Latest news with #Tindall
9 News
01-07-2025
- Business
- 9 News
Four million households slapped with electricity price rise today
Your web browser is no longer supported. To improve your experience update it here More than 215,000 Australians unable to keep up with their electricity bills could see their situation deteriorate further when the country's biggest networks and providers hike prices for millions of households by up to 13.5 per cent from today. The Australian Energy Regulator's latest report found the number of people in debt from January to March rose by seven per cent from the previous quarter and five per cent year-on-year. The average debt rose to $1415, up by $20 from the last quarter and $309 year-on-year. Energy bill stock photo (Getty Images/Tetra images RF) These households will continue to be hit as energy regulators and providers increase their prices from today. "From today, more than four million households will see their electricity prices rise, which for an average household could add more than $200 to their annual bill," Canstar Blue data insights director Sally Tindall said. The annual cost of electricity for the average household on a default plan in New South Wales, south-east Queensland and South Australia will increase by up to $228 due to changes to the default market price announced by the Australian Electricity Regulator in May. Origin is raising market plan prices by 9.1 per cent in New South Wales, 5.5 per cent in South Australia and 3.1 per cent in south-east Queensland. Meanwhile, AGL is increasing market plan prices by a whopping 13.5 per cent in New South Wales, 7.8 per cent in South Australia and 7.5 per cent in south-east Queensland. Origin customers in Victoria and the Australian Capital Territory, and AGL customers in Victoria, will see the same market plan price increases on August 1. Households will get some relief from the federal government's energy bill rebate extension. (Getty) EnergyAustralia will raise prices in New South Wales, Victoria and the Australian Capital Territory on August 1 and Queensland and South Australia on September 1. Households will, however, see some relief from the federal government's extension of its $75-a-quarter energy bill relief scheme until the end of the year. But, according to Canstar Blue, customers can save even more – between $144 and $390 a year – if they switch from an average-priced plan to the lowest plan on their network. "Electricity price hikes might feel unavoidable, however, switching providers can potentially bring real relief, especially for those who haven't switched providers in more than a year," Tindall said. "Our research shows that if you switch from an average-priced plan to the lowest, you could potentially save over $300, depending on where you live. "That's proper relief, in addition to the extra $150 coming down the line from the federal government." CONTACT US
West Australian
29-06-2025
- Business
- West Australian
From wages and parental leave to battery rebates, here's what's changing for new financial year
Minimum wage, superannuation and parental leave are all set for a shake-up next week as the new financial year is ushered in next week. From how you get paid to how much you'll be charged for electricity, there are plenty of changes in store and PerthNow spoke to two financial experts to break down what it will mean for you. From July 1, those on the national minimum wage will have their pay boosted by 3.5 per cent. The wage will be lifted to $24.95 per hour or $948 per week. About 2.9 million people will benefit from the boost. In Western Australia employees over the age of 21 will see a 3.75 per cent increase to the minimum wage, equivalent to $953.00 per week. Canstar data insights director Sally Tindall said the increase would be welcome but was unlikely to help everyone in need. 'This is a really important increase for those workers on the minimum wage and award wages,' she said. 'The cost-of-living crunch has really hit those on the lowest incomes the hardest, and this increase will help those people keep up with additional expenses. 'It's not a silver bullet ... this increase is incredibly welcomed but for some people it won't go far enough in helping them make the dollars and cents add up month after month.' Along with a pay increase for those making the least, all workers will now have more paid into their super accounts. From July 1, the mandatory minimum payment rate will be upped from 11.5 per cent to 12 per cent. The increase caps off the gradual rise in the super guarantee which has resulted in incremental rises from 9 per cent in 2013. Ms Tindall said the changes would be especially good news for younger people. 'More money will be going into people's super accounts, which means it will take the pressure off Australians when they hit retirement, knowing that they have a decent amount of money in super,' she said. 'It will impact younger Australians the most because they will be on that 12 per cent guarantee for a long period of time and see that nest egg grow. 'Not just from their employers contributions over time but also hopefully from the returns that are generated within the super fund over that time as well.' Expectant parents will be eligible for up to 24 weeks or 120 work days paid leave., if their child is born or adopted from July 1. It is an increase from the previous 110 days, and is part of a four-year move to boost the number of days to 130 by mid-2026. Secondary carers will now have 15 days of paid parental leave reserved for them as part of the total 120, up from 10. Both parents will also be able to take up to 20 days at the same time, up from 10. Those taking parental leave will also now be paid superannuation during their time off for the first time, equal to the superannuation guarantee rate. personal finance expert Sarah Megginson said families were benefitting from multiple changes. 'With the new hourly rate of minimum wage up ... that of course, impacts things like paid parental leave,' she said. 'If you're eligible for paid parental leave, it means that you'll be getting $948 per week for almost six months and you can share that between both parents.' It's not all good news come July 1. From next week West Australian households can expect to be slugged an extra 2.5 per cent for their utility bills. The change was confirmed in the 2025-26 State Budget which indicated that average household would pay nearly by nearly $100 more a year for their water and power. Motor vehicle charges, such as a registration fees and the cost of a driver's license, will increase by a total of 3.3 per cent. The Emergency Services Levy — an annual charge paid by all property owners — will also increase by 5 per cent. Ms Megginson said those doing it tough would not be looking forward to increased bills once again. 