The ACCC says millions of Australians could be missing out on a better deal by sticking with their current energy plan instead of shopping around or asking their provider for a better deal.
As many as four in five households could be paying less for electricity by shopping around or calling providers to ask for a better deal, according to the consumer watchdog. Newly released numbers from the Australian Competition and Consumer Commission suggest the so-called "loyalty penalty" intensifies the longer households wait to switch.
Blackburn stressed great deals "turn into pumpkins after midnight" and recommended noting down expiry dates on bargain introductory offers as a reminder to switch. While efforts have been made to encourage customers to shop around — including making companies alert them when cheaper plans are available — the ACCC found more than a third were still languishing on offers two years or older.
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