Why switching providers is the Ultimate Power Play

Key points:

• Australians could save up to $419 annually on electricity and $227 on gas by switching plans. In some states, electricity savings hit $533.
• 44% of Aussies rank energy bills among their top financial stressors, with 15% naming it their #1 worry.
• Australians who have been on the same energy plan for 2 years or more are coughing up an extra $317 annually compared to those on newer deals.
• The Energy Bill Relief Fund rebates are temporarily cushioning households from skyrocketing energy prices, but when rebates end in 2025, higher costs will hit hard.

According to leading financial comparison site Mozo, if you’re not shopping around for the best value energy plan, you could be losing out on hundreds of dollars in annual savings. The Energy Bill Relief Fund is currently providing households with discounts on quarterly bills, but this is temporary, masking the reality of much higher electricity bills.

“Switching energy retailers at least once a year has become the ultimate power play," says Mozo’s money expert Rachel Wastell.

“The Energy Bill Relief Fund has given households a break, but they’re also masking the reality - which is that prices are still high, and the only way to truly save in the long-term is by being savvy with your energy choices.”

"Rebates are nice, but they’re not the long-term fix. While they might seem like a quick win, they’re just a band-aid on a much bigger issue.”

Mozo’s latest Cost of Energy Report 2025 was compiled after expert analysis of 2,334 residential energy plans from 36 retailers as part of the annual Mozo Experts Choice Awards for Energy. 

Mozo’s new report uncovers the huge savings gap between the average plan cost and the cheapest offers on the market. The data revealed that on average, Australians who have medium energy usage requirements could save $419 on electricity annually and $227 on gas bills. In the ACT, the savings were highest, with data revealing up to $533 in electricity and $340 in gas savings annually.

“The thing is, many energy retailers will offer their best deals to new customers, which can leave long-term customers who blindly renew stuck with much higher bills,” explains Wastell.

“That’s why it’s crucial to regularly shop around and switch to a more competitive plan to take advantage of first year discounts.”.

Mozo’s report also reveals that close to half (44%) of Australians find energy bills to be one of the most stressful expenses they face. 

In Mozo's nationally representative survey of over 1,000 Australians, 15% ranked their energy bill as their #1 financial stress, 16% ranked it #2, and 13% placed it at #3 – excluding rent/mortgage repayments.

Don’t Let Your Energy Plan Collect Dust

Mozo’s new report uncovers the huge savings gap between what Aussies are currently paying and what they could be saving simply byswitching to a better deal. Further, the rebates only provide temporary relief and data from the Australian Competition and Consumer Commission (ACCC) shows that most Australians eligible for a better deal are stuck on outdated, expensive plans. 

The latest Electricity Inquiry Report from the Australian Competition and Consumer Commission (ACCC) released at the end of 2024 showed 80% of Aussie energy bill holders (roughly 6.88 million) are stuck on plans that aren’t the most competitive. 

The ACCC data also revealed customers on plans for more than one year paid $238 more, and those on plans for more than 2 years paid over $317 more, on average, compared to customers on newer offers.

"Looking at the data you can see that switching energy providers regularly really is a no-brainer," says Wastell. 

“With rebates phasing out in 2025, now is the time to take control of your energy bills. Take this opportunity to save before the much higher cost of energy is revealed when rebates end.”

"It’s quick, easy, and the savings can be significant. Across Australia - in the markets where energy retailing is competitive - you could save between $200-420 on your electricity bill annually and between $150-$230 on gas.” 

“That $500-600 could be going back into your pocket —why wouldn’t you want to keep it?"

Mozo’s Top Tips to Save on your Energy Bills

• Switch to new offers annually – The best value energy plans are often tailored to attract new customers, so if you can, switch regularly to take advantage of the lowest cost offers.
• Consider time of use plans - According to ACCC data, customers on time-of-use energy plans paid 3.3% less annually compared to those on flat rate plans—tailoring your plan to your usage could lead to real savings.
• Mozo winners make comparison easy: The 2025 Mozo Experts Choice Awards break down the best of the best by state and category, covering Electricity, Solar-Friendly Electricity, Green Electricity, and Gas. It’s the ultimate shortlist to help Aussies compare and save with confidence.

*Notes:   Mozo commissioned a nationally representative survey of 1,024 Australians aged 18 years and over, with information collected between December 2024 and January 2025 via PureProfile.

Mozo reviewed 2,334 residential energy plans from 36 providers to determine the best value plans for Australian households. ACCC data used in the Cost of Energy Report 2025 was sourced from the Inquiry into the National Electricity Market - December 2024. Electricity Index data was sourced from the Australian Bureau of Statistics, Monthly Consumer Price Index Indicator November 2024 .

About the Mozo Experts Choice Awards

The Mozo Experts Choice Awards were established in 2014 to help Australian consumers find the best value offers across a range of products and services.

For the 2025 Energy Awards, Mozo’s experts analysed 3,480 business and residential electricity and gas plans issued by 36 energy providers. Mozo considered products in NSW, Victoria, South Australia, Tasmania, the ACT and the contestable market in SE Queensland covered by the Energex electricity distribution network, where consumers are offered a choice in energy provider.

To access the research methodology report, click here.