Australians have been urged to switch energy providers to reduce household expenses, with the Australian Competition and Consumer Commission (ACCC) warning that failing to shop around could leave consumers paying significantly more than necessary.
The warning comes as financial pressure from rising household bills continues to weigh heavily on families, while confidence in the government’s ability to manage the cost-of-living crisis has declined. The latest Mood of the Nation report shows that the share of Australians lacking confidence in either major political party to address the issue rose from 19 per cent in April to 30 per cent in November.
Brian Tyson of research firm SEC Newgate said the figures point to growing concern about the future of the economy. However, Federal MP Kristy McBain said the government has introduced a range of investments aimed at easing pressure on households, while acknowledging that more needs to be done.
National Party Leader David Littleproud stressed the importance of addressing energy costs, noting that energy affordability is central to the broader economy. According to the ACCC, household energy bills increased by an average of six per cent nationwide over the past year, and consumers who stay on the same energy plan for more than three years are paying around $221 extra.
McBain also highlighted that switching providers has become easier than ever, urging energy companies to remain mindful of consumer needs. Meanwhile, mortgage costs remain a major concern, with Commonwealth Bank and NAB forecasting a possible cash rate rise by the Reserve Bank as early as February. Government projections indicate inflation may remain above the target range until June, reducing the likelihood of near-term interest rate cuts.
While reiterating the government’s commitment to easing financial pressures, McBain noted that decisions on interest rates ultimately rest with the independent Reserve Bank of Australia.
