How switching from the Default Market Offer can save you hundreds
You’ve probably heard that you can save hundreds of dollars on your electricity plan by comparing deals; but if you haven’t, we’ve got good news for you. So, maybe you’re one of the many Aussies who just take an electricity plan out with a provider and stay on that plan for years? If not decades? Well, you’re not benefiting from the generous discounts available on electricity plans nowadays.
Just over a decade ago, the electricity market in Australia started deregulating, with the goal of more affordable electricity. It didn’t quite work that way in practice, though; a few major players entered the market, but there wasn’t much competition. So the price Aussie bill payers paid for electricity went steadily up for about a decade. There was a big kerfuffle about this back in 2018, though; so government policy has been steadily working to drive prices down since. In the meanwhile, a ton of new providers came into the market, making it more and more competitive.