Following the announcement from Victoria’s Essential Services Commission, the average annual energy bill for households and small businesses is set to increase by 5 percent from 1 July 2022.
The reason for the increase has been attributed to changing market conditions. General inflation is a major player however there have also been major increases in wholesale electricity costs as a result of surges in coal and gas prices.
Many companies have announced they will be shutting down about 20 percent of coal capacity by 2030.
Fossil fuels in general are undergoing unplanned outages.
With 1-in-10 households already considering leaving gas altogether according to a survey by ECA, the rise in electricity prices will certainly have consumers looking for cheaper alternatives.
Renewable energy is the future. Solar panels provide a viable option for many Victorians looking to reduce their energy bills, now and into the future. Generous solar panel rebates and solar battery rebates are also on offer to make the switch possible for both homeowners and small businesses.
Millions of households and businesses have already invested in solar panel installations and reaping great benefits for their energy bills.
Are you interested in getting solar for your home or business? Enquire today and speak to one of our renewable energy consultants.