Power bills hike to push more
NSW families into Fuel Poverty
312,000 NSW families -
the equivalent to the population of Canberra - will officially be
in Fuel Poverty following the price hikes
- In 2009 an estimated 210,000 NSW households suffered Fuel
Poverty
- In 2010 this rose sharply to 249,000 households
- These 2011 price hikes will push 312,000 NSW families into Fuel
Poverty
- Fuel Poverty is when a household needs to spend more than 10%
of its income on fuel
Sydney, 15 April, 2011: The latest power price hike in NSW will
push over 300,000 families into Fuel Poverty according to research
from independent electricity price comparison site
www.makeitcheaper.com.au.
Figures announced yesterday by the Independent Pricing and
Regulatory Tribunal of NSW (IPART) state that a 10% increase in
network costs will be passed to the retailers, as will a 6% price
rise from the Federal Government's Renewable Energy Target (RET)
scheme.
If the price increases go up to the much mooted 18% figure the
hike will put 312,000 households - the equivalent of the population
of Canberra - officially into the Fuel Poverty category.
Fuel poverty isn't just about access to heating. The definition
of fuel is taken to include all expenditure on domestic energy,
including that used for hot water, cooling, lights and
appliances.
Tim Wolfenden, CEO of Make It Cheaper warns that these hikes
will have a severe impact on NSW households.
"An 18% increase could add around $216 per year to the average
household bill. This will be compounded by the seasonal spike as
heating bills rise during the winter months. Soon many families may
have to choose between fuel and food," he said.
"Families were already concerned about the rising cost of
living. This increase is just unsustainable for many households and
as always, the vulnerable will suffer most. Winter can hit hard in
NSW and the sick and elderly will genuinely struggle to pay such
high bills," he continued.
However, there are other options for reducing the family fuel
bill.
"A household bill could be slashed by up to 15% by finding a
better deal and switching to a new supplier," he advised.
"As competition across NSW begins to creep in, families can make
significant savings by just switching their energy supplier.
Even if they think they are locked into contracts, the savings
often outweigh the penalties," Wolfenden explained.
Common Electricity Supplier Myths Busted
- It's too hard to switch: Switching
supplier is easy - it only take a few minutes to complete the paper
work, which can all be done over the phone
- My power will get cut off: Switching
is seamless - your electricity supply will not be affected.
The only difference will be the supplier's name at the top of the
bill, and the price you pay
- There's no saving to be made: There's
a range of electricity suppliers operating in New South Wales - all
of these are vying for your business, offering cheaper rates to
beat the old traditional suppliers
How to switch with Make It Cheaper:
- Call Make It Cheaper on 1300 95 77 21 and
we'll search the entire market for a cheaper deal
- Fax your most recently electricity bill directly to Make It
Cheaper (including your contact details) on 02 9423
4648. We'll search the entire market and call you back
with a cheaper deal
About
www.makeitcheaper.com.au
Make It Cheaper is Australia's first dedicated
business price comparison service. Acting as an independent energy
broker Make It Cheaper is helping Australians make
their electricity and gas bills cheaper, by offering a free and
independent comparison and switching service.
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