Energy bills can make or break you financially, and in this article we’ll explain how to change the way you use energy and how to choose the best energy product for you.
Energy products and prices can change over time, so it’s important to understand what’s going on.
The average cost of electricity in Australia is about $11.15 per megawatt hour, according to the Energy Information Administration (EIA), and the average Australian household consumes around 70 per cent of its household energy needs from renewable sources such as wind and solar.
But the reality is that energy prices can fluctuate, depending on a range of factors including demand and supply, market supply and demand, and customer demand.
“Energy consumers are also likely to be less likely to have access to secure electricity supplies because of the price volatility,” according to energy information analyst Andrew Reichert from research firm Macquarie.
As a result, energy costs vary by sector.
In Australia, the average wholesale energy price is about 35 cents per kilowatt hour (kWh) but energy prices are volatile, depending heavily on weather conditions, demand, supply and availability of power.
To keep your energy costs down, you should consider what you can and can’t afford to buy.
The Australian Bureau of Statistics (ABS) offers a calculator that allows you to compare the cost of energy products from different providers.
You can compare the average energy cost of various energy products with different suppliers and prices to help you make an informed decision about what you want to buy and what you don’t want to spend.
If you don-t know what your energy needs are, and you need help getting an energy product, you can check the Australian Energy Market Association’s Energy Information Bulletin, which provides energy market information on a broad range of energy topics.
You also may want to check the Energy Supply Guide.