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AGL, Origin electricity prices go up 1 July – but it’s possible to soften the blow

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Major providers announce price hikes of nearly 30% with others to follow suit.

The looming price hike for households is becoming more real as energy retailers start to announce price changes for 1 July 2023 or in some cases, 1 August 2023.

You might have already received an email or letter from your provider informing you of these movements.

You can either deep dive into our roundup of providers changing their prices or jump straight to our tips to save on your energy bills.

Good to know before you read on. Energy providers are changing their prices because the benchmark pricing set by energy regulators is increasing. Read more about 1 July price changes by the energy regulators for more background.

Which providers are raising electricity prices on 1 July?

Officially, only AGL and Origin Energy have come out with details on their price changes, impacting customers on variable rate market contracts.

Other providers such as GloBird Energy, Alinta Energy and Energy Locals haven't confirmed what their new prices will look like but we do know they're changing.

Here's what the impact will look like on a state-by-state level if you're with AGL or Origin Energy.

ProviderNSWVICQLDSA
AGL$540 (29.7%)$341 (25.5%)$447 (26.4%)$565 (29.8%)
Origin Energy$407 (21.1%)$361 (25.5%)$347 (21.6%)$405 (24.2%)

These increases will be effective in majority of the states from 1 July. For Victoria the changes will come into effect on 1 August.

"Our decision to increase prices for our market contract customers is based on a detailed consideration of a range of factors including wholesale prices, network charges, retail operating costs, customer affordability and the value we offer to our customers," said an AGL spokesperson.

It's a similar case across the board as energy retailers look to recover costs.

Here's a list of other providers that we know are changing their prices:

  • Alinta Energy: It's listed on its website that its market offers (HomeDeal & SportsPack) for electricity and gas prices will increase on 1 July 2023. New prices can be viewed from 19 June.
  • GloBird Energy: A publisher at Finder received an email from GloBird Energy that her annual estimate would be 2% more than the reference price without any conditional discounts.
  • Red Energy. Our head of editorial received an email stating their rates were increasing and the annual estimate would be equal to the reference price.
  • Energy Locals. The retailer confirmed with Finder that "Energy Locals is no exception" as it too will be changing its prices from 1 July.
  • Simply Energy. Website states its rates will also be changing from 1 July.
  • CovaU. Website states its increasing prices for households in NSW, VIC, QLD and SA from 1 July. New customers that sign up to CovaU Basic up to 30 June will be impacted.

Here's an email a Red Energy customer received outlining price changes from 1 July. Supply charge is going up 21.7%, Anytime use up 21.5% and Controlled load up 16.9%.

Red Energy electricity price changes

This is what a GloBird customer received.

GloBird Energy electricity price changes
GloBird Energy electricity price changes

"These can be challenging times for consumers when it comes to comparing energy deals. Starting from 1 July, almost all retailers will increase their prices, which means there's going to be quite a shakeout in the market," said Energy Locals founder and CEO, Adrian Merrick.

So, how can I save on my electricity bills?

There's a few things you can do to avoid a major impact. This includes:

1. Comparing plans after 1 July

This will give you a better comparison experience as you'll know what the new prices from providers will look like in order to stack them against each other.

Tip: Make sure the plan you choose is below the reference price. Providers display plans on their website by comparing them to the reference price. For example, they'll show the annual estimate and say it's 5% or 10% less than the reference price.

2. Taking advantage of current energy deals

If you prefer to stay on top of your energy bills, you could take advantage of sign up deals to soften the price increase and then switch after.

For example, AGL and Origin are offering up to $150 in sign up credit. Energy Locals is waiving its 6-month membership fee.

Compare all energy sign up deals available right now in your state.

"Customers should use this as an opportunity to shop around for a deal that better suits their needs. A little tip before joining a new retailer is to ask how long their current pricing will apply for, to avoid any surprises down the line," said Merrick.

Tip: If you plan to switch energy providers down the line make sure you look at additional costs such as disconnection charges. These can fluctuate between providers.

3. Hardship assistance

If you're having trouble paying your energy bills, contact your provider to understand what hardship assistance is available to you.

For example, Origin Energy will be spending up to $45 million over the next 12 months to provide support to customers in hardship. Customers on AGL's Staying Connected hardship program will receive up to $400 in bill credits ($200 per fuel) in the winter period to minimise the impact from the price hikes.

Tip: Ask your provider to help you understand what rebates and concessions you can apply. These can lower your bills even further.

4. Saving on winter heating costs

Winter energy bill stress is a real concern given Aussie homes aren't the best when it comes to insulation. Hack your home and your lifestyle to save on heating costs.

For example, using weatherproof tape or door snakes can help trap warm air inside the room so your heater's not working twice as hard to keep the area cosy. This can reduce heating costs by up to 25%.

Wearing an extra layers of clothes can also go a long way in keeping you comfortable. Choose the right materials for close to your body and then layer up from there. Make sure it's snug but comfortable and avoid cotton as it can get damp.

Tip: You can check out our winter heating guide to see if you're using the most energy efficient heater for your home.

Want to switch to a different energy provider right away? Compare energy plans on Finder to see your options.

Image: @Rodolfo Clix via Canva.com

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2 Responses

    Default Gravatar
    brianJune 21, 2023

    where can i get electricity price details from 1/7/23?

      AvatarFinder
      MariamJune 21, 2023Finder

      Hi Brian, prices will become available starting 1 July as soon as providers make the information available.

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