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Electricity Price Cuts on Hold

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If you had thought you were going to save on your electricity this year, think again. The promised price cuts have been put on hold, threatening the predicted $300 a year saving per household which was introduced last year. How? Why? They promised! We hear you cry. It’s a long story, but we’ve done our best to make sense of it for you.

Save money on you rproperty using LED lights

Last year, the Australian Energy Regulator, a part of the Australian Competition and Consumer Commission, decided to exercise their right to review planned spending by the electricity companies and made a number of spending allowances and assumptions that lead to consumers saving up to $300 a year. These findings were challenged, and a ruling was made by the Australian Competition Tribunal which overturned some of the decisions made by the regulator. Some rulings agreed with the regulator, others with the electricity companies – and the one thing that resulted is an almost guaranteed rise of prices. The regulator is likely to seek legal advice and appeal. The electricity companies said the proposed spending cuts would compromise network reliability, resulting in power outages and failures (we have to ask: what state are they in that this is a risk in the first place?). Another challenge is to be launched by the Public Interest Advocacy Centre, which claim that the regulator’s spending cut recommendations were too lenient and that electricity companies should be forced to cut more spending, further reducing household electricity bills. Of course the companies argued against this, and their ideas would have led to an increase in bills of $500 a year.

All this too-ing and fro-ing leads to one big question: how do I save on bills?

LED lighting is the best way to save on your electricity bills. LED lights are energy efficient – in fact, one bulb can last up to 50,000 hours or more, they produce less heat and they use less energy. Prices of LED lights are dropping and they’re available in many colours, shades of white, dimmable varieties and, soon, capable of carrying an internet connection. What more can the humble LED bulb offer? With the proposed price hike taking place, LED bulbs can help reduce your bills, saving you money in more ways than one.

To recap, LED lighting will help you save not only on your electricity bills, but in other household ways:

  • They last up to 25 times longer than the older incandescent bulbs
  • They use up to 80% less energy
  • They emit less heat, which means you don’t need to switch on the air conditioner

Make the switch to LED today.


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