Older Australians Can Beat Energy Prices
The energy market has been described as “broken” in a recently published report by the ACCC, which claims that consumers are being charged over the odds for electricity – with many older Aussies unable to afford their skyrocketing bills.
The Australian Competition and Consumer Commission (ACCC) found that the average Aussie household could save as much as $415 per year on their electricity bill when they actively switch and have made 56 recommendations for improving the National Electricity Market following a public inquiry, ordered by the Treasurer.
“It is clear that most households are paying far too much for electricity,” said ACCC Chair Rod Sims, “In addition, some of the most vulnerable in our community are forced to struggle through freezing winters and scorching summers, with many others also having difficulty paying their bills.”
Older Australians pay extra because they do not regularly compare their energy plans and are often on an outdated plan. Electricity is a vital expense for many older Australians, who are doing what they can to save on costs. No matter how diligent you are about turning off the lights and using energy-efficient appliances, sometimes it seems like the bills keep getting higher. Thanks to Econnex comparison service, mature Aussies now have another way to save on electricity, and it could be the most effective method of all.
New South Wales households who have suffered from a loss of income due to COVID-19 may be eligible for a new energy rebate of up to $1,600.
Older Australians should also look into the Seniors Energy Rebate scheme, which offers rebates of up to $200 on gas and electricity bills. While the scheme was made available from the start of April, only 18,000 seniors have since claimed the rebate – 110,000 Aussies are yet to apply.
Learn more about how much you could save on your energy bill by entering your postcode below to compare energy plans in your area.