From rates to tariffs and random fees, it’s no wonder energy bills have a reputation of being difficult to comprehend. Unfortunately, it often means many Aussies pick up a few myths on the way to understanding their energy bill. So, if one of your goals this year is to get on top of your personal finance, we’ve jotted down four energy bill myths to be aware of.
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With summer only days away, many Aussies may have already started gearing up for another scorching three months. And between swapping out your bed sheets and picking up some new shorts, switching energy plans might be another thing to add to your to-do list. But if you’re keen to make the process a little more worthwhile, why not opt for a plan that’s got more than just competitive rates. Whether you’re a rewards lover or are keen to hook up a mate, we’ve rounded up four hot energy offers we think are worth taking a look at.
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With summer right around the corner energy retailer Alinta Energy has reduced electricity prices on its HomeDeal plan this week for customers in New South Wales and Victoria. New South Wales residents within the Ausgrid distribution zone could see reductions of up to 25% off the reference price*, while Victorians in the CitiPower distribution area can expect to see rates reduced by up to 19% off the reference price.** A quick recap: the energy reference price refers to the Default Market Offer (DMO) and is a price cap on what energy retailers can charge on standing offers. Victoria offers the same, however it is recognised as the Victorian Default Offer (VDO). According to Alinta Energy’s general manager of sales and marketing Jane Mills, the decision to reduce prices is a response to record low wholesale electricity prices. “We’re in an environment where wholesale electricity prices are falling and we are going to compete hard for customers off the back of that,” she said. “Our new HomeDeal rates are available to new customers signing up via web or phone or to existing customers who would like to review their plan via phone.” Aside from newly discounted rates, the HomeDeal energy plan features no lock in contracts or exit fees, flexible payment options and access to Reward Shop discounts. Alinta has also slashed rates on their BusinessDeal plan for small business customers, cutting electricity rates of up to 26% off the reference price in NSW (Ausgrid distribution zone) and up to 15% off the VDO price in VIC (CitiPower distribution zone). The retailer has also launched small business gas products across NSW, SA and SE-QLD, with Victoria soon to follow on 14 December, 2020. Want to find out how the Alinta Energy HomeDeal energy plan stacks up to other offers in the market? Head on over to our energy comparison tool! *Based on a customer who consumes 3900 kWh a year on a single rate tariff in the Ausgrid network. **Based on a customer who consumes 4000 kWh a year on a single rate tariff in the CitiPower network
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In an effort to keep households on top of their energy bills and improve the energy efficiency for the state, the Victorian government yesterday unveiled a $797 million energy package. Almost one million Victorians will receive a one-off $250 payment to help pay for their energy bills. Those that are eligible for the payment include concession card holders, anyone receiving JobSeeker, youth allowance or the pension. According to Energy Minister, Lily D'Ambrosio, this package is the “biggest household energy efficiency package in any state's history.”"It will make a significant difference to people's power bills, it will put money back into the pockets of Victorians, it will create thousands of jobs and, of course, reduce our emissions," she said.The $250 payment will be available online from 1 February to 31 January 2022. Information on how to register can be found here on the Victorian Govt's Energy Site .
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Increasingly Aussie households are playing a role in reducing our nation’s carbon footprint and the numbers support this.According to Origin Energy 44% of Aussies made the switch over to solar power to reduce their own greenhouse gas emissions, while 65% said their motivation was to reduce their reliance on buying electricity from the grid. And the good news is, installing solar panels has many other benefits besides supporting a cleaner future.The retailer found that reducing a household’s energy bill was the biggest motivation (90%) for installing solar panels, with a whopping 92% of Aussies feeling extremely or very satisfied with the energy bill savings their panels have produced. Half of Aussies who had solar panels installed also feel less guilty about running their heating and cooling appliances.
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At the end of September this year, a community owned renewable energy hub was unveiled in Narrabri, New South Wales. Partnered with Byron Bay-based energy provider Enova, the new not-for-profit organisation, ‘Geni.Energy’ aims to give support and encourage locals to get involved in a community-owned renewable energy project.
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Over the long weekend Western Australia Premier Mark McGowan announced that every WA household will be receiving a $600 electricity bill credit sometime this week. According to the Premier, the credit is expected to cover around four months worth of electricity expenses and is being provided to encourage WA households to increase their spending in preparation for Christmas. “This will give families the confidence to spend over Christmas and to make sure they support local businesses,” McGowan told reporters on Sunday. “We’re climbing out of COVID very rapidly. Our economy is the strongest in Australia. But we still want to give consumers confidence to spend over the coming months and this allows us to do that.”
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Over two million Australian homes are now fitted out with rooftop solar, allowing households to reap the benefits of lower energy bills. But not all energy plans are alike, so how can solar households ensure that they’re getting the cheapest electricity possible?
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How much do you pay for electricity every year? $1,200? $1,500? More?
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Energy report quick facts:
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