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As a Queensland resident, you might be feeling the pinch in your budget as you wade through exploding electricity prices.
Since 2008, there has been a stunning 100%1 increase in residential electricity prices in Australia.
Ultimately, the massive price increase in an essential service such as power affects average households.
By all accounts, a high electricity bill is often a ‘surprise’ expense for families and businesses, leaving them scrambling to sort their budget.
As energy poverty spreads across thousands of Australian homes, understanding the average bill in Queensland is vital.
Over the long term, looking to compare your latest yearly power bill with our data will alert you if you’re paying more than average.
Have a conversation with our electricity brokers on 1300 232 848 and see how easy it is to switch to a sharper rate in Queensland!
How much does electricity spend set back Queensland residents over a year?
We try to look at the average cost for electricity that a home with four members experiences.
The costs under the “big three” retailers – AGL, EnergyAustralia and Origin Energy are on display.
Most importantly, you may want to take a look at how much you could save by getting switched to an Electricity Monster partner.
For homes with a swimming pool (9308 kWh annually):
For homes without a swimming pool (6672 kWh annually):
*All calculations are accurate as of March 19, 2019
Queensland homes with a pool in the backyard shell out nearly $2400 a year on average for electricity from EnergyAustralia, Origin and AGL.
Moving to an Electricity Monster partner retailer could save you over $100 a year in Queensland, on average!
If you are scratching your head over a massive power bill, reach us on 1300 232 848 or fill out a few details in the form you will see below.
Read More: Why Is My Electricity Bill So High?
It is essential to see what plan your retailer has you on, in Queensland.
The market offers from retailers often have more attractive electricity supply rates, usage tariffs and discounts than a standing offer.
Despite this, however, 48% of all people in Queensland are still stuck on expensive standing offers according to the market watchdog AEMC.
To understand how prices are rising uncontrollably in Queensland, it is vital to look at what is contributing most to high electricity bills.
Network costs, which make up nearly half of an average market offer in Queensland, are an obvious culprit.
With a stunning 70% increase in about a decade, the Australian electricity grid was worth a whopping $72 billion in 2016.
Power distributors have been earning very high returns for spending more on electrical wires and poles.
The splashing of cash came from predictions of exploding electricity demand.
Since 2009, however, Australians have been using lesser power.
Ineffective government policies are to blame for allowing things to get so out of hand and the misery faced by Queensland residents is not set to end.
Transmission network costs in Queensland will rise another 1.4% by 2020, according to the AEMC.
Electricity prices in Queensland are set to fall by 7% by 2020, according to the AEMC.
The anticipated price fall stems from more power supply, as a large gas turbine in Ipswich returns to service.
A recent report from the competition authority ACCC found the Queensland state government could reduce bills by $100 by writing down network assets.
The government, however, chose to ignore the recommendation of the commission.
With no relief in sight, it’s time to take matters into your own hands in Queensland!
Stay ahead of the curve in Queensland and start shopping around for more cost-effective rates!
Electricity Monster is an expert in comparing power retailers and finding a more cost-effective rate for your property!
Have a conversation with our electricity brokers on 1300 232 848 and experience 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 an Electricity Monster partner in QLD. 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:
1 ABC News story dated July 18, 2018 “Chart of the day: Something has gone terribly wrong with electricity prices”