New South Wales electricity prices to rise by 62 per cent over 3 years
Whilst the Victorian energy regulator, the Essential Services Commission announces a 127% rise in complaints, the New South Wales regulator, IPART, has today recommended that energy prices rise by 62% over 3 years.
In real terms, this means an additional $727 for a Sydney energy bills, whilst those in country New South Wales could see total increases of anywhere between $554 and $893. What makes this worse, is that this is just the picture for home owners.
A similar size rise for small businesses could see rise anywhere between $1500 up to $3000.
Make It Cheaper says: "Energy bills are destined to rise and today's announcements brings the potential effect into a stark reality. With small businesses potentially being hit by an additional $3000 over the coming years, it's going to prove ever more critical for businesses to shop around for cheaper deals.
"The silver lining here is that new suppliers should see this as a sign to enter the New South Wales market and compete aggressively for the huge volume of customers that currently own and operate businesses in the state. We'd hope that a lot of businesses will be able to offset the effect of these prices increases by merely switching to a cheaper provider"
Shopping around is critical for a small business owner, and it's crucial that they use an independent comparison service to make sure they switch to the best deal in the market for their particular needs.