Gas Prices Set to Climb from 1st August: How It Affects You

The oncoming of August has, unfortunately, brought no relief to Aussies already struggling to cope with rising electricity bills. Adding fuel to the fire, many leading retailers have confirmed that gas prices too are set to climb up from August 1 for the residents of NSW, SA, ACT, QLD, and VIC. The increase may affect both the market offer and standard offer customers. 

What do the Stats suggest? 

Going by our research, the rise in gas prices is expected to be more than $100 for the year. Some of the major retailers have announced their gas price hike percentages in different states for customers on market as well as standing offers. 

The statistics have it that the residents of New South Wales and Victoria are at the forefront of facing the blow. 

This paints a questioning picture of the growing stress that the consistently rising energy prices are placing on the customers. As per research, energy bills were one of the most stressful expenses for about a quarter of Aussies back in June. 

Factors responsible for the gas price hike 

The leading providers have held the network and operating costs responsible for the hike in gas prices across Australia.  

Moreover, retailers often update their distribution charges around this time of year. So, that explains why energy prices are rapidly rising right now.  

The change in gas prices can vary contingent on many factors including provider, gas contract with the generator, and location of the customer. 

What can you do to soften the blow? 

The energy price rise crisis in Australia is real and finding ways to soften the blow is the only way out. Here is how: 

1. We cannot stress enough on the importance of shopping around to compare energy plans (typically every 6-12 months) so as to keep the possibility of finding a better plan open. For starters, make it a point to stay on market offer contract (in place of a standing offer one) since it typically tends to be more competitive. For that, you’ll have to consciously choose a plan at least once a year.  
2. In these trying times, the government also offers financial aid to struggling customers in the form of rebates. It will be providing an energy rebate of $300 to all the households this month onwards. 
3. It’s important to keep the heating costs in check during winters. A few tips suggested by experts include sticking to heating the room that is most in use, keeping the doors shut, and better insulation of home through DIYs.  
4. Don’t underestimate the power of negotiation. In case you find a cheaper deal, you can always contact your retailer to see if they’re open to countering it with a better deal. 

Switch and save with Econnex 

Long story short, making conscious efforts to compare and save on energy plans wherever and whenever you can is the best way to mellow the blow of rising gas prices. That is where Econnex can help. It does all the hard work on your behalf by comparing energy plans of some of the leading retailers in Australia in an unbiased, transparent manner. You can weigh your options all you want and close the deal on the plan that fits your budget (and helps you save considerably more).