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Queensland energy prices fluctuate under new trial

Electricity prices in brisbane could be changed if the trial is successful 16000646 800469926 0 0 14011382 300

Some Queenslanders could see electricity prices skyrocket on certain days of the year if an innovative new trial is successful.

Speaking at a power and gas seminar in Brisbane, Energex chief executive Terry Effeney remarked on a price trial currently underway as part of a joint initiative between his firm and Ergon Energy.

The Brisbane Times reports that the Energex trial - which began in January - involved a so-called theoretical price for energy. This figure, between five and eight times their normal electricity rate, was charged once a household exceeded its threshold of use.

Trials saw the higher charges made on hot days - when pool pumps and air conditioning units were in high demand. By contrast, normal days saw lower rate charges and users were given a discount on electricity used in the off-peak hours of 20:00 to 08:00.

Consumers, Effeney said, were warned of the higher charges a day in advance - a move which resulted in a 20 per cent to 25 per cent reduction in their electricity use during peak hours.

He explained the trial - which will continue to the end of 2012 - is timely as "there are more price issues on the horizon".

Effeney also said that the study has given unique insight into consumer behaviour, particularly when it comes to responding to signals such as the text message warning.

If you are looking for a lower electricity rate, you may find that switching providers is easier than you think. An electricity switching service can help determine the best deals in your area and switch you to a new plan if necessary.

Posted by Charlie Moore