Energy news and advice

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

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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Aussies ready for electric vehicles but stuck in neutral

Aussies ready for electric vehicles but stuck in neutral

From picking up the latest smartphone to downloading new apps, Aussies love getting their hands on the latest technology. And according to new research from the Electric Vehicle Council, our nation is more than ready to welcome in the latest way to travel. The State of Electric Vehicles Report 2020 revealed that not only were 3,266 electric vehicles (EV) purchased at the start of 2020, but 56% of Aussies would now consider purchasing an EV as their next car. “Our report is showing that Australian consumers want these cars,” chief executive of the council, Behyad Jafari said in an interview with The Guardian. “There is no controversy that the future of the industry is electric, but at the moment the industry is looking at different markets. We want policies that show [Australia] is going on this journey.”‘Environmental benefits’ was the top reason given as to why Aussie drivers would consider purchasing an EV, followed by ‘lower running and maintenance costs’ and the ‘EV’s running performance’. Almost half (46%) of Aussies even mentioned they would use renewable energy to charge their EV, with 31% using the electricity generated from their rooftop solar or battery, while 14% would opt for an electricity plan that sources green power. However, EV cost and accessibility to charging stations are still holding Aussies back from taking the plunge.

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Electricity and gas prices at their lowest in five years says aer

Electricity and gas prices at their lowest in five years, says AER

For many Aussies, staying on top of the latest news updates can often leave us feeling disheartened and unsure about the future. But according to new figures from the Australian Energy Regulator (AER), there might be a glimmer of hope for households looking to save money. The AER Wholesale Market Quarterly report reveals that wholesale electricity prices are at their lowest since the 2014/15 financial year, ranging between $56 per MWh in Queensland and $84 per MWh in Victoria. AER chair Clare Savage says the reason for the sharp fall was the result of lower fuel costs for generators and a notable increase in renewable energy generation with large-scale solar and wind power.The combination of both renewable sources to the total generation increased from 6% to 13% over the last three years, while coal contribution has dropped from 77% to 71%. The report also found that there was a lower demand for the grid during summer, as more households are choosing to meet their electricity needs by using rooftop solar. These results correlate with earlier findings by the Australian Competition and Consumer Commission (ACCC) which found that since the Covid-19 pandemic began, both wholesale electricity and gas prices experienced a drop. "It is pleasing to see some energy retailers have responded to the lower wholesale prices by offering new deals to their customers. Energy companies must put energy consumers first especially as many struggle with the impact of the COVID-19 pandemic,” said Energy Minister, Angus Taylor. However, the report also noted that it could still take a while for these lower prices to be reflected in a household’s annual bill. This is because retailers and generators enter into contracts in order to manage the risk of fluctuating prices and some contracts may have been started when prices were higher than now.But that doesn’t mean Aussie households should have to wait around to see a difference in their energy bill. You can use our energy comparison tool to compare energy plans that are available in your area. All you need to do is answer a few questions about your household’s usage and you’re on your way!

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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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Energy bill anxiety how to keep costs down this winter

Energy bill anxiety: How to keep costs down this winter

While things might be a little different to this time last year, one thing that hasn’t changed is the winter chill. And unfortunately, as a large number of Aussies spend the majority of their time indoors, a jaw-dropping energy bill is to be expected. According to recent data by energy company Jemena, our electricity usage has jumped by 16% compared to this time last year, while businesses experienced a fall in electricity usage of between 10% - 12%. With Aussies having to tighten their wallets to manage expenses during the pandemic, a higher bill is far from ideal. According to Professor Sara Wikinson at University of Technology Sydney, some households are doing everything they can to soften the blow. She said that older Aussies are reducing their consumption by either cutting back their use of heating appliances, going to bed fully clothed or even skipping showers. "People are spending almost all their time at home, which is obviously pushing up their energy consumption. And [their] ability to hang out somewhere warm in the mall or community centre has gone," Wilkinson said. However, Powershop chief executive Jason Stein said that drastic measures are not always necessary and that simple savings can be made around the home. “With Australians spending more time at home this winter, energy bills may be higher. [But] there are some simple things you can do to try and keep your energy bills down and help save money,” Stein said. He recommended setting “your heater thermostat between 18–20°C in living areas, [as] every extra degree adds 10% to your heating bill.”“Switching off the game console after use could save a household of four up to $193 a year,” Stein said. Other tips include ditching your dryer for a clothes horse, investing in door snakes to plug draughts and improve insulation. And remember to switch off lights when you leave a room. If you’d like more energy savings tips that’ll not only keep you warm but keep costs down this winter, head on over to our energy savings tips hub!

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