As prices rise, here’s how to cut the cost of your power bills

By now, we’ve all felt it. Energy bills are getting more and more expensive by the month as global forces wreak havoc on coal and gas prices. The relatively low wholesale prices we had during the pandemic are long gone, more than doubling between 2021 and 2022.

And if that paragraph wasn’t grim enough for you, the chief executive of one of the country’s largest energy retailers recently warned prices were likely to rise by another 35 per cent next year.

It’s not a great prognosis for Australians who are already struggling with the rising expense of almost everything else, including food prices, insurance, and mortgages.

Money editor Dominic Powell and senior economics writer Jessica Irvine are hosting the new podcast It All Adds Up.Credit:Dominic Lorrimer

But, as always, there are a few tricks to try when it comes to cutting the cost of your energy bill, which we detail in this week’s episode of It All Adds Up.

This includes Jess’ in-depth research into how practical and affordable it is to install solar panels in your home (spoiler alert: it’s complicated) and our regular plea for listeners to go and claim the various government rebates available for energy bills.

We also detail why Queen’s Bohemian Rhapsody is a bad song to sing in the shower, and Jess introduces us to the money-saving teachings of a distinctly non-French-sounding philosopher.

Have a listen on all major podcast players, including Apple Podcasts and Spotify, and don’t forget to send in questions of your own to [email protected]

It All Adds Up is sponsored by Trilogy Funds.

  • Information given in this podcast is general in nature and is not intended to influence listeners’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.

For more money saving tips and advice, sign up to receive the free weekly ‘Money with Jess’ email here.

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