Energy news and advice

All the latest energy news and top tips to help you manage your energy.

Energy question is demand management key to slashing electricity bills

Energy question: Is demand management key to slashing electricity bills?

And since the nation is spending more time indoors, experimenting with different pastimes and hobbies has become the norm. But according to new research by Origin Energy, some households are interested in doing more than just hunting down a new Netflix series. In fact, they’re looking to slash their energy bill and be rewarded for it with a concept called ‘demand management’. Origin found that 76% of Aussies are willing to adjust the temperature on their heating or cooling appliances to receive financial incentives or rewards. More than half (58%) would be okay with their energy provider contacting them via text to encourage them to adjust temperature settings. In short, demand management is a concept that asks energy users to reduce their consumption entirely during hours when electricity demand is at its highest in exchange for an incentive, such as a gift card or credit on your annual bill.  Demand management has grown in popularity over the year, both among retailers and regulatory bodies, as it has the potential to benefit both energy customers and the industry. “Demand management helps to reduce strain on the network when the balance between supply and demand can be tight, and also assist with the transition towards a cleaner, smarter energy system in Australia,” said Origin executive general manager retail, Jon Briskin. “While customers will be rewarded for shifting their energy use, the broader network will also benefit as we can help reduce demand, and support grid stability during peak periods.

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Origin energy to reward customers with cash for reducing energy consumption

Origin Energy to reward customers with cash for reducing energy consumption

What would it take for you to switch up your energy habits? How does $250 worth of rewards sound? That’s right, Origin Energy customers now have the chance to earn gift cards or Paypal cash, as part of a new online program called Spike, simply by reducing their energy consumption during peak demand periods. “Origin Spike is the first program of its kind in the Australian energy market - it’s a simple and fun way for customers to get some extra cash in their pocket as a reward for making small changes to their energy use,” said Origin executive general manager retail, Jon Briskin. Some of the ways Origin customers can participate in the program include adjusting their air conditioner temperature by a few degrees for an hour, or delaying the use of certain appliances, like the washing machine, dryer or dishwasher. Participants who regularly reduce their electricity consumption by 60% during ‘Spike hours’ have the potential to earn $250 worth of rewards annually. And according to Briskin, the Spike initiative does more than just treat customers for ditching old habits. “While customers will be rewarded for shifting their energy use, the broader network will also benefit as we can help reduce demand, and support grid stability during peak periods,” he said. Just keep in mind that Origin customers will need to have a remote-read smart meter in order to participate in the Sprike program.

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Victorian small businesses to receive more support with energy bills

Victorian small businesses to receive more support with energy bills

With Victorians in lockdown to stop the spread of Covid-19, small businesses may once again be left feeling vulnerable. To help, the Essential Services Commission (ESC) has announced it would be introducing a new mandatory guideline that asks retailers to provide assistance to small businesses experiencing financial stress. The guideline is expected to come into effect on 1 October 2020 for six months, however may be extended should it be necessary. “While Victoria already has the most comprehensive safety net for residential customers in the country, we have added additional protections for customers who are behind on payments,” said Commission chair, Kate Symons.“There’s a new requirement for retailers to provide practical, hands on help to customers to apply for utility relief grants as well as expanding a requirement to offer price checks for anyone who has fallen behind on their energy bills.” And while there was no set definition of ‘financial stress’ in the ECS’s guideline document, retailers still have a range of relief assistance options they must extend to small businesses. Some of the assistance retailers must provide small businesses at a minimum include:

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Energy affordability covid 19 has given australia the opportunity to hit reset

Energy affordability: Covid-19 has given Australia the opportunity to hit reset

Although many Aussies believe life will never return to the way it once was, the Australian Competition and Consumer Commission (ACCC) is using it as an opportunity to give the energy market a refresh. On Wednesday, ACCC chair Rod Sims said that Australia has hit a “tipping point” for energy affordability. Speaking at the Energy Users Association of Australia (EUAA) 2020 National Conference, Sims said there’s “an opportunity to reset affordability and competition in energy markets” for large energy users like businesses. “This dreadful pandemic we are all experiencing has caused significant personal hardship to many Australians as well as enormous economic disruption for businesses, small and large,” he said. The regulatory body explained that commercial and industry users have had their electricity bills skyrocket by 61% between the 2007/08 and 2018/19 financial year. For large energy users, wholesale electricity prices make up to 53% of their annual bill, compared to one-third for residential users. So with the good news that wholesale electricity and gas prices are their lowest point in five years, businesses will have the chance to come out on top within the following year. In early June, Mozo reported on the new energy reform called the wholesale demand response, which is set to come into effect in October 2021. Under the wholesale demand response, larger energy users like businesses choose to reduce their electricity consumption during peak periods and in return, will receive an incentive, such as a credit toward their annual bill. According to Sims, this new mechanism will do more than just give Aussies businesses a leg up. The wholesale demand response is also expected to reduce costs and increase competition. “The reduction in wholesale prices is positive and, together with large energy users continuing to be active participants in both the energy market and non-energy mechanisms, this is the opportunity to restore Australian businesses’ international competitiveness,” said Sims. If your small business is still up and running during the Covid-19 pandemic, there are a few things you can do to help reduce your energy costs. You can check out our small business energy savings tips page for more information.Or if you’d like to make the switch to a better deal, head on over to our energy comparison tool get started.

