How to prepare for the spring/summer electricity price spike

It is that time of the year again, where we swap out the winter uggs for the summer swimsuits – but it is also the same period that has us fall victim to major spikes in our electricity bills, mostly due to an increase in air conditioner usage.

But with change comes opportunity, so there’s never been a better time to assess your current electricity plan and ensure you’re prepared with the best deal possible.

Power bills are coming down thanks to the Renewable Energy Target

Despite spikes, there will be a fall in 2020

It is essential to regularly check in with your retailer around the finer print, especially as there are some wild fluctuations expected in the latter end of 2020.

Queensland research institute Canstar Blue has compiled the list of providers across Australia, along with forecasts on whether you can expect to pay more or save money this spring and summer.

Starting with Queensland, Origin customers can expect an annual increase of 4.73 per cent if they are on the Max Saver – Online Special, while some Energy Locals and EnergyAustralia plans are also going to result in a hike.

But if you shop around, GloBird Energy will deliver a 10.36 per cent deduction on their GloSave plan while Mojo Power has also dropped their All Day Breakfast plan by 1.07 per cent for the state’s cheapest estimated annual bill of $1,112.

New South Wales customers can expect decreases across the board with Sumo dropping the most at 8.67 per cent while ReAmped Energy will drop 1.3 per cent to deliver the state’s annual lowest average of $1,060.

Simply Energy (4.64 per cent) and AGL’s Essentials Saver plan (6.26 per cent) will deliver price hikes in Victoria. In contrast, most other providers and plans are set to drop, Dodo providing the best deal at an estimated average cost of $1,216 – a drop of 4.25 per cent.

South Australians have been copping much higher prices than the rest of Australia recently, and that will be the case again in 2020. However, many providers have dropped their rates significantly including GloBird Energy’s GloSave plan (11.1 per cent), OVO Energy’s The One Plan (9.68 per cent) and Energy Locals’ Total Plan Home (9.82 per cent).

However, this is a lot of data to get your head around, and finding out if you’re on the best possible plan can be half the challenge. Instead of feeling the burden of discovering the truth behind your current rates, we recommend you opt for an energy health check through our easy online tool. Read on to find out how to jump into this must-have before the warmer seasons hit.

 

Electricity bill relief set to be the calm before the storm

 While the news that energy prices are set to drop this year will come as a relief to many, they come saddled with the warning that they are likely to spike again in 2021.

As reported by Energy Matters, a perfect storm of downward drivers have combined to reduce prices in 2020, but as the economy recovers in 2021, prices are expected to start rising again.

To get ahead of predicted price rises and increases in energy use over the summer months, opt for an Energy Health Check – as previously mentioned – as soon as possible. Best of all, if you successfully transfer to a better plan we will give you a FREE $20 eGift voucher*. Get Snatch up this offer now before it’s too late.

 

*Gift card Terms & Conditions:

 

• If a customer has received or is eligible for any other Gift Card/Voucher promo from Energy Matters in last 90 days, he/she will not be eligible for this offer