At GEM Energy, we like to keep our fingers on the pulse. We constantly update our cash flow analysis and pricing sheets to reflect the latest developments in the wholesale and electricity retail market.
Last week we were stunned when Aaron picked up on the truly insane price increases in the Australian wholesale electricity market.
According to the Australia Bureau of Statistics, electricity prices have been rising at an average of 6.5% per year.
However, from January 2016 to January 2017, the wholesale rate for electricity in Queensland went up from 5.7cents per kWh to 7.9cents per kWh – which spells a 38% increase!
These price increases have not yet been passed on to consumers, as retailers are on rate contracts for several years at a time. But some of them are coming off their contracts now, and the results will be felt all across the board…fortunately there are alternatives to look at!
In the face of rapidly escalating energy rates, going solar and improving your home/business energy efficiency are smart options – get in touch today!