Competitive energy deals still the best value for consumers

Competitive energy deals continue to provide the best value to households, the energy industry said today.

The Australian Energy Council General Manager, Sarah McNamara, said any moves to re-regulate the market will simply lead to less competition and ultimately lead to higher prices.

“The higher prices being paid by Victorian consumers currently are largely the result of higher wholesale costs due to factors like the closure of power plants.

“The energy industry has - and continues to - work with the Essential Services Commission, Australian Energy Regulator and governments to find ways to improve things like hardship support for customers, simplification of energy price information and ways to compare the different offers.

“There are a broad range of electricity offers available, and as with any consumer good, discounts are offered in marketing these deals. Ultimately, like any other good, energy consumers should be guided by the cost of each deal and whether the deal suits their needs.

“Governments provide cost comparator websites to help consumers, such as Energy Compare in Victoria. These show the full cost to consumers of each offer from different retailers – with and without the discounts.

“The key is to shop around and consider what suits you best and determine the ultimate cost you are likely to pay – which is where comparison websites can help.”

About the Australian Energy Council

The Council represents 21 major electricity and downstream natural gas businesses operating in competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia and sell gas and electricity to over 10 million homes and businesses.