Gas price hikes: Aussies face $480 hit tomorrow

Thousands of Aussies will be hit with higher gas bills, as the ‘big three’ energy retailers prepare to raise gas tariffs tomorrow.

Origin Energy, EnergyAustralia and AGL are increasing gas tariffs for some customers across New South Wales, Victoria, South East Queensland, South Australia and the ACT.

For example, Victorian households on variable market contracts with EnergyAustralia will see their bills go up by 26.7 per cent, on average - or around $480 per year.

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Meanwhile, Origin Energy and AGL said their gas rates would rise by an average 22.1 per cent and 21.4 per cent respectively.

iSelect spokesperson Sophie Ryan said this would come as “unwelcome news” for Aussies already struggling with the rising cost of living.

“Aussie customers facing gas price rises - due to kick in from February 1 - probably won’t experience the full effect of the hike until the winter months, when many of us are typically churning through gas for heating,” Ryan said.

“As well as comparing your gas plan and provider now, it’s a great time to think about steps to take around the home to curb your gas usage during winter, to avoid a sky-high winter bill.”

Aussies should have received a notice from their energy provider to let them know of any rate increases.

5 tips to save on energy bills

iSelect shared these five tips for finding a suitable energy deal:

1. Loyalty may not always pay. Energy plans generally expire after a year or two, particularly those with discounts. So, if you’ve been on the same plan for years, you may have been transferred to a higher-priced plan.

2. Don’t default to the default. The default market offer (DMO) or Victorian default offer (VDO) might not be the best option for you, so make sure to compare default and available market offers.

3. Don’t set and forget. Retailers need to notify you when your rate changes or discount expires. Use this as an opportunity to compare plans.

4. Flexible payment options. To help avoid bill shock, consider paying your bills weekly, fortnightly or monthly, or sign up for bill smoothing (which divides annual payments into monthly instalments).

5. Shop around. Although some providers have stopped offering gas, there are still savings to be found so it’s worth comparing your options.

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