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EnergyAustralia hikes up electricity prices by $300: What can you do?

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Households across NSW, SA, QLD and the ACT may need to fork out hundreds of extra dollars on their electricity bills if they're EnergyAustralia customers.

EnergyAustralia, one of the largest energy retailers suppling electricity and gas to 1.6 million customers, is increasing prices on most of its variable rate electricity plans by up to 14.1%.

This will impact customers that signed up with EnergyAustralia between 1 July 2022 and 31 January 2023.

Has EnergyAustralia increased electricity prices where I live?

Here's an overview how each state or territory has been impacted and what the extra cost will add up to over the year.

  • NSW: $276 (12.4%)
  • ACT: $221 (10.2%)
  • QLD: $301 (14.1%)
  • SA: $252 (10.9%)

Small and medium-sized businesses have also been hit by the price hike by as much as $600.

"I received an email from EnergyAustralia a couple of weeks ago that my electricity bills would go up by $333," said Michelle, an impacted customer.

"To be honest I'm surprised it took so long given the energy crisis hit mid-2022. However, I did notice my bills had crept up more than usual despite having similar or less usage than the period before.

"Then seeing the written notice that my bills would definitely go up by the $300 over the year made me decide to compare plans and see if I could get a better deal elsewhere. I've now switched providers after comparing and finding a cheaper plan."

How do I avoid EnergyAustralia's price increase?

If you haven't done so already, consider comparing energy plans for a cheaper deal.

Here's a look at some of the cheapest energy providers across impacted states on Finder.

  • NSW and QLD: GloBird Energy, Sumo and Nectr
  • SA: Energy Locals, GloBird Energy and Alinta Energy
  • ACT: ActewAGL, Nectr and CovaU

Will energy price hikes continue throughout 2023?

EnergyAustralia's online statement on its price hikes refers back to impacts to energy globally due to the war in Ukraine, extreme weather conditions and coal supply issues.

"These factors mean that it's costing us more both to generate and purchase wholesale electricity for our customers," the statement said.

We've also seen major retailers including AGL and Origin Energy increase gas prices across multiple states by almost 25%, with Victoria impacted the most.

You may not notice the true impact of all the ongoing energy price hikes until a few months as the increased bills start to add up.

You don't need to wait for an increase notice to switch. Start comparing energy plans today.

Image: @Georgijevic via Canva.com

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