The Independent Pricing & Regulatory Tribunal IPART in NSW has agreed to a massive increase in electricity prices across the state. Several large energy providers have announced up to 20% rate increases for their customers. NSW consumers will be shell shocked when they receive their next electricity bill from the utilities. Of course CEOs and executives wages have increased recently alongside outrageous perks that include chauffeur driven limousines to entertainment events with alcohol and food provided free of cost. But charged to the energy rate payers a.k.a. their customers. In addition, so called deregulation of the electricity market was supposed to deliver better service and reasonable energy prices. However has only seen significant price increases and more confusing contracts that lock you in for years. Plus if you try to swap providers, you may be hit with a large exit fee.
The Australian government has launched a website to compare energy prices from providers. Have your recent electricity bills handy because you'll need certain information from the bill to enter into the comparison form.
Image courtesy of IPART