Shop around to find cheaper business electricity

Published: July 16, 2010 - 12:00 PM

Business owners don’t realise how much they can save

Businesses in Queensland (Qld), South Australia (SA), New South Wales (NSW) and Victorian (Vic) are benefiting from increasing competition in the business electricity and business gas markets. With the significant price increases in July there has never been a better time for businesses to shop around for a better energy deal with potential savings of up to 20 percent.

In Queensland the multi-billion dollar expansion programs planned by Energex and Ergon meant electricity prices rose by more than 13 per cent at the beginning of the financial year.

July 1st also saw price increases by 7 to 13 percent in New South Wales - depending on where your business is located. The NSW Independent Pricing and Regulatory Tribunal (IPART) approved an average 13 percent increase in the regulated retail electricity price for County Energy, a 10 percent increase for Energy Australia, and a 7 percent increase for Integral.

In South Australia the average price of electricity for many businesses rose by 10 percent.

The price increases could have been even larger if the federal government had successfully introduced the ETS to Australia – price rises of over 60 percent in some cases.

Many business could make large savings by simply switching to the best energy supplier in their area, but haven't because they:

don't know they can switch
believe they are 'locked in' to a contract
don't have the time or expertise to shop around and compare all suppliers

The deregulation the the energy markets in Queensland, South Australia, New South Wales and Victorian has led to increased competition and the introduction of cheaper energy plans. Simply by switching to a new electricity or gas supplier a business could reduce their energy bill by 10 or even 20 percent. Any penalties imposed for breaking an existing energy contract are normally quickly recouped by the future savings.

The free business energy comparison service offered by ShopAround.com.au compares all of the energy suppliers available to a company and helps businesses reduce their energy bills with minimal effort.

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