Energy Prices are Down but Victorians Could be Saving Even More

Energy prices have crashed by up to 16% in Victoria over the last two years, new analysis from Canstar Blue shows. But relatively few households are really taking advantage.

The research found that Victorians are now saving between $211 and $253 a year on average energy costs compared to July 2019, depending on where in the state they live. However, the vast majority of bill-payers are not connected with one of the cheapest providers.

The notable savings have been made possible by favourable wholesale conditions, as well as fierce competition in the retail market, with at least 25 providers for Victorians to choose from. This has led to a reduction in the state’s regulated price cap, the Victorian…