Advertisement

Huge $134 bill hike coming from August 1

Energy retailers including AGL and Origin have confirmed gas price increases for customers.

Tamika Seeto
·Finance Reporter
·3-min read
Origin, AGL gas bills
Aussie households will be hit with higher gas bills in the coming weeks. (Source: Getty/Origin/AGL)

Aussies will be hit with higher gas bills next month when price changes kick in across many of the major cities. A finance expert is warning New South Wales and Victoria residents will be “hit the hardest”.

Major energy companies, AGL and Origin, have now revealed their gas rate hikes to households. AGL, one of the country’s largest gas retailers, will increase gas prices for standing and market offer customers in Victoria, New South Wales, Queensland and South Australia from August 1.

Origin Energy has also announced price changes. EnergyAustralia confirmed standing offer price changes last month and will announce changes for market offer customers this week.

RELATED

AGL customers in NSW will see their gas bills rise by 8.2 per cent or $71 on average from August 1, while Victorian customers will be hit with a hike of 8.6 per cent or $134.

Those in Queensland will see a 5.1 per cent or $42 increase, while South Australian resident bills will go up 5.4 per cent or $51.

Origin residential customers in Victoria will see their bills go up 7.3 per cent or $125 on August 1. Those in the ACT will also see their bills rise by 6.5 per cent or $80.

Origin said it already hiked prices for Queensland (4.1 per cent or $34), NSW (8.1 per cent or $83) and SA (6.2 per cent or $66) households on market and standing offers, along with Victorian households on standing offers, on July 1.

Do you have a story to share? Contact tamika.seeto@yahooinc.com

Finder utilities expert Mariam Gabaji said customers were now facing higher gas bills along with high electricity bills.

Providers claim higher network costs, environmental certificates, commodity and haulage costs are the factors behind the latest gas price hikes.

“The reason it is happening right now is the distribution charges for retailers are revised around this time of the year,” Gabaji told Yahoo Finance.

“Both electricity and gas prices change around the same time … The price can be a bit varied based on the provider and what their gas contracts are like with the generator and where a customer is based.”

Some electricity customers are also being hit with price increases. That's despite default market offers - which is the benchmark price for electricity - going down for most households.

“Default offers are regulated but at the end of the day with market offers, it’s really up to the retailers to decide,” Gabaji explained.

About one in 10 households are on default market offers, which are set by the Australian Energy Regulator and Essential Services Commission, with the remainder on market offers. The government's $300 energy rebate for households is set to roll out from this month.

A quarter of Aussies said their energy bill was one of their top three most stressful expenses in June, Finder’s Consumer Sentiment Tracker found.

Aussies spent $215 on average on their quarterly gas bill and $384 on their quarterly electricity bill in June.

Gabaji recommended households shop around and compare their energy plans.

“If you don’t shop around and compare [your gas plan] frequently, at least once a year, you could be moved onto a standing contract, which generally tends to be a lot more expensive. You want to be on a more competitive market offer,” she said.

If you find a cheaper deal, Gabaji said you could go to your current provider and see if they can offer you even cheaper rates.

With the average Aussie household expected to shell out $257 to heat their homes this winter, Gabaji said it could also be worth doing little things around the home to cut down on heating costs.

“Make sure you’re heating the room you use the most. Make sure the doors are closed. Do DIY methods to insulate your home if you can,” she said.

Get the latest Yahoo Finance news - follow us on Facebook, LinkedIn and Instagram.