KEY POINTS
- 35% of respondents say they are getting a good deal on their electricity.
- 15% of households have switched providers in the last two years.
- 34% of households have been with the same provider for 10 or more years.
- The average time with the same provider is 8.7 years.
Just over one in three (35%) Australians believe they are getting a good deal on their electricity, new research from Canstar Blue has revealed.
Despite this, loyalty to electricity providers is rife among households across Australia. The Canstar Blue survey of 1,806 respondents in charge of paying their household’s electricity bills, found just 15% of households had changed providers in the last two years, while over one in three (34%) of people have been with the same provider for 10 or more years. The average time spent with the same provider among the respondents was 8.7 years.
These results follow a recent report from the ACCC that found those who switch electricity plans regularly are usually on better priced plans.
Top-rated electricity brands
The research comes as Canstar Blue reveals which electricity providers have been rated best by their customers for satisfaction across a poll of more than 6,000 Australians.
Red Energy took out the top award in New South Wales and Queensland, and Lumo Energy won in Victoria and South Australia, with low rates, flexibility in payment methods and discounts the features customers valued most in their electricity provider.
| Top-rated electricity providers | |
| State | Most Satisfied Customer Award Winner |
| NSW | Red Energy |
| QLD | Red Energy |
| VIC | Lumo Energy |
| SA | Lumo Energy |
Households can save up to $450 a year by switching
Households that keep an eye on their energy plan and switch to a cheaper option when there is one, could save hundreds of dollars per year, according to research from Canstar Blue.
A typical household in Brisbane could potentially save up to $450 a year by switching from the average priced plan to the lowest – the highest average savings out of the six capital cities – while households in Sydney and Melbourne could save $357 and $316 a year respectively.
| Potential savings on annual electricity costs | |||
| City | Average plan cost | Cheapest plan cost | Potential savings / yr |
| Sydney | $1,656 | $1,299 | $357 |
| Melbourne | $1,352 | $1,036 | $316 |
| Brisbane | $1,949 | $1,499 | $450 |
| Adelaide | $2,147 | $1,748 | $399 |
| Canberra | $2,292 | $1,848 | $444 |
| Hobart | $1,269 | $1,131 | $138 |
| Source: www.canstarblue.com.au – 24/02/2025. Based on single-rate electricity plans on Canstar’s database; excluding solar-only plans. Distributors are Ausgrid for Sydney, Citipower for Melbourne, Energex for Brisbane, SA Power Networks for Adelaide, EvoNetworks for Canberra and TASNetworks for Hobart. Annual costs calculated based on the estimated lowest possible price a representative customer would be charged in a year, assuming all conditions of discounts offered (if any) have been met. Representative customer based on the reference usage for NSW, VIC, south east QLD, ACT, and SA (per Victorian Default Offer for VIC, ICRC for ACT and AER for others) or the median usage in the Office of the Tasmania Regulator’s report, Typical Electricity Customers in Tasmania 2022 for TAS. | |||
Compare providers regularly for easy savings
Canstar Blue Research Insights Director Sally Tindall, says, “Electricity prices have gone through the roof over the last few years, and while the government rebates have helped soften the blow, it’s no surprise the majority of households don’t believe they’re on a good deal from their provider”.
“What’s concerning is that just a fraction of households are proactively using the competition in the market to get themselves a better deal, particularly in those states that are flush with choice.
“Don’t set your energy bills on autopilot. The electricity market is dynamic, which means you should be too. With potential savings of up to $450 a year, shopping around could be the relief your budget needs before the government rebates dry up.
“Price is often the primary driver in shopping around for a good deal, however, it’s worth keeping an eye on other features such as payment options and apps that track your energy use.
“Switching electricity providers isn’t like going to the dentist – that is – long and painful. Once you’ve selected your new provider, in many cases all you need to do is fill out a form online and they’ll do the rest for you.
“Red Energy has once again taken out the top gong in our Most Satisfied Customer awards in New South Wales for the 11th year in a row, and Queensland for the second year in a row. The electricity provider rated five stars out of five in almost every single category across the two states.
“In Victoria and South Australia, Lumo took out the award for having the most satisfied customers, ranking five stars out of five for value for money, customer service and ease of sign up.”
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