Energy illiteracy stopping Australians from cutting power bills

A lack of trust in electricity retailers and energy illiteracy is slowing Australians in driving down their power costs.

Rising power bill prices have changed the way
 many Australians are consuming energy.

A survey carried out in April of more than 1000 people in Sydney and Melbourne found people had less trust in power companies to act in the public interest than both banking and the media, and they want electricity companies to provide them more information to help control energy usage but don't know enough about the technology available to help themselves.

Read Cole Latimer’s story from The Age - “Energy illiteracy stopping Australians from cutting power bills.”

New retailers pushing power prices down more than government

Competition from a new major energy company is driving down power prices faster than regulatory bodies according to analysts, but governments are unlikely to abandon plans to reform the gas and electricity market.

More consumer choice in the market is having a greater impact on power prices.

Perth-based energy company Alinta expanded into the east coast energy market with the billion dollar acquisition of Victorian coal-fired power station Loy Yang B late last year, and its aggressive growth strategy is being seen in the market as one of the major drivers of lower power bills.

“Alinta is doing more for lowering electricity costs on the east coast than anything the Australian Competition and Consumer Commission will do,” Wood Mackenzie principal lead for oil and gas, Saul Kavonic, told Fairfax Media.

Read Cole Latimer’s story in The Age - “New retailers pushing power prices down more than government.”