Media Release

3 million Australians paying the loyalty tax on their electricity

        • Almost one in four (24%) find electricity one of their most stressful bills
        • Australians could save $296 by switching to a cheaper plan
        • How to score your December electricity for free

14 December 2020, Sydney, Australia – Millions of Australians have not switched electricity plans despite feeling like they're on a bad deal, new research by Finder, Australia's most visited comparison site reveals.

Finder's Consumer Sentiment Tracker, a nationally representative survey of 8,277 electricity users, has found that 18% – equivalent to 3.3 million Australians – have not switched electricity despite thinking they're not getting good value for money.

Previous Finder research has found that Australians find comparing energy plans too complex (18%).

Graham Cooke, energy expert at Finder urges Australians to find a better deal.

"Electricity might be confusing, but you shouldn't let that hold you back from finding a cheaper alternative."

"Don't fall victim to the lazy tax. A set-and-forget mentality could see you paying hundreds more on your electricity each year."

"Time-poor Aussies should download the Finder app, and let us do the comparing for them," Cooke said.

The Consumer Sentiment Tracker also shows that almost one in four (24%) find electricity one of their top three financial stressors.

Further Finder analysis of weighted energy bills across four states (NSW, SA, VIC, QLD) found that a household could save $296 a year on their electricity plan by switching to a cheaper plan.

Cooke said there is money to be saved by switching your electricity.

"Take the time to re-evaluate your plan, especially as the weather warms up and you start reaching for your aircon."

"Australians spend a combined cost of $1.9 billion on aircon usage over the three months of summer alone.

"When you factor in the already expensive electricity bills and the cost of Christmas this can all add up to give you a shocking new year financial hangover."

To help ease the pressure this Christmas, Finder has launched its 12 Days of Switchmas campaign. Every day for 12 days, Finder is paying one Finder app member's December energy bill up to the value of $240.

The contest is free, so get connected today – you may win, but just as importantly, you may find a better deal.

How to go in the running to win free electricity in December

  • Download the Finder app. It's free and available for download on both iOS and Android devices.
  • Register or log in. Sign up for a Finder member account in the app or log in with an existing account.
  • Connect your account. Connect the bank or credit account that you use to pay for your energy bills.

###

For further information

Disclaimer

The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.

About Finder

Every month 2.6 million unique visitors turn to Finder to save money and time, and to make important life choices. We compare virtually everything from credit cards, phone plans, health insurance, travel deals and much more.

Our free service is 100% independently-owned by three Australians: Fred Schebesta, Frank Restuccia and Jeremy Cabral. Since launching in 2006, Finder has helped Aussies find what they need from 1,800+ brands across 100+ categories.

We continue to expand and launch around the globe, and now have offices in Australia, the United States, the United Kingdom, Canada, Poland and the Philippines. For further information visit www.finder.com.au.

12.6 million average unique monthly audience (June- September 2019), Nielsen Digital Panel

Go to site