It’s a fresh new year with fresh new data from Energy Consumers Australia and the Victorian Essential Services Commission.
The Small and Medium Enterprise Retail Tariff Tracker and the latest Victorian Energy Market Report provide valuable insights into how gas and electricity prices changes are affecting small businesses in Victoria.
These findings highlight some significant cost increases, presenting challenges for businesses trying to manage operational expenses.
In this blog, we’ll break down the key takeaways from the latest Victorian data and explain how Termina can help you automatically avoid these price changes, securing the best available rates for your business in Victoria.
Key Takeaways from the Energy Consumers Australia and Victorian Energy Market Reports
Rising Energy Costs for Victorian Small Businesses
The last couple of years were tough for small businesses in Victoria when it came to energy bills.
Electricity market offers for small businesses rose by a staggering 27%, while gas prices increased by 19% compared to the previous year.
For a typical small business consuming 20,000 kWh of electricity annually, this translated into a $1,465 jump in electricity costs. Meanwhile, gas bills for small businesses reached a median of $16,562, up from $13,939 the year before.
These gas and electricity prices changes in Australia are driven by rising wholesale costs, which make up a significant portion of the final bill. As wholesale prices fluctuate, so too do retail offers - leaving businesses exposed to sudden spikes.
With Termina, you can protect your business from these fluctuations. Termina automatically tracks the market and moves your business onto the cheapest energy offers available, helping you avoid the worst of these gas and electricity prices changes.
Opportunities for Efficiency and Savings with Termina
While price increases are unavoidable, there are still ways for businesses to reduce the impact on their small business energy bills.
Energy efficiency improvements, such as upgrading to energy-efficient equipment, monitoring usage in real-time, and cutting unnecessary consumption, are effective ways to reduce your exposure to rising prices.
Additionally, switching to cheaper energy plans is still the quickest and most effective strategy.
Termina takes care of this for you automatically. Our platform monitors energy prices across more than 3500 locations, identifies the cheapest rates, and seamlessly switches your business to those rates - without you lifting a finger.
Fixed Supply Charges and Additional Pressures
It’s not just usage charges that are rising - fixed supply charges for electricity and gas are also increasing.
These fixed costs apply regardless of how much energy your business actually uses, placing an added burden on your small business energy bills.
Termina helps manage this by negotiating exclusive rates for businesses as part of a larger buying group, ensuring you pay less than standard market prices.
Plus, our platform manages all your energy accounts, so you always have visibility over your costs and savings.
Take Control of Energy Costs in Victoria
Rising gas and electricity prices in Victoria pose serious challenges for small businesses. With Termina, you don’t have to constantly monitor the market or worry about being caught out by price spikes.
Contact Termina today for a free quote, and let us show you how much your Victorian business could save.
