Synergy Price Increase 2018-19
WA State Treasurer Ben Wyatt has announced an increase in electricity prices of 7%, starting from July 1.
This increase is part of a number of fee changes, that will see households face an expected additional $290 in charges annually.
After Synergy’s daily charge rate was almost doubled in last year’s budget, this year’s increase of 7% is expected to cost the average homeowner an additional $120 per year.
According to Ben Wyatt, the increases, while not ideal, are lower than the rolling 10-year average and will not stretch the average homeowner too thin, “While some increase in household fees and charges are more than we would like, these increases are lower than last year and we have also worked hard to make them lower than expected in some cases.
“The McGowan Government remains committed to minimising the impact on those Western Australians most in need, with total subsidies of $2.2 billion to be spent across the next four years.”
However, shadow treasurer Dean Nalder has labelled the Government’s increases to fees and charges as excessive in the current climate.
It’s anticipated that these changes to electricity prices will take a typical household bill from $1722 to almost $1850 a year.
“We are not sure how people are going to cope,” he said.
If you’re worrying about the impact these changes will have on you, investing in solar can help households extremely limit their usage of grid electricity, effectively avoiding the impacts of the 7% Synergy A1 increase.
Electricity Price Increases
|Home Electricity Plan (A1)||Prices (Inc. GST)|
|Supply charge||$1.0155 per day|
|Electricity charge||28.33 cents per unit|
|L3 Tariff||Prices (Inc. GST)|
|Fixed charge||55.7397 cents per day|
|Variable charge||36.63 cents per unit|
|R3 Tariff||Prices (Inc. GST)|
|Fixed charge||$2.8126 per day|
|Peak rate||49.24 cents per unit|
|Off peak rate||15.16 cents per unit|
|L1 Tariff||Prices (Inc. GST)|
|Fixed charge||$1.7154 per day|
|Variable charge - First 1650 units per day||26.69 cents per unit|
|Variable charge - More than 1650 units per day||30.10 cents per unit|
|R1 Tariff||Prices (Inc. GST)|
|Fixed charge||$3.3090 per day|
|Variable charge - First 1650 units per day||35.89 cents per unit|
|Variable charge - More than 1650 units per day||10.77 cents per unit|
Benefits of Installing Solar
Significant Investment Returns
Installing solar means saving on your electricity bill from day one. This translates into a return on your initial investment of 15 - 30% per annum for the lifetime of your solar PV system (20+ years).
Short Payback Periods
New research has shown that an average home with a 5kW solar can expect their system to pay for itself in just 5 years.
In fact, a 5kW or larger system will pay for itself in under ten years, even if it exports all of its solar electricity.
Increase the Value of Your Home
Energy efficient homes have been proven in both the US and Australia to sell at a significant premium (up to 19% more) to less efficient ones.
Plus, up to three quarters of renters say they would pay an additional $10 per week to live at a property with solar energy.
Decrease Your CO2 Footprint
Using the electricity you’ve generated via your own solar system means that you’ll draw less electricity from the grid, the majority of which is produced at coal power stations.
Installing a solar PV system is the single most effective step you can take towards reducing your carbon footprint.
The Bottom Line
Installing solar can dramatically reduce and sometimes even eliminate your day time energy bill, easily absorbing the 7% Synergy increase.
With over 11,000 installations to our name, Infinite Energy are experts in designing and installing the perfect solar PV system for every home.
To find out how much installing solar could save you, click here for a no obligation, or give us a call on 1300 074 669.