ECONNEX

Elderly: Typical Victims Of Expensive Bills

Elderly often vulnerable to high bills. Let's support our seniors with financial guidance and assistance for a secure and comfortable life.

Victims Of Expensive Bills

Published on 21/12/2023

By Rafiya Azhar

Energy Comparison

Australia’s energy market is all about competition. The contest of being “the best energy supplier” is continuously ramping for the past years. Many User takes benefit of this and shops around whenever they can. However, there are still some who remain loyal to their provider and suffer expensive bills. 

Three big energy regulatory bodies have found that a user can save up to $1,500 a year by simply switching from the worst available plan to the most competitive one. These regulatory carcasses include

  • Australian Competition and Consumer Commission (ACCC) – they protect, strengthen and enhance the energy competition in Australia’s market.
  • Independent Pricing and Regulatory Tribunal (IPART) – they provide independent regulatory decisions and advice to protect and promote the ongoing interests of the consumers.
  • Australian Energy Market Commission (AEMC) – they make and revise energy rules and provide advice. 

Not just these three regulatory bodies, even Prime Minister Malcolm Turnbull said that around 2 million Australians pay much higher electricity bills because they’re stuck on expensive contracts. 

In addition to this, they find out that the common victims of expensive bills are Australians aged 50 and over. These consumers find switching suppliers too difficult. That’s why they are likely to stay with their existing supplier for years despite continuously rising rates. 

Why some elders do not consider switching? 

  • Too many jargons

All professions or subjects have technical language. Confusing terms such as fixed and variable, watt, distributor, and many more are hard to understand by most elders if not explained well. Unless, if the consumer is an electrician. 

  • Lengthy terms and conditions

Terms and conditions in switching provider must understand well by elders before he completely switches provider. Or else, it may result in a serious problem in the future. The problem is most elders easily get bored understanding lengthy messages. 

  • Easily annoyed on phone calls

Elders prefer emails to phone calls. They prefer to do things at their most convenient time instead of talking to the sales representative for about 30mins to 1 hour. 

  • Unavailability

Our grannies love doing nothing except drinking tea and barbeques. One of their concern, too why they are hesitant to switch providers, is the field technician that they need to wait to come to their home. 

  • Limited knowledge of the energy market

Not all elders are tech-savvy. They find it difficult to do their own research on how to switch providers. They prefer to stay with known providers for quite some time instead of switching to others to avoid hassle on their part. 

How to solve the problem? 

We know that everyone must pay a considerable amount on their electricity bill but We are here to help consumers from comparing plans to switching retailers. No need to be a market expert, just grab a chair, follow these easy steps and break the curse of paying expensive bills. 

Step 1: Visit www.econnex.com.au

Step 2: Provide needed information such as postcode, address, type of services, etc.

Step 3: Compare the plans. Econnex shows all the available plans and retailers in your area. Do not miss to check tariffs, billing period, charges, and discounts before deciding.

Step 4: Switch on the spot. Anyone can switch providers at their most convenient time. 

Now, our elders can also enjoy the benefit of switching without leaving their homes.

Energy Comparison
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