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Victorians more concerned about energy bills than mortgage

Victorians are losing sleep over an easily avoidable financial stressor, according to the latest 2014 Canstar Blue results released on the 16th of January 2015.

 

Home loan repayments have long been amongst the most overwhelming budget consideration for the average Australian, however this study suggests the monthly energy bill is now right up there.

The survey of more than 1000 Victorian households found that 28 per cent of survey respondents consider electricity to be the most concerning household expense, causing more worry than loan repayments.

Further to this, at least three in five Victorians find the process of switching utility providers 'daunting' and place it into the too hard basket, even though it could eliminate a stress from their lives.

Recently appointed Momentum Energy Managing Director Paul Geason said: 'The benefits presented by a competitive, deregulated market have been outweighed by energy providers making it too difficult for consumers to benefit. It doesn't need to be this way.'

According to the 2014 Retail Competition Review by the Australian Energy Market Commission, 50% of residential and 67% of business customers surveyed in Victoria are currently looking, or interested in looking, for a better deal.

Mr Geason said: 'We want to help Victorians start the New Year on a positive note, by empowering them to understand the power is in their hands and that switching providers is easy with Momentum. We are committed to offering Victorians competitive rates, no confusing discounts and our continued award-winning customer service. Everyone deserves this from their provider. It's as simple as that.'

Momentum Energy was recently awarded the Canstar Blue Award, Most Satisfied Customers - Electricity Providers for 2014.

Impressing the judges with its easy approach to switching, value for money, customer service and payment plans, Momentum Energy earned top rating in all categories.

'This is a great start to a year that will be a truly exciting time for Momentum Energy and I am looking forward to every opportunity it brings,' Mr Geason concluded.

About Canstar Blue

Canstar Blue was launched in July 2010 by Canstar - Australia and New Zealand's premier researcher of retail finance information for more than 350 institutions across the financial sector. Canstar Blue releases regular surveys to measure and track Australian consumer satisfaction to help consumers make the best purchasing decisions for their needs.

What are the Canstar Blue ratings?

Canstar Blue researches, compares and rates products and services according to customer satisfaction across categories including banking, telecommunications, appliances, electronics, utilities and fast-moving consumer goods. Results are freely available to consumers who are encouraged to use the ratings as a guide to product excellence. The full range can be seen on the Canstar Blue website.

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