Latest news with #CanstarBlue
9 News
5 days ago
- Business
- 9 News
Aussies are spending way more on booze than they were last year
Your web browser is no longer supported. To improve your experience update it here Households might be holding back on their spending, but there's one thing Australians have been happy to splash out on recently: booze. New ABS data released this morning showed spending growth was essentially flat in April, rising by just 0.1 per cent for the month, it fell 1.2 when only goods were considered. That came on the back of fresh GDP figures yesterday , which showed the proportion of income Australians are saving has risen to 5.2 per cent – up from less than 4 per cent late last year. Australians are spending more on beer each month than they were this time last year. (Chris Hopkins) But while households are clearly still keeping their belts tight after years of high inflation and interest rate rises, they've been happy to spend more on alcohol recently. A survey by comparison site Canstar Blue found Australians are spending $77 on wine every month, on average, an increase of 17 per cent from the same time last year, when the figure was sitting at $66. The jump in beer spending has been even steeper: up 30 per cent, going from $76 to $99. That's well in excess of inflation, as the average price of beer rose a far more modest 4.5 per cent in the 12 months to March. Spending on wine is also up, although not by as much. (Louie Douvis/AFR) "The Easter holidays helped pick up spending slightly for the month of April, but these latest figures show households chose to spend more on experiences than on discretionary items, like clothing and footwear," Canstar Blue spokesperson Eden Radford said. "Despite spending on alcoholic beverages and tobacco falling for the month, Canstar Blue research shows average monthly spending specifically on wine and beer has increased over the last year, with survey data showing $99 for beer and $77 for wine. "If this month's figures are anything to go by, households will continue to keep a close eye on their budgets, with many likely holding out for big sale seasons or tax returns, before making any big purchases." Yesterday's relatively weak GDP figures have fuelled expectations that the Reserve Bank will reduce interest rates again when it next meets in July, with the market now pricing in an 86 per cent chance of a cut, up from 81 per cent on Tuesday. Consumer national Australia money Cost of Living finance alcohol CONTACT US
The Australian
26-05-2025
- Business
- The Australian
Households face up to $228 electricity bill hike after AER issues final default market prices
NSW households could have energy bill increases of up to 9.7 per cent from July 1, with South Australian and south east Queensland customers facing a hit of up to 3.7 per cent, according to the energy regulator. The figures were released in the final determination of the Default Market Offer, set by the Australian Energy Regulator (AER) on Monday. The offer sets the maximum price caps for bill increases for residential customers on default plans, about 8 per cent of customers, and come into affect from the new 2025-26 financial year beginning on July 1. Households in south east Queensland will see prices increase by 0.5 per cent to 3.7 per cent, South Australians face price hikes of between 2.3 per cent and 3.2 per cent, while NSW residents will be hit the hardest, with increases between 8.3 per cent and 9.7 per cent. Prices for NSW residents were slightly higher than the hikes listed in the AER's April draft determination. NSW residents could face an annual bill hike of up to 9.7 per cent in the 2025-26 financial year. Picture: NewsWire/ Gaye Gerard Modelling by Canstar Blue estimates households on default plans could see their power bills increase by $71 to $228 over the next financial year. NSW customers with retailers who source their energy from Essential Energy, one of the state's three electricity distributors, could see their bills increase by 9.1 per cent, with the average annual bill rising from $2513 to $2741. Although the price caps only apply to the minority of residential customers on default plans, Compare the Market's head of energy Meredith O'Brien said the offer would likely result in price charges across the market. 'Whether or not you're on a standing offer, we know that households across Victoria, South Australia, South East Queensland and NSW will likely see changes to their electricity prices from 1 July as a result of today's determination,' she said. 'When the price of electricity standing offers change, so too do other plans on the market.' Energy Minister Chris Bowen acknowledged that energy bills remained 'too high,' and urged households to compare plans using platform's like the government's Energy Made Easy comparison tool. 