Electricity Prices By State
Post on June 16th, 2015
Electricity prices by state are dramatically increasing throughout Australia, no question about it. As a savvy consumer, it literally pays to research electricity prices by state to find cheaper rates available near you.
But where should you begin? First off, when you use an accurate electricity comparison service like ElectricityWizard, you could save up to 20% on your power bills in just 4 minutes. ElectricityWizard does all of the hard work for you by comparing apples to apples to help you quickly find lower rates on your next power bill.
To find cheaper electricity rates today, simply call 1300 763 708 or fill in the form below to get started on your savings.
How Electricity Prices by State Are Calculated
If you are looking for cheaper electricity prices by state, it’s firstly important to understand how electricity costs are calculated. According to the Queensland Government, electricity prices are made up of four different factors:
- Cost of generation. This is the cost necessary to generate electricity at the power station.
- Cost of transmission. This cost covers the building and maintenance of the extensive electricity power line infrastructure in each state.
- Cost of distribution. This cost is necessary to fund the building and maintenance of the vast network of poles and wires that provide electricity to businesses and homes in each state.
- Cost of retail. This cost is necessary to connect and bill customers for their quarterly electricity usage, as well as to manage individual customer accounts.
For customers in each state, half of the cost paid for electricity each quarter is for network costs to fund transmission and distribution. The cost to fund electricity generation is significantly less. These factors together make up 91% of the prices that you see on your electricity bill; electricity retail costs only account for 9% of total electricity charges.
If you want to save hundreds on your annual energy bills, it’s time to do your homework. When you use an electricity comparison service like ElectricityWizard, you can compare leading electricity retailers near you to find cheaper rates available in just a few minutes.
Although there is little that can be done to reduce the price of electricity based on the factors listed above, you do have complete control over the electricity retailer that you choose to work with. Thanks to retail competition in the majority of states, electricity retailers are now providing more affordable rates to customers to gain their business.
Take advantage of cheaper rates today by consulting ElectricityWizard now!
Get a Better Deal on Your Electricity Bills
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 the right plan for you to 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?
Try us today! Call Electricity Wizard now on 1300 359 779 or fill out your details below to have one of our comparison specialists help you get a better deal on your energy bills starting today!