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How covid 19 has had a positive impact on renewable energy

How Covid-19 has had a positive impact on renewable energy

Although our electricity usage may have skyrocketed during the Covid-19 lockdown, different strands of research have shown that wholesale electricity prices are on the decline. More recently, industry researcher IBISWorld found that because wholesale prices have dropped to their lowest in five years, the success of coal-fired power stations has dropped, while investment in renewable generators is on the up. “The closure of businesses across the economy has contributed to a sharp downturn in electricity demand from commercial markets,” said IBISWorld senior industry analyst, James Caldwell. “At the same time, growth in the number of Australians working and studying from home has contributed to a strong upswing in electricity demand from residential customers.” According to Caldwell, electricity demand is estimated to have fallen by 4% during the 2019/20 financial year - 2% of that figure can be attributed to the Covid-19 outbreak and the remaining 2% is due to an increased uptake in small-scale solar systems. IBISWorld also predicts that households could see a difference in their annual bill, as the drop in wholesale prices will bring on a 15% decline in revenue for the electricity market.

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Energy rule change will support retailers during covid 19 says aemc

Energy rule change will support retailers during Covid-19, says AEMC

The Australian Energy Market Commission (AEMC) says it will be going ahead with a recently proposed rule change to assist struggling energy retailers. At the start of June, Mozo reported on the (AEMC) announcement that it would be considering extending its relief support to energy retailers, as the rising number of customers deferring charges was causing financial strain. Under the rule change, energy retailers are permitted to delay some of their network charges for up to six months in order to stay in business and prevent a supply disruption for customers. According to the AEMC's acting chair, Merryn York, the decision will help prevent smaller players from shutting down and larger retailers from taking on more than they can manage. “We want to avoid the domino effect of multiple retailers failing because this would put immense pressure on the remaining businesses to service larger numbers of customers unable to pay their bills during the pandemic,” York said. “This could reduce choice and increase prices.”

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Articles

5 ways renters can save on their energy bill all year round

Last week, the Australian Capital Territory government announced it would be expanding its ACT Home Assessment Energy Scheme to renters. The ACT Home Assessment Energy Scheme is an initiative that provides free in-house energy assessments to discover areas where households can save on their energy bills. “It can be very hard for renters to make major energy-saving changes to their home. By expanding this program, we are able to provide renters with tailored information,”  said Minister for Climate Change and Sustainability, Shane Rattenbury. But while this is good news for renters in the ACT, it doesn’t mean the rest of the country should miss out on energy savings insights. So we’ve jotted down five energy saving tips for renters that can help keep costs down all year round.

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Energy savings vdo to be extended to all vic customers

Energy savings: VDO to be extended to all VIC customers

In July last year, the Victorian energy market went under intensive reform to improve prices and transparency for residents and was called the Victorian Default Offer (VDO).The VDO imposed a price cap on standing offers, which meant that retailers could no longer charge exorbitant prices for these energy plans. All previous customers on standing offer plans were then rolled onto the VDO. This week the Essential Service Commision (ESC) announced that from 1 September 2020, it will be extending the VDO to energy customers living in embedded networks, like caravans, retirement villages and even small businesses. According to the ESC, more than 104,000 customers will benefit from this reform. “Embedded network customers have not been fully covered by the same price protections as other Victorians. This ensures they now have access to a fair deal with significant savings for some,” said ESC pricing director, Marcus Crudden. Crudden said customers within embedded networks are expected to save between $180 to $360 annually, while small businesses could see savings of between $900 to $2,220.

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Energy prices which retailer offers the cheapest electricity plan

Energy prices: which retailer offers the cheapest electricity plan?

Within the next few weeks, many Aussie households are expected to receive their latest energy bill. And for some, it won’t be good news. In fact, according to Mozo research the average household is expected to fork out an extra $88 a month due to an increase in electricity usage because of the Covid-19 lockdown. But there may be a silver lining on the horizon, as many retailers are acknowledging the financial strain the Covid-19 pandemic has had on Aussie wallets by announcing price decreases. On 1 July 2020, close to 20 retailers announced they would be cutting the electricity prices for customers located in either New South Wales, South Australia, South-East Queensland or the Australian Capital Territory. And in some instances, retailers have vowed to cut prices in all three states, like Powershop. “We are pleased to be able to bring some much needed relief to households in NSW, SE-QLD and SA, especially during winter and given many of our customers are spending more time at home, which may lead to higher power bills,” said Powershop CEO, Jason Stein. “Our existing residential customers saw our prices decrease on average by approximately 14.2% in South Australia, 8.7% in New South Wales and 7.5% in South East Queensland.” Other retailers cutting prices across NSW, SE-QLD and SA included energy giant, Origin Energy, Simply Energy and newcomer, Kogan Energy.

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