Energy Efficiency Council: Australia could cut power bills by $7.7 billion every year

Ceyda Erem

13 Jun 2019

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New research from the Energy Efficiency Council has found that Australia has made almost no progress in the last three years to reduce energy bills and is dramatically falling behind other countries.

According to ‘The World’s First Fuel’ Report, if Aussies embraced more energy efficient habits we could cut the power bills of households and businesses by $7.7 billion every year and meet half of the nations pledge to reduce emissions by 26% - 28% by 2030.

Some of the areas Australia could improve its ‘energy efficiency’ include:

- Strengthening energy efficient standards for household appliances, homes and cars

- Providing home buyers with energy efficiency ratings once households are sold

- Making sure the markets works in favour of energy customers

- Helping businesses find ways to reduce their electricity and gas bills

“Energy efficiency is the single, most powerful tool we have to cut energy bills, improve energy security and address climate change,” said Luke Menzel, CEO, Energy Efficiency Council.

“If Australia replicated best practice from places like the United States, Germany, Japan and China it would be a gamechanger for energy affordability and the economy.”

Room from improvement

A separate analysis of the world’s 25 largest energy consuming countries revealed that Australia was the worst developed country for energy efficiency.

When it came to the question of how the nation could get back on its feet and work toward creating a more energy efficient country, Menzel believes it all starts with the government.

“Australian governments are at the back of the pack on energy efficiency. If Australia replicated best practice from places like the United States, Germany, Japan and China it would be a gamechanger for energy affordability and the economy,” he said.

At the moment, the Australian government sets the minimum standard for a number of household appliances, like fridges and televisions through the Greenhouse and Energy Minimum Standards (GEMS) program, which saves households between $140 and $220 each year on their electricity bill.

But according to the Energy Efficiency Council, while the GEM program performs similarly to overseas practises, it only covers a limited range of appliances.

One step closer to a lower power bill

But while Australia has a way to go to achieve an improved standard of energy efficiency, households can still take matters into their own hands and reduce their power bills by switching to a better value plan.

“Every electricity customer wants to be on the best or cheapest offer, but most of the time, they’re not willing to do the work and shop around for a better deal,” said Mozo energy expert, Nathan Warne.

“One misconception about shopping around and switching energy plans is that it’s a time consuming task when in reality is actually doesn’t take that long. Plus, switching is a lot easier than you think. A lot of the time, retailers do the work for you without interrupting your current electricity supply.”

So if you’re ready to take a stand against your bill, then head on over to our energy comparison tool to compare local plans in your area.

Electricity plans in NSW - rates updated daily

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