As the cost of living continues to be a hot topic across Australia, particularly for those over 60 who are often on fixed incomes, the prospect of energy savings* is more than just welcome news—it's essential. Prime Minister Anthony Albanese has hinted at the continuation of a $1.5 billion emergency energy rebate scheme come July, which could provide significant relief for around five million Australians who rely on these rebates to manage their household budgets.

However, savvy consumers don't need to wait for government intervention to start saving on their energy costs. The energy market is dynamic, and recent trends have shown a promising decrease in wholesale prices, which has led to some power companies offering deals that are significantly lower than the government reference price. These deals are not just marginal savings; they are hundreds of dollars cheaper*, providing a much-needed reprieve for budget-conscious households.

Don’t pay more than what’s necessary. Savings ARE available. Image Credit: Shutterstock

To put these savings into perspective, the Australian Competition and Consumer Commission (ACCC) disclosed late last year that approximately half of Australians were likely paying at or above the government reference price for energy. This means that many are missing out on potential savings. The good news is that there's been a surge in Aussies switching providers (around half a million)*, with the first few months of this year seeing the biggest shift since 2018.

Yet, there are still millions who haven't made the switch and are consequently paying more than necessary.

Recent data from Vinnies has highlighted the growing disparity between the best plans available in Victoria and the reference price, with the gap now at a staggering $725, compared to just $185 a year ago. This indicates that the cheapest plans are becoming even more affordable, and switching has never been simpler*.

For those ready to take control of their energy bills*, here are some practical steps to unlock these secret savings:

1. Compare Plans: Start by visiting comparison websites that can help you find the best deals. Our favourite is Compare Club*. Have your latest energy bill on hand, as it contains essential information needed for comparison.

Why do we trust Compare Club?*

You get the peace of mind that comes with working with trusted professionals who are based in Australia and have years of experience*.

The team at Compare Club* will make sure you have the energy plan you need while paying a price you’re comfortable with*.

So, if you’re sick of endlessly researching energy providers, are looking to save money or simply find a plan better suited to your needs, Compare Club is ready to help*. And if you don’t like the quote you receive from Compare Club*, you don’t have to do anything.

2. Look for Member Offers: Some organisations offer exclusive energy deals to their members. For instance, Kogan First members can access additional discounts, Commonwealth Bank of Australia customers might receive credits with Amber Electric, and NRMA offers a credit deal with Simply Energy (I’m on this last exclusive deal).

3. Cashback and Credits: Keep an eye out for plans that offer upfront credits or cashback deals, which can further reduce your energy costs. Just ensure that these plans are compared against the government reference price to ensure they are genuinely cost-effective (in late 2023, I received $300 off my bill just for switching providers).

4. Stay Proactive: Don't expect energy retailers to hand you the best deals on a silver platter. It's up to you to seek them out and switch to a plan that offers the most savings. That’s where comparison services come into play*.

5. Monitor Changes: The Australian Energy Regulator has indicated that there will be minimal changes to the government reference prices in July. Some regions may see a decrease, while others could experience an increase. Staying informed will help you make the best decision for your circumstances.

Key Takeaways

• Prime Minister Anthony Albanese hints at the continuation of the $1.5 billion emergency energy rebate for around five million Australians.
• Fresh, significantly cheaper energy deals are becoming available, potentially saving consumers hundreds of dollars below the government reference price.
• Consumers are encouraged to switch to cheaper plans*, with the gap between the best deals and the reference price widening, evidenced by Vinnies' new data.

While the anticipated $1.5 billion cash boost is a helpful measure, it's clear that proactive steps can lead to immediate and substantial savings on energy bills*.

By comparing plans*, taking advantage of member offers, and utilising credits and cashback deals, you can unlock secret energy savings that will benefit your household budget.

Remember, the power to reduce your energy costs is in your hands, and help is available.

Don't wait for the government or your current energy provider to make the first move*.

It’s worth comparing your energy plan* to see if you can save money. You won’t lose anything by comparing; you only stand to save*!

Click here to get started and see how much you could save.*

Explore your options, switch to a cheaper plan*, and start enjoying the savings today.

If you have any tips or experiences with switching energy providers, please share them in the comments below. Your insights could help fellow members of the Seniors Discount Club find the best deals and manage their energy costs more effectively.

*Please note, members, that this is a sponsored article. All content of ours that has an asterisk next to it means we may get a commission to write an article or post a deal. We do this to assist with the costs of running the SDC. Thank you!

 

[mylittletibbies]

I am very wary of the Compare Club. I asked not to be phoned but I get calls from them day and night that I don’t answer. They have all different mobile nos that I block but still getting calls over a few weeks . I have rung the numbers back at times so I hear the message that comes up I think if they are that desperate, something is not right .

