There’s no doubt that the bills for Australian families and businesses are going up.
A new survey of 500 Australians, conducted by ‘Beyond Back’, showed that up to 25% are struggling to make ends meet when it comes to the rising cost of living. Two areas of concern for consumers – electricity and telecommunication costs – are the expertise of Gulf Gold’s Electricity & Telecommunications Brokerage Service.

Soaring electricity price increases are now being reflected in the electricity bills of households and businesses, throughout Australia, with more than $210 a year being added to the average bill, according to the Australian Energy Regulator.

However, an estimated six million people will qualify for a one-off, cost-of-living payment from the government, of $250 for eligible payment recipients and concession card holders.
The higher electricity costs are also expected to influence inflation, which is at its highest since the introduction of the Goods and Services Tax (GST) in 2000.

From July 1, the default market offer for electricity increased by between 1.7 and 8.2 per cent above inflation in NSW, south-east Queensland and South Australia.
The default market offer is a safety-net price cap set by the Australian Energy Regulator to protect consumers against unjustifiably high prices.
Victoria has its own default market offer, and prices in the rest of Australia are regulated separately by states and territories.

The Queensland Wholesale electricity market is experiencing extreme and consistent price volatility that has never been seen before.  The wholesale prices for Queensland are in excess of 600% higher than at this point last year.

Consumer product comparison website, Canstar Blue, cites the war in Ukraine, global coal prices and floods in parts of Australia, as the reason for pushing up the wholesale price of electricity, even before the July 1 increase in the price cap.

The 10% of consumers on default market offers should not assume they have the best price. They would be most impacted by the price change as the default price is the maximum amount to pay.
While it is difficult to predict what would happen over the rest of the year, most analysts expected prices to fluctuate until at least October.

Covid-19 certainly raised costs at home with many people throughout the country, working from home – this increased both electricity and telecommunications consumption at home.
Following this digital home boom established during COVID-19 pandemic lockdowns, consumers are now finding the cost-of-living crisis is also putting pressure on many households due to their concerns that their telecommunication provider will increase subscription rates.

Telstra, which, according to the Australian Communications Media Authority, supplies mobile phone services to nearly half of the Australian market, is charging its customers between $2 and $4 extra per month. Optus announced it was increasing mobile plans by $4 a month, too, while Optus Sport is to become a paid subscription service.

The ACCC is responsible for the economic regulation of the communications sector, including telecommunications and the National Broadband Network (NBN), broadcasting and content sectors.
Canstar Blue’s research shows that the majority of consumers are happy with the move to NBN but there is still a significant percentage of those unsatisfied with their plan, provider or pricing.
Trying to negotiate the various plans for electricity from the many providers, can be an absolute nightmare – one easily avoided by contacting Gulf Gold’s Electricity & Telecommunications Brokerage Service, to do the work for you.

However, Gulf Gold’s Electricity & Telecommunications Brokerage Service, makes life simpler and easier in providing the best electricity and telecommunication plans for the consumer, through the relationships we have developed in the industry.

While it might be tempting to stick with the same provider for the convenience, consumers can save hundreds each year by switching to providers offering a more appropriate plan for their household needs and they don’t have to stick with an underperforming or overpriced plan.
Understanding how people use the internet, and what they actually need from their NBN plan, is the first step in finding a better deal and Gulf Gold’s Electricity & Telecommunications Brokerage Service, will secure the best deal for consumers, with their network of service providers.

Not only will Gulf Gold’s Electricity & Telecommunications Brokerage Service help you get a better deal on your NBN or electricity service, but by connecting through our partner providers, you’ll help those who are in need, in rural Australia.

Unlike other electricity and telecommunications brokers, Gulf Gold contributes a percentage of profits to its Charity of Choice, Australian Horizons Foundation. Australian Horizons Foundation raise funds that are distributed to other charities, service clubs, community groups, families and individuals who are experiencing hardship. The Foundation focuses on Mental Health awareness & support, rural education, land & water to support rural Australia.