The Australian Government has implemented a new rule that ensures that householders are not being overcharged for their energy usage.
The Government has asked the Australian Energy Market Commission (AEMC) to make a new rule forcing energy retailers to tell households when they are on an expensive standing offer.
The new rule will require retailers to contact those customers who have been on a standing offer for more than 12 months and encourage them to consider better alternatives available on the Australian Government’s energy prices comparison service – Energy Made Easy.
Standing offers tend to be the most expensive offers in the market. The AEMC has found the difference between the average standing offer and the best market offer is between $170 and $507 per year. This new rule will help households get a better deal.
Even in South Australia, the state with the lowest proportion of standing offer customers, more than one in 10 customers are signed up to these deals and are paying up to $800 more than necessary.
