Once a year a reconfiguration of electricity network prices (i.e. poles and wires) occurs in New South Wales and at this time, retailers (that’s us) then adjust prices to reflect the changes.
Unlike previous years where there’s been an increase across the board, the good news is that this year there’s been both a decrease and increase in various elements. To be more specific, the energy rate component of your bill (the part we charge you for the actual electricity you use) will decrease. However, your daily supply charge (the charge that covers the cost of connection and supplying power regardless of how much you use) will increase.
Some more good news is that for most people, the savings on their usage will outweigh the increase in their daily supply charge. They’ll notice a decrease in their overall electricity bill.
Others will notice a slight increase. The impact will vary, depending on usage and area in which you live. This is due to the tariff re-balancing more fairly reflecting actual costs.
The new prices take effect on 1 August 2015 and to see your new Energy Price Fact Sheet, head here. Check out our FAQs below for some more information around your particular situation.
Why have my prices increased?
Increasing our prices is our least favourite thing to do and we hate having to deliver this news. If your price has gone up, this may be the result of several factors. In most cases you’ll find you’re a lower user which means, on a whole, the reduction in energy rates does not offset the increase in daily supply charge.
However, despite the increase using less energy is one of the best ways to save money, and we encourage you to keep doing so.
However, if you’re not a low user, then it will be a combination of your distribution area and tariff. We’ve tried to mitigate the increase as much as we can, and have set out below a few ways in which you can easily make sure you’re saving the most on your power.
Why have my prices stayed the same?
So it appears you’re pretty much no better but no worse off from this change. This means the changes have virtually offset each other with minimal effect. We still recommend reading on to find out how to save even more.
What about if my prices have decreased?
Great news! But don’t let that stop you from saving even more – check out the methods below.
What can I do to save more?
- Firstly, download our smartphone app on iTunes or Google Play. You’ll be notified any time we have a special, and these only take a few clicks to purchase. Engaging and saving has never been so easy.
- Next up – switch your mates. Make use of our Friend Get Friend offer and if your mate switches to Powershop you both score a $75 account power credit. To do this you either login to your online account and click on one of the big blue banners or head to your mobile app and under ‘Menu’, select ‘Switch your mates’.
- Lastly, but most definitely not least, is to reduce your usage. Utilise tools like our Heat Map and Daily Usage graph to easily monitor and identify ways in which you can use less power. We’ve even just introduced half hourly data to our smartphone app so you have visibility anytime, anywhere. Just click on the Daily Usage icon, and you’ll see a new section underneath that gives a breakdown of your electricity usage throughout the day! It’s never been so easy to hold the kids accountable for leaving the lights on!
What’s happening to GreenPower?
From 1 August 2015, our GreenPower pricing is also increasing from 4.95c/kWh to 6c/kWh. Any customer that has a GreenPower product set as their default pack have had this increase incorporated into the price change estimate in your email. If you want to find out more, head here.