyone how we’re holding up our end of the bargain. We started this business to carve out a role to create a better, more affordable and sustainable energy future for Australia, and in our first year, we have made some solid foundational steps. Sustainable generation from Customer Solar Despite a market downward trend for solar feed in tariffs, Bright Spark Power have worked hard to maintain a consistent and fair feed in tariff, for customer generated renewable energy. As a result, in 2021, 8.7% of our total electricity was sourced from our customer solar systems (PV). Putting you in control of your electricity usage Our proactive efforts to deploy smart meters into our customers' homes and businesses, not only provides the visibility for customers to make informed decisions that can help reduce their emissions and reduce their electricity bills, it also enables us to make more informed and better decisions. As of December 2021, we are pleased to report that more than 55% of all customers are now on smart meters, well above the NSW/QLD market average. If you haven't switched to a smart meter, consider the benefits and talk to us about the smart meter swap, as it is all included as part of your electricity plan. Knocking down the barriers to help customers transition to electric vehicles Moving to an electric car will be something many of us are thinking about – and certainly we anticipate our children's first cars will be electric. We are making it easy to transition to an Electric Vehicle by answering all your questions about charging, as well as providing easy EV charger installation solutions for our home and business electricity customers. We have seen strong interest and uptake of our electric vehicle charging solution in homes, apartments, and businesses. Enabling more of our customers make the switch to electric vehicles with our simple and straight forward EV charging solutions. How to achieve carbon negative We have begun our journey to become a carbon negative electricity retailer, firstly through the deployment of Smart Meters that are critical in the accurate measurement of electricity usage, and secondly through the selection of our external carbon advisory partner Carbon Neutral. Our goal of being carbon negative requires the actions we take to be genuine and traceable, meaning that we want to ensure that the investments and decisions we make are real and not a fairy-tale. A early first step on this journey was the investment towards the Yarra Yarra biodiversity corridor where we have provided 800 trees to support Carbon Neutral's efforts in the region. This will be a long and challenging journey, but it is one we are looking forward to walking together with our customers . A battery solution is our next innovation We see local storage within our customers homes and businesses as a key aspect of helping our customers to reduce electricity costs, whilst also contributing towards Our Ten-Year Plan goals. To that end, we have begun evaluating the best battery solutions for homes and business with the expectation that we will offer a battery pilot program in late 2022. We're here for you Last year continued to bring challenges and changes for all of us, and like many businesses, we adapted and helped our customers adapt. We've made it easy for customers to apply for government rebates and social programs in the customer portal and, along with offering smart meter upgrades, we have dedicated energy efficiency pages on our website to help customers review and reduce their overall energy consumption. The Energy Industry, Government and the Regulator The rate of change within the electricity industry is increasing, and the integration of renewable energy generation is continuing to change how electricity is forecast, used, and managed. This rapid pace of change is placing increased pressure and shorter decision making timeframes on the various regulatory bodies, which is made more challenging by the lack of clear practical strategic leadership from the Commonwealth Government. While State Governments are making an effort, the differing objectives and targets are creating increased variation and risk within the national energy market. Where there is increased risk, there is increased cost. We have invested time within the regulatory and government forums for energy, and will continue to do so, to ensure that our customers views on sustainable, cost effective, and renewable electricity are heard and reflected within legislation and strategic government planning. Setting the goal of 100% of all energy to be sourced from renewable sources by 2030 is a challenging target, and as part of our efforts to achieve this target, we may occasionally make decisions that impact our customers. It is not uncommon that electricity retailers will also offer retail gas services, as retail gas is another energy product that is generally seen as a perfect partner for retail electricity. However, we have made the decision to not to offer gas to market due to it being a fossil fuel that does not have a clear viable path towards being a renewable energy source. We understand and appreciate that this decision may not be optimal for some of our customers that have both energy supplies, but we feel we need to stick with this path to fulfil our vision of 100% renewable energy. The future is Bright We fully expect and are prepared for the fact that our path towards achieving Our Ten Year Plan will not be easy, but with the support of our growing community, we have every confidence that we will continue to make big strides towards our 2030 targets. For those of you interested, you can stay informed of our decisions and progress on our blog and Our Ten Year Plan information page. As always, I welcome your thoughts and comments on what we are doing and how we are going. I am looking forward to what we achieve together in a Brighter 2022. Arran Coughlan Chief Executive Officer



It all started at a weekend BBQ, discussing living in a time of changing climate and the impact it will have on our families lives in coming decades. ​We were surprised to find so much electricity was still being generated by fossil fuels. ​We were disappointed that there was a lack of adoption and investment in renewable energy in Australia. ​Certainly, we could go back to our jobs and keep talking about it at weekend BBQs, in the hope that someone else does something about it, but o answer was to start a new electricity retailer with the purpose of driving demand for renewable electricity.

Call or email Bright Spark Power to start a conversation about how you can help us reach 100% renewable energy, and deliver an innovative, more sustainable, more affordable energy future for Australia. Call 1300 010 277 weekdays or email anytime.

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