Switch wisely and save hundreds on household energy
New website helps Victorian consumers accurately compare electricity and gas prices and easily switch suppliers online.
In a major breakthrough for Victorian consumers, independent service group switchwise.com.au today announced the launch of an online service that allows users to easily compare energy prices and switch suppliers over the internet.
The switchwise.com.au service enables consumers to quickly, easily and accurately compare energy offers from a variety of suppliers and then switch online if they find a better deal.
Since the introduction of retail energy competition in Victoria in 2002, approximately 60% of Victorian households have changed their electricity supplier*. This makes Victoria the most active energy switching market in the world. However, Victorians are not switching wisely - research shows that 47% of Victorians switched supplier based solely on information provided by the retailer, either at their front door, over the phone or by mail, and almost one-quarter of consumers switched without any information at all!
In launching the service, switchwise.com.au founder Shaun Johnson said that an average Victorian household could save up to $203** on their yearly combined electricity and gas bills by switching to a cheaper supplier using switchwise. "At a time of great economic uncertainty, whilst consumers are feeling squeezed by high mortgage interest rates, petrol and food prices, it will be a welcome relief to many to have the opportunity to make significant savings on their energy bills."
Notes to Editors
* Research data sourced from AEMC - Review of Competition in the Gas and Electricity Retail Markets - AEMC 0702 - Consumer Research Report, August 2007
** Savings calculation shows first year's savings based upon the difference between regulated retail tariffs in Victoria and cheapest plans available through Switchwise assuming that the average family has both gas and electricity in their home and consumes 6500 kWh of electricity (all peak) and 60 GJ of gas per year. Savings levels vary depending upon each customer's suburb, meter type and actual usage.
Released: 14 October, 2008