Rising interest rates, rising inflation and rising energy costs. With many business owners forced to scrutinise every line item in their budgets, reviewing your energy bill could be a way to proactively reduce costs.
“It’s true that energy prices are going up,” says Edan Shelley, manager of Zembl’s new First Bill Campaign, “but we’d say: don’t just cop the full increase until you check to see what else is out there.”
We interviewed Edan to find out what’s behind the First Bill Campaign and how it can benefit your business.
What prompted the First Bill Campaign?
Most SME business owners are aware that the cost of energy in Australia has reached unprecedented levels this financial year, with the country’s energy regulators approving retail price increases of between 14.7% and 28.9%, depending on the state, effective from 1 July 2023.
Many owners are unaware, however, of how the increases are already impacting their business budgets.
“A lot of small to medium-sized businesses are on quarterly bills,” explains Edan, “so if you miss your rate change notification for three months, you’re going to be paying an increased rate all that time without knowing it.”
While all energy retailers had to let their customers know about planned rate increases before July, some customers may simply have missed the notification.
“If you’re a residential customer, you get the notification in your personal emails, so it’s easy to see. But some businesses set their notifications up under an ‘accounts payable’ email, or some other sort of generic email address, belonging to someone who might have even left the business. So, at the end of June, the rate change notification could have gone into that inbox, and nobody is aware of it.”
The First Bill Campaign is all about increasing awareness of potential situations like this and helping businesses beat the price rise by proactively shopping around for a better plan – before they’re surprised by their first bill of the new financial year.
How can the Campaign benefit your SME?
Energy price standards like the DMO and VDO set a ceiling on the maximum rates retailers can charge for electricity. But they aren’t the sole factor determining retail prices.
“No matter the wider conditions, certain retailers find a way to offer their customers a better deal than the competition,” Edan says. “Some will put their prices up to the DMO and VDO reference points, and others will take them up even higher. But there are some retailers who won’t go as high as those reference points, and if you’re with a retailer like that, it can save you a lot, even over a couple of months.”
The key to achieving those potential savings is to get in early and make sure you’re on the best plan possible now.
“How much you can save depends on your state. Some retailers’ plans are coming in around 10% below the regulators’ price standards, others are just a couple of percent below. The easiest way to find out what applies to you is to talk to an expert who knows the market.”
If SME owners are interested in finding out how the First Bill Campaign could benefit them, what’s the best way to proceed?
“It’s easy,” Edan says. “Jump on our website and speak to one of our Energy Experts. They’ll guide you through the process from start to finish.”
At Zembl, our Energy Experts can help you determine the best plan for your business needs.
If you choose to make the switch as part of our first Bill Campaign, you’ll potentially save hundreds – fill out the form below to make an obligation-free enquiry.
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