Every Australian bill payer knows the rules in the energy sector – electricity and gas companies increase their prices year after year, and all we as the consumers can do to ease the pain is shop around from time to time and switch to the energy provider that raised their prices less than the others.
But things are changing in a big way, and you won’t necessarily hear about it from your energy supplier. What they don’t want their customers to know, is that thanks to lower gas prices and the introduction of new sources of energy generation, electricity and gas prices are now at the lowest they have been in the last 5 years*, with some Energy retailers lowering their price by as much as 10%! *
We know it may sound too good to be true, but the reality is that new energy supply entering the market, such as wind and solar, making downward pressure on the cost of producing electricity. In addition to that, the decrease in gas prices is flowing through into the wholesale energy costs and the end result is simple – lower energy prices to the end consumers.
Will I get the new price when my contract expires?
Well, most likely you won’t. Usually, when those contracts expire, your provider don’t necessarily give you the new price. Instead, you get rolled onto a default offer or some other offer.
When you start to see prices falling, the retailers don’t quickly come back to you and say ‘here’s all these savings you can now have’. In the end of the day, it’s business for them in the same way it is for you. They try to squeeze as much money as they can, while we as consumers must compare from time to time and see if we can get a better offer in the market. Because the prices have gone down, there is a good opportunity for everyday Aussies to save on their energy bill if they only compare their current plan vs the rest of the market.
What is the best way to compare energy prices?
There was a time when you’d have to call every electricity & gas provider in the country to compare rates and find out who offered the best plan for your personal needs.
But no more – billysumo.com.au can compare plans countrywide quickly, and for free. Just enter a couple of basic details and access exactly what’s available to you. You could save hundreds – not bad for clicking a mouse or tapping the screen, right?