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Australians bulk buy electricity to help easy energy pain costs

March 22, 2018

CASH-strapped households looking to ease energy bill shock are turning to prepaid plans to get ahead of their rising cost of living expenses.

 

 

CASH-strapped households looking to ease energy bill shock are turning to prepaid plans to get ahead of their rising cost of living expenses.

 

Bulk-buy energy deals are trickling into the market allowing households to pay for chunks of energy in advance and also snare discounts for paying ahead.

 

Smaller energy retailer Powershop’s bulk pack is already available in NSW, Queensland and Victoria and big energy retailer AGL recently rolled out prepaid deals for Victorian customers.

 

Analysis by financial comparison website Mozo shows the new AGL offer allows customers to receive bigger discounts for the larger amounts they pay in advance.

 

For instance for customers prepaying $50 they get a $10 credit, while for customers prepaying $100 they get a $30 credit.

 

Mozo spokeswoman Kirsty Lamont said these latest ways to pay could help struggling households minimise the burden of receiving a large quarterly bill while also being rewarded.

 

“These sorts of deals are likely to be something we see more and more of as energy retailers take a queue from the mobile phone industry and start to offer customers the option of prepaying,’’ she said.

 

“They can be a really useful tool for households who have struggled with energy bill shock in the past or scramble to find the money each quarter to pay a large energy bill.”

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