What is this review about?
We have reported on competition in the electricity and gas retail markets in NSW for the 2021-22 financial year.
What have we found?
We have found that electricity prices have increased by around 25% between May and August 2022. This has been largely due to the war in Ukraine, which has led to global gas shortages and higher global gas and coal prices. Gas prices are also up by around 20%.
What should you do to reduce your bills?
You should shop around for a better energy deal on the Australian Government website Energy Made Easy.
The NSW Government offers a range of assistance to households including the Low-Income Household Rebate (Maximum rebate of $285 per year) per year and NSW Gas rebates (Maximum rebate of $110 per year) among others. You should visit the NSW Government’s Savings Finder website or book an appointment with a specialist to check if you are eligible for assistance.
The NSW Government also provides advice on small changes you can make to help reduce your energy consumption.