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News.com.au
13-06-2025
- Business
- News.com.au
Households are being warned their electricity prices are set to spike
Cash-strapped Aussies are being warned the 'cold hard truth' is electricity prices are on the rise this winter in the latest cost-of-living blow. After the Australian Energy Regulator made its final determination for the Default Market Offering back in May, millions of households will now be getting letters or emails about their new energy rates. The offer sets the maximum price caps for bill increases for customers paying for default plans. These prices are meant to protect Australian households who don't shop around as well as provide a consistent benchmark so people can find an alternative retailer. Canstar's analysis shows Sydney electricity prices are going up 8.6 per cent, meaning the average family will now pay $145 more for their power or $1830 a year. Melbourne energy prices spiked 6.2 per cent or $83 for the average household, setting families back $1421, while Brisbane prices are up 3.7 per cent or an average of $72, with the standard household now paying $2019 per year. Canberrans will get the nastiest shock with their electricity prices going up 8.5 per cent and the average household now paying a further $191 to $2436 a year, while Adelaide households will pay on average $70 more a year or $2247 in total. These figures exclude the federal government's $75 subsidy. Under the extension of the Government Energy Bill Relief Fund, every household will get two payments of $75 a quarter automatically applied to their energy bills. Canstar data insights director Sally Tindall said while it was never fun to read about price hikes, Aussies should 'grit their teeth' and see if they could find a better deal. 'The cold hard truth is that electricity price hikes are pretty much inevitable in states such as NSW, Queensland and South Australia this winter after the regulator approved hikes to the reference prices across all networks in these states,' Ms Tindall said. 'The exact costs for your daily supply charge and electricity rates are up to each provider; however, unless you're on an embedded network or in a state where there are limited options, this is one bill you can, and should, take control of.' Ms Tindall urges households to check the 'reference price' they receive in the next two weeks and compare it with other market offers. 'Electricity bills can often be ridiculously confusing, with daily supply charges, tiered electricity rates, time of day pricing and whether you've got a controlled load,' she said. 'However, if you just want to compare your options without getting into the weeds, the reference price is your friend.'
Yahoo
17-04-2025
- Business
- Yahoo
New hipages energy service to save Aussies $250 a year by automatically switching plans
Finder's utilities expert Mariam Gabaji said better energy offers can be found on the first page of your bill, but a new system is set to do all the hard work for you. (Source: Finder/Supplied/Getty) There's a new system to help keep your electricity bill as low as possible and it's set to save the average Australian $250 a year. Hipages energy will automatically roll you onto a new plan if a cheaper one becomes available. Some Aussies might not have noticed the small note on their energy bills that now legally has to advise you every 90 days if there's a cheaper plan available. Finder utilities expert Mariam Gabaji told Yahoo Finance that "many people miss it" even though it's on the first page of your invoice. Despite facing another energy bill price rise of up to $300, Australians simply can't be bothered to make the change, paying a collectively $1.1 billion in electricity loyalty tax. The hipages energy system is set to change that. RELATED How does it work? The hipages energy setup uses Australia's Open Energy initiative to do all the heavy lifting for you. The Open Energy initiative is managed by the consumer watchdog and allows you to access and share your energy data. The data is collected by your electricity smart meter and it's meant to give you more "choice, control, and convenience" when managing your energy usage. It also helps you find the best retail price deals as this data provides a much more accurate snapshot of your usage. Do you have a story? Email 'We know that all Australians have been hit hard with skyrocketing prices, and the cost of energy is causing particular strain," hipages Group CEO Roby Sharon-Zipser told Yahoo Finance. The system harnesses this platform to chuck you onto a similar but cheaper deal if and when it becomes available. "While the extension of the Federal Government's Energy Bill Relief Fund will help, it's unfortunately a temporary solution," Sharon-Zipser added. 'For homeowners and renters, hipages energy ensures residents always have a competitive electricity deal by automatically switching their plan.' The company estimated this first-of-its-kind initiative will shave off 20 per cent off your energy bill within the first year. They're so confident in that belief, that if your bill is $5,000 or less and you don't get that much in savings, you'll get a $1,000 gift card. 'We hope that by expanding our offerings available to homeowners and business owners, we can make building and maintaining homes and businesses easier," Sharon-Zipser said.
