NSW consumers paying too much for electricity, says Energy Ombudsman
Even though a new breed of electricity retailers are heating up the competition in the Australian energy market, NSW electricity customers are not taking advantage of the competitive deals available to them, according to the New South Wales Energy and Water Ombudsman, Janine Young.
Most residents are still sticking with the big three retailers, Origin, AGL and EnergyAustralia instead of comparing and switching to a cheaper electricity plan, she told the ABC.
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In NSW nearly 30 per cent of people are still on a standard contract, which are generally $200 to $300 per year more than a market contract, said Ms Young.
“People should be shopping around for a better deal, just as they would for health or car insurance,” she added.
"Just ringing up your current retailer, if you're on that standing contract, you will probably save $200 to $300 just by making that call."
According to Mozo’s energy comparison tool, the average quarterly electricity bill for a 4-person household in 2000 postcode is $420 and the cheapest deal you can get in the area is from Covau for $364 a quarter. This means you can make a saving of $224 in a year simply by switching providers. If you’re not sure how the transition from one retailer to the other takes place, read our guide on switching electricity providers.
With summer kicking in, and the aircon taking the load of rising temperatures, it’s a good time to look for ways to save on your energy costs. Start off with our step-by-step guide on how to switch and slash your summer energy bill.