ESC report show a rise in Vic gas prices rising
An Essential Services Commission (ESC) report released on September 20 shows that gas prices in Victoria have increased over the last five years.
The ESC inquiry has found that residential gas prices have risen on average by 22 per cent in the periods between 2007 and 2012.
Some energy consumers choose to have a standing offer contract but these agreements may not be a competitive deal.
The findings in the ESC report highlighted that about one third of Victorians are still on one of these standing offers for their retail electricity or gas.
It also revealed that residential gas consumers have the potential to save nine per cent on average or about $114 every year if they chose to switch their energy option to a fully discounted market offer.
Even businesses can make savings of 16 per cent on gas charges by switching to a fully discounted market offer.
This may provide incentives for household and businesses to re-evaluate their gas prices and potentially look at other options in an effort to reduce their costs.
To find out whether you are on the most appropriate energy plan you may wish to examine the deal with other gas suppliers.
Posted by Callum Fleming