The Andrews Labor Government have launched a new online tool for Victorians to compare electricity prices.
Minister for Energy, Lily D’Ambrosio, launched Victorian Energy Compare which lets Victorians enter their data online from their smart meter or power bill to find the best offer.
The aim of the tool is to help Victorians save money on their power bills, as new figures show that nine out of 10 Victorians are paying too much for electricity.
The new Victorian Energy Compare price comparison tool replaces My Power Planner. It is the only independent comparison tool in the market that has every generally available electricity, gas and solar tariff and lets consumers use their own energy usage to find the deal that can save them most on their bill.
Government data shows most Victorians could save hundreds of dollars by switching electricity plans. The data shows that the average Victorian household spends about $2,800 on energy bills every year, which represents about 2.3 per cent of the average household income and up to about 7 per cent of income for lower income households
Ninety per cent of Victorians who have compared their offers using the Government’s independent energy comparison tool have found electricity offers that could save them money, with half of the users finding offers that could save them more than $330 per year.
As well as the addition of gas and solar, the new tool also has an enhanced user interface and improved support for culturally and linguistically diverse (CALD) users and users with literacy or visibility issues.
Despite the fact that regularly reviewing energy plans is proven to be one of the most effective ways to save on energy bills, one in three (32 per cent) Victorians have never switched electricity or gas retailers.