Gas price hike melbourne

Momentum advised that my gas prices will go up on Feb 1st. They did not show the % increase just the old and new prices. In fact, depending on which tier, the increases ranged from 18 to a staggering 27%, with the average over 20%. I queried them, which is quite an effort these days with waiting and was told that’s it. The Vic government compare website still shows their old prices and they advised that the retailer has to update closer to the event. I have changed to another supplier, Tango, with prices similar to the old Momentum prices.

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Me too, same day I got the notice about Momentum’s new higher prices. :slight_smile:

I used the Vic energy compare site with 6 historical bills - it is a great resource excepting as you said, it is not always 100% current.

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An irritating aspect to gas increases is that they do not have to be timed to coincide with a meter read. Thus on 17 Jan the utility can announce new prices effective 1 Feb but since the next read might not be until 5 March they have you captive for the month at the higher rates before the new supplier can take the account. Since electricity is starting to normalise on monthly reads in Vic it still needs to apply to those still doing quarterly.

I have commented on this to ESC Victoria.

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It appears that there will be gas price rises across all retailers in Victoria…

Are these prices post 1 February 2022 or pre-February 2022 prices. If they are the pre-February 2022 prices, it may be worth asking Tango what their pricing will be post 1 February 2022.

Tango will honour the sign up price for 12 months

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Yeah good point, a lot of averaging going on. I also think it is unfair that they can still leave their old prices (before Feb 1st) on the Vic Gov compare site (not iselect). The compare site said staff said it is up to the retailer to change their prices but if you didn’t know you could be lulled into signing up with Momentum. The site told me Momentum was the best deal!

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The subsequently linked Canstar report suggested an average annual increase for residential customers of just $20 based on the AER approved increases. Certainly not the large increase observed.

The AER (Australia Energy Regulator) is also responsible for electricity price regulation. Is there something misleading in the AER determination for gas supply in Victoria? Will this be similar for the other regulated markets in NSW, etc?

I’ll be looking closely at our Brisbane NG supply pricing before the annual renewal next month.

My increase with Momentum was claimed as $174 based on my history but my spreadsheet indicated $344. One can always trust the utilities to be straight (as a spring). ESC rang in response to my contact and we had a good chat about timing of increases vs meter reads and other things. I believe they might at least talk about it internally.

The customer notification was sent on 17/1/2022 and checking the compare site just now (21/1/2022) shows the new Momentum rates dated 20/1/2022.

At some point consumers need to take some responsibility and notice ‘rates can be changed any time’ or ‘rates are guaranteed for 12 months’ or whatever is stated.

The Victoria system only allows a single increase a year as far as I know but does not prescribe when and it can be different in any conforming annual moving window for each retailer, but I could not readily find a citation for that so I may be misinformed.

March 2023

Tango advised me of the increase effective 5 April - new annual cost is 172% of the old! After catching my breath a quick ‘dash’ to compare.energy.vic.gov.au and Globird is getting my business as presented as my top offer and confirmed using my spreadsheet with only 144% above my old Tango rates. Variable as most are so will hold my breath but with no exit fees it just requires watching and possibly another ‘trip’ to compare.energy.vic.gov.au when (not if) it happens.

Interestingly the Globird site has multiple gas plans on offer. All but one has ‘Saver’ in the rate name. Guess which is cheapest in virtually all cases unless one uses almost no gas? hint: it is not a ‘saver’ – it is the one without discounts! :roll_eyes:

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Presumably the cheapest will be the controlled default offer, and what are you going to do with the $250 cheque headed your way?. :wink:

Tango just informed m,e with 2 weeks notice of an 80% increase and said I was on their lowest prices. That is highway robbery. Even the daily charge has gone up 13% which has nothing to do with their gas input charges to them.

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I have gone to CovaU which is about 13% cheaper which still means a 67% rate hike for our home. I thought the State and federal governments were going to prevent such gouging as this. Globird turned out dearer for larger houses. How can suppliers just put the prices up 80% with 1 week’s notice and no explanation and just kind regards? Choice what can be done here