DC Power Co Has Ceased Operations. See our FAQ section below for more info on the process of closure. The information in the guide below is for information purposes only.
FAQ About DC Power Co Closing
Did DC Power Co go out of business?
Yes, DC Power Co is in currently in the process of ceasing operations after the company declared insolvency in Autumn of 2021.
Does DC Power Co still exist?
DC Power Co is still around but is no longer sells energy.
DC Power Co went out of business when it enetered into liquidation on October 7th, 2021. The company has now been handed over to liquidators at KPMG Australia for finalising the liquidation process.
Who has taken over DC Power Co?
DC Power Co declared it was dissolving in October 2021.
In November 2021, DC Power Co appointed John Lindholm & George Georges from KPMG Restructuring Services as Liquidators of the energy group to carry out liquidation and solvency procedured of DC Power Co.
Why did DC Power Co Close?
DC Power Co ceased operations after its board members declared "Member’s Voluntary Liquidation." In this case, DC Power Co didn't decalre bankrupcy, but instead decided to cease operations as the business was not as profitable as investors had hoped.
Will investors receive money from DC Power Co?
After DC Power Co's closure, it is unlikely that all investors will receive payments.
In a letter to investors, KPMG group was quoted as saying:
"Distribution will be made to shareholders where their eligible distribution is $50 or greater, pursuant to regulation 42 of the Bankruptcy Regulations 2021, for the purposes of subsection 140(9) of the Act."
This means that most investors will not receive payments after DC Power Co's closure. Only investors who stand to receive more than $50 will receive payments after the company is liquidated.
What will happen to DC Power Co customers?
There is still no word on what will happen to DC Power Co customers after the company is dissolved.
Most likely, the remaing DC Power Co customers will be transferred to a new energy supplier.
However, no energy supplier has been appointed to take over DC Power Co customers just yet.
DC Power Co is one of the newest energy providers on the market, aiming to move Australia to a solar-powered future. Started as a crowd-funding initiative, DC Power Co has positioned itself as the leading energy provider for solar power users. While customers without solar power systems might find cheaper green energy elsewhere, those with solar panels can find savings in DC Power Co's high feed-in-tariffs. So is DC Power Co right for you? Or is another energy provider a better fit? Read below to find out more!
Overview of DC Power Co
DC Power Co is one of the newest electricity providers in the market, following the trend of green energy initiatives which are becoming ever more popular in Australia. First started as an equity crowdfunding campaign in 2018, DC Power Co launched with 1600 crowdfunding investors and reaching its minimum target of $1,630,000 in April 2018. DC Power Co energy is supplied by Powershop.
DC Power offers 100% carbon-neutral energy to all customers while offering additional incentives to customers who have solar panel systems.
DC Power electricity offers
DC Power Co claims to be “the company made for solar households”, offering one electricity plan to its customers in New South Wales, Victoria, and Queensland. Without solar feed-in, DC Power Co is more expensive than the ongoing market offer but their generous feed-in-tariff can help solar customers save.
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DC Power Co’s electricity service also comes with solar help including Solar Alert to know if your solar energy system isn’t working 100%, personalized advice on how to save more, and Track & Save through the DC Power Co email and app. DC Power Co’s electricity plan is also 100% carbon neutral, with no exit fees.
When you sign up for DC Power Co you will also be charged an $11 / month fee, which DC Power Co says is to increase transparency while offering wholesale electricity prices to customers, as well as offer the additional solar energy system services it provides.
Natural Gas Customers in Victoria can also get natural gas through DC Power, which comes 100% carbon neutral offset, with no lock-in contract
Contact DC Power Co
Customers interested in gas or electricity with DC Power Co can contact customer service by phone, mail, email, or through an online form.
DC Power Co customer service is available by telephone at 1800 686 686 between 8am and 7pm, Monday to Friday. Customers can send forms, applications, or complaints by snail mail addressed to:
DC Power Co
PO Box 18021
Melbourne, VIC 3001
How to subscribe to DC Power Co
Customers interested in subscribing to DC Power Co can sign up online. At sign-up, customers will be required to give a valid connection address as well as identification for a credit check in order to ensure eligibility.
If you have any questions relating to gas or electricity sign up, you can call DC Power Co customer service at 1800 686 686 during the week between 8am and 7pm.
Looking to change?
Cooling Off PeriodAustralian energy customers get a 10-business-day cooling off period after signing up for a new energy plan. During these 10 days, energy customers can cancel their new plan for any reason without penalty.
Customers interested in moving with, or cancelling their current, DC Power Co plan should contact DC Power Co to begin the process. DC Power Co can be reached via phone during the week between 8am and 7pm at 1800 686 686 or by emailing [email protected].
How to pay your DC power bill
Customers can pay their DC Power Co bill online, through BPAY, or by setting up direct debit. Online payments and direct debit can be set up through the customers online account. BPAY users can get in touch with their local financial institution, and reference their DC Power Co account number as well as BPAY Biller Code 288829 when paying.
DC Power Co reviews
Reviews of DC Power Co are mixed. On the one hand, customers with larger solar panels love the savings they receive through the high feed-in tariff as well as the renewable promises the company makes. However, customers with smaller solar energy systems, or none at all, say that DC Power Co is one of the most expensive energy retailers in the market.
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DC Power Co online
The DC Power Co app is for customers to help manage their power and account information. With the app, customers can monitor their solar power efficiency, electricity usage, and how much they are earning with their solar power systems. The DC Power Co app is available on the App Store and Google Play
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