'Our bills have just been going up and up and up for many, many years and no one really has the appetite to hear they're going up again,' she said. 'But on July 1 we will see an increase to energy prices and it's not insubstantial. it's a pretty decent price hike and it depends where you live.' West Aussies are set to benefit from two battery rebates at once with the combining of State and Federal initiatives. Synergy customers will be able to claim up to $5000 for a rebate on their battery purchase while Horizon Power customers can claim up to $7500. For households with a combined salary of less than $210,000 they can also access no-interest loans of up to $10,000 with a repayment period of up to 10 years. Ms Tindall said while not everyone could afford to make the investment, the rebates were still likely to boost uptake. 'These battery incentives will help increase the take up of solar batteries and with the State Government combining with the Federal Government I do expect that that will see as a decent boost in WA,' she said. 'It is limited to people who can afford the cost of the battery, even with the rebate, and that to many families will be a difficult expense to have to stump up even with the rebates.'
Perth Now
29-06-2025
- Business
- Perth Now
Five huge changes to WA household budgets coming this week
Minimum wage, superannuation and parental leave are all set for a shake-up next week as the new financial year is ushered in next week. From how you get paid to how much you'll be charged for electricity, there are plenty of changes in store and PerthNow spoke to two financial experts to break down what it will mean for you. From July 1, those on the national minimum wage will have their pay boosted by 3.5 per cent. The wage will be lifted to $24.95 per hour or $948 per week. About 2.9 million people will benefit from the boost. In Western Australia employees over the age of 21 will see a 3.75 per cent increase to the minimum wage, equivalent to $953.00 per week. Canstar data insights director Sally Tindall said the increase would be welcome but was unlikely to help everyone in need. 'This is a really important increase for those workers on the minimum wage and award wages,' she said. 'The cost-of-living crunch has really hit those on the lowest incomes the hardest, and this increase will help those people keep up with additional expenses. 'It's not a silver bullet ... this increase is incredibly welcomed but for some people it won't go far enough in helping them make the dollars and cents add up month after month.' Canstar data insights director Sally Tindall said a number of changes on July 1 would help household's bottom line. Credit: Supplied Along with a pay increase for those making the least, all workers will now have more paid into their super accounts. From July 1, the mandatory minimum payment rate will be upped from 11.5 per cent to 12 per cent. The increase caps off the gradual rise in the super guarantee which has resulted in incremental rises from 9 per cent in 2013. Ms Tindall said the changes would be especially good news for younger people. 'More money will be going into people's super accounts, which means it will take the pressure off Australians when they hit retirement, knowing that they have a decent amount of money in super,' she said. 'It will impact younger Australians the most because they will be on that 12 per cent guarantee for a long period of time and see that nest egg grow. 'Not just from their employers contributions over time but also hopefully from the returns that are generated within the super fund over that time as well.' Expectant parents will be eligible for up to 24 weeks or 120 work days paid leave., if their child is born or adopted from July 1. It is an increase from the previous 110 days, and is part of a four-year move to boost the number of days to 130 by mid-2026. Secondary carers will now have 15 days of paid parental leave reserved for them as part of the total 120, up from 10. Both parents will also be able to take up to 20 days at the same time, up from 10. Those taking parental leave will also now be paid superannuation during their time off for the first time, equal to the superannuation guarantee rate. personal finance expert Sarah Megginson said families were benefitting from multiple changes. 'With the new hourly rate of minimum wage up ... that of course, impacts things like paid parental leave,' she said. 'If you're eligible for paid parental leave, it means that you'll be getting $948 per week for almost six months and you can share that between both parents.' personal finance expert Sarah Megginson. Credit: Supplied It's not all good news come July 1. From next week West Australian households can expect to be slugged an extra 2.5 per cent for their utility bills. The change was confirmed in the 2025-26 State Budget which indicated that average household would pay nearly by nearly $100 more a year for their water and power. Motor vehicle charges, such as a registration fees and the cost of a driver's license, will increase by a total of 3.3 per cent. The Emergency Services Levy — an annual charge paid by all property owners — will also increase by 5 per cent. Ms Megginson said those doing it tough would not be looking forward to increased bills once again. 'Our bills have just been going up and up and up for many, many years and no one really has the appetite to hear they're going up again,' she said. 'But on July 1 we will see an increase to energy prices and it's not insubstantial. it's a pretty decent price hike and it depends where you live.' West Aussies are set to benefit from two battery rebates at once with the combining of State and Federal initiatives. Synergy customers will be able to claim up to $5000 for a rebate on their battery purchase while Horizon Power customers can claim up to $7500. For households with a combined salary of less than $210,000 they can also access no-interest loans of up to $10,000 with a repayment period of up to 10 years. Ms Tindall said while not everyone could afford to make the investment, the rebates were still likely to boost uptake. 'These battery incentives will help increase the take up of solar batteries and with the State Government combining with the Federal Government I do expect that that will see as a decent boost in WA,' she said. 'It is limited to people who can afford the cost of the battery, even with the rebate, and that to many families will be a difficult expense to have to stump up even with the rebates.'
