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Electricity bills have now surpassed groceries as the most pressing cost-of-living concern for Australians.
According to recent findings from iSelect, a leading comparison website, a significant 86 percent of Australians are anxious about their energy bills. More than half, 57 percent, regard electricity as their primary expense, overtaking groceries at 52 percent and transport at 44 percent.
Sophie Ryan, a comparison specialist, highlights that electricity costs continue to dominate people’s thoughts as they grapple with persistent financial challenges.
She observes that many households are intentionally adjusting their daily energy consumption, with even minor changes accumulating to make a noticeable impact over time.
This trend of small yet widespread adjustments reflects a growing determination among people to regain control over one of the few expenses they feel they can manage.
Ryan also says that comparing plans is one of the simplest ways to reduce costs, but it’s often delayed or overlooked.
“Latest numbers from the ACCC show 73 per cent of people with the potential to switch continue to pay more than they need to for electricity.
“If you’re in that majority, it might be time to compare plans. On average, households that had been with the same provider for three or more years paid $221 more than people on new retailer offers,” she explains.
For those willing to take a closer look, there are practical ways to ease the pressure without overhauling daily routines, according to iSelect.
Default market offers aren’t always the most competitive, meaning households who take the time to compare plans may find better value elsewhere.
It’s also worth keeping an eye on your plan over time. Retailers are required to flag changes to rates or expiring discounts, and those moments can serve as a useful prompt to reassess whether you’re still getting a good deal.
Payment structure can make a difference too, with some providers allowing bills to be broken into smaller, more manageable instalments across the year – helping smooth out seasonal spikes and reduce the shock of a large quarterly bill.
Savings may also come from how you pay – such as on-time payments, online account management, or direct debit – though these offers may expire after a year or two.
The most important tip, however? Shop around.
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