Get ready for a significant rise in your energy bills starting August 1st, 2023. Some Australians have already received emails from their energy suppliers about these upcoming changes.
Here’s what you need to know to understand and potentially avoid these increases.
$143 Bill Increase
Starting July 1st, many energy suppliers will increase their rates. This is particularly impactful for residents in Southeast Queensland.
One major supplier has announced a substantial rate hike: a 38% increase in the supply charge and a 45% increase in the usage charge.
Currently, the supply charge in Australia stands at 101.2 cents per day. With the increase, it will rise to 139.7 cents per day.
The usage charge, currently at 22.88 cents per kilowatt-hour (KWh), will go up to 33.33 cents per KWh.
Check Details
Starting in August, Australians will face higher gas bills as major energy companies implement price hikes. Residents of New South Wales and Victoria will be most affected. Origin Energy has announced gas price hikes, with residential bills in Victoria increasing by 7.3%, or $125, from August 1st. In the ACT, bills will rise by 6.5%, or $80.
Origin has already increased prices for other regions from July 1st:
- Queensland: $34 increase
- New South Wales: $83 increase
- South Australia: $66 increase
- Victoria: Increase for households on standing offers
With these rising energy rates, staying informed and exploring options is crucial. By keeping up with updates, considering other providers, and using energy wisely, you can better manage the impact of these rate hikes.
Avoiding the Increase
The Australian Government is launching initiatives to help reduce power bills and make electricity more reliable. One such program involves introducing community batteries to store energy from rooftop solar panels. This initiative aims to lower energy costs and cut emissions.
The Australian Renewable Energy Agency has approved funding for up to 370 new community batteries as part of the first round of their Community Battery Funding, providing up to $143 million in grants. This funding is expected to attract an additional $359 million in renewable energy storage investment.
What You Should Know
Energy bills are a major source of stress for many Australians. A quarter of Australians report that their energy bills are among their top three most stressful expenses. As of June, the average quarterly gas bill was $215, and the average quarterly electricity bill was $384.
To manage costs, consider the following tips:
- Shop around and compare energy plans regularly to avoid expensive standing contracts.
- If you find a better deal, ask your current provider if they can match or beat the rate.
- Save on heating costs by heating only the rooms you use most, keeping doors closed, and using DIY insulation methods. The average household will spend about $257 to heat their home this winter.
All We Know
New community batteries have been activated in locations like Bexley North, North Epping, Bondi, and Warriewood. These batteries help local communities by storing excess solar energy and making it available when the sun isn’t shining. To avoid high electricity bills, consider these steps:
- Stay updated with any communications from your energy supplier about how changes will affect your bill.
- Despite some comparison portals showing old prices, it’s worth calling other providers to inquire about their rates.
- Reduce your energy usage through simple adjustments at home.
- Join local community groups or forums to share tips and strategies for dealing with these changes.
With rising gas costs adding to already high electricity bills, many Australians are feeling the financial squeeze. Staying informed and proactive can help mitigate the impact.
FAQs
When will the $143 bill increase take effect?
The increase starts on August 1st, 2023.
Who will be most affected by the bill increase?
Residents of New South Wales and Victoria will be hardest hit.
How can I avoid the bill increase?
Consider switching providers, using less energy, and exploring government initiatives like community batteries.
What are community batteries?
Community batteries store excess solar energy from rooftop panels, helping reduce energy costs and emissions.
How can I reduce my heating costs this winter?
Heat only the rooms you use, keep doors closed, and use DIY insulation methods.