The Advertiser
27-06-2025
- Business
- The Advertiser
Major energy providers confirm price hikes up to 13.5 per cent
Three of Australia's largest energy retailers have confirmed price hikes that could cost families between $31 and $261 per year. The three retailers, Origin, AGL and EnergyAustralia, supply more than 60 per cent of the Australian electricity market and will lift prices between July 1 and September 1, 2025. The announcement follows a decision by regulators in May to increase the default price offers that seek to stop gouging through setting benchmark prices. Prices vary between different states and retailers, and so does when the increases occur. Origin and AGL lift prices on July 1 in NSW, Qld and SA. Origin, AGL and EnergyAustralia increase prices on August 1 in Vic, ACT and NSW. Energy Australia will increase prices in Qld and SA on September 1. Canstar Blue data insights director Sally Tindall said the increases were not what most hoped for and would not be limited to the three major providers. "For the average household, they're looking at price hikes of between $31 and $261 a year, however, for bigger families, they could well be looking at hikes that are double this," Ms Tindall said. "We expect the majority of providers will be hiking their energy rates over the next couple of months on the back of increased network, wholesale and admin costs." The federal government had extended energy bill rebates until the end of in the 2025 budget. Earlier in June, Climate Change and Energy Minister Chris Bowen was set to tell a energy conference that reform to the default market system wasn't working as it was intended and "reform is needed". "It's difficult to defend the DMO when the customer is required to do the deal hunting," the minister's speech said. "The longer expensive coal and gas keep setting the price, the longer bills will be higher than they should be." READ MORE: 'I don't think it's working': electricity bill pricing set for overhaul To find any rebates available to you, visit Three of Australia's largest energy retailers have confirmed price hikes that could cost families between $31 and $261 per year. The three retailers, Origin, AGL and EnergyAustralia, supply more than 60 per cent of the Australian electricity market and will lift prices between July 1 and September 1, 2025. The announcement follows a decision by regulators in May to increase the default price offers that seek to stop gouging through setting benchmark prices. Prices vary between different states and retailers, and so does when the increases occur. Origin and AGL lift prices on July 1 in NSW, Qld and SA. Origin, AGL and EnergyAustralia increase prices on August 1 in Vic, ACT and NSW. Energy Australia will increase prices in Qld and SA on September 1. Canstar Blue data insights director Sally Tindall said the increases were not what most hoped for and would not be limited to the three major providers. "For the average household, they're looking at price hikes of between $31 and $261 a year, however, for bigger families, they could well be looking at hikes that are double this," Ms Tindall said. "We expect the majority of providers will be hiking their energy rates over the next couple of months on the back of increased network, wholesale and admin costs." The federal government had extended energy bill rebates until the end of in the 2025 budget. Earlier in June, Climate Change and Energy Minister Chris Bowen was set to tell a energy conference that reform to the default market system wasn't working as it was intended and "reform is needed". "It's difficult to defend the DMO when the customer is required to do the deal hunting," the minister's speech said. "The longer expensive coal and gas keep setting the price, the longer bills will be higher than they should be." READ MORE: 'I don't think it's working': electricity bill pricing set for overhaul To find any rebates available to you, visit Three of Australia's largest energy retailers have confirmed price hikes that could cost families between $31 and $261 per year. The three retailers, Origin, AGL and EnergyAustralia, supply more than 60 per cent of the Australian electricity market and will lift prices between July 1 and September 1, 2025. The announcement follows a decision by regulators in May to increase the default price offers that seek to stop gouging through setting benchmark prices. Prices vary between different states and retailers, and so does when the increases occur. Origin and AGL lift prices on July 1 in NSW, Qld and SA. Origin, AGL and EnergyAustralia increase prices on August 1 in Vic, ACT and NSW. Energy Australia will increase prices in Qld and SA on September 1. Canstar Blue data insights director Sally Tindall said the increases were not what most hoped for and would not be limited to the three major providers. "For the average household, they're looking at price hikes of between $31 and $261 a year, however, for bigger families, they could well be looking at hikes that are double this," Ms Tindall said. "We expect the majority of providers will be hiking their energy rates over the next couple of months on the back of