Chris Ison ROK211015celectricity

1 in 4 homes being ripped off on power costs

POWER is among the most feared of the household bills, but what makes it worse is that you could be paying far more than you should.

The reason? 

When you signed up with your electricity company, you were likely given a great deal to sign up.

Once that offer expires, you end up in the pile with the rest of their customers on their "standing offer", which is just the standard rate they charge for power. And that can cost.

Power supplier comparison site Canstar Blue estimates that one-in-four homes in south-east Queensland are paying too much.

Beyond south-east Queensland, customers aren't able to change providers. Their power is supplied by Ergon Energy, which is subsidised to ensure regional Queenslanders aren't paying more than their counterparts in the city.
 

Canstar Blue

Editor Simon Downes said customers needed to contact their retailer and ask for the cheapest market offer.

"The energy retailers will be more than happy to keep you sitting there paying more than you need to," he said.

"You need to be proactive and ask the question.

"If you don't ask, yous imply won't get.

So much would you save?

If you're with AGL, it could be as much as $222.91 a year.

The most savings come with slimming down your fees with EnergyAustralia -- $285.26 off your bill if you can pay it on time.

"Queensland may not be the most competitive energy market, but there are good savings to be had if you do your homework."

"What this research shows is that you don't necessarily need to switch providers to save money -- you just need to pick up the phone and ask to be put on their cheapest offer."


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