Yahoo Finance $257 bill that’s about to hit millions of Aussies
Aussies will fork out almost $1.7 billion to heat their homes this winter, new research has found.
Aussie households are set to be slugged more than $250 to heat their homes this winter. But with electricity rebates and new prices kicking in, there are opportunities to save on your electricity bill.
Finder looked at the running costs for 70 electric heaters and 10 gas heaters to figure out how much it would cost households to stay warm during the cold months. It found the average household would have $257 added to their electricity bills if they ran just one heater.
Gas heaters worked out to be the more expensive option, costing $274 on average, compared to electric heaters, which cost households $239 on average. Reverse-cycle air conditioners were the cheapest way to keep warm, costing just $149 to run on average during winter.
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Finder utilities expert Mariam Gabaji said heating made up about 30 to 40 per cent of a household’s overall energy bill.
“$257 might not seem like a massive amount at first glance but keep in mind, it's just for using a single heater, not multiple heaters, and definitely doesn't make up the entirety of your energy bill,” Gabaji said.
With many households facing “tight budgets”, Gabaji recommended people call up their provider to see if they had a cheaper plan available or compare deals from other providers to see what rates were on offer.
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“If you haven’t compared and switched providers in the last 12 months, you’re probably missing out on substantial savings,” Gabaji said.
Aussies spent $388 on average on their quarterly energy bill in May 2024. Nearly a quarter said their energy bill was one of the most stressful expenses they were facing.
What electricity rebates are coming?
From July 1, every Aussie household will receive a $300 energy bill rebate. The credits will be applied in quarterly instalments of $75 over the financial year.
Queensland households will also get a $1,000 energy rebate on their electricity bills, while Western Australian households will get a $400 credit on their bills.
There are also power price changes to factor in, with most Aussies' energy rates set to change from July 1.
The Australian Energy Regulator’s and Essential Services Commission’s final default market offers were released last week, setting the maximum amount electricity retailers can charge households.
Power prices will drop for people in NSW, South Australia and Victoria from July 1, but they will rise for people in Queensland.
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