Last updated on 14th December 2019

How the recent federal election could affect your energy bill

How the change in government will impact your electricity and gas bill, and why you need to compare now..

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You may be shocked when you see your next energy bill.

We are paying 44 percent more for electricity than we did ten years ago… and energy prices continue to rise year after year.

Fortunately, the recent federal election has put our politicians in the spotlight to take action against the crisis. The Liberal Government’s plans to reduce power prices include a price safety net and a $365 million Energy Assistance Payment. They are also focusing on generating reliable energy with the Underwriting New Generation Investments program and the “big stick” legislation.

But what will these changes actually do to your next energy bill and how can you make the most of the new schemes? There’s an easy way to ensure you’re getting the best electricity and gas plan.

The secret to lowering your electricity bill isn’t scooping up the biggest discount, it’s finding a better overall deal. Aussies can use the free service Electricityandgas.com.au to compare prices in their area and immediately see who is offering the best value for money.

Here’s How You Do It:

Step 1: Select your State below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

Depending on your location, usage and home or business set up, some suppliers can better accommodate for your situation and offer a more price competitive plan.

Shopping around is particularly beneficial with the introduction of the Liberal Government’s price safety net.

If you haven’t compared your current electricity and gas plan recently, you could be victim of a loyalty tax.

The price safety net offers a standard price as of July 1st for customers in NSW, South Australia and southeast Queensland.

The figure is aimed to set a common price benchmark giving customers the power to compare, ditch a potential loyalty tax and save.

The Liberal Government claims this direct market offer will save households an estimated $663 per year in NSW, $662 in southeast Queensland and $481 in South Australia.  

You could save this too. All it takes is a quick and easy comparison search to find the best electricity and gas plan tailored to your location, usage and needs.  

In addition, if you are a single parent, veteran, aged pensioner or receiving the disability support pension, you’re also eligible for the one-off Energy Assistance Payment to help with your next energy bill. Eligible singles could get $75 and eligible couples could get $125 before the end of the financial year.

If you’re unsure where you stand, let Electricity and Gas Comparison do the heavy lifting for you. Speak to one of our expert advisers today, and start saving.

This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.