Thrity trick to saving $600 on your power bill

A typical Victorian household could save about $300 to $600 a year on their combined electricity and gas bills thanks to this thrifty trick.

A typical Victorian household could save about $300 to $600 a year on their combined electricity and gas bills by shopping around, according to the latest Tariff-Tracking report from the St Vincent de Paul Society.

“Over the past year, we have seen electricity prices increase between zero and up to 8 per cent, depending on where you live, but some market offers have been more than 20 per cent,” St Vincent’s energy expert Gavin Dufty said.

“For gas, prices have risen between zero and up to 16 per cent, depending upon which retailer and area you’re in.”

The new Victorian Default Offer (VDO) that took effect in July has increased the forward-looking average annual electricity bill by another $40 or 2 per cent, but standing offers for gas have risen 7 per cent over the year at AGL and up to 16 per cent at Origin.

The analysis, conducted by Alviss Consulting, found the difference between the best and the worst electricity market offers ranged from $700 to $945 per annum.

Crunching numbers and shopping around could save you hundreds.

“AGL and Energy Australia’s electricity market offers produce the lowest annual bill for

average consumption households in Citipower, Powercor, Jemena and United Energy,” the report says.

“Circular Energy has the lowest bill in the Ausnet network. GloBird, on the other hand, has

the most expensive market offer in all network areas.”

While there was a big difference in market offers for electricity, the disparity was cavernous across gas providers.

For larger, four-bedroom homes with central gas heating and appliances, Mr Dufty said switching from a worst-rate deal to a best could potentially save more than $2300 per year.

The report says: “Sumo Power’s gas market offer produces the lowest annual bill for average consumption households in seven out of eight pricing zones. Simply Energy, on the other hand, has the most expensive market offer in all gas zones.”

For tens of thousands of Victorian households, location was also a telling factor in bill stress.

“The total energy costs (based on the average electricity and gas market offers) have

increased the most for households in the eastern and south-eastern suburbs.

“Dual-fuel customers in the CBD, inner city and north eastern suburbs, on the other hand, have had the lowest increase to their combined energy costs.”

Mr Dufty said another $250 can be used to reduce bills by comparing energy options on the Victorian government website compare.energy.vic.gov.au and a further 17.5 per cent off for people on a pension and with healthcare cards.

Originally published as Thrity trick to saving $600 on your power bill