Why pensioners should be shopping around on their energy

A Nine News investigation has revealed pensioners are missing out on hundreds of dollars in savings on their power bills by overlooking, hidden costs.

A snapshot of the energy market has revealed just how little retirees could be paying for their energy.

On Powershop’s Mega Pack deal, customers could pay as little as $1200 a year. Put in perspective, that is only $100 a month, or $25 a week.

With Alinta Energy’s Home Save Plus customers could pay $100 a month. Next on the list are QEnergy’s Flexi Saver Home, AGL’s Essentials, and Energy Australia’s Secure Saver.

AGL is the only retailer that offers a plan catered specifically for seniors, but that plan doesn’t appear on the list of best deals. This proves that it’s always best for households, to shop around.

“People who stick with what they know and stay with the traditional retailer for more than 12/24 months often can be paying 10, 20, 30% too much,” said Ed McManus from PowerShop.

Sadly, power companies are allowing retirees to pour money down the drain. They are failing to save more by comparing fixed supply charges.

80-year-old Marjorie Davison had a lightbulb moment, switching from AGL for the lesser known PowerShop.

“Over the year, I would have saved close to $200. They were really intimidating, trying to get me to stay there and I decided no, I was going,” she said.

Simon Dawes from Canstar Blue said many households have not found the best possible deal.

“We know that about 1 in 4 households in south-east Queensland are on a standard contract, and unfortunately many of those are pensioners and seniors,” he told Nine News.

“The difference between the most expensive and cheapest products out there is hundreds of dollars a year.”

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