The Age reported that this week “people all over the world are setting themselves up for failure. They will make promises that history shows most won’t be able to keep. Yes, it’s the humble New Year’s resolution.”
The most popular resolutions relate to Diet, Alcohol, Fitness and Money.
The Energy Companies have their own Resolutions
While we may add weight, drink too much and our fitness binge may be short-lived, the Energy Companies are working hard to undermine our Money saving plans by increasing energy prices
Energy Prices Increase
If you read our earlier blog, you will know that the Energy Regulator in Victoria approved increasing the Victorian Default Offer for electricity by 8% or on average $110 per year for homes, taking effect in January 2020 as reported by The Age on November 26th. Other States also have increased energy prices.
Well, ho hum. 8% maybe I can survive that? But it’s not so simple. The Age also reported on December 24 that the Acting Energy Services Commission Chairman Sitesh Bhojani said some suppliers may be “taking advantage of the 7.8 per cent increase to justify their decisions to raise prices much higher.” But I’m guessing that this report was lost in the haze of Christmas cheer and festivities.
Many in the industry are recommending that customers shop around to get the best electricity prices on offer by over 30 providers in Victoria.
If you haven’t looked at your electricity bill lately or switched your electricity supplier recently, you could be in line for around $200 to $300 savings per year. For Business the savings can be even greater, with savings of $1000 to $1600 a year on electricity alone.
Don’t forget Gas Prices
The hype around prices has centred on electricity. The Government has focused on electricity. Meanwhile, the Energy Suppliers have quietly increased gas prices for homes and small businesses while no-one noticed. While savings on gas were commonly about half those available on electricity, now they are often similar.
Save money in the New Year
We at Energy Umpire can make your New Year’s resolution come true, well, partly anyway. You can save money on energy and we take the pain out of it for you. We independently compare every Supplier and every plan.
Get the best electricity and gas prices and make sure you stay on the cheapest energy prices all year, even when prices change. Just click compare now and provide us your latest bill information, and we’ll take care of the rest. Savings of $400-500 should be coming your way.