Origin Energy to the rescue ahead of South Australian summer, but what about 2018?
168,000 South Australian residents will be offered the chance to slash up to $531 off their annual energy bills thanks to a new partnership between Origin Energy and the Weatherill State Government, but the outlook isn’t looking so pretty for the rest of the market in 2018.
The discounts will be available to residents who are eligible for the existing Government energy concession but delivers price cuts that greatly outweigh the current $217 discount on offer.
“We’re providing real cost of living relief to those who need it most,” said South Australian Premier, Jay Weatherill.
“For the 168,000 South Australian households on lower incomes, a saving of up to $531 is a significant boost to their budget. It’s a saving that will make their lives that little bit easier.”
|What exactly is Origin Energy offering?|
|A guaranteed 18% discount on usage and supply charges|
|No paper bills|
|Flexible payment options|
|No late payment fees|
|No processing fees|
|No credit card fees|
|No exit fees|
Designed to be “as easy as possible” to take up, Aussies eligible for the new discount will be notified by mail and can get themselves on the energy plan simply by signing the letter and returning it.
Although this initiative will provide much-needed relief to Aussies feeling the energy price pinch, energy experts have warned that South Australia’s most pricey energy year is yet to come.
“We’re seeing some real issues with supply and demand, and that’s why the summer of 2018 is at such elevated levels of price, and nervousness,” Energy Action’s general manager of market solutions, David Rylah told Fairfax Media.
Rylah believes that projected price hikes are due to a combination of factors.
Firstly, the closure of the Hazelwood coal-fired power station in Victoria means South Australia can no longer rely on imported energy from their eastern neighbour and secondly, the newly-installed Tesla battery is yet to assure energy retailers of supply issues.
“What the market pricing is saying is ‘we’re in for a rough ride this summer, but we think things will get sorted out by the time we get to the following summer’ ”, he said.
In the meantime, South Australian residents can prepare for a tough year of hiked energy prices by switching to the cheapest energy plan on the market, with recent data from Mozo revealing savings of up to $737 when doing so.
“Mozo’s analysis shows the annual savings the average household can make by switching to the cheapest energy plan in the market have increased significantly over the past 12 months. This goes to show that even if you switched energy providers this time last year, there is a good chance that there is an even better deal out there,” said Mozo Director, Kirsty Lamont.
To get yourself on a great value energy plan before that summer energy bill drops in your inbox, head to Mozo’s state-sensitive energy comparison tables where you can compare a range of plans that suit your family and their energy needs.