You’ve probably noticed your electricity bill going up. You’re not alone. Across Australia, energy prices going up is a reality for just about everyone.
And it’s not because your energy provider is making big changes on their own. Every provider, big or small, is feeling the squeeze. These price increases aren’t about one company. They’re about bigger issues that affect the whole system.
Let’s break it down.
Global Market Pressures
Energy prices going up isn’t just an Australian problem. It’s happening all over the world. That’s because the cost of fuels like coal and gas keeps going up and down. Right now, it’s mostly up.
Why? Several reasons. There’s been a lot of pressure on global supplies, especially after the pandemic. Countries are using more power again. Add in events like war and rising inflation, and it’s easy to see why the price of fuel has jumped.
Australia’s Energy Grid Challenges
Here at home, the energy grid, the wires and poles that move electricity across the country, is getting older.
Parts of it need fixing, replacing or upgrading. That costs money. And the cost doesn’t just fall on one company. All energy retailers help pay for it. Those costs are then shared across all customer bills.
So even if your energy usage hasn’t changed, these updates to the system can still affect what you pay.
Renewable Energy Transition
Australia is investing more in clean energy, like solar and wind. That’s a good thing. But it takes time, planning, and a lot of money to get it right.
We’re in a big changeover period. Old power stations are closing. New clean energy sources are being built. This shift brings short-term costs before the long-term savings kick in.
Even though renewables may lower prices over time, getting there means spending more now. And again, those costs are shared across all energy providers and customers.
Why Retailers Are Affected
Energy retailers buy electricity from the same wholesale market. They also pay similar charges to use the grid and follow the same rules set by the government.
So retailers face similar challenges. So customers need to look at the overall value proposition from their retailer:
- Does the retailer have a local call center, no contract energy plans, helpful app, and online self service?
- Do they let you switch electricity provider online?
- Do they have a range of plans to choose from to suit the way you use energy?
What can still make a difference is finding the best electricity plans Australia has for your needs. Look for flexible energy plans or check if there are energy switch incentives available. These offers can help you save or get better value.
Conclusion
The truth is, in the near term energy prices are likely going up. It’s part of a larger shift, not just the choice of your energy provider.
It’s about global fuel costs, big updates to our power grid, and moving to cleaner energy. All of this affects every retailer in the country.
At Globird, we want to help you stay informed and feel confident about your choices. We’ll continue to keep things clear, offer affordable electricity plans, and help you compare the best energy deals we can.
Got questions? Or thinking about a plan change? Don’t wait. Get in touch with our team today, we’re here to help.