The cost of keeping the lights on: Aussie households still feeling the energy price pinch
Aussies, young and old, are waiting to feel the effect of new legislation aimed at improving the transparency of rising energy bills as living expenses continue to drain family coffers, according to ME’s newest Household financial comfort report.
The thirteenth edition of ME’s annual report revealed that, although the Household Financial Comfort Index hadn’t declined over the past year (remaining stagnant at 5.49/10), Aussies were reporting significant drops in comfort when it came to paying living expenses.
“Households’ comfort with paying their monthly living expenses fell 3% to 6.40 out of 10 during the six months to December 2017, the lowest it’s been since mid-2014,” said Jeff Oughton, ME consulting economist and co-author of the report.
“In fact, ME’s latest report shows many households’ financial situation is getting worse and again the culprit is living expenses, with 40% reporting this as a key reason their situation is worsening.
RELATED: What can you do to reduce your energy bill?
The report went on to name soaring energy bills as one of the key costs driving the increasing discontentment with living expenses, but Aussies can avoid energy stress by switching to a more competitive offering in the market - in fact, 1.2 million Aussies are keen to make the switch.
If you’re among them, check out our state-based comparison tables to find an energy offer that better suits you or get started by checking out a featured offer available in your state right now.
Queensland
Powershop - Auto Pay with Power Saver
What you need to know
If you're an environmentally-conscious energy customer from the Sunshine state, the PowerShop Online Saver could be the plan for you. An energy retailer committed to wind and hydro energy generation, you will also have the option to manage your energy usage via a range of online tools - including a smartphone app!
Victoria
GloBird Energy - GloSave
- Mozo Experts Choice Winner
- No lock-in contracts
- 35% discount when you pay via direct debit
What you need to know
GloBird Energy is the real deal for residents of Victoria. A Mozo Experts Choice Winner, the GloSave plan leaves behind suffocating lock-in contracts and will deliver a steep 35% discount when you pay via direct debit so you can set, forget and most importantly, save.
New South Wales
Dodo Power & Gas - Residential Market
What you need to know
New South Wales customers have their own budget-friendly Experts Choice Winner to write home about and that’s Dodo’s Market Offer. This plan won in both the Best Value Electricity and Best Value Solar-Friendly Electricity categories, meaning whether you have solar panels or not, you’re on to a great value energy plan. Oh and did we mention, you’ll save 30% simply by paying on time?
South Australia
Momentum Energy - Smile Power Flexi
What you need to know
If you’re a South Australian resident, you deserve a plan that lives up to your home state’s title as the renewables capital of Australia. Enter, Momentum Energy’s Smile Power Flexi plan. This no frills energy plan comes without annoying exit fees or conditional discounts, just straight rates so you can relax knowing your money is supporting the generation of renewable energy.
^See information about the Mozo Experts Choice Electricity Awards
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