'With energy plans that are between 18 per cent and 27 per cent cheaper than the DMO it's worth shopping around,' he said. 'We also know 80 per cent of households aren't on the cheapest energy plan they could be which is why we're making it easier for households to find and switch to better plans. Check the Energy Made Easy website or for the cheapest plans in your area.' Energy Minister Chris Bowen urged households to compare prices and switch to a cheaper plan. Picture: NewsWire/ Martin Ollman Coalition energy spokesman Ted O'Brien seized on the increases to the increase to prices, and said bills would continue to go up under Labor. 'While the Opposition acknowledges it did not meet expectations at the recent election the fundamental issues in Australia's energy market under Labor persist – prices continue to rise,' he said. 'The Coalition will take the time to listen and to get it right, but the message from Australian families remains consistent – prices remain too high and the pressure is mounting. 'Constant assurances of cheaper power from the Albanese Government have not been born out. 'Australians are asking their government a simple question today: when will these price rises stop?' Canstar Blue's data insights director Sally Tindal also urged customers to compare plans, stating consumers could save more than $400 a year. 'If you get a note from your provider telling you your electricity prices are on the rise, use it as an opportunity to check whether there's a cheaper plan out there,' she said, telling households to act before the July 1 deadline. 'Switching now should not preclude you from checking again in a few months time after the dust has settled on the price hikes, provided you're not on a plan with a lock-in contract. 'Our research shows switching from an average priced plan to one of the lowest in the market could save you over $400 a year in some cases – this for some households could be enough to mitigate the upcoming price hikes.' AER chair Clare Savage attributed the increases to the rising cost of energy production. 'We know this is not welcome news for consumers in the current cost-of-living environment,' she said. 'As noted in our draft determination, sustained pressures across almost all components of the DMO have driven these price rises, with wholesale and network costs rising in most jurisdictions between 1 per cent and 11 per cent, and retail costs between 8 per cent and 35 per cent compared with last year.' Jessica Wang NewsWire Federal Politics Reporter Jessica Wang is a federal politics reporter for NewsWire based in the Canberra Press Gallery. She previously covered NSW state politics for the Wire and has also worked at and Mamamia covering breaking news, entertainment, and lifestyle. @imjesswang_ Jessica Wang
News.com.au
26-05-2025
- Business
- News.com.au
Households face up to $228 electricity bill shock after Australian Energy Regulator issues final default market prices
NSW households could have energy bill increases of up to 9.7 per cent from July 1, with South Australian and south east Queensland customers facing a hit of up to 3.7 per cent, according to the energy regulator. The figures were released in the final determination of the Default Market Offer, set by the Australian Energy Regulator (AER) on Monday. The offer sets the maximum price caps for bill increases for residential customers on standing offer plans in the 2025-26 financial year. Households in south east Queensland will see prices increase by 0.5 per cent to 3.7 per cent, South Australians face price hikes of between 2.3 per cent and 3.2 per cent, while NSW residents will be hit the hardest, with increases between 8.3 per cent and 9.7 per cent. Prices for NSW residents were slightly higher than the hikes listed in the AER's April draft determination. AER chair Clare Savage attributed the increases to the rising cost of energy production. 'We know this is not welcome news for consumers in the current cost-of-living environment,' she said. 'As noted in our draft determination, sustained pressures across almost all components of the DMO have driven these price rises, with wholesale and network costs rising in most jurisdictions between 1 per cent and 11 per cent, and retail costs between 8 per cent and 35 per cent compared with last year.' Modelling by Canstar Blue estimates annual power prices for the 2025-26 financial year will increase between $71 to $228 for households. The increase will hit NSW customers with Essential Energy the hardest, with the average annual electricity bill tipped to increase by 9.1 per cent from $2513 to $2741.
The Guardian
14-03-2025
- Business
- The Guardian
Australians are about to get bigger electricity bills. What can you do to keep costs down?
