This year people are behaving differently and, understandably, there’s a big reason for them to.
What’s changed is the huge increase in the wholesale cost of power. It’s up by 70% in the last 12 months and looks set to continue. This graph shows the rising cost of buying futures wholesale power over the past 12 months nationally. Which means, retailers are having to pay more to buy the power they want to sell to you.
When the weather gets hotter, homes and businesses consume more power, often due to air-conditioning systems. At Choice Energy we hear from our customers frequently at this time of year as they want to ensure the price they are paying for power is competitive. It’s important all year round but the more power you use, the greater you could save by switching providers.
Source: ASX, Australian Power Index
Some of the notable retailer price rises effective as of 1st January 2017 can be seen below:
Source: National newspapers including The Age and Herald Sun
Due to the scheduled closure of Hazelwood power station, businesses and homes will be wondering if they are part way along a similar journey to those in South Australia where, following the closure of the Northern power station, the crippling cost of power has been well documented.
What can I do about my Bill Shock?
Seek guidance from an energy expert who can cut through the jargon and do all the heavy lifting for you, much the same way your accountant handles your tax.
Choice Energy has a range of energy-saving solutions you can benefit from, including:
- Procurement of energy retail contracts
- Network tariff and demand reduction
- Commercial solar & battery
- LED lighting
- Power factor correction
- Metering and monitoring
At Choice Energy, we have helped thousands of businesses and homes reduce their energy costs.
Can we help you?