It feels like everything is so expensive these days, so anywhere you can save a few bucks is worth pursuing. With any ongoing utility plan — phone plans, internet plans, and energy plans — the worst thing you can do is blindly stick with the same provider, expecting some reward for loyalty. In fact, the opposite is true: the best way to save money on your utilities is to sign up with another provider.
Electricity isn’t cheap, so you stand to gain the most by tackling your energy bills every year. It doesn’t take long to compare your options and make the switch, either. With so much of the process available online, you could slash hundreds of dollars off your annual bills by the end of your lunch break.
But how much can you actually save by changing energy providers? It depends on a few different factors, like which plan you’re currently on and where you live. With a bit of guidance, it doesn’t take long to make the switch and keep more money in your bank account.
Dollars saved by changing energy providers
Some of the most recent data comes from the Australian Competition and Consumer Commission’s (ACCC) regular Electricity Market Inquiry reports. According to the ACCC’s December 2025 report, Australian households with average electricity usage could save between $100 and $250 per year by moving to a cheaper energy plan.
To drive home just how much misguided loyalty costs Aussies, the report also found that households on the same plan for three or more years pay $221 more on average each year than those on new plans.
“Loyalty penalties are alive and well in the retail electricity market, so the very best thing people can do to save money is to switch plans – either moving to a cheaper plan offered by their existing retailer or changing retailers,” said Anna Brakey, ACCC Commissioner, at the time of the report’s publication.
Savings differ between states, too. New South Wales households can potentially save $300 per year by swapping to a retailer’s cheapest plan, according to the report.
Perhaps most damningly, nearly 2.5 million Australian households were found to pay either equal to or more than a retailer’s default offer. Also known as the ‘Default Market Offer’, the default offer refers to the price cap energy providers can charge for electricity, as regulated by the Australian Government.
Default Market Offers aren’t necessarily the cheapest, which is why the Australian Energy Regulator encourages people to shop around for the best deal. When signing an initial contract with an energy provider, it’s usually on a temporarily discounted ‘market retail’ plan. Once this discounted period ends, you often start paying a higher price.
The long and short of it is that you should review your electricity plan every 12 months and either change plans or providers to save the most money.
How to switch your energy provider
One of the best starting points is the Australian Government-run Energy Made Easy website. It provides a quick comparison of electricity plans available in your area, and a checklist of information you need.
When comparing energy providers, it’s worth having one of your previous electricity bills on hand. Mainly so you have easy access to your National Metering Identifier (NMI), a number linked to your current connection that can be used to provide precise comparisons based on your energy usage.
The only main drawback to Energy Made Easy is that you can’t lock in a plan switch directly from the site. Once you’ve done your research, various third-party comparison sites, like Econnex, can help lock in a plan change.
If you want to save money, don’t get complacent. Retailers rely on customers not shopping around, thinking it’s too hard to change. In reality, it’s easy to do a quick market check to ensure you’re not getting ripped off.
If you find out that you’re already paying a competitive price, then at least you know for certain. But if that’s not the case, it’s time for change.
GadgetGuy occasionally uses affiliate links and may receive a small commission from purchased products.
The post How much money do you save by changing energy providers? appeared first on GadgetGuy.
0 (mga) komento:
Mag-post ng isang Komento