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Australia's trust in energy companies at all-time low

Australia energy
Pacific   The report found consumer confidence has sunk to record low

Australians are losing trust in their energy companies, even more than banks and telcos, according to a review by The Australian Energy Market Commission.


The report found consumer confidence has sunk to record lows, with only a quarter of customers believing the market is working in their long-term interest.

It found many factors have contributed to this, including confusing bills and energy plans - and higher prices.

As a result consumers are increasingly taking matters into their own hands, with a greater uptake of new technology such as the installation of solar panels, and more switching between retailers and plans.

Trust in the energy sector has fallen more than 10 percent, now sitting at a record low of just 39 percent.

Also down is confidence that consumers' long-term interests are being served, sitting on 25 percent.

AEMC also found that if you want to get a good deal - it often requires a threat to switch retailers.

 

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