Families to be hit hard as Electricity Prices Soar
Victorian families can expect their power bills to soar this year following the impending closure of the Hazelwood power station in Victoria. In a report by the Australian Energy Market Commission (AEMC) it was estimated that Victorian homeowners living in the eastern states could be slugged with an additional $78 to their power bills by the end of March.
Hazelwood produces as much as 4% of the national electricity market, supplying power in New South Wales, Tasmania and South Australia. This closure could cause a domino effect, causing rapid and widespread implications for Australia’s national power grid and its customers.
Federal Energy Minister Josh Frydenberg stated that Hazelwood’s closure will result in an increase in electricity importation from NSW and Tasmania. Neighbouring states will experience a price increase as “there won’t be that cheaper form of generation, particularly brown coal, which is what Hazelwood does produce, going into those other states,” Mr Frydenberg said. He continued on, stating that “the minute you start supplying either black coal or gas or renewables, costs do go up.”
Hazelwood’s closure will also result in the loss of over 800 jobs furthering Victoria’s economic hardship in a time where unemployment is already running at almost four times the national average.
Mark Wakeham, Victoria’s Environment chief executive stated that while he empathised with Hazelwood’s workers, the plant’s closure was long overdue. However, he also said that we must look to the future and set our sights on renewable energy “we’re likely to see significant investment in new renewable energy projects [in Victoria],” he said. “It will send a signal to the market that we need more renewable energy projects that will deliver a lot more clean energy, a lot more jobs.”
Unfortunately, these renewable energy projects are still many years away from commencing. In the meantime, Australian power consumers must look at new ways of saving, including seeking alternative power sources.
Managing Director of Boss Solar Mr Norman Mills, states that pool owners can “save themselves a significan
t amount of money, by replacing their Gas Heater or Heat Pump with energy efficient Solar Pool Heating.” Many Australian consumers install a Gas or Heat pump, with the promise of swimming all year round. Unfortunately, many of these consumers are poorly informed when it comes to the exorbitant running costs of these heating options. These costs are only set to increase, as Hazelwood’s closure makes them unaffordable.
Solar Pool Heating is the most energy efficient and cost effective pool heating option on the market. In fact, by installing a Boss solar pool heating system, over the life of its warranty, you will save the planet 140 tons of greenhouse gas emissions compared to a Heat Pump and 160 tons of greenhouse gas emissions compared to a Gas Heater. Over the same period the pool owner will save up to $69,850 and $80,580 on running costs compared to a Heat Pump and Gas Heater respectively and that’s without the Hazelwood price increases!
For Pool owners who wish to swim in the cooler months, the financially clever and environmentally responsible option is to combine a Boss Solar System with a Gas Heater or Heat Pump and benefit from significant savings.
If you are interested in installing a Solar System and would like to know how much money you could save, visit our Solar Savings Calculator here or give Boss Solar a call on (03) 9561 2777.