Australian Businesses Suffering From the Most Expensive Power in the World

August 16th, 2017

The shocking truth is that Victoria is now the top of the charts on residential and commercial power costs per kWh. Not just in Australia but in the world! How can this happen to a country so rich in minerals and natural resource wealth?

This is effectively the government steering Australia into a category 5 cyclone, as our ability to compete in manufacturing in international markets is taken away. Speaking over 100 businesses a week, Choice Energy is being told that product prices have to start going up to account for the rising cost of power, and profit margins still going down.

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Many commercial and industrial companies are sheltered from often a doubling of power bills by their existing contracts, that may still have a year or two to run. Seeing peak energy costs go from 4c to 14c per kWh in a year, means that solar and better power management is essential to cut costs.

Source: Thwaites Report

Taking back control using your own roof as a power source, can often be cheaper than using expensive grid power. It’s not about saving the planet (though it helps) it’s about saving significant operating expense.

What can you do as a business owner or manager?

There are a lot of confusing news articles, but we recommend two easy things you can do to head towards regaining some control.

Pay Less:

Use a broker to tender out your business for a cheaper rate nationwide, prices have backed off a little, but Victoria remains stubbornly high. Taking action now costs you nothing but a phone call and to send in a bill for validation. This will often provide savings, but ultimately, more needs to be done to reduce grid use.

Use less:

Choice Energy will look at what you are using now from the grid. Our analysts can see if there are some easy ways to use less power or your power more efficiently. Commercial LED or solar is often a cost-effective, long-term solution to lock in a large portion of your power costs today, and there remains government funding available. This option is not there for every business, but for some, it can offset 20-25% of project costs. Funding has dropped sharply in the last six weeks and will fall again in January 2018 so there is some urgency behind this.

Take back control of your energy

Speak to one of our Choice Energy Assessors for a free energy evaluation today!

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