News

NewsIt's official: switchers can save 100s
It's official: switchers can save 100s

It's official: switchers can save 100s

Tags: Energy Information FiftyUp Club
Last updated by Kayley Harris on
A typical household can now save between $250 and $445 a year by switching electricity plans, a NSW regulator has found. This comes on the back of a national regulator finding in July that Victorians can save 30%, or $500. South Australians can save 18% by moving, and Queenslanders 10%, according to the AEMC.

So if you haven't swtiched yet, or you haven't switched in years, you could be paying 100s of dollars more than you have to. A typical household can now save between $250 and $445 a year by switching electricity plans, a NSW regulator has found.

This comes on the back of a national regulator finding in July that Victorians can save 30%, or $500. South Australians can save 18% by moving, and Queenslanders 10%, according to the AEMC. So if you haven't swtiched yet, or you haven't switched in years, you could be paying 100s of dollars more than you have to A draft report by the Independent Pricing and Regulatory Tribunal (IPART) this week estimated the potential saving from switching.

IPART’s Review of the Performance and Competitiveness of the Retail Electricity Market in NSW 2015-16 found typical residential customers can save between $250 and $445 per year by switching from their retailer’s standing offer to their best market offer. 

Combined with the entrance of 11 new retailers into the market in the past 2 years, iPart says this is proof that NSW is competitive after prices were deregulated in 2014. SA deregulated prices in 2013 and SE Queensland has just deregulated prices too, so hopefully we will see more retailers and bigger discounts there in the coming years.

The AEMC estimates that you can save hundreds in those states already by moving to the best offers. [LINK: http://www.news.com.au/finance/money/costs/aussies-can-save-hundreds-by-shopping-around-for-a-better-electricity-deal-but-many-arent-making-the-switch/news-story/7b625920f1f2b891fed023bec364b8fd ]

But too many households are still paying top dollar. While you can save a lot by switching to the biggest discounts, there are still many of us who stay put out of fear of the unknown, or misplaced loyalty. The FiftyUp Club has just released a range of new, limited-time Group-Discounted offers for members, so take a look if you haven't yet done so.

The new offers have the potential to save between $249 and $517 for an average household, depending on where you live in Australia. You can switch in minutes online, or call the dedicated phone line for our members.

Click Here to see the offers in your area and use the savings calculator on our offer page. [link: https://www.fiftyupclub.com/campaigns/fiftyup-club-energy-2016/energy_plans ]

Originally posted on .

Join the conversation

FiftyUp Club
It's official: switchers can save 100s

Share your views with other members. 

Want to leave a comment? or .
Read our moderation policy here.
Roger and Deonie
Roger and Deonie from NSW commented:

I joined the One Big Switch campaign and signed up with Click after asking them to recalculate my previous bill from Energy Australia. The recalculate saving was about $120. Then after hearing about the Fifty Up Club offer, I again called Click to find out if there was any difference. They said yes and recalculated my bill, this time the saving was even higher, $210. So of course I requested to be put on the Fifty Up Club offer. Energy Australia called to entice me back and I declined, but one thing resonated with me. I was asked if I had gotten the proposed rates in writing from Click. I hadn't. So I called Click again and asked them for the rates, and while speaking to the pleasant lady, I asked her to recalculate my old bill (yes, a third time). Lo and behold, the new calculation was now $30 more expensive than my old Energy Australia bill, and almost $50 more expensive than the new rate offered by Energy Australia! I'm sticking with Energy Australia who at least are upfront about their rates and don't jack them up, only to offer a seemingly 'big figure' discount. 

Kerrie
Kerrie from NSW commented:

Hi I would like to see a combined Electricity & Gas package 

Kerrie
Kerrie from NSW commented:

Hi I would like to see a combined Electricity & Gas package 

robert
robert from NSW commented:

I checked out the electricity offer ..NOT happy.. while the discount rate was good, the initial electricity price being charged, I had to ring them to get details, was HIGHER than a number of other providers.. Providers should advise their electricity rates, then the discount, to get a clear idea of the real net price.. 

Lyn
Lyn from NSW replied to robert:

Robert, I agree with you and into the bargain when one looks closer, daily supply charge rate is 104.90cents per day, 30cents more than my current provider. The variations amongst providers seem implausible for an item that is always identical from whence it came, can't think of any other buyable items (other than gas and water) that are available with identical properties yet has such enormously different net unit price as electricity or gas have. It's bizarre. Other buyable items can be similar but usually have a point of difference affecting price but these 3 do not have any point of difference. 

Comment Guidelines