This easy hack can save you $$$ on your power bill

Energy is super expensive in Australia. In fact, Aussies are paying among the highest energy rates worldwide, with many states hitting all-time or second-highest energy prices on record in 2019. If you’ve ever opened your power bill and wondered “why is it so ridiculously high?”, you’re hardly alone. In fact, energy prices have been rising for years, to the extent that the Australian Competition & Consumer Commission (ACCC) even got involved.

In 2018, the ACCC released a report calling the national energy market “unacceptable”, “unsustainable”, “uncompetitive”. Worst of all, “unaffordable”. That’s a whole lot of yikes! When energy is unaffordable, homes and businesses suffer, and so does the economy. It makes it harder for businesses to compete. It’s just not fair on hard-working Australians in the Fair Go country.

Things are changing, and you should be saving money

Now, here’s a fact you probably find a bit dull. About a third of the average household power bill is comprised of wholesale energy prices. For industrial power bills, it’s often more. You may be wondering why this matters, right? Well, it’s good news for you. Wholesale electricity prices are going down rapidly, and it now costs less for energy suppliers to keep you in power.

If you’re an Aussie billpayer, that should save you money. The key word here is “should”. But as the AU Energy Minister puts it,

“While it is good to see reductions starting to flow through… we are going to keep the pressure on the energy companies to make sure they keep coming down”

Unfortunately, not all energy suppliers have been proactive about passing these savings on. So the Minister is taking what he’s calling a “big stick” approach to prohibit energy market misconduct. His Government has committed to “delivering affordable, reliable energy” so that Australia’s economy can recover from COVID-19. Who knew that power could be so, well, empowering?

The cheeky power trick hurting Aussie wallets

As you’ve seen, many energy providers are squeezing a lot of profits out of the Aussie billpayer. The truth is, electricity is boring to most of us, and it’s hard to be well-informed about every aspect of our lives: we’d have no time to live! There’s a lot of different electricity providers, and they’re basically offering the same thing: the ability to live in a modern world, turn on the lights, keep your fridge cold… Power’s a non-negotiable, but you don’t want to spend time thinking about it.

Unfortunately, that’s where the default market offer comes in: if you signed up for a discounted energy deal in the last year or two, your discount period may have finished, meaning you’re stuck on a “default market offer” plan. When your discount contract expires, your electricity provider may have placed you on their default (i.e. expensive plan). It’s a bit cheeky: signing you up to a good deal initially, just to charge you heaps once your discount expires (by which time, it’s been a year or two, you don’t remember the discount offer, and every time you get your power bill your jaw drops).

Ideally, you should be comparing energy providers at least yearly to make sure you’re getting the best deal. This can literally save you hundreds of dollars a year. It might sound like a lot of effort, but the good news is: it doesn’t have to be.

Save hundreds on your power bill with just a few clicks

Time is precious, and change is kind of a big deal. You’re probably wondering now whether your energy provider is still the best deal out there for you. But you’re worried that researching the options is going to waste time, right? The good news is, there’s an online tool that does the hard yards for you.

Aussies deserve better than an “uncompetitive” energy market. Things are changing, and with Econnex, an exciting energy comparison tool, so you can get the fair go you deserve.

Avoiding energy shock

Electricity bills are one of the biggest cost-of-living expenses for Aussie homes. It’s not unusual to end up with bill shock. Heating your home in winter, keeping it cool in those blisteringly hot summers… Maintaining quality of life comes with a high price, and that price has been increasing in recent years! If you’ve ever opened your bill and your face has gone like this 😱, then Econnex’s clever energy comparison tool may be the solution that brings you back to this 😄.

How does it work?

Econnex is a no-obligation energy comparison tool letting people compare the plans of household electricity and gas providers. You’ll start by filling in a quick form, including your postcode, approximate electricity usage for a given period, and connection date. Choose your preferred tariff type, and they’ll show you various options.

Unlike some other comparison sites which use confusing star systems, they’ll give you hard dollar-value information, and if you’re ready to make the switch, they’ll begin the transfer process for you. It’s really a very simple way to potentially save hundreds a year.

Econnex is 100% free: no obligation, no calls, no fuss and no worries. They’re here to help you get a better deal on your electricity when you compare energy providers in most Australian states. Head directly to your state/territory info page here:

• Energy comparison in NSW

• Energy comparison in VIC

• Energy comparison in QLD

• Energy comparison in SA

• Energy comparison in ACT

So don’t get analysis paralysis - shop around!

Things to know

There can be quite a few differences in plans depending on how and when you use electricity, so remember to look at things like:

• Tariffs

• Billing periods – monthly, quarterly, or bi-monthly?

• Fees and charges

• Pay on time discounts or benefits

• Standard or market contracts

Before you commit to a plan, make sure you review it in detail; and if you’re not technically minded, don’t worry – they have plenty of help in their system to make it easier for you.

Ready to check out this handy energy comparison tool and see how much you can save? Check out Econnex today!