A little healthy competition - Why the ACCC wants to exclude big energy retailers
In an effort to put to a stop on the big three energy companies from gaining more market dominance, the ACCC has warned the government to leave the big three out of upcoming energy generation investments.
ACCC chair, Rod Sims, argued that the intention of the proposal was to limit the involvement of the big three in order to encourage smaller players to get into the market and ultimately drive down prices.
"We were creating an opportunity for more competition, we just hope that's picked up by not helping the big three," he said.
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However, Federal Energy Minister, Angus Taylor answered that while the government would not directly exclude the big three, it agreed that a dose of healthy competition was not out of the question.
‘We want more independant players into that market, so we welcome the comments from the ACCC,” Taylor explained to reporters in Canberra last Thursday.
“We’re working through the 66 proposals now, we’ll have more to say about this in the near future, but we are absolutely committed to more competition.”
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But according to Mozo energy expert, Nathan Warne, Aussies looking to trim their energy bill don’t have to wait for a regulation to change.
“There are a number of smaller retailers already giving the big three a run for their money and are offering energy plans with great value,” he said.
So with that in mind, we looked into our database and pulled out a few smaller retailers who offer great value in every state.
New South Wales
Powershop - Shopper Market Offer
Take back the power on your energy bill with Powershop’s Mega Pack. The Powershop Mega Pack plan features a 15% discount if you pay your bills online, no exit fee and the option to have a GreenPower plan. But that’s not all, Powershop are proud to be 100% carbon neutral and won’t charge you a premium for it either. And if you’ve got solar panels, Powershop will reward you with a more competitive deal.
Victoria
GloBird Energy - GloSave
If you’re ready to say goodbye to eye watering energy bills, you might want to check out GloBird energy and its GloSave plan. With GloBird, there are no exit fees or lock-in contracts, so you’re free to leave at anytime. Plus, if you pay on time and use a direct debit, you’ll be rewarded with a 35% discount off your usage and supply. And while there’s no GreenPower option, Aussies with solar will receive a solar feed-in-tariff starting from 10 cents/kWh.
South Australia
Momentum Energy - Smile Power Flexi
Owned by Hydro Tasmania and 100% backed by renewable energy is Momentum Energy. The SmilePower Flexi plan takes the hassle out of sifting through confusing discounts by removing them altogether! You’ll also have the freedom to opt out of your plan whenever you like, as there are no contract terms of exit fees. And if you’re keen to do to your bit for the environment, there’s also a GreenPower option.
Queensland
Energy Locals - Member Promise 2020
If you like the idea of a retailer who gives back, then you need to check out Energy Locals and its Member Promise 2020. Aside from supporting charities and organisations within the community, Energy Locals promises to keep prices capped until 2020. They’re 100% carbon neutral and are massive supporters of solar. And if you’re still on the fence about switching, there’s no trouble, as Energy Locals don’t charge any exit fees and offer free, no obligation quotes.
None of these sound right to you? No worries, just head on over to our energy comparison tool to compare more energy deals.
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