Sydney Home Owners to see double whammy Electricity Hikes

It's been revealed that Sydney Councils are struggling to cope with surging electricity costs following price increases imposed by the New South Wales electricity regulator, IPART.

With a 10% hike already passed throuygh this year (2010) and a further 15% increase expected in 2011, Sydney home owners could be stung twice.

Not only will they see increases at home on their electricity costs, they could also see councils recovering the higher electricity costs by imposing higher taxes and rates.

It's critical that both home owners and local councils taking the simple step of shopping around, hunting down a cheaper deal.  The two key areas to focus on are:

- Competitive energy rates

- Favourable contractual terms

The cheapest price is not always the best.  With lots of suppliers looking to lock customers in for a number of years, including hefty penalties to exit the contract, it's important that all customers, large or small, look to put in place the most competitive commercial terms.