Wattwatchers to review and update pricing model – effective July 1, 2020 – following a three-year ‘freeze’
COVID-19 fallout impacts are among several drivers for moving to a new policy of refreshing product list and standard prices annually
After holding our prices steady for nearly three years, Wattwatchers Digital Energy is conducting an across-the-board review of products and pricing, also moving to a new policy of formally updating our Standard Pricing List on July 1 each year.
We want to ensure that our customers and partners have a month’s notice that some prices may be subject to change – as of July 1, 2020 – and also that any existing deals or arrangements based on current pricing will be honoured*.
Recent impacts of the COVID-19 global health crisis are one factor prompting this review, with other drivers including a long-term decline in the value of the Australian dollar against the $US since 2017, when current pricing was set, and price increases by key suppliers in Australia and internationally.
Through this pricing review and new policy of an annual reset, Wattwatchers’ intention is to minimise any price increases while maintaining the integrity of our business and our ability to continue to innovate for new and improved solutions for our customers, and stronger ongoing collaborations with our partners.
The updated Wattwatchers Standard Pricing List – July 1, 2020 will apply until any further review, with the next scheduled update being due prior to the start of the 2022 financial year (i.e. for release on July 1, 2021).
*Pre-existing individual terms and conditions covered by a Term Sheet or similar individual agreements with our customers on pricing, discounts or other matters – put in place up to and including June 30, 2020 – will still apply.
^The $US dollar is the main currency for our internationally-sourced hardware components and base manufacturing. Volatility around the value of the Australian dollar has been exacerbated by fallout from the COVID-19 crisis. The Australian dollar was tracking above US 75 cents, with highs above US 80 cents, in 2017 when current pricing was set. It fell as low as under US 56 cents when the COVID-19 lockdowns first hit, before recovering to recently track around US 64-66 cents.
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