‘Big 3’ under pressure as Energy Discount War breaks out

Competition is hotting up between power companies and you are the potential winner, with record discounts available

It’s official – we are in the midst of a price war between power companies and Aussie homes are the potential winners with record discounts on offer.

And the 9Saver Power campaign is playing its part in driving competition between the ‘Big 3’ energy retailers and the challengers that are bending over backwards to win their customers.

The Australian Financial Review reports that: “The traditional dominance of the “Big Three” energy retailers – [Origin, AGL and EnergyAustralia] – looks set to come increasingly under pressure as challengers eat into their market share”.

The financial newspaper then mentions three of the retailers who have made special offers in the 9Saver Power campaign as driving forces in the discounting war: Alinta Energy, Click Energy and Powershop.

Click Energy, for example, “recently reported an 18 per cent increase in customers since its $120 million takeover by Amaysim on May 1 last year”.

Alinta’s discounting to win customers has “been absolutely noticed”, Powershop chief executive Ed McManus told the newspaper.

“There have always been really amazing offers from people who are trying to grow and then that eases back a bit and then it’s someone else, and at the moment we’re absolutely seeing it from a couple of retailers,” he said.

All of which means that even though we still have some of the world’s highest power prices Down Under, you can avoid paying them with some of the biggest discounts we’ve ever seen if you shop around.

Even if you shopped around a year or two ago, the discount war means the market has since moved on and you should make sure your plan is still competitive.

9Saver subscribers can get special offers on electricity and gas right now from a range of providers who have improved their best on-market offers for a limited time.

* In highlighting particular offers we are not making specific recommendations as this article does not cover all available products and may not compare all features relevant to you. Any advice provided is general in nature and does not take account of your needs, objectives or financial situation. Individuals should consider their own circumstances, and if in doubt seek appropriate advice, before proceeding.