The rise of energy bills over the last 10 years

The rise of energy bills has caused an incredible strain on thousands of Australian households. Enormous rate increases by energy retailers have resulted in thousands of households facing power disconnections because of unpaid bills. Over two million Australian households have found the solution.

The rise of energy charges

One of the biggest concerns for families across Australia is the bill shock they may receive when their energy statement arrives. This is not unprecedented – “since 2008 power prices have risen 117 per cent …”

Source: ABC News, July 2018, Chart of the day: Something has gone terribly wrong with electricity prices.

 

… by 2029, Australian households could be paying in excess of $1,000 more than they do today for energy.

How much will energy be in the next ten years?

The 117 per cent increase in energy over the last ten years has many Australian households ultimately guessing what their energy bills will look like in the near-future.

The closure of power stations such as Hazelwood and Liddell are one of the contributing factors as to why the price of energy has risen so dramatically in the last ten years.

If the price of energy for households continues to rise at the same rate that it has since 2008, by 2029, Australian households could be paying in excess of $1,000 more than they do today for energy. 

Energy has become unaffordable and expensive

Using energy is a basic household necessity, however the burden of high energy bills can effectively alter basic standard of living.

More are rugging up in winter with blankets to avoid turning on their heating. Even during summer, many avoid using fans or air conditioners despite extreme temperatures.

Schools and businesses have also felt the pinch with high energy bills, increasingly having to pass these added costs onto customers and families in order to afford their energy bills.

With energy being so expensive, struggling households continually deal with the threat of disconnection due to unpaid energy bills. In Victoria alone, every week, more than 1,000 households are disconnected from basic utilities such as energy and gas due to unpaid bills. [i]

The solution?

Many households are now installing solar panels at their property to offset the increasing energy prices. Over two million households nationwide have solar and are enjoying the freedom of creating their own energy.

Thanks to the introduction of government rebates and subsidies, eligible households could receive up to half of their initial solar installation costs back, making solar an economically viable solution for many homes. These incentives coupled with the advancements in solar technology, make now the perfect time to start your solar journey.

Sunbank Solar are the team you can trust to give you the information you need to know how solar will help you combat your rising energy bills. Our bill analysis helps us to determine what system best fits your energy usage and how much savings you can expect to receive from installing solar.

[i] Herald Sun, Energy disconnections, hardship customers rise in Victoria, 26 February 2019