increased network, wholesale and admin costs." The federal government had extended energy bill rebates until the end of in the 2025 budget. Earlier in June, Climate Change and Energy Minister Chris Bowen was set to tell a energy conference that reform to the default market system wasn't working as it was intended and "reform is needed". "It's difficult to defend the DMO when the customer is required to do the deal hunting," the minister's speech said. "The longer expensive coal and gas keep setting the price, the longer bills will be higher than they should be." READ MORE: 'I don't think it's working': electricity bill pricing set for overhaul To find any rebates available to you, visit Three of Australia's largest energy retailers have confirmed price hikes that could cost families between $31 and $261 per year. The three retailers, Origin, AGL and EnergyAustralia, supply more than 60 per cent of the Australian electricity market and will lift prices between July 1 and September 1, 2025. The announcement follows a decision by regulators in May to increase the default price offers that seek to stop gouging through setting benchmark prices. Prices vary between different states and retailers, and so does when the increases occur. Origin and AGL lift prices on July 1 in NSW, Qld and SA. Origin, AGL and EnergyAustralia increase prices on August 1 in Vic, ACT and NSW. Energy Australia will increase prices in Qld and SA on September 1. Canstar Blue data insights director Sally Tindall said the increases were not what most hoped for and would not be limited to the three major providers. "For the average household, they're looking at price hikes of between $31 and $261 a year, however, for bigger families, they could well be looking at hikes that are double this," Ms Tindall said. "We expect the majority of providers will be hiking their energy rates over the next couple of months on the back of increased network, wholesale and admin costs." The federal government had extended energy bill rebates until the end of in the 2025 budget. Earlier in June, Climate Change and Energy Minister Chris Bowen was set to tell a energy conference that reform to the default market system wasn't working as it was intended and "reform is needed". "It's difficult to defend the DMO when the customer is required to do the deal hunting," the minister's speech said. "The longer expensive coal and gas keep setting the price, the longer bills will be higher than they should be." READ MORE: 'I don't think it's working': electricity bill pricing set for overhaul To find any rebates available to you, visit
Perth Now
20-06-2025
- Business
- Perth Now
Big four bank announces fresh blow to savers
NAB has become the latest bank to move on interest rates, cutting the rate of one of its more popular savings accounts. NAB has announced its Reward Savers account has fallen by 0.05 per cent for a new maximum rate of 4.35 per cent, in the second cut in less than a month. It follows a 25 basis points rate reduction on May 23 in line with the Reserve Bank of Australia's official interest rate reductions. Canstar called it a 'small blow' for savers. NewsWire / Nicholas Eagar. Credit: NewsWire Account holders with NAB's Reward Savers will now get a 30 basis point reduction on their money held in the account. Canstar data insights director Sally Tindall described it as a small blow for savers who are already watching their returns slip away. 'It shows that banks don't need a cash rate change to move the goalposts for customers. It's a small move but a disappointing one nevertheless,' she said. According to Canstar, NAB is not the only bank moving on rates, with Australians now having just six banks offering at least one ongoing savings rate above 5 per cent including some young adult accounts and excluding those for children. 'While the average savings rate on our database is an uninspiring 3.07 per cent, there are six banks still offering an ongoing savings rate of 5 per cent or more,' Ms Tindall said. While each of the savings accounts comes with terms and conditions, including deposits and transactions, BOQ Future Super, BCU Bank Boss, P & N Bank Savvy Savers, MOVE Bank Growth Saver and ING Savings Maximiser all still offer rates above 5 per cent. Westpac Life Spend and Save also offers younger Aussies a 5 per cent savings rate, but comes with the major caveat of being for those aged 18 to 29. NAB announces a small cut to popular savings account. NewsWire / Gaye Gerard Credit: News Corp Australia Ms Tindall warned if the Reserve Bank cuts the cash rate again in July, which the bond market says has an 83 per cent chance of happening, the days of a 5 per cent savings rate could be behind us. 'If the RBA wields its knife again in July or August, savings rates starting with a 5 won't last beyond winter,' she said. 'Term deposit rates are, unsurprisingly, falling faster than at-call savings rates, as banks continue to bake in further cash rate cuts into the fixed rate term. 'If you're someone who likes the certainty and security a term deposit can bring, time is of the essence as these rates are likely to keep on falling in the weeks ahead.'
