Customers not chasing power deals

NAIVE consumers believe they are getting a good deal on their energy plans and many are just signing up to a retailer because they know their brand.

As households battle soaring power prices a comprehensive study of 4000 Australians reveals a majority – 59 per cent – are “sticky” customers. They believe they are on a good deal with their existing provider.

The data compiled by financial services comparison service Canstar Blue found only 28 per cent of customers have bothered to switch energy providers at least once in the past two years.

The firm’s spokesman Simon Downes said there was a “difference between thinking you’re getting a good deal and actually getting a good deal.”

“Given the recent focus on energy prices I’m shocked that so many Australians are content with what they are paying,” he said. “Unless you regularly compare your options and check how your provider and plan stacks up in the market it’s really difficult to say with any certainty that you are getting a good deal.”

The Federal Government has moved to roll out a default market offer in 2019, capping on what retailers can charge for electricity.