Electricity prices in Tasmania are regulated. Aurora Energy is Tasmania’s only electricity retailer and is owned by the state government.
This means that customers don’t have the opportunity to source lower prices through competition. Although other retailers may enter the Tasmanian market, the heavily regulated energy market discourages this, probably due to the lack of profitability in the market for a large corporation. Unless the government deregulates electricity prices it’s unlikely that this will change.
A heavily regulated market may have been a good thing, as with wholesale power prices rising, and the potential of price hikes, prices have thus far stayed relatively steady.
So how do make savings?
Saving money on your electricity bill
Due to the lack of competition in Tasmania, reducing costs for electricity comes down to your eligibility for a subsidy and knowing how you can reduce your bill by changing your usage habits.
Check here to see you if you are eligible for concessions:
Tips for reducing energy consumption around your home
- Turn your hot water off overnight, the temperature is normally only slightly reduced by morning, and you can switch it back on when you wake up
- If you have a time of use meter, do your clothes & dishwashing outside of peak times
- Know which appliances are expensive to run & minimise use – e.g. clothes dryer, air conditioner, heater
- Turn off switches when appliances are not in use – e.g. television, microwave, lights, fans
- Wash clothes in cold water as much as possible
- Be efficient in your use of washing machines & dishwashers – make sure you have a full load
- Turn off the lights when you leave a room
- In winter use rugs & door stops to block gaps in doors and naturally warm your home