{"id":75996,"date":"2023-06-19T13:24:21","date_gmt":"2023-06-19T02:54:21","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=75996"},"modified":"2023-06-20T12:04:40","modified_gmt":"2023-06-20T01:34:40","slug":"energy-australias-prices-rise","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/energy-australias-prices-rise\/","title":{"rendered":"More Customers Take the Hit: EnergyAustralia\u2019s Prices to Rise"},"content":{"rendered":"

\"calculator,<\/p>\n

EnergyAustralia has announced its 2023 Default Market Offer (DMO), Victorian Default Offer (VDO) and Variable Market contract price increases.<\/p>\n

For those not versed in the Australian energy market, here’s a quick explainer of those acronyms:<\/p>\n

    \n
  1. Default Market Offer (DMO):<\/strong> This is a safety net for New South Wales, South Australia, and Southeast Queensland customers. It’s a basic energy plan with a price cap set by the Australian Government to stop energy companies from charging too much.<\/li>\n
  2. Victorian Default Offer (VDO):<\/strong> This is the same as the DMO, but it’s just for folks in Victoria. It’s another basic energy plan with a set maximum price, decided by the Victorian Government.<\/li>\n
  3. Variable Market Contracts:<\/strong> These plans don’t have a price cap. Energy companies can change the prices whenever they like, but they must give you 10 days’ notice. They might have special discounts or rewards, but you must shop for the best deal.<\/li>\n<\/ol>\n

    In a nutshell, DMO and VDO are like safety nets, while Variable Market Contracts might be cheaper or more expensive, depending on the offer.<\/p>\n

    EA blames wholesale prices<\/h2>\n

    Energy Australia attributes the increases<\/a> to \u201csustained increases in the cost of wholesale electricity\u201d.<\/p>\n

    For its most vulnerable customers, the provider runs the EnergyAssist program.<\/p>\n

    EnergyAustralia chief customer officer Mark Brownfield said the company expects EnergyAssist to cost around $30 million supporting customers \u201cexperiencing financial hardship with their energy costs\u201d, which is 16% up on last year.<\/p>\n

    \u201cThis support covers payment plans, staying-connected guarantees, debt relief and, for small businesses, cashflow assistance is available. Through EnergyAssist, we also work with customers to ensure they are on the most affordable plan for their circumstances and provide over the phone energy efficiency advice.\u201d<\/p><\/blockquote>\n

    Default Market Offers<\/h2>\n

    Residential<\/h3>\n
    \n\n\n\n\n\n\n\n
    State<\/b><\/th>\nIncrease<\/b><\/th>\nAnnual Average<\/b><\/th>\nDate<\/b><\/th>\n<\/tr>\n
    NSW<\/td>\n20.5%<\/td>\n$338<\/td>\n1 July<\/td>\n<\/tr>\n
    Victoria<\/td>\n23.6%<\/td>\n$324<\/td>\n1 July<\/td>\n<\/tr>\n
    SA<\/td>\n23.2%<\/td>\n$435<\/td>\n1 July<\/td>\n<\/tr>\n
    SE Qld<\/td>\n20.3%<\/td>\n$286<\/td>\n1 August<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    Small Business<\/h3>\n
    \n\n\n\n\n\n\n\n
    State<\/b><\/th>\nIncrease<\/b><\/th>\nAnnual Average<\/b><\/th>\nDate<\/b><\/th>\n<\/tr>\n
    NSW<\/td>\n18.5%<\/td>\n$815<\/td>\n1 July<\/td>\n<\/tr>\n
    Victoria<\/td>\n22.3%<\/td>\n$551<\/td>\n1 July<\/td>\n<\/tr>\n
    SA<\/td>\n26.5%<\/td>\n$1,653<\/td>\n1 July<\/td>\n<\/tr>\n
    SE Qld<\/td>\n21.4%<\/td>\n$1,283<\/td>\n1 August<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

     <\/p>\n

    Variable Market Contracts<\/h2>\n

    Residential<\/h3>\n
    \n\n\n\n\n\n\n\n
    State<\/b><\/th>\nIncrease<\/b><\/th>\nAnnual Average<\/b><\/th>\nDate<\/b><\/th>\n<\/tr>\n
    NSW<\/td>\n14.9%<\/td>\n$368<\/td>\n1 August<\/td>\n<\/tr>\n
    Victoria<\/td>\n25.9%<\/td>\n$482<\/td>\n1 August<\/td>\n<\/tr>\n
    SA<\/td>\n17.2%<\/td>\n$435<\/td>\n1 September<\/td>\n<\/tr>\n
    SE Qld<\/td>\n11.8%<\/td>\n$286<\/td>\n1 September<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    Small Business<\/h3>\n
    \n\n\n\n\n\n\n\n
    State<\/b><\/th>\nIncrease<\/b><\/th>\nAnnual Average<\/b><\/th>\nDate<\/b><\/th>\n<\/tr>\n
    NSW<\/td>\n12.8%<\/td>\n$855<\/td>\n1 August<\/td>\n<\/tr>\n
    Victoria<\/td>\n25.8%<\/td>\n$1,296<\/td>\n1 August<\/td>\n<\/tr>\n
    SA<\/td>\n12.8%<\/td>\n$577<\/td>\n1 September<\/td>\n<\/tr>\n
    SE Qld<\/td>\n9.7%<\/td>\n$780<\/td>\n1 September<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

     <\/p>\n

    Brownfield said:<\/p>\n

    \u201cToday\u2019s changes reflect higher prices for wholesale electricity and gas due to energy market volatility in 2022. The changes to the Default Market Offer and Victorian Default Offer electricity prices reflect recent determinations by the Australian Energy Regulator and the Essential Services Commission of Victoria.\u201d<\/p>\n

     <\/p>\n

    \u201cWe are \u2026 continuing to work with government and coal and gas suppliers to ensure the government\u2019s market interventions announced late in 2022 deliver price increases which are less than they would have been without those interventions.\u201d<\/p><\/blockquote>\n

    Tips for dealing with increasing grid electricity prices:<\/h2>\n