State Rates Victoria

Why do energy rates change each year?

Each year we adjust your energy rates. The good news is that this means you shouldn’t see any more changes to your energy rates for another year.

Our policy has always been to send a written notification whenever we change our rates to give our valued customers as much notice as possible.

Why have my rates gone up?

Each year we adjust your energy rates. The good news is that this means you shouldn’t see any more changes to your energy rates until the year ahead.

To get a rough idea of what makes up a typical electricity bill, check out the cost stack chart (taken from page 4 of the Victorian Default Offer 2024-2025 Final Decision Paper) below, showing the components that make up a typical household bill on a default energy plan. The retail margin is the tiny orange portion. Although this is not directly linked to your specific energy plan, it provides a good insight into a typical energy bill.

The good news is that once we re-set rates, you shouldn’t see any more changes to your electricity or gas price for another year. To learn even more about the cost stack and retail margins for default energy plans, see the VDO price document, linked here.

Why do energy rates change?

GloBird is a retailer, we pay the network/distributors who deliver the energy to your premises after buying energy on the wholesale market. As such, we do not control wholesale or network prices. Wholesale costs are driven by supply and demand on the NEM (National Energy Market), and network companies obtain government approval for their distribution charges.

Network costs can make up a significant portion of a power bill, and these costs seem to be increasing. This topic is covered by ABC in Your power bill is going up, according to one energy boss. Here’s why. Although this is only one component of a typical energy bill, its important to understand some of the factors that feed into retail prices.

More detail about the government’s $20 billion “Rewiring the Nation” initiative, can be found here, directly from the Department of Climate Change, Energy, the Environment and Water.

Link: https://www.dcceew.gov.au/energy/renewable/rewiring-the-nation

Under our agreement with you, we review our prices from time to time. In these reviews we take all kinds of things into account, including the wholesale price of energy, your distributor’s charges and the costs of running our business, as well as whether we are making a reasonable profit and the energy market overall. We have considered all these factors on this occasion, in reviewing and re-setting your prices.

Why have my rates changed so soon after I joined you?

GloBird normally reset energy rates once a year. The length of time your price will remain unchanged depends on when you joined us. The further away from that annual price re-set date, the longer your rate will remain unchanged. Likewise, customers who join us later may see a rate change sooner. The good news is that once we re-set rates annually, you shouldn’t see any more changes to your rates for another year.

What can I do to save more?

Ultimately, the best way to control your energy costs is to manage your usage. A list of energy saving tips is available below.

Gas 9 simple tips to keep your gas bill down

Electricity How Can We Save Energy In Our Homes?

We always want to make sure you’re on the most cost-effective plan, you can contact us at any time to check your plan. Email CS@GloBirdEnergy.com.au

What are the government doing to ease the pressure of rising energy costs?

The federal Government recognise the need to help Australians with the rising cost of energy and have teamed up with the States to set up the largest “Energy Relief Package” in Australian history. Together they put $3 Billion into a relief fund to help millions of Australian households. Many of the payments will automatically be applied to energy bills. To learn more about eligibility and the details of the Energy Relief Package for your state or territory click here.