Report finds Victorians are paying more for electricity than they should

A new report by the Grattan Institute has found Victorians are paying around $250 million more a year for their electricity, than they should.

Speaking to Neil Mitchell, Energy Program Fellow at the Grattan Institute, David Blowers, said if you are not on a good deal you are getting ripped off.

‘If you are on the worst deal available in the market, you are probably paying something in the region of $350-$400 more, that’s quite a significant amount.’

Mr Blowers said there are at least 200,000 Victorian households that are paying that amount.

The report found the way electricity retailers advertise their discounts is complicated and confusing, resulting in many consumers just giving up.

‘I think a lot of people don’t understand exactly what they’re paying’

Mr Blowers believes governments should step in and re-regulate electricity prices if the current trend does not change.

‘It’s about making things easier for people…they should make sure that, where possible they can make the market work as best as possible.’

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