Every year, Zembl Energy Experts ride the rollercoaster that is the Australian energy market, helping businesses save time, buy better and improve their bottom lines – and we’ve been doing it for more than 13 years. You could say we’re the energy rate afficionados, which is why we feel it’s our duty to give our small business customers an annual low-down on where energy rates travelled in the year that was. Here’s 2022 vs 2023, an annual comparison.
26% increase in $kWh
In 2022, the average cost per kilowatt-hour (kWh) across all states was $0.24. However, there has been a noticeable price hike to $0.31 in 2023, marking a 26% increase overall. Looking at state-specific data, New South Wales (NSW) and Victoria (VIC) both experienced a 25% increase, while Queensland (QLD) and South Australia (SA) saw a more substantial rise of 31%.*
Avg. energy bill up to $12K+ per year
The $kWh rate hikes translate into significant changes in customers' annual bill sizes, with the average annual bill size creeping more than 20% higher in every state. In NSW, for instance, the average bill rose from $8,882.22 in 2022 to $11,102.83 in 2023. QLD saw an increase from $7,231.36 to $9,085.23, while SA had the most substantial rise from $9,753.67 to $12,511.73. VIC experienced a slightly lower increase, with average bills going from $7,727.35 in 2022 to $9,445.96 in 2023.*
How to beat the curve
While the energy market may seem to have a mind of its own, it's crucial to remember that energy costs are in fact a variable expense – one that businesses can control and reduce with the right strategies and partners. During 2023 we proved that there are significant savings to be made for businesses who don’t accept the status quo and put energy buying in the hands of experts.
Zembl offer notably lower than market
Even with the general market trend of rising energy prices, Zembl managed to offer competitive rates for our customers that beat the curve of averages. Our average cost per kWh across all states was $0.25 in 2022, slightly higher than the overall average. However, our price increase to $0.29 in 2023 is notably less than the general market, marking a rise of only 19% vs 26% in the market at large.*
On a state level, we managed to maintain lower percentage increases as well. In NSW, our rates rose by only 16%, while QLD and VIC saw increases of 15% and 24% respectively. SA experienced a slightly higher rise of 23%, but still lower than the state's overall increase.*
Customers saved a total of $12.1M
During 2023, Australian small business operators who took control of their energy costs and picked up the phone for an energy review with a Zembl expert saved an average of $1585 per year (1) – and a whopping $12.1M combined (2). Zembl was also able to save those businesses time in changing retailers by doing all the legwork and paperwork on the spot.
How can businesses save so much?
When it comes to helping customers buy better, relationships are key. For over 13 years, Zembl has cultivated robust partnerships with top Australian energy retailers. It's thanks to the strength and goodwill of these relationships that we can negotiate successfully, secure competitive deals and out-perform the market – which all translates into money off our business customers’ bottom lines.
Working closely with Australia's leading energy retailers also allows us to access a wide range of energy plans and options and find the perfect fit for each business's specific needs and consumption patterns. Our strong relationships with energy retailers also mean we are often the first to know about new deals, discounts, or packages. This inside information allows us to proactively offer our customers better deals as soon as they become available.
Quality and reliability are also key for businesses, so Zembl only partners with reputable and reliable energy retailers who share our commitment to customer satisfaction and ethical business practices. This ensures that our customers not only get cost-effective energy plans but also receive exceptional service.
The insight of experience
Also key in terms of negotiating power, is time in the game. Over more than a decade, we've seen shifts in trends, changes in regulations, and how these dynamics impact prices. This wealth of knowledge gives us perspective in times of change, and the knowledge to keep a clear head at the negotiating table no matter what twists and turns the energy market brings.
Experience of our business customer’s energy consumption and business priorities is just as important. It’s not just about finding a competitive deal off the shelf. To find the best-fit offer for each individual business, we conduct a full and free energy review. This involves analysing past bills to determine energy usage and costs, then doing all the heavy lifting so that our customers can focus on what they do best – running their businesses.
Save more in 2024 with Zembl
Australian energy prices may have hiked in 2023, but the good news is, businesses can take control and limit the impact of future price increases – by talking to Zembl.
We're here to help you make informed decisions that can positively impact your business' energy costs and, ultimately, its success – whatever happens next in the energy market.
*Figures calculated based on SME business owners who completed an energy review with Zembl in 2022 and/or 2023.
(1) This is the average estimated annual savings for Zembl customers between 1 Jan 2023 - 31 December 2023.
(2) This is the total estimated annual savings for Zembl customers between 1 Jan 2023 - 31 December 2023.
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