AUSTRALIA: How to cut home energy costs by $2000 a year when plugging into lower prices

24/08/2018

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Households can reduce their domestic electricity bills by more than $2000 a year by switching from the most expensive to the cheapest deal on offer, analysis of power prices reveals.

But many consumers stick to the same supplier because they are overwhelmed by the thousands of competing offers and complex small print terms and conditions that can turn a bargain into a budget blowout, it shows.

«The energy market can be eye-wateringly complex, but it doesn’t have to be,» says Linda Przhedetsky, complex markets campaigner for Choice, a not-for-profit consumer group.

«Big regulatory changes are needed to bring down prices and make it easier to find a better offer. But until the government cracks the whip on bad industry practices, people are left with one option, to switch, and switch again.»

FINANCIAL REVIEW

By Duncan Hughes

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