SwitchedOn podcast: Electricity plans should be as easy as ordering Uber

Electricity prices have risen again across NSW, South Australia and South East Queensland following the latest default market offer increase.

But some retailers are imposing much higher increases, narrowing the gap on the supposed “safety net” and in some cases charging even more than the reference price. Why is this happening, and why is it so difficult to get a better deal?

Professor David Byrne, the Ritchie Chair of Economic Research at the University of Melbourne, explains how a handful of dominant retailers exploit consumer inertia and lack of transparency to maximise profits, and why even well-intentioned regulation has struggled to deliver truly fair prices.

He also shares the results of a unique undercover experiment using professional actors to negotiate with energy companies — revealing just how much you can save if you know how to ask.

And he lays out a bold vision for market reform, where the onus is no longer on consumers to endlessly compare plans, but instead on electricity companies to compete for us. What if getting a fair electricity deal was as easy as tapping a button, like ordering an Uber?