Energy Prices Rise Sharply

Electricity Price Increase

 

What has happened?

  • Over the past 6 to 9 months, the cost of purchasing wholesale energy has risen significantly
  • This increase appears to be caused by an industry wide ‘structural’ change rather than a ‘cyclical’ change.

What caused the wholesale market price to increase?

  • The imminent and actual closure of cheaper coal generation such as Hazelwood in Victoria
  • A gas shortage caused by Australian gas resources being sold internationally for higher prices
  • The increasing impact of renewable, non-firm generation such as Wind and Solar

What does this mean?

  • Most, if not all, energy retailers will continue to increase their prices to reflect increasing wholesale costs, including Blue NRG
  • Wholesale markets move up and down, we can’t predict the future

What should customers do?

  • You can still lock in a price for a fixed term
  • Reduce electricity consumption and ensure you are on the correct network tariff
  • Contact the team at Blue NRG- we specialise in cutting electricity costs for your business

Victorian wholesale electricity price increase

NSW wholesale electricity price increase

 

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