this post was submitted on 08 Sep 2023
67 points (97.2% liked)

Australia

3600 readers
7 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

Banner Photo

Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone

founded 1 year ago
MODERATORS
lodion@aussie.zone
Fluid@aussie.zone
bestusername@aussie.zone
eatham@aussie.zone
67
Energy $prices DOWN! Who's looking forward to the massive drop in the cost of their next electricity bill? (sopuli.xyz)
submitted 1 year ago* (last edited 1 year ago) by tavu@sopuli.xyz to c/australia@aussie.zone
7 comments fedilink hide all child comments
 

Following the "unprecedented price rises" in the past year for retail electricity rates across Australia, it looks like we have some "unprecedented price drops" just around the corner!

I'm not sure whether I need to end this post in a /s or not.

Alt-text: Line graph of annual avg wholesale electricity prices in NSW/QLD/SA/TAS/VIC over F.Y. ending 2010-2024. 2022,2023 show an increase of 100~130% compared to 2021; 2024 shows a return to ~2021 prices (except SA).

Data source: https://aemo.com.au/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem

top 7 comments
sorted by: hot top controversial new old
[–] Treczoks@lemm.ee 12 points 1 year ago

"Energy price drops" does not mean "power bill price drops". It just means "growing profits".

[–] blackrox1411@lemmy.world 8 points 1 year ago

Exactly this, it's what I've been screaming out, every time energy compayclaim wholesale prices have been rising. Like it's googleable information and they're just wrong. I'm on amber and wholesale prices, they definitely ain't going up

[–] Nonameuser678@aussie.zone 8 points 1 year ago

I've been on a fixed rate contract for the last 6 months - locked it in just before the price hike. It's been an absolute life saver as I'm on a very low income at the moment.

[–] A1kmm@lemmy.amxl.com 6 points 1 year ago

My retailer does at least charge the variable charges at cost based on the half-hourly rates (they make all their profit off a monthly fee), so I do see some of the benefit of it immediately (although we do have to make sure we don't use much power during price spikes).

[–] slazer2au@lemmy.world 5 points 1 year ago

Have you looked at your bill and seen how much of your bill is actually power usage and not administrative charges or grid connection fess?

[–] morry040@kbin.social 3 points 1 year ago

The FY2024 numbers would only be the average prices during July - August 2023. We still have 10 months of price movements for the 2024 numbers to be the final results and this Summer is probably going be hit with a lot of energy usage from air conditioning...

[–] HaggierRapscallier@feddit.nl 3 points 1 year ago

You got me lol.