‘Loyalty tax’ costing households billions in missed energy savings

Australian energy retailer Nectr is throwing a lifeline to thousands of NSW households struggling to pay their energy bills, introducing one of the most competitive energy deals on the market in the state.

The new energy plan, Nectr Home Buzz, is delivering much-needed energy relief for households through competitive energy rates, simplified billing and optimised energy usage for lower power bills.

Australians are stumping up over $4 billion in energy 'loyalty tax' each year for failing to shop around to find the best energy deal available. In fact, 80% of Australian households are missing out on savings of 17% or more by remaining with their existing provider.

Nectr says that now is the time for energy users to take a closer look at their energy plans and shop around to start saving.

"As we head into summer, when energy usage tends to spike, every household should be reviewing their power bills to determine whether they are on the energy plan that suits their usage needs," says Hayden Barry, Managing Director at Nectr.

"From the outset, Nectr entered the Australian market to clean up energy to give every day Australians access to affordable energy, and our new Nectr Home Buzz plan is designed to do just that."

Nectr Home Buzz ranks in the top 3 most competitive energy deals in NSW and offers:

●      Competitive energy rates to help households reduce daily energy costs

●      Simple and easy-to-understand pricing

●      Monthly billing to manage budgets

●      Easy-to-use tracking tools to empower users with energy insights

●      Online account management for complete transparency

The 'loyalty tax' is costing households hundreds of dollars each year, with energy customers paying over $200 more per year for remaining on an energy plan for more than a year, and $300 per year for staying loyal to their energy provider for two years or more.

In NSW, customers stand to save over $250 annually, just by switching to a typical market offer.

"The changes in energy pricing as of July 1 are just starting to hit the purse strings of many Australians. At Nectr, we encourage energy users to review their power bill, give us a call to see if Nectr Home Buzz fits their energy needs, and give it a try.

"We're committed to bringing affordable energy solutions to Australians and are proud to have Nectr Home Buzz ranked among the top 3 best energy deals on the market for people in NSW, with plans to extend that lead in other Australian markets," said Hayden Barry, Managing Director at Nectr.

For more information about Nectr Home Buzz, visit https://nectr.com.au/nectr-home-buzz/

For more information, or to arrange an interview, contact Blue Planet Public Relations:

Maria Crema - maria.crema@blueplanetpr.com.au or +61 402 239 929

Sophie Blue - sophie.blue@blueplanetpr.com.au or +61 416 006 821

More about Nectr

Nectr is an Australian energy retailer that is committed to delivering affordable, cleaner, greener energy solutions for Australians. Nectr offers solar, battery and energy bundles and Clean Energy Council certified installation. In 2023, Nectr was recognised with Finder's 2023 Customer Satisfaction Awards in the 'Electricity - QLD' category. In 2022 Nectr ranked among the top 10 greenest energy retailers in Australia according to Greenpeace's Green Electricity Guide, received the inaugural Canstar Blue Green Excellence Award - Energy, Canstar Blue's Outstanding Value award for electricity plans in Queensland and was a finalist in Finder's 2022 Customer Satisfaction Awards Energy 2021/2022 for Best rated electricity provider in NSW and QLD. Nectr is backed by Hanwha Energy, a global leader in renewable energy solutions. The Hanwha Group has committed to over AU$5billion investment in eco-friendly initiatives to achieve net-zero by 2050.