Review Your Energy Costs and Save up to 20%

Gino FarinaMoney

Compare, Switch and Save with this FREE Energy Comparison Service

Have you reviewed your annual energy costs? Now, more than ever, it is easy to compare energy costs from a range of energy suppliers, and save up to 20% off your bill.

While there are many energy compare and switch services available, I recently used the free service available for both business and residential customers from the NSW Business Chamber, who partners with one of the suppliers. The process lets you compare energy costs in 2 simple steps:

Simply upload your most recent power bill and select a suitable time for the energy experts to contact you. They will call you and do the comparison with you over the phone in under 10 minutes. If you decide to switch, they’ll do the paperwork for you. 

It’s that simple to save!

In the meantime, there are some changes to coming into effect from July. However, these will not cover all business and residential customers. 

NSW, QLD and SA Household Power Bills to be Slashed from July

The Australian Energy Regulator (AER) has developed new base power prices as a safety net for households not on discounted power bill offers, which are known as ‘standing offers’. This will cut power bills for almost 800,000 households across NSW, QLD and SA from July.

Households on standing offers in NSW could now save between $129 and $181, up to $118 for those in south-eastern QLD, and about $171 for consumers in SA. For small business customers on standing offers in NSW, they could save between $579 and $878, about $457 for south-eastern QLD businesses, and approximately $896 for consumers in SA. VIC is bringing in its own regulated price that could cut power bills for around 150,000 households.

This Default Market Offer (DMO) was implemented after an Australian Competition and Consumer Commission (ACCC) electricity review found that retailers offered deliberately confusing discounts and had high standing offers that effectively punished households for not shopping around for better deals.

The DMO is good news for some households. Unfortunately, not all households will receive a cut, so consumers should keep shopping around for the best deals.