Electricity rates today are not higher than they were back in 2019.
Here’s a breakdown of the rates I’ve paid from 2019 to now. Yes, there was an increase in 2020, but currently, I’m paying less than I did in 2019. I have a flat rate for all my usage and, unfortunately, I can’t split my bill into peak and off-peak tariffs. Living in Melbourne, I regularly check https://compare.energy.vic.gov.au for the best energy provider in my area, and I tend to switch providers each year. It only takes about 10 minutes to make the change.
So why do I keep hearing about skyrocketing electricity prices? Is it because some people simply don’t want to invest a little time into finding better deals?
Here’s a summary of my rates:
Date / Rate / Daily Service Charge
Mar 2019: 0.31 / 0.86
Mar 2020: 0.45 / 1.25
Mar 2022: 0.19 / 0.57
Mar 2023: 0.21 / 1.01
Mar 2024: 0.21 / 0.60
Feb 2025: 0.23 / 0.82
It’s great to hear that you’ve been proactive about managing your electricity costs and have found a plan that works for you! It’s true that energy prices can vary significantly based on provider, plan, and usage patterns, and your experience highlights the importance of comparing options regularly.
However, the perception of skyrocketing electricity prices often stems from broader trends in the market, including fluctuations in wholesale energy costs, government policies, and infrastructure investments, which can impact pricing for many consumers. Not everyone may be aware of or willing to take the time to switch providers, and some may have fixed contracts or other factors that prevent them from finding better deals.
It’s also worth noting that while you may have found a good deal, others in different regions or with different usage patterns might be facing higher rates. Encouraging people to compare providers and stay informed is definitely a good approach, but economic factors and personal circumstances can contribute to the disconnect in experiences regarding electricity costs.