By Sophie Ryan, iSelect Comparison Expert
In the aftermath of this year’s Federal Election, one thing is clear: energy prices are no longer just a household concern — they’re a political one, especially for younger Aussies. With rising living costs across the board, energy affordability emerged as a key issue, with younger voters demanding greater action on both cost-of-living relief and long-term climate and energy policy.(1)
New research from iSelect highlights just how heavily rising energy bills are weighing on younger Aussies — particularly those managing their own household expenses for the first time. With the average electricity bill reaching $2,236 in 2023–24 and draft guidance suggesting increases of up to $200 from July 1, many young renters and first-time bill payers have quickly discovered that staying loyal to their parents’ provider may be costing them more than they realised.(2)
Despite the financial pressure, a surprising 43% of Aussies say they have either never switched or haven’t switched their energy plan or provider for more than five years — with older Aussies (55+) the most likely to fall into this group.(3)
Sophie Ryan, Comparison Expert at iSelect, says that for younger people already juggling rent, transport costs and rising grocery prices, increasing energy bills have become a defining financial pressure.
“The younger generation has the least disposable cash, so they shouldn’t be paying more than they have to, especially when there could be a better deal out there,” she said.(4)
“Ahead of the election, cost-of-living topped the list of voter concerns, with our pre-election survey revealing that more than half (51%) of Aussies ranked it as their number one issue. Energy and other utility costs were also among the most pressing household expenses.”(5)
“The issues of energy and climate were certainly felt at the ballot box. In many marginal seats, parties that failed to adequately address energy affordability or climate action struggled to resonate with younger voters — a group whose voices are growing louder and more influential in national conversations.”
For many young people, energy concerns extend beyond just bills. Sustainability, transparency, and renewable energy are also front of mind, and the election reinforced that younger voters want policies that not only ease financial pressure today but also invest in a cleaner, more sustainable future.(6)
The good news? Awareness is growing. According to iSelect’s survey, 76% of Aussies who switched energy providers and/or plans in the past two years saved money. More than half (62%) of those switchers estimate they’re saving over $100 a year, more than a third (34%) say it’s over $200, while 15% claim to be saving more than $500 annually.(5)
Sophie acknowledges that while election promises including further energy rebates were welcomed, they may not address the long-term challenges that young Aussies face.
“Energy rebates are a step in the right direction, but I’d encourage Aussies to get on the front foot and see if they can save money and find a better deal now,” Sophie said.
For young Aussies looking to ease the strain of higher energy bills, iSelect offers some post-election tips:
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Don’t ‘set and forget’ — regularly review your plan and check when discounts may expire
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Watch out for hidden fees — some lower-rate plans come with exit penalties or peak-time rates
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Look out for flexible payment options — some providers will allow you to ‘bill smooth’ to help you avoid seasonal bill shock.
As energy affordability remains high on the national agenda, the Federal Election has made one thing clear: younger Aussies are shaping the future of policy through their votes, and they’re expecting meaningful, lasting change.(7)
About iSelect
At iSelect, we’re passionate about making Aussies’ lives easier by saving them time, effort and money. We are Australia’s go-to destination for comparison across insurance, utilities and personal finance products made available from our range of providers. Our service is provided at no cost to the customer.
Disclaimer
iSelect does not compare all providers in the market or all policies offered by our partners in your area. Not all policies or special offers are available to all customers and some may only be available over the phone or on the website.
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