News that electricity bills will rise on July 1 will concern many homeowners already challenged by servicing their mortgages.
The Australian Energy Regulator (AER) has released its price caps for NSW (+23.7%), SE Queensland (+19.8%) and South Australia (+21.8%).
Victoria’s Essential Services Commission (ESC) has also proposed a 30% increase, which would hike an average annual bill by $430, from $1,400 to around $1,850.
These energy-saving tips may help you keep the costs down.
Shop around
The energy regulator claims you can reduce your bill by nearly 20% right now by negotiating a better deal with your current provider or a rival.
Right price
You can use a couple of government websites to research the various offers in the market. Go to Energy Made Simple or Victoria’s Energy Compare sites to begin your search for a better deal.
Turn it down
Pay attention to energy hogs like heating, cooling, swimming pools, and hot water. One-third of your electricity bill is used in this way. You can reduce your bill by 10% simply by turning down the thermostat for heating by one degree.
Feeling squeezed
Every electricity provider will have a hardship unit trained to help you get through a difficult financial period. Ask them about support programs from government and no-profit agencies.
Rebates
Investigate government rebates and concessions. Over $1,000 in rebates may already be available in some states. More help is on the way, judging by promises being made in NSW and Victoria, where homes are already eligible for a $250 Power Saving Award. Visit energy.gov.au to find out if you qualify for any rebates or discounts.