ACCC Warns Staying Loyal to Energy Providers Costing Over $300 More

‘If you haven’t changed electricity plans in the past 12 months, chances are you are paying more for your electricity than you need to,’ said ACCC commissioner.
ACCC Warns Staying Loyal to Energy Providers Costing Over $300 More
A stock image of a residential electricity bill in Brisbane, Australia on May 15, 2024. AAP Image/Jono Searle
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Australian consumers have been told to actively look for better energy deals this holiday season, as staying loyal to their current providers is costing them more money.

According to a new report (pdf) by the Australian Competition and Consumer Commission (ACCC), National Electricity Market (NEM) consumers who have been with an energy supplier for two years or more are currently subject to a “loyalty penalty.”
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].