How The Government Plans To Slash Your Electricity Bill

by | Oct 19, 2020 | Energy Feature

It’s hard to keep track of all the news about the Federal Budget. Some’s fascinating, some’s a snore.  But there’s one item that means big change for Aussie homes and businesses. Millions of dollars are being spent to unlock five key gas reserves in QLD and NT. This may not sound like big news, but it is! In fact, it should seriously reduce both gas & electricity prices. With the ACCC highlighting how unaffordable electricity has become in Australia, that’s welcome news!

So, how does gas come into it?

Good question! The PM’s office explains natural gas complements renewable energy. Its job is basically “keeping the lights on when the sun isn’t shining and the wind isn’t blowing”. They reckon these changes will make electricity more affordable for families & businesses, while creating 4000+ jobs. That means a stronger economy, which is something we can all get behind; it also means that gas prices will be more affordable.

PM Morrison’s plan for Australia’s energy future “is squarely focused on bringing down prices, keeping the lights on and reducing our emissions and these interconnectors bring us a step closer to that reality.”

According to the Energy Minister, the 2020 Budget will help lock in lower energy prices and improve energy efficiency.

Exciting times for electricity prices

Yep, it’s a great time to be an Aussie billpayer. Wholesale electricity prices are also falling; they’ve reduced by up to 46% in the last year. You might not think this affects you, right? You’re not a wholesaler. But when wholesale electricity prices drop, it costs less for retailers to supply energy. Now, if you’re a bit cynical about business, you might think that this won’t trickle down to the customer. But the Government is taking a “big stick” approach in prohibiting energy market misconduct; so, between this and the focus on unlocking key gas reserves, you should be seeing your electricity bill drop.

The national electricity market is changing. Are you?

The ACCC called the electricity market “unaffordable and unsustainable” only a couple of short years ago. But the market is already changing, and reductions are starting to flow through to consumers. The Government is keeping pressure on energy companies, but not all companies are fast to change. Is your energy provider pocketing the difference? Have you compared energy providers?

If your bill is unaffordable, it’s time to start asking questions. Sure, we get that energy prices aren’t a fun conversation. You’ve probably been with the same energy provider for a long time. Last time you changed, you probably had to make a few calls; ask lots of questions; spend time on hold. Urgh. Almost no-one likes thinking about energy providers – booooring!

Fortunately for Australian homes and businesses, the folks at Econnex love to think about comparing energy providers. In fact, they live and breathe electricity prices. What’s better, they know your time is valuable. So they’ve devised a handy tool allowing you to compare energy providers in a few minutes, and get dollar-value quotes.

Econnex believes that here in the fair-go country, we deserve fair energy prices. They’ve done the hard yards comparing energy prices for you, so you can spend time and money on what matters.

Comparing energy providers, pronto!

It’s simpler than you’d think. Just fill in a quick online form to compare Energy Prices, Rates & Tariffs across a panel of TOP retailers: EnergyAustralia, AGL, Origin Energy, Alinta Energy, Powershop and much more. It’s a 100% free service, with no obligation to sign up for anything. If you see a deal you like, just pick it, and Econnex will do the rest. No calls, no fuss, no worries! Just a better deal on your electricity bill when you compare electricity with Econnex.

 How does Econnex work?

You’ll start by telling Econnex your postcode, approximate electricity usage for a given period, and your connection date. You can then choose your preferred tariff type – single rate, time-of-use rates or controlled load rates (depending on location). They’ll provide you with various dollar-value options (no weird, confusing Star systems – phew!). Electricity plans aren’t one-size-fits-all, so when you’re deciding, remember to look at things like:

  • Tariffs
  • Billing periods – monthly, quarterly, or bi-monthly?
  • Fees and charges
  • Pay on time discounts or benefits
  • Standard or market contracts

Look properly at the whole plan before you make your mind up. If you aren’t the most technical person in the world, don’t worry! They have plenty of help in the system to guide you through. Once you’ve chosen your new plan, they’ll begin the transfer process for you. Electricity bill #bestlife, sorted!

Ready to compare energy price and save? Econnex is ready to help everyday Aussies get a better deal on their gas & electricity bills. Check it out!

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