{"id":100567,"date":"2025-01-22T16:26:55","date_gmt":"2025-01-22T05:26:55","guid":{"rendered":"https:\/\/en.econostrum.info\/au\/?p=100567"},"modified":"2025-01-22T16:26:57","modified_gmt":"2025-01-22T05:26:57","slug":"650-cash-bonus-for-aussies-who-make-this-simple-switch-dont-miss-out","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/au\/650-cash-bonus-for-aussies-who-make-this-simple-switch-dont-miss-out\/","title":{"rendered":"$650 Cash Bonus for Aussies Who Make This Simple Switch \u2013 Don\u2019t Miss Out"},"content":{"rendered":"\n

Australians are feeling the pressure of rising cost-of-living expenses<\/strong>, with energy bills ranking among the top financial stressors. New research highlights a simple yet effective solution: switching electricity and gas plans. By making this change, households could save hundreds of dollars annually.<\/p>\n\n\n\n

Potential Savings on Energy Bills<\/h2>\n\n\n\n

According to research by Mozo<\/strong>, switching to the cheapest available plans could save households an average of $419 on electricity<\/strong> and $227 on gas<\/strong>, totaling nearly $650 per year<\/strong>. These figures underline the financial benefits of being proactive in managing energy costs.<\/p>\n\n\n\n

Rachel Wastell, a Mozo<\/a> money expert, emphasized the importance of taking control of energy costs, especially as government rebates like the $300 Energy Bill Relief Fund are set to end later this year. \u201cRebates are nice, but they\u2019re not the long-term fix. Switching retailers is the ultimate power play for securing real, sustainable savings,\u201d she said.<\/p>\n\n\n\n

Loyalty Tax: A Hidden Cost<\/h2>\n\n\n\n

The Australian Competition and Consumer Commission (ACCC)<\/strong> has identified a \u201cloyalty tax\u201d penalizing customers who stick with the same provider. Households that haven\u2019t switched electricity plans in over a year are paying $238 more annually<\/strong>, while those on plans older than two years could pay $317 extra<\/strong> on average.<\/p>\n\n\n\n

ACCC Commissioner Anna Brakey urged consumers to reconsider their energy plans regularly. \u201cIf you haven\u2019t changed electricity plans in the past 12 months, chances are you\u2019re paying more than you need to,\u201d she said.<\/p>\n\n\n\n

Retailers <\/a>often offer the best deals to new customers, making it crucial to shop around for more competitive plans. In markets with competitive energy retailing, families could save between $500 and $600 annually<\/strong> by switching providers.<\/p>\n\n\n\n

Steps to Find Cheaper Energy Plans<\/h2>\n\n\n\n

For those looking to reduce their energy costs, experts suggest:<\/p>\n\n\n\n

    \n
  1. Compare Rates<\/strong>: Use government comparison sites like Energy Made Easy<\/strong> or Victorian Energy Compare<\/strong> to find the best offers.<\/li>\n\n\n\n
  2. Negotiate with Your Provider<\/strong>: Call your current retailer and request a better deal. Providers are legally required to disclose cheaper plans if available.<\/li>\n\n\n\n
  3. Check Your Bill<\/strong>: Every three to four months, energy companies must notify customers if a cheaper plan is available.<\/li>\n<\/ol>\n\n\n\n

    Energy bills remain a significant burden for many Australians. About 44% of Aussies<\/strong> rank energy costs among their top financial concerns, with 15% naming it their number one worry<\/strong>. For a low-usage household, the average annual electricity bill is $1,242<\/strong>, while medium-usage households pay $2,317<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Struggling with rising bills? Aussies could pocket $650 in annual savings with one simple move, but most are missing out. A recent report reveals why loyalty might be costing you more than you think.<\/p>\n","protected":false},"author":5,"featured_media":100571,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"class_list":["post-100567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/comments?post=100567"}],"version-history":[{"count":5,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100567\/revisions"}],"predecessor-version":[{"id":100573,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/posts\/100567\/revisions\/100573"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media\/100571"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/media?parent=100567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/categories?post=100567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/au\/wp-json\/wp\/v2\/tags?post=100567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}