How this algorithm makes your energy bill easier – Algorithm

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2020-06-12 13:56:49

In 2017, power contributed to 3.04 per cent of Australian’s annual household spend, with electricity costs rising by 9 per cent and gas and other fuels by 21 per cent in the previous six years.

As Australia’s energy market continues to fluctuate and transform in response to national and worldwide change, finding the best energy plan is crucial, but it’s just as important to ensure that process is as uncomplicated and accurate as possible.

The release of a new algorithmic-powered system is now making finding the best energy plan easier, more accurate and future focussed. Developed by the Web Geospatial Systems Group at CSIRO’s Data61 using advanced analytics and predictive modelling science, the Australian Energy Regulator-hosted system can now provide bill estimates based on past usage and evaluations of several new pricing structures.

The new system uses data provided by consumers’ unique National Meter Identification number to accurately calculate and estimate usage and billing on another plan provided by a competing company.