The ECA reported in December 2017 that over a third of customers have never switched their energy provider. Most energy companies have their benefit period as 12 months after which no discounts would apply to your usage and supply charges. As only 23% of NSW residents switched their energy provider in 2017-2018 which makes it official that most of us are not paying enough attention to our energy bills and hence bearing the high cost.
Prices have been on the rise, and the price gap between standing and market offers is significant. There are bargain offers available that provide great value to those who know how to find them.
Rod Sims Australian Competition and Consumer Commission chairman told media “We know that consumers and businesses believe that they are paying too much for electricity,”
“There’s a lot of burden on low income-people particularly with the level of their electricity bills.
“The bottom 10 percent of the population are probably paying twice the percentage of their disposable income for electricity. Some people can’t afford electricity.
“Some businesses are putting off staff. I have no doubt businesses will close down as a result of high electricity prices.
“It’s been building for ten years.
Electricity prices in Australia have more than doubled after inflation for over ten years. Sim Says “The good news is there is now a focus on electricity affordability.”
The inquiry will include the cost of electricity generation, which has come under attack over claims the concentration of state-owned generators has “gamed” the system to prop up the State Budget — pushing up prices in the meantime.
Despite these ever-rising costs, only around 1 in 5 people decide to switch suppliers. HOUSEHOLDS could be paying as much as an additional $1500 a year on electricity because they are stuck on the worst deal.
— Grab a copy of your current bill.
— Use comparison websites to compare prices like Econnex.
— Look at the supply and usage charges.
— Phone a retailer and negotiate.
— Give details of your latest usage to make a comparison.
— If you switch to a new retailer, we will do all the work for you.
— You can receive extra discounts by signing up for direct debit payments.
Alternatively, use our service to know how much you could be saving. Our services make it easy to get a better deal in just a few minutes. We will search for a better deal from our range of providers. With more 20,000 people searching for a better deal on our website, our tool makes energy shopping quick, easy and simple.