Energy customers can breathe a collective sigh of relief – there’s a light at the end of the tunnel! Although the energy marketplace in Australia is experiencing significant changes that have caused electricity rates to rise dramatically, customers in states with full retail competition may have the opportunity to potentially save big by comparing power retailers in their area.
When you contact ElectricityWizard directly, you can compare and make the switch in a matter of minutes to possibly reduce annual power bills substantially.
To compare and save, call us directly at 1300 359 779 or fill out the form below for more information. One of our friendly customer service representatives will help you to compare apples to apples to locate potentially more affordable energy rates available in your area. Compare and switch today!
Rising Power Prices in Australia: How the Energy Market Works
In order to take advantage of more affordable power rates in your area, it helps to understand exactly how the energy marketplace works in Australia. In Australia, energy is most often generated by coal fuel, more so than any other developing country in the world, excluding Greece and Denmark.
While electricity in Australia has historically been inexpensive compared to other world standards, rates are rapidly increasing, especially after the introduction of the federal carbon price in 2012. Some states have begun to use natural gas for electricity to conserve costs, such as South Australia and Western Australia.
Yet after a number of years of little investment in the electricity market, electricity distributors are facing significant challenges in the need to build more generators with higher capacity to keep up with booming demand.
Yes, it’s true – Australia’s electricity consumption has grown at nearly twice the rate of overall energy use. Electricity generation in the nation makes up just 44% of Australia’s primary energy use.
Depending upon the state, the ability of electricity generators to meet customer supply demand can be difficult at best. Energy demand can vary greatly from state to state, ranging from 5800-15,000 MWh in New South Wales to 3900-10,000 MWh in Victoria.
As electricity distributors face pressure to improve infrastructures to support energy demand throughout Australia, they are forced to increase prices to compensate. As a result, average energy customers are paying more and more each year for basic utilities, making power prices virtually unaffordable for many households.
The good news is that energy customers in states with full retail competition have the opportunity to compare electricity retailers to make the switch in a matter of minutes. You can start out with a quick, easy electricity comparison to compare an assortment of available power prices from our large network of preferred suppliers, do so and you too could reduce utilities cost by a small fortune each year!
Help Me Get a Better Deal!
At Electricity Wizard, we do all the hard work for you. When you call us, we’ll compare your rates and plans against our preferred suppliers available in your area and help you select a great plan for you. we are here to help you cut down costs and meet any other criteria you may have. Best of all, our service is completely free – so what do you have to lose?