Yahoo Finance Save $800 on your energy bill in 10 minutes
If you think your energy bill is too high, you’re not alone.
Since 2009, retail electricity prices have risen 99 per cent, well above the 28 per cent increase in wages over the same period.
However, Aussies could save up to $800 just by switching energy providers, and it doesn’t need to be difficult.
A new partnership between Suncorp Bank and energy comparison platform, Utilizer, allows customers to switch and save on their electricity and gas bill.
While the average residential customer will save $323 on their energy plan a year, some are saving up to $800.
Suncorp customer Charlie Green from Queensland said he saved around $200 a quarter and $800 a year after switching energy providers.
“With domestic power bills almost doubling in the past decade, we saw an opportunity to help customers find ways to easily compare and save on their energy bills. We know Australians are paying some of the highest power prices in the world,” said Suncorp head of customer solutions, Samantha Miller.
Miller added that it will save customers another precious commodity; time.
The tool asks customers to input data from their latest electricity and gas bills before presenting them with a range of the best energy plan options tailored to their needs.
Customers missing their latest bills can also receive an energy estimate after answering a few simple questions.
After the customers’ details are confirmed and they switch providers, the new retailer takes care of the rest.
Energy Australia, AGL, Origin, Power Direct, Sumo, ActewAGL, Powershop and Alinta Energy are among the energy providers available on the platform.
However, the service is currently only available to customers in New South Wales, Victoria, South Australia, Australian Capital Territory and South-East Queensland.
Suncorp said the service is limited to these locations due to government regulations or lack of competition in excluded regions.
Not with Suncorp? There are other options
The Suncorp-Utilizer partnership follows a similar move by consumer group Choice in May this year.
The Choice service, canisaveonergy.com.au allows Australians to upload a recent power bill to find out how much they could save with an alternate energy supplier. However, customers need to pay a $99 fee before the service tells them which provider is the most appropriate.
Once the fee is paid, Choice handles the switch and any future switches within the next 12 months.
The service can net savers up to $1,500, Choice head of media, Tom Godfrey said.
“There are hidden costs with commercial sites. By not giving commissions to energy companies, and charging a $99 annual fee, we are able to put consumers first and give them bigger share of the savings on offer,” Godfrey said in May.
Canisaveonenergy.com.au is currently only available to Australians in New South Wales, Victoria, South Australia and South-East Queensland.
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.
