Electricity prices in Australia continue rising at an uncontrollable pace, as this decade comes to a close.
The explosion in prices has been felt by NSW residents as well, trying to control costs and avoid falling into energy poverty.
Stunningly, there has been a doubling in the price of electricity across Australia, over the last decade.
It is the average households in NSW that have been most affected by sharp spikes in electricity costs affecting their modest family budgets.
The last thing a home or business in NSW looks forward to is the electricity bill as they fear the unpredictability.
An unusually large electricity bill can destroy carefully created savings, leaving many Australians in NSW grasping at straws for support.
With enough time, knowing if your power bill is higher than the average NSW resident, you will be alerted to if you need to make any changes soon.
Don’t pay more for electricity than your neighbour in NSW is paying!
Call us on 1300 232 848 and see how our electricity brokers can easily get you on a more cost-effective rate today!
We attempt to answer how much NSW residents are spending on electricity in a year, on average.
Across NSW, millions of residents are trying to keep their neck above the water and stay on top of high electricity bills.
Understanding what the electricity bill of an average NSW home looks like is essential to identify any abnormal usage.
The average bills are a representation of the costs a four-member home faces in NSW.
You may be pleasantly surprised at just how much savings you can generate by switching to one of the Electricity Monster’s partner retailers.
For homes with a swimming pool (10149 kWh annually):
For homes without a swimming pool (6632 kWh annually):
*All figures are including GST. All calculations are accurate as of January 14, 2019
NSW homes with a swimming pool and on an Origin, EnergyAustralia or AGL standing offer, cough up about $3000 a year on average for power.
Making a move to one of Electricity Monster’s partner retailers could save you about $120 a year, on average!
If you are scratching your head over the size of your electricity bill, reach us on 1300 232 848 or fill out a few details in the form you will see below.
Find Here: Understanding Your Power Bill
Found that you are paying too much for electricity? Take a close look at the type of plan you are on now.
Despite market offers usually having cheaper electricity rates and attractive discounts, a lot of people in NSW are stuck on expensive standing offers.
As a matter of fact, nearly a quarter of NSW residents are on standing offers.
It is important to shift our focus in understanding how prices have gone through the roof in NSW.
A major contributor to costs? Network charges for setting up more power lines and poles.
Network costs in NSW make up over half of an average market offer.
The Australian network has seen a 70% increase in its value between 2005 and 2016.
Why would power companies spend so much on the network?
The reason is, pointless government policies guarantee profits for retailers for merely investing more.
Network costs seem to keep on rising with another increase of 2.6% expected by 2020.
Read More: Why Is My Electricity Bill So High?
Electricity prices in NSW will see a 6.6% fall by 2020, according to forecasts from the market authority AEMC.
The price fall in NSW is in line with a nationwide trend of wholesale electricity costs going down.
Wholesale prices of electricity are set to go lower as more power supply hits the market from new power plants coming online.
A June 2018 report from the competition watchdog ACCC says the NSW government should “remedy the over-investment of their network”.
The report also found that such a move could cut the average NSW electricity bill by $100.
With a reduction in prices seemingly nowhere in sight, it is time to find sharper electricity rates.
An easy way to stay ahead of the curve?
Shop around for more reliable retailers with more affordable rates!
Take a few minutes to speak to our electricity brokers on 1300 232 848 and experience the magic of our 100% Free Service!
This publication looks at how much a 4-person household pays a year, on average, on plans from Origin, AGL, EnergyAustralia and Simply Energy in NSW. By all means, no financial decisions should be made based on data from this publication. Individual usage, circumstances and brands could cause usage figures to vary.
Important points to note are:
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