LOYALTY DOES NOT PAY FOR NEW SOUTH WALES ENERGY CUSTOMERS
Announcement posted by Energy Bill Doctor 01 Jul 2016
LOYALTY DOES NOT PAY FOR NEW SOUTH WALES ENERGY CUSTOMERS
· Sydneysiders hit hardest
· Biggest price hike for 2 years
· $350 million stripped from household incomes
· New South Wales today (1st July) has seen the biggest electricity price increases for 2 years.
The two major incumbents, Energy Australia and Origin Energy, have increased electricity prices to their incumbent base by up to 9.6%, with an average 8.5% increase.
Predicted impact on the near 3 million households in NSW are additional bill costs of over $350 million on household bills.
Sydneysiders have been hit the hardest.
Loyal Energy Australia customers have seen a ‘loyalty penalty’, with overall costs 1.7% or $25 higher than those Energy Australia customers on a ‘Market’ or 'Discounted' contract. On average a 9.6% increase, adding $130 a year to a typical household bill (based on a peak only anytime household, spending pre July 1 around $1350)
For customers with Origin Energy in Sydney and surrounds, they will see a price increase of around 13.8%, adding $186.
Energy Bill Doctor's, Director and Energy Expert Tim Wolfenden says: "Loyal energy customers should be shocked and dismayed by the price increases today. $350 million is an unaffordable increase, and is going to push already struggling household over the edge.
The energy market is very competitive with over 20 retailers, but with close to 95% of NSW households being with one of the traditional incumbents, it shows that the idea of competition has not sunk in. Hopefully it does today, with loyal Energy Australia customers seeing a 9.6% increase. Customers need to start voting with their feet and pick a retailer who’s going to value and reward their loyalty.”
Contact:
Tim Wolfenden, Director, Energy Bill Doctor
www.energybilldoctor.com.au
0430 641 786