Hundreds of thousands of Australians will be slugged with higher energy prices after 1 July, as authorities warn they will be upping the maximum level energy companies can charge. The headache for households will come as the federal government's $300 energy rebate ends and the country goes into winter. As consumers brace for this triple threat of bill pain, experts say there are small things owners and renters can do to help elevate the pressure in their hip pockets. Energy companies are required to tell you if you're not on the cheapest plan, says the Canstar Blue data insights director, Sally Tindall. 'It typically is on page one, and it says you could be saving money on a cheaper plan,' Tindall says. 'If you've got that message on your bill, that's a red flag that you need to haul your electricity provider over the coals and make sure that you're on a competitively priced plan that suits your needs.' Data from Canstar shows Sydney consumers could save $385, Melbourne consumers could save $318 and Brisbane residents could save $475 by switching from the average plan to the most affordable. In Adelaide, the possible savings are $424, while in Hobart it's $139 and $444 for Canberra. Some consumers have taken the set-and-forget approach to their electricity, but Liz Stephens, Energy Consumers Australia's general manager, says people should be savvy and shop around. 'The energy market is basically designed to encourage 'honeymoon deals' to acquire new customers – and it then puts the onus on the customer to switch once the honeymoon period ends,' Stephens says. Consumers can check the Energy Made Easy website, a free Australian government energy price comparison service for households and small businesses, she says. It takes about 15 minutes and can save hundreds of dollars. She recommends people use it once, if not twice, a year. Sign up for Guardian Australia's breaking news email Homeowners have the option of investing in solar or insulation, which can save thousands in the long run. But it's harder for renters, Tindall says. If the landlord agrees, renters can use sealant or tape to fix drafts and holes, which can help keep in warm air in winter and keep it out in summer. 'Even things like making sure the fridge is in an efficient location can have an impact on how much energy it uses,' she says. 'Keeping your fridge away from direct sunlight, keeping your fridge away from an oven, they're really important things to think about.' Throwing rugs over tiled areas; using heavy curtains; closing them to keep the heat out in the day, or opening them in winter; can help too, she says. Small changes to the use of power can make a big difference, Tindall says. Making sure appliances are turned off at the wall when you're cooking on the stove, putting a lid on, and using an air fryer over the oven where possible, are all small tweaks that can add up. 'Having shorter showers,' she says. 'No one likes that idea, but now is a great time to start having shorter showers. 'Build that into your routine that they're shorter while the weather is warmer. Because I think when winter hits, the inclination is for people to just sit in the shower and warm up that way, which can be very expensive.' If you're starting to struggle, Tindall says to contact your retailer straight away. The law requires retailers to help. Check the different concessions each state offers for bills, especially if you have a pension or healthcare card. 'I would strongly recommend calling the national debt helpline,' Tindal says. 'The number is 1800 007 007, they can put you in touch with a free financial counsellor who can look through your finances and help you make a plan.'
Yahoo
12-03-2025
- Business
- Yahoo
Last of $300 cash boost to hit Aussies accounts from April 1: 'Winding down'
The final round of the government's $300 electricity rebate will hit accounts from April 1. While many Australians are hoping the rebate will be extended, there are still ways Aussies can score themselves a cash boost without waiting on the government. The majority of Aussie households will receive their final $75 payment in the coming weeks. Western Australian households and those on embedded networks would have already received the full rebate. New research from Canstar Blue found 54 per cent of Aussies weren't prepared for the increase to their energy bills once the federal rebate finishes. Benchmark electricity prices could rise in the coming months, with the Australian Energy Regulator due to release its draft default prices tomorrow. RELATED Insurance, energy bill hack to combat 58 per cent price hike: 'Save big time' $6,500 Centrelink payment opens today for those impacted by ex-Tropical Cyclone Alfred Surprise winner after Woolworths and Aldi comparison grocery shop: 'More expensive' Canstar data and insights director Sally Tindall said the temporary rebate had helped keep a lid on bills since mid last year but the clock was now 'winding down'. 'The last round of the federal government's rebate is set to land in most people's electricity accounts from the start of next month,' she said. 'After this, it's back to reality unless the government chooses to extend this relief. The concern is, millions of households will be unprepared for this financial sting when it hits.'Canstar Blue found more than 80 per cent of Aussies wanted the federal energy rebate extended, including 34 per cent who wanted it to continue but with a means test applied. Electricity costs have dropped since the start of the rebates, falling by 9.9 per cent in the December quarter and 25.2 per cent year on year. Without the rebates, the Australian Bureau of Statistics found prices would have increased by 0.2 per cent in the quarter. Switching electricity providers can be an easy way to 'inject relief' into your budget, Tindall said. Canstar Blue found a Sydney-based household could save up to $386 a year by switching from the average-priced plan to one of the cheapest, while a typical household in Melbourne or Brisbane could save $319 and $445 respectively. 'But don't stop there. Put your gas, your internet, even your phone plan under the microscope to see where you can cut costs,' Tindall said. 'Tally up your monthly savings and put that extra cash in a safe, warm place, ready for when the reality of your real electricity bill bites.' Companies are required to let you know on your bill if a cheaper plan is available. They have to do this every three to four months. You can compare electricity rates on government comparison sites Energy Made Easy and Victorian Energy Compare for Victorian households. You can also call up your existing retailer and ask for a better in to access your portfolio
