STEP (Strategically Timed Energy Procurement) Online is a Shell Energy progressive purchasing product for eligible customers1 that want to strategically time their purchasing over their contract period. This offers you greater control and choice in how you buy your electricity.
Instead of agreeing 100% of your prices upfront, STEP Online lets you lock in your energy prices progressively over the contract period, in parcels as small as 5%. It is an alternative to fixed-price energy contracting that helps you to manage your timing risk in the market.
As with all Shell Energy electricity agreements, there are no volume tolerance thresholds with STEP Online. This means you won’t be penalised for consuming more or less than your contracted purchase volumes.
STEP Online is Shell Energy’s online progressive purchasing option, designed to help businesses manage their exposure to the wholesale market volatility. STEP Online is an alternative to traditional fixed-price contracting. Simply put, instead of agreeing your energy costs all in one go when you sign your energy contract, with STEP online, you lock your energy prices in progressively on our online portal.
Locking in prices progressively allows you to manage timing risk in a fluctuating energy market. So, think about it this way. If you’re lucky and sign a contract to purchase your energy when market prices are at a low point, you will pay that low price for the entire contract. Unfortunately, the same applies for signing a contract on a day when the market is at a high point, you’ll be stuck paying that high price for the length of your contract.
This is where STEP Online is a great contracting option. By progressively purchasing your energy or environmental certificates in your desired percentages, you can better navigate market volatility. Let me show you how it works.
As a STEP Online customer, you will gain access to our portal. Simply log in and click on the STEP Online tab. You will then have visibility over the products you have elected to purchase, and the time remaining you have to lock in your pricing. Lets have a look at the New South Wales energy market as an example. Here you can see that we have purchased 100% of our energy for Q4 2022, and we have started purchasing for 2023. To choose a price, simply select the amount you would like to lock in. You can lock in parcels from 5% to 100%. As a helpful reference point, you can also see historical information for this market.
Depending on the day, there can be significant price variations. You can set price alerts to be sent to you when the market hits your predetermined parameters, allowing you to manage your purchasing based on your business’s budget. This is where STEP Online really comes into its own. STEP Online has secure features such as two-factor authentication. All purchases can be viewed in your dashboard. You can also set up user profiles with specific roles and authority.
Once you have locked in 100% of your purchases for a period, a percentage weighted average price, based on transactions in that period, is locked in. to convert this price into your energy rates, the peak and off-peak factors provided at the time of signing your agreement will be applied.
We understand that businesses need to be flexible, so we don’t charge penalties for using more or less energy than your contracted volume. This is one of the benefits of being a Shell Energy customer. For more details on STEP Online, contact us for a demonstration or speak to your energy advisor.
Agree to pay fixed prices for your energy
Prices are based on market prices at the time of contracting
Make all electricity and environmental certificate purchasing decisions on one day when the prices could be high
Log on to the Shell Energy Portal to access the STEP platform. Here you can check the current prices for electricity and environmental certificate schemes.
If the prices work for you, choose a percentage of your consumption (from 5-100%) that you want to purchase at the price for the set period.
We’ll email a copy of the transaction to you and any of your authorised representatives. The Shell Energy Portal records your purchase position and a range of other relevant information.
National Electricity Market (NEM) – Qld, NSW, ACT, Vic, SA and Tas
Western Australia Energy Market (WEM) – WA
Large-scale Renewable Energy Target (LRET)
Small-scale Renewable Energy Scheme (SRES)
Victorian Energy Upgrades (VEU)
NSW Energy Savings Scheme (ESS)
We sell great value electricity and gas to Australian business customers, with service you can count on. Enjoy a direct line to your dedicated energy expert who understands your needs and puts your business first. And let us make managing your day-to-day energy needs easy, with accurate billing, 24/7 access to your energy data, and seamless onboarding and site transfers. Go with an energy partner that best understands the needs of large and multi-site businesses.
If you’re a large business customer, get in touch with us today to find out how STEP Online is putting the power back in your hands.
1 Commercial and industrial electricity customers consuming 5 GWh and above per annum per state.