Its all too familiar that Sydney has a very high cost of living rate and continues to rise each year. In a recent survey, out of the 130 cities, Sydney has been ranked as the most expensive city to l…
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Its all too familiar that Sydney has a very high cost of living rate and continues to rise each year. In a recent survey, out of the 130 cities, Sydney has been ranked as the most expensive city to live in the world! Compared to New York City, living in Sydney was 25% cheaper ten years ago. Now, the cost rose to almost 50%. An example of which is price of a loaf of bread which doubled in a decade, while the gas increased by threefold making it impossible to have cheap electricity in Sydney.
The continuing rising cost of energy is affecting businesses where it hurts, and an innovation is the best way to move forward. Regardless of the increasing demand with electricity and it being flat and projected to fall, prices are becoming expensive. With the combination of the carbon tax and costly network investment that will set to push prices up by 25 per cent this year.The upgrading of infrastructures to service peak demands has cost billions of dollars. The network charges that comprise the electricity bill by around 50% and it is expected to double in two more years.
It is quite a puzzle on Sydney residents on how to save in all areas of their lives and make the expensive cost of living affordable. The increase in prices affects a wide range of services and not just the products; it includes the rent, utilities, food and transportation. For those depending on their monthly paycheques, paying too much on monthly needs is atrocious and cheaper electricity can help.
The rate of electricity also varies with the location. Though Sydney is an expensive city, electricity here is cheaper. Because it cost less to supply a house in a big city compared to the country; there are more residents and distances are shorter thus the costs to supply electricity will be lesser. The type of meter used at home affects the monthly bill. It is either a single-rate meter, which means paying the same price regardless of the use of the electricity, a time-of-use meters known also as smart meters where you pay more for usage during business hours and less in the evenings and weekends and the off-peak meters linked to specific appliances in which a lower price is being paid.
To save on the utility bills, consider the electricity usage. Consumer must do something by comparing electricity prices. It is now being done to save hundreds of dollars on annual power bills. Cheaper electricity and gas can now be attained. By searching it through the net and subscribing to switching process monthly bills will be less in the next months.