80% of Aussies are overpaying for energy. Here’s how to pull the plug on loyalty tax

If you’ve ever felt like your electricity bill is written in a secret code, you’re not alone. Between confusing charges, seasonal rates, stepped pricing, and “loyalty” penalties for not switching, keeping up with energy costs can feel like a full-time job.

But here’s the kicker, the ACCC’s latest electricity inquiry found that more than 80% of Aussie households in the National Electricity Market (NEM) could be on a cheaper energy plan if they shopped around or simply called their provider. That’s a huge number of people paying more than they need to, just for staying put.

So, how do you beat the system without turning into a Mozo Energy Analyst? Here’s the lazy person’s guide to dodging the loyalty tax:

Step 1: Check your current plan
Your bill holds the key to potential savings. Many providers lure customers in with introductory offers, then quietly hike prices once the deal runs out. If your discount has vanished, so should your loyalty.

Step 2: Compare and switch
Armed with your most recent bill,  jump online and plug in your details so that you can get an accurate estimate from providers that are available in your area.  Some of the most competitive energy plans aren’t widely advertised, so doing your own search could unlock serious savings.

Step 3: Set a yearly reminderLoyalty tax sneaks up on those who aren’t paying attention. Set a calendar reminder every 12 months to review your energy plan. That way, you’re always one step ahead of price hikes.

You don’t need a degree in electricity pricing to stop overpaying. Compare energy plans now and see how much you could save.