Why your energy bills could be rising by stealth

Are you paying too much for electricity and gas? Thanks to energy companies’ tendency to introduce rate rises at the start of each financial year in July, the answer is probably yes, especially if you’ve been with the same provider for a while, the answer is probably yes.

The good news is there’s a simple solution to cutting your energy bills and feeling that warm glow of extra cash in your pocket. You just have to compare the rates in your area to see how much you could save.

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Why should I shop around to save money on my energy bills?

When it comes to electricity and gas, staying loyal to one supplier usually costs you more. Energy companies count on customers to be too lazy or time-poor to do the research and switch. 

And it works.

So, we’re sorry to be the bearer of bad news, but if you’re reading this there’s a good chance you’ve already lost out in the energy industry’s game.

This is especially true for loyal customers. If you’ve been with your energy company for years, you could well be paying the Default Market Offer set by the government. That’s the maximum a company is allowed to charge you in regions where there’s no existing regulation.

In addition, Australian energy companies have put up their prices every July for the past two years. It’s news that can slip out, so it’s easy to miss. And thanks to our set-and-forget mentality, your rates could continue to rise and you won’t notice. Although you might get a nagging feeling that your energy bill is a bit too high.

But the worst part of this? According to the Energy Security Board, retail electricity prices are scheduled to drop 7.1% by 2022. That’s a $97 saving for the average household.  

Which is why even the Australia Energy Market Commission is encouraging people to shop around.

Find a better energy deal now

Let’s face it, researching electricity and gas is probably not at the top of your to-do list. So let us do the hard work for you.

Electricity and Gas Comparison can show you how your energy bills compare, and help you find a cheaper deal.

Just a few minutes now could save you plenty down the track. And just like tax, you have to pay your electricity or gas bill anyway, so why pay more?

Simply select your area and start finding out how much you could save.

Many Australians are paying too much for energy and you could be one of them. Compare your bill today – you might be surprised at just how much you could save. 

The power is in your hands.

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Here’s How You Do It:

Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

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This article is opinion only and should not be taken as medical or financial advice. Check with a financial professional before making any decisions.

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