The coming financial year will see more increases in the cost of power, according to the latest report by the Australian Energy Market Commission. In their Price Trends Report, they’ve predicted a rise of 14 percent on national household electricity bills.
This will probably come as no surprise to any Australian householder: electricity bills have risen by 50 per cent in real terms over the last five years.
While the carbon tax and other environmental initiatives have certainly had an effect on electricity prices, the AEMC report says their impact is set to wane. The majority of the anticipated price increases will instead be driven by network costs.
Shopping around for the best deal is important but as always, the most reliable way to cut costs is by reducing your energy consumption. You can see our previous energy-saving tips here. Or to find out how much money LED lights could save you, check out our handy retrofit calculator.