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POWER PRICE UPDATE

POWER PRICE UPDATE

Tags: Energy Information
Last updated by Joel Gibson on

 

 

UPDATED 30 JUNE: Australian electricity prices are already some of the world’s highest. But after doubling in less than a decade, they’re now headed skywards again.

So here at the FiftyUp Club, we've got our energy expert keeping an eye on what electricity companies are doing to their prices on July 1.

Unfortunately, only a couple of the biggest retailers have so far made their plans public, bu we'll be watching to see what they all do come tomorrow.

Here's the story so far:

NSW:

Origin Energy has revealed it will raise prices by 10% on average statewide, or $175, on its standing offers.

AGL announced an "average $172 increase", but documents show it will raise prices by 11% on average, or $200, on its standing offers.

Some EnergyAustralia customers have reported receiving double-digit increases, but an official announcement is still to come.

In the Ausgrid zone covering most of metro Sydney, Origin’s rates are increasing by $246 and AGL by $212 (based on a household annual usage of 6080kWh).

QLD:

Origin Energy has revealed it will raise prices on its SEQLD plans by 3.1% on average, or $51.

AGL has revealed it will raise prices by 4.1% on average, or $73, on its standing offers.

Regional QLD bills will rise by an average $41 on July 1.

But note that SEQLD prices are to be deregulated, which usually means higher bills for those who don’t shop around.[1]

SA:

AGL is raising prices by an average $228 or 12%, Energy Australia by an average $261, and Origin by an average $117 - with other retailers expected to respond soon.

The closure of a major power plant in Port Augusta is pushing prices up and the state government has asked the ESCOSA to investigate if there is price gouging in the increases.

VIC:

Prices generally rise in January in Victoria, so Victorians will have to wait a bit longer.

WA:

No news also from WA, but watch this space.

Meanwhile...

An attempt by COAG in 2012 to control soaring power prices is now bogged in the courts after 4 years of litigation.

A result is expected late 2016 at the earliest, with the possibility of 3 years of backdated price rises to come in July 2017.

Electricity remains the #1 cost of living concern for Australian households and has been every quarter since 2014, according to the Choice Consumer Pulse Survey.[2]

Astonishingly, 1 in 4 households still get no discount because they’ve never moved providers, but according to Vinnies research[3], not shopping around can mean you pay:

  • up to 56% more in NSW,
  • up to 43% more in VIC,
  • up to 25% more in SA,
  • and up to 9% more in QLD

So click here to see the Club discounted Electricity offers and make sure you’re not paying more than you should, or call Click Energy on 1300 085 785

Originally posted on .

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Paul
Paul from QLD commented:

Our lives as pensioners are supposed to be happy and carefree!! But how can that be when the cost of power goes through the roof?!! Is this what they call "progress?" Are pensions helping us to cope?!!! I think NOT!!! Paul Leadbeater QLD. 

Patricia
Patricia from QLD commented:

What about North Qld? No competition so Ergon can charge what ever it likes (and it certainly does that. 

Lynn
Lynn from TAS commented:

Tasmania left off again 

Debra
Debra from QLD commented:

I live in Gladstone, with Ergon, have solar panels, I would like the fifty up Club would be able to get some action up in Gladstone. Debra 

Someone
Someone from TAS commented:

and what about us forgotten Tasmanians? Seems we are left out of a lot of discussions and even the weather these days. Take a look at our costs for electricity and where we are headed also. :) 

Marshall
Marshall from QLD commented:

I am in Hervey Bay also. We have a choice Ergon or live in the dark. May be The Fifty Up Club will be able to get us some action???????????????? 

Sylvia
Sylvia from QLD commented:

We are with Ergon. We hav no choice. Only supplier in Wide Bay Area. Hervey Bay 

Gertraud
Gertraud from ACT commented:

There may be some very good reasons for not switching electricity providers! When my home was built in the ACT in 2009, I arranged to have a 1.5 kW solar system installed on my roof. At the time, the ACT had a gross feed in tariff of 5.005 cents per kW, this means, all of the electricity generated by the solar panels is fed into the grid and all of the energy needed by your household is drawn down from the grid. This arrangement is for a period of 20 years (!), however, if I change providers or sell the house, the feed in tariff would change to a net feed in tariff, which is currently around 7 cents per kW. Since the system has been activated on 30 Januray 2010 and my last electricity bill of 2/5/2016, it has generated 13,360 kW of electricity which amounts to $6,686! At an average of 2100 kW per annum and assuming continued generation at this level, this amounts to 42000 kW over 20 years, or $21,000. Of course, the panels may not last that long and there is always the possibility that the ACT government terminates the old gross feed-in tariffs. But until either event happens, I would be an idiot to change to another provider! 

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