It’s only the second week of July and already a whole lot has happened.
The newest “it” couple TAY-TAY and Tom have arrived on Australian shores, Pauline Hanson’s One Nation party has been elected back into Parliament (thanks Queensland) and more quietly energy providers have hiked up the cost of their electricity plans.
We know the latter is probably the most outrageous news of all!
Well it’s the one news that is going to hit Aussie households across SA, QLD, NSW and ACT hardest in the hip pocket (Victoria had its energy price updates in January). For instance, our research shows a family of 3 living in South Australia could see their electricity bills go up by over $300 each year.
While the decision to increase electricity prices is outside your hands as a consumer, that doesn’t mean you should sit back and watch your energy bills rise, as there are plenty of things that can be done to slash this cost. Here are just a few of them:
1. Take advantage of incentives to switch.
Right now the energy market is packed with competitive offers for households looking to switch. For instance Dodo Power is offering $100 off your first bill (for residents of NSW, SA and QLD) and Momentum Energy is enticing NSW and SA residents with a $50 credit if you switch online. And that’s just a taste of the incentives currently available now, use our energy tool to see what other offers are available for your area.
2. Sign up to a flexible pricing plan.
Depending on the area you live in, the option of a flexible pricing plan may be available. How it works is when you sign up you’ll receive a smart meter that records your electricity usage at different times during the day. And if you’re willing to do things like your washing and cooking outside of peak times (e.g late at night or early in the morning) then you’ll receive a better rate – which could be a great strategy for bringing down your energy bill.
3. Use appliances the smart way.
According to yourenergysavings.gov.au appliances make up a huge chunk of your energy bill, accounting for around 33%. Their advice? Simply turn off any fridges and freezers that are not being used (you know the one in the garage) and dry clothes the old fashioned way by hanging them out rather than using the dryer, which is a real energy guzzler.
For more information on the electricity price hikes that kicked off from July 1, head on over to our electricity price update page or to reduce the cost of your next electricity bill read our top winter energy savings tips here.