It is no surprise that energy costs have dramatically increased over the past few years.
So, what is causing the constant upward pressure on pricing? There are many factors that contribute to the pressure on pricing, but the following are most significant.
Our increasing consumption
As we continue to buy more electrical components and rely on lifestyle comforts, such as air conditioning, we are placing enormous strain on the network infrastructure. Large screen TV’s, coffee machines, computers, modems and the like are all having both a direct and indirect impact on our bills. Our consumption charges are higher because we turn the air conditioning on much more often than we did in the past. Not only do our TV’s consume more power today but we also have them on for much longer each day. While each change in usage is incremental, it is all adding up. Add to that the additional strain the millions of incremental changes place on our ageing networks, and you can appreciate that the wires, poles and substations designed to meet the needs of our parents are just not coping.
Rising electricity costs have been something that has had a negative impact on energy customers facing financial hardship due to COVID-19. Due to this, the Queensland Government have announced a $200 residential rebate applicable to all Queensland residents. Most Queensland residents should have now received their residential rebate. SAS has applied on behalf of our customers and issued in their 30th April billing cycle.
Additional business costs
Just as any other business faces annual increases in their administrative, operational and marketing costs, so do the businesses that supply our electricity. Generators, network operators and retailers are all facing additional costs as they upgrade their metering, billing and marketing systems.
What can you do to minimise the impact of rising electricity prices?
What can we do, as consumers, to minimise the impact of rising electricity prices? As with every other significant cost, the secret is to be aware and change your habits to suit your budget and lifestyle. Make informed choices when purchasing electrical goods. Make smarter choices with heating and cooling and shop around to make sure you are getting the best pricing possible.
Click here for tips on saving money on water bills.
Click here for tips on saving money on heating bills.
For more information and to see how much your scheme could save with an embedded network, click here.