I never use these compare sites.
1. They don't compare all
suppliers, only the ones
paying them
2. They get paid a commission for every person they sign
up. Hence the constant
phone calls.
You can do your own research on the internet, it's not hard and sure beats being hassled
constantly.

 

[smartie]

It pays to shop around. I was with a "cheap" supplier, my April bill was $185 for 1 month, WITH a $24 solar rebate. I swapped companies and my June bill was $55 for 1 month, with a $14 solar rebate. My swap was thanks to the Compare Club. It truly pays to shop around.

 

[Jest]

TO ALL LABOUR SUPPORTERS YOUR MATE IS A PALESTINIAN LOVE OF YEARS BACK. PROTESTED BACK IN THE 80'S/90'S. THIS IS WHY HE CAN'T SPEAK ON BEHALF OF ISRAEL. HE HAS GAGGED HIMSELF. HE IS A BASTARD OF A PM.

 

[Andrew]

Wouldn't it be nice if every state or the entire country came under one national grid. Everyone would pay the same supply charge, and the rest on the the amount used. Just dreaming.

 

[Rain72]

I don't have any tips for saving other than shopping around and, if you can, installing solar panels. But I find it very disturbing that life is so much more complicated than it was decades ago. We used to ask the local electricity provider to connect and we paid the bill. There was no requirement for ''shopping around'' or bargaining or battling to identify the best deal. Power was cheap, and I suspect that was partly because there was ONE administration office and team and no advertising or marketing required. Now we are paying dozens of CEOS and Board members, multiple sets of meter readers and clerical staff, and funding the operation of dozens of administration buildings and sets of equipment, plus bearing the cost of extensive ongoing advertising and marketing campaigns. No wonder it's become more costly!!
The system wasn't broken, so why change it to make it more complex and costly?

 

[IAN3005]

So of us only have one choice, and that is Ergon @ 34c per Kwh. How much are others paying.

$0.24 per kw Hr not taking into account the govt rebate.

 

[darylfoxcroft]

TBH while energy relief is helpful doing smething about out of control rent increases would have been more helpful. Energy relief does nothing for those who have become homeless because they can nolonger afford the rent. Labor and the LNP contributed to this mess by prioritising the demands of investors (including themselves) over the need for affordable rents.

 

[Phantom55]

kinda reminds me of the old pea and thimble system/trick, ive tried them all and find little difference and those that have any difference only lastsfor1 or 2 bills and then ,surprise surprise there is a new rate for all cos. and the cycle starts again

 

[Clancieblue]

I agree, so many greedy CEOs out there. Just look at the supermarket prices

People have been bartering, since the beginning of time.

 

[IAN3005]

TBH while energy relief is helpful doing smething about out of control rent increases would have been more helpful. Energy relief does nothing for those who have become homeless because they can nolonger afford the rent. Labor and the LNP contributed to this mess by prioritising the demands of investors (including themselves) over the need for affordable rents.

They couldn't give a stuff what goes on at the sharp end.
You realize of course they want this as it is easier to 'CONTROL' People who are close to staeving.

 

[julsmark]

Shopping around is good advise unless you live in North QLD. We only have one option Ergon and they can charge what they like because they have no competition.

 

[Bernice S]

Amidst all the rebates from state and federal governments AGL has just put up its charges by a considerable amount. Looks more like price gouging to me.

 

[Lotty]

I am very wary of the Compare Club. I asked not to be phoned but I get calls from them day and night that I don’t answer. They have all different mobile nos that I block but still getting calls over a few weeks . I have rung the numbers back at times so I hear the message that comes up I think if they are that desperate, something is not right .

I register with them and when they called me I was told call will be recorded. I said I don't want call recorded so they hang up and didn't talk to me anymore. Why do they need call recorded? I don't trust them

 

[IAN3005]

I register with them and when they called me I was told call will be recorded. I said I don't want call recorded so they hang up and didn't talk to me anymore. Why do they need call recorded? I don't trust them

They canrecord as much us they like... they won't be happy with what I have got to say..... so sue me.....

 

[IAN3005]

I'm with NECTR - $.2053/kWhr. I was told to hang onto NECTR as I wouldn't find anything cheaper.

Just went up to $0.37 hr..

 

[NoNoNoNoNoNo]

got any suggestions for WA we have only one electricity supplier as far as I know

 

[Phantom55]

its impossible to compare rates as every account has seasonal usages, to compare rates one would need to go through I full year of all seasons and then switch and then go through another full year to properly compare ...and if not happy go to another company....could take years and the rates change too often, shopping around is just a scam...most of these discounters are not electric/gas companies ..they are BILLING companies...nothing to do with our electricity/gas ...just the invoicing