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iO Energy Powering Up to Take on The Top Level

Cameron England

Power disruptor iO Energy has made key hires including the head of Energy Consumers Australia as it gears up for further growth in the turbulent electricity sector.

The Adelaide-based company has welcomed Lynne Gallagher as an advisor to the company, and hired Reuben Bishop as its inaugural chief technical officer.

Ms Gallagher is the chief executive of Energy Consumers Australia and has more than 25 years' experience in the energy sector.

She is currently a member of the Future Trends Advisory Committee of Energy Safe Victoria and also sits on the Monash Energy Institute Industry Advisory Council and the NSW Renewable Energy Sector Board.

iO Energy co-founder and chief operating officer Luke Morton said the current explosion in energy prices pointed to a greater need going forward for customers to have a better method for reducing their energy costs, which was where iO Energy could help.

'We deliver clean energy and lower bills to our customers in a multitude of ways,' Mr Morton said. 'Our core product is supplying affordable renewable energy, and that's complemented by the use of smart technologies like smart meters and data-driven analysis to help customers to make structural shifts in how they use energy.'

Mr Morton said both residential and business customers could essentially 'program' their energy use to take advantage of the best pricing during the day.

'Businesses are pretty lucky because 95% of them operate during the daytime.'

'Our business customers range from small businesses to multi-site franchises, to manufacturing facilities and local government. They're in a good position and we help them improve on that.'

The company is expecting to raise capital at some stage this year, and it continues to develop its technology.'

'Two years ago we foresaw rises in electricity prices with the decline of coal,' Mr Morton said.

'A year ago we decided to enter the retail electricity market to understand how to help customers avoid that (price rises), and this year we want to raise capital to finance both our tech and our growth.'

Mr Morton said iO Energy was also aiming to develop software solutions for the broader retail electricity industry.

Mr Morton said there were a lot of corporates looking to enter the energy sector and iO Energy aimed to have a role to play in facilitating that transition. Mr Morton said much of the technology used in the sector was outdated and ripe for replacement.

Ms Gallagher said the energy sector needed innovation in terms of how customers are supplied, rather than the previous 'one size fits all' model.

'I am keen to encourage innovation and support innovators in their journey through providing strategic advice on future trends and consumer perspectives,' she said.

July 6, 2022

Energy provider urges South Australians to save thousands by moving to full-electric homes

Tm Hatfield
7NEWS Adelaide

We are constantly being promised something is being done to cut our bills, but one energy provider says we all have the power to cut back on what we are paying.South Australians are being urged to flick the switch to fully-electric energy to potentially save thousands.

October 30, 2021

Cheap renewable power has been driving down power prices in South Australia in the past few years.

Chris Russell
The Advertiser

Cheap renewable power has been driving down power prices in South Australia in the past few years.

October 29, 2021

Look, no solar! Why some homes are deciding on a battery-only strategy

Sophie Vorrath
One Step Off the Grid

Robin Dutton’s journey to installing a Tesla Powerwall 2 battery at his home in South Australia, despite having no rooftop solar, started by happenstance. Well, happenstance with a twist of social media algorithms.

October 14, 2021

Batteries with no solar: Changing market gives households new energy options

Sophie Vorrath
One Step Off the Grid

A time-of-use renewable energy retail offer has signed up hundreds of customers since its launch in South Australia last September, including Adelaide’s first 10-star energy rated home, and households with battery storage only and no solar.

September 2, 2021

Sydney angel investor’s $100k punt on SA energy start-up

Valerina Changarathil
The Australian

Shared experiences between defence veterans are at the heart of a $100,000 punt by a Sydney investor on aSouth Australian energy technology start-up.

April 21, 2021

The redesign of the National Energy Market - what does it mean for South Australia?

Spence Denny
ABC Radio

Spence Denny spoke to the Co-founder and Chief Executive Officer of SA energy provider IO Energy, Rob Morris, to get some answers.

January 5, 2021

Get solar without solar with a home battery system

Andrea Nicolas
7NEWS Adelaide

Solar panels aren't an option for this South Australian resident, Robin. But he's found a way to cash in regardless. He's tapping into an abundance of renewables to reduce his energy bill by 45 - 50%.

October 7, 2020

Lot Fourteen firm’s cheap daytime power play

The Advertiser

If you’re feeling the pain of paying for electricity, a Lot Fourteen start-up can offer a super cheap deal. But beware,if you get the time wrong, there’s a sting. Oh, and you don’t need solar.

August 31, 2020

South Australia tries to change user behaviour with daytime electricity tariff discounts

Mike Carabott
Leading Edge Energy

South Australian retailers are likely to start introducing huge daytime electricity tariff discounts to offset the dip in demand which is destabilising the grid, causing spot prices to bottom out between 10am and 3pm.

July 21, 2020

SA solar overload sparks huge power discounts

Angela Macdonald-Smith

South Australia's flood of rooftop solar installations could lead to households being offered discounts of as much as 75 per cent on electricity prices during the middle of the day.

July 15, 2020

Home Battery Software Aims to Outsmart Electricity Prices

The Lead

A South Australian clean energy startup has launched software to control the purchase and release of electricity in household grid-powered battery systems. The product aims to maximise savings offered under time-of-use pricing for households that do not have solar panels.

April 7, 2020

Adelaide Startup Launches Software to Outsmart Electricity Prices

Jessica Bassano

A South Australian clean energy startup has launched software to control the purchase and release of electricity in household grid-powered battery systems.

April 6, 2020