July 1 energy price updates 2018: a pleasant surprise for some
The July 1 energy changes are about to hit Aussie wallets - but the good news is households may actually see some relief from sky high energy prices in the coming financial year.
Electricity retailers in Australia update their tariffs annually, adjusting the price of power based on factors like wholesale costs, the price of distribution and network fluctuations. Unfortunately, this often means a spike in power bills for regular Aussies - last year, prices increased by up to 20%.
However this year, some of the major retailers including AGL, Origin Energy and EnergyAustralia have announced their prices will be remaining the same, or even dropping by small amounts.
“For electricity customers, it seems no news is good news this year - we’re not expecting any big decreases in the price of electricity, but there likely won’t be the massive spikes we saw last year either,” said Mozo Director Kirsty Lamont.
“Having said that, it’s vital that Aussies keep an eye on their electricity bills at this time of year to make sure they’re not overpaying. If your energy provider isn’t offering up the kind of value you want, don’t be shy about looking for a better deal.”
Key highlights from the July 1 energy price changes
- South Australia - Origin and AGL have both signalled small price decreases on household electricity bills in SA. AGL gas customers won’t be so happy though - prices for household gas are set to increase by up to 2.1%.
- New South Wales - Very little movement has been signalled for NSW electricity prices so far, but gas customers should keep an eye on their bills - Origin are set to drop prices by up to 3%, while AGL hikes prices by up to 1.8%.
- Queensland - Queenslanders are set to see the most benefit from the changes come July 1, with electricity price decreases of up to 3.8% in store. Gas, on the other hand, is set to remain relatively flat.
Keen to see whether your electricity retailer is playing nice with the price of power this year? Mozo is keeping an eye on the changes as they’re announced and crunching the numbers on what they mean for household power bills. So watch this space to see updates as they happen.
Keep in mind, these calculations are based on the average 3 person household in each state. To get an energy quote specific to your household and energy use, head over to our energy comparison tool.
Snag a red hot energy plan in your area
Unhappy with your energy provider after the changes? Check out some of the great plans on offer in different states below:
Powershop was voted Australia’s Greenest Power Company by GreenPeace - no surprise when you can score 100% renewable energy at no extra cost and a 14% discount when you pay via the online shop.
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100% Aussie owned and operated, Energy Locals have a simple, transparent price structure, so there are no complicated discounts and conditions to worry about - just great rates.
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Owned by Australia’s largest generator of renewable energy, Momentum Energy is power you can feel good about - plus, you can score a $50 sign up bonus.
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Or you can head over to our energy price comparison tool to see what kind of value you could get from a wide range of providers.