AUSSIES HIT WITH UP TO $800 MORE IN ENERGY COSTS

Wed 26 July 2023:

Aussies will soon find themselves having to choose between staying warm or being able to afford their energy bills as the cooler weather hits its peak.

Some energy providers are charging over $800 more than a year ago, according to analysis by Finder, Yahoo News reported.

Aussies living in South Australia would be hit with the worst hikes to their power bills, the research found.

For SA, annual estimates for residential households saw a price jump of between 22 and 63 percent. That’s more than $800 for some people.

NSW bill estimates for the year saw an increase of 15 to 36 percent – a price difference of up to $420 for some customers.

In Victoria, prices were bumped by 22 to 31 percent. That’s a price difference of up to $396 per year. More price pain will be felt from August 1 when VIC energy providers officially hit existing customers with higher prices.

In QLD, annual price estimates rose by 8 to 41 percent. That’s up to a whopping $548 in price difference.

More than three quarters (79 percent) of Australians planned to cut back on electricity usage in winter as energy prices increased nationwide, a Finder survey of 1,090 respondents revealed.

That’s 7.3 million households who would be changing their habits to keep a cap on bills.

Finder Energy Expert Mariam Gabaji said high electricity prices were about to get even worse.

“Millions of Aussies need a reprieve and are taking matters into their own hands by cutting their usage,” Gabaji said.

“Some retailers are sending out notices informing customers of massive increases to their power rates, which will lead to widespread bill shock without urgent action,” Gabaji added.

More than half (56 percent) of Aussies planned to switch off lights and power points when not in use, while 54 percent would have to cut down on how much they used their heater or air conditioner.

Gabaji said switching to a cheaper energy plan was the most effective way for households to safeguard themselves.

“Make sure you’re on one of the cheapest plans and switch again in six to 12 months if you find a better deal,” Gabaji said.

“Call your retailer to negotiate a cheaper deal, while simultaneously shopping around to see if you can do even better with another provider,” she added.

“State and federal governments have announced billions of dollars in extra relief, so check if you are eligible for any extra assistance,” Gabaji said.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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