Electricity price reduction advice

Prices may be on there rise but there are things you can do to keep control of your bills.
 
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01.Reduce your bills as electricity prices rise

Higher power bills

Electricity prices are continuing to rise but you can take steps to reduce your bills.

Use the carbon price calculator here to find out how much the carbon price will cost your household, and what sort of savings and financial support you're eligible for.


Price rises

Electricity prices are on the increase around Australia, estimated to rise around 37% between mid-2011 and 2013-2014. In NSW households

are in line for an average 16% increase from 1 July 2012, while Victorians have already had an increase of around 10% and will likely see another hit from the carbon price.


Why are prices increasing?

There are two main factors driving these increases:

• Network costs, the $55 billion dollar price tag of expanding and maintaining the poles and wires that carry electricity from the power generator to our homes. Network costs will contribute about 40% to increases in electricity prices from mid-2011 to 2013-2014, and already make up around 40% of the average household bill.

• The carbon price, which comes into effect from 1 July this year, is set to add around 10% to the average household electricity bill, or around $3.20 per week. Unlike network price rises, the carbon cost is largely a one-off hit, and comes with household compensation.

What can you do to reduce bills?

• Go behind the scenes at our CHOICE labs for expert advice from our testers on appliance energy savings.

• Read our energy switching plan for tips on how to get a better energy deal.

• Use the carbon price calculator (above) for tips on additional savings you can make on energy bills.

What else can be done?

Saving energy at home is part of the solution, but we also need to see reforms to the whole electricity sector to ensure fairer prices. While average household energy use is levelling off, we are continuing to see rising peak demand, and a lot of the spending on our electricity grid is about catering for these increasing peaks.

CHOICE believes that part of the solution is to reform the energy market so that network businesses, the owners of the ever-expanding poles and wires, face more scrutiny in the costs they pass on to consumers and are forced to investigate other options to defer or displace network costs.

CHOICE is also supporting a national Energy Savings Initiative, a scheme that could help unlock greater energy efficiency savings in households and businesses, providing benefits for all consumers.

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