The peak body for energy retailers, the Australian Energy Council, has welcomed new consumer data that shows most households consider their power company is providing them with a value for money service.
The AEC's Chief Executive, Sarah McNamara, said, "Our members have worked hard to improve their offerings to consumers, help them get the best deals and pass on savings.
"The fact that 70 per cent of respondents are satisfied that energy is value for money is extremely positive and represents nearly a doubling in the number of satisfied consumers from three and a half years ago.
"In the past year we have seen lower wholesale prices benefit energy users. We know affordable energy remains top of mind for most people, and our members will continue to pass on cost savings to their customers."
According to the sentiment survey undertaken by Energy Consumers Australia (ECA) nearly half (46 per cent) of all households are confident the energy market is working to their benefit, double the number from three and a half years ago. Surveys are undertaken every six months.
"Energy companies have worked hard to communicate with their customers to encourage them to engage with the market and to highlight the benefits of doing this and seeking out better deals," Ms McNamara said.
"Retailers also continue to work to assist customers impacted by the COVID-19 pandemic through various relief measures. As part of that we have worked closely with a range of consumer advocates to release a Best Practice for Energy Retailer Assistance.
"Regardless of these positive measures and the improvement in consumer sentiment, we will continue to encourage households to engage with their retailer."
About the Australian Energy Council
The Council represents 21 major electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia, sell gas and electricity to over 10 million homes and businesses, and are major investors in renewable energy generation.
