What does the governments energy plan mean for your power bill?
Late last year the Australian Government announced a plan to tackle soaring power prices, but what does this mean for you?
Up to $510 in electricity relief has been announced, with average households expecting to save around $230 on power bills due to new caps on wholesale gas and coal prices. Concession card holders and lower-income households receiving state government payments can also expect additional relief up to $280 starting in April 2023.
Although there is no guarantee that power prices won’t rise this year, these new measures aim to prevent costs from increasing by the full 30% that was previously predicted. Now is a good time to ensure you are on a cheap plan and register for government concessions you are eligible to access.
For more information about the various concessions provided by the state governments and the eligibility requirements needed, please visit Energy Australia.
The price of gas this year is expected to increase by another 16-38%, so now is the perfect time to separate your gas from your electricity bill. Weight up your options and go with a different provider if you can find a cheaper deal.
If your current provider has hiked your rates, keep an eye out for what else is available and see if they have a cheaper deal available than what you’re on.