Lockdown heats up home energy bills: Mozo compares energy providers

• Of the 66% that said their bills had increased in the past 12 months, 27% reported increases between $50 to $100 per quarter
• Mozo’s annual review of energy plans found comparing and switching could save $455 a year off an electricity bill and $204 a year off a gas bill
• Despite the potential savings on offer Mozo found almost a third (31%) of those surveyed have never switched energy providers
• Mozo’s Experts Choice Awards analysed 842 products from 47 residential energy retailers 
• For the second year running ReAmped Energy has taken our Residential Electricity Retailer of the Year award

Mozo.com.au’s latest research has found two thirds (66%) of Australians surveyed reported paying higher energy bills as Covid restrictions saw them spending more time at home.   

It also found that of those Australians surveyed that said their bills had increased, 27% reported quarterly increases of $50 to $100 while a further 14% reported increases between $151 to $200.  

“With many of us subject to stay at home orders throughout the year, one of the hidden costs of working from home and homeschooling is becoming clear as power bills start to bite,” says Tom Godfrey, Mozo Spokesperson.  

The research findings come as the annual Mozo Expert Choice Awards analysis of energy plans found residents in New South Wales, Victoria, Queensland, South Australia and the Australian Capital Territory have the opportunity to make significant energy savings. 

The analysis found that by comparing providers and switching to the lowest price plan, an average household could save $455 per year off their electricity bill and $204 a year off their gas bill. Despite the potential savings on offer, its research also found almost a third (31%) have never switched energy providers.

“If you haven’t compared energy providers in recent times, taking a few minutes to compare plans could be all that’s required to take some of the heat out of your power bills,” Godfrey says. 

To help Australians navigate the often confusing energy market, Mozo’s experts analysed 842 products from 47 residential energy retailers to determine the best value plans. Mozo recognised:

• ReAmped Energy for Electricity Retailer of the Year
• Elysian for Best Value Electricity in NSW, VIC, ACT & TAS and Best Solar Friendly Electricity in ACT and TAS.  
• Momentum Energy for Best Gas Plan in VIC.

Energy saving tips

• Review your energy bills regularly 
• Identify the factors that might be causing them to overheat 
• Compare plans and switch the the best value deal you can find

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Notes: The energy price data is extracted from the Energy Made Easy (NSW, QLD, ACT, SA) and Vic Energy Compare (VIC) sites, and has been used to develop our Mozo Experts Choice Awards Energy winners. For each plan assessed, we use three different usage scenarios (low, med, high) based on the average usage in those states, and perform some average and normalisation calculations. We then take the difference in cost between the least expensive plan, and average energy plan price, to determine a savings figure for each fuel type (electricity/gas) and state combination. Finally, we average the savings across the states for an overall average savings figure.