July 1 Is Here: What the Energy Reset and New Solar Sharer Offer Mean for Your Power Bill
The Default Market Offer (DMO) resets today, and for the first time ever, Australian households gain access to the Government's new Solar Sharer Offer which offers three hours of free electricity, every single day.
For most households, this presents an opportunity to reassess your energy plan and make sure you're getting the best deal.
What's Changing on July 1?
- The DMO reset. Each year, the Australian Energy Regulator updates the Default Market Offer which is the benchmark price retailers use as a reference point. When the DMO resets, it can change what ‘competitive’ looks like across the market, and it's a useful trigger for households to check whether their current plan remains the best option for their energy needs.
- The Solar Sharer Offer. For the first time, eligible households across NSW, QLD and SA can access three hours of free electricity each day under this new government initiative. It's designed to help households shift more of their energy use into the middle of the day, when the sun is shining. This is a good option for households that can use timers or scheduling to use power during the day, but it may not suit all households.
Four Things to Consider
The DMO isn't necessarily the cheapest rate available. Here's how to find the plan that's right for your household:
- Review your daily supply charge
This is the fixed connection fee you pay every day, regardless of how much electricity you use. It adds up over a year, so it's worth comparing across providers.
- Check your usage rates
Look closely at what you're charged per kWh outside the free solar window. The rate you pay for the 21 hours outside of the 3-hour free energy window is what will make up most of your bill.
- Understand when and how you use power
Do you run the dishwasher and washing machine in the evening, or could they shift to the middle of the day? Households that can move usage of energy eaters such as washing machines, or pool pumps into the free Solar Sharer window stand to benefit the most. It's worth a quick look at your own habits before assuming the offer will automatically save you money.
- Compare the whole market
Do your research. Head to energymadeeasy.gov.au, the Australian Government's free comparison tool, to see how your current plan stacks up and switch if there's a better fit for your needs.
Click the button below to find out whether Nectr’s energy plans are the best fit for your household.
