Power shock: NSW families pay highest electricity prices in the world

AUSSIE families are being  slugged  more for power than any other developed ­nation, with more than one million NSW households paying more for electricity.

Check out One Big Switch to help find lower power bills.

MORE than a million NSW households are paying more for electricity than any other developed nation.

New research by a leading economics consultancy reveals these customers, who are on non-discounted prices known as “standing offers” are being slugged about 32 cents per kilowatt hour, compared to shivering Swedes who pay about 14c per kWh and frozen Finns who only have to fork out about 15c per kWh.

Even the three million households on typically better value “market offers” are still paying energy companies over 25c per kWh, far more than Americans (about 17c per kWh), Dutch or Italians (both about 20c per kWh).

And this is before taking into account the new surge in NSW costs on July 1, when widespread price rises of up to 12 per cent kicked in, adding $170 to the average annual bill. There are reports of increases of up to 24 per cent.

The official advocacy body on electricity said the situation was concerning, with power increasingly ­becoming a “significant expense for ordinary families”.

“We’ve got a market where consumers are not seeing value,” Energy Consumers Australia CEO Rosemary Sinclair said.

Are your power bills too high?

She said the ­results of yet-to-be-released surveys by the ECA showed customers had neither confidence in the market nor a sense of control over power costs.

These messages had also come through in a series of town-hall-style meetings around the country.

The international price comparison by Melbourne-based CME was done for One Big Switch, which today launches the Big Energy Switch in a bid to create group-discounted power offers.

“This report confirms what Australian bill payers already suspect: we’re paying top dollar,” said One Big Switch campaign director Joel Gibson.

“Australian governments have failed to control power prices, so it’s time to see what a national People Power campaign can achieve.”

The Big Energy Switch campaign is seeking 40,000 Australian households to help unlock group-discounted energy offers to fight the high cost of power.

CME said it could not compare to some nations such as Canada because its price data was not collected by the International Energy Agency. CME also excluded Slovenia and Estonia for being at “significantly different” from Australia.

Nationally, prices are up 120 per cent over 10 years, One Big Switch’s analysis of ABS figures show.

ECA is not associated with the Big Energy Switch.

* There is no obligation to take up any offer. News Corp Australia and One Big Switch will earn a commission from any accepted deals. News Corp is a shareholder of One Big Switch.

Elysha Ferris, with her 11-month-old daughter Indy, is not happy her gas and electricity bills are rising. Picture: Tim Hunter.

THE BIRTH OF BIGGER BILLS

ELYSHA Ferris, from Avalon Beach, was prepared for extra household expenses after having a baby but didn’t factor in their electricity and gas bills would rise as well.

The 26-year-old noticed that since having Indiana, now 10 months old, they have experienced higher energy bills.

They are hoping One Big Switch can bring it down.

“As a young family it is hard to get the time to call all the providers to get the best deal,” Mrs Ferris said. “(Saving some money on bills) would mean so much for us.”

WHAT IS THE BIG ENERGY SWITCH?

THE Big Energy Switch is a campaign to unlock group-discounted electricity using the buying power of 40,000 households.

How does it work?

Step 1: You register. Registration is obligation-free and cost-free.

Step 2: One Big Switch uses the bargaining power of 40,000 potential switchers to source group discounted electricity offers.

Step 3: One Big Switch forwards to you any offers and you decide if the offer is right for you, and whether or not you want to switch.

Is it really possible to get discounts?

One Big Switch has already helped thousands of Australian families to access discounted electricity, gas and health insurance offers using the power of group switching.

Who is behind the Big Energy Switch?

The campaign is powered by One Big Switch and is supported by News Corp Australia and Channel 7.

What am I getting into?

Joining the Big Energy Switch is obligation-free and cost-free. You are under no obligation to take up any offers. You will simply receive the offers by email and decide for yourself. You will also be notified about other One Big Switch special offers and campaigns.

Does it cost anything to take part?

It is free to join, and free to take part.

Will the Big Energy Switch be the cheapest?

Not necessarily. Any Big Switch campaign is a bold initiative to see if we can source offers that you can’t get as an individual. Some customers are on legacy deals and special deals that are not available cost-free to the general public. Other companies could also be forced to compete with the offers by offering more competitive offers.

How does One Big Switch make its money?

One Big Switch earns a fee only when businesses win customers through our campaigns.

* Find out more information at onebigswitch.com.au