Tool to Save money on power bills

The Victorian Labor Government has launched a new tool to help Victorians save money on their power bills, as new figures show that nine out of 10 Victorians are paying too much for electricity.

 

Minister for Energy, Lily D’Ambrosio has launched Victorian Energy Compare with local families at the Cairnlea Community Hub in Melbourne’s west.

 

The new and improved independent price comparison tool lets Victorians enter data online from their smart meter or power bill to find the best offer. (See the Australia-wide energy cost comparison tool from the Australian Energy Regulator at https://www.energymadeeasy.gov.au/.)

 

The average Victorian household spends about $2,800 on energy bills every year, which represents about 2.3 per cent of the average household income and up to about 7 per cent of income for lower income households

 

Government data shows most Victorians could save hundreds of dollars by switching electricity plans.

 

Ninety per cent of Victorians who have compared their offers using the Government’s independent energy comparison tool have found electricity offers that could save them money, with half of the users finding offers that could save them more than $330 per year.

 

The new Victorian Energy Compare price comparison tool replaces My Power Planner. It is the only independent comparison tool in the Victorian market that has every generally available electricity, gas and solar tariff and lets consumers use their own energy usage to find the deal that can save them most on their bill.

 

Despite the fact that regularly reviewing energy plans is proven to be one of the most effective ways to save on energy bills, one in three (32%) Victorians have never switched electricity or gas retailers.

 

Victorian Energy Compare makes it easier for Victorians to review their energy plan and save money, with early trials showing it takes the average user just a few minutes to complete. Victorian Energy Compare can be found at www.vic.gov.au/victorianenergycompare.

 

17 October 2015.