9 Energy Comparison Myths Keeping Money Out of Your Pocket in 2026

Everyone talks about solar. Almost nobody talks about this.

Solar gets all the headlines. And sure, if the numbers stack up for your home, it can be a great investment.

But here's what most households miss: you don't need panels on your roof to save hundreds of dollars on your energy bill this year.

Comparing and switching your energy plan takes about five minutes. No tradesperson, no upfront cost, no waiting months for installation.

Yet most Australians still don't do it.

Before we bust those myths wide open, here's something you might find interesting.

The Australian Competition and Consumer Commission (ACCC) have found that Australian households on electricity plans two or more years old pay, on average, $317 more per year than those on newer deals. That's a loyalty penalty of 16.9% higher annual prices.

And for plans more than one year old, the average extra cost is $238 per year.

That's right. Your loyalty is costing you.

And you're not alone in this.

Only 1 in 5 Australians switched electricity providers in the past year. Which means a massive 80% of households are likely paying too much for the exact same electricity that flows through the same poles and wires to their homes.

For those who do make the switch, a massive 41% say saving money is their primary reason. And the difference can add up to thousands of dollars over just a few years.

So what's stopping everyone from taking action?

Myths. Nine of them, to be exact.

Myth #1: It's Not Worth the Effort. Savings Are Minimal

FACT: Australians can save up to $400 per year by switching to a better plan.

And regularly comparing and switching can lead to significant long-term savings. That's thousands of dollars over a few years that could be in your pocket instead of theirs.

Myth #2: Switching Is Complicated and Takes Ages

FACT: Switching is quick and easy, and can be completed online in just a few minutes.

Find out your savings here before you make the switch.

Myth #3: You'll Lose Power During the Switch

FACT: Your electricity supply will not be interrupted when you change providers. Not even for a second.

The switch is purely administrative. The same poles, the same wires, the same reliability. Just a different (smaller) bill.

Myth #4: You Need to Cancel Your Current Supplier First

FACT: You do not need to cancel your old provider or make that awkward phone call.

Your new electricity company will handle the entire transfer, including notifying your previous supplier. One less thing for you to worry about.

Myth #5: You Can't Switch If You're on a Contract

FACT: Most residential plans are now contract-free, but even if you're on a contract, you can still switch.

There may be an exit fee, but the potential savings often outweigh this cost. Always check your contract details, but don't let this stop you from comparing.

Myth #6: Renters Can't Switch Suppliers

FACT: Renters can switch electricity providers as long as the account is in their name.

The only exceptions are if your rental agreement specifically prohibits it (rare) or if you live in an embedded network with a single supplier.

Myth #7: All Energy Companies Are the Same

FACT: Providers differ significantly in pricing, customer service, green energy options, and rewards.

The electricity itself travels through the same poles and wires regardless of who you're with. The difference is entirely in the price you pay and the service you receive. That gap can be hundreds of dollars a year.

Myth #8: You'll Need a New Meter Installed

FACT: Switching suppliers does not require a new meter or any physical changes to your property.

The process is administrative only. No one needs to visit your home, and there's no disruption to your supply.

Myth #9: Loyalty Gets You the Best Deal

FACT: New customers often get the best discounts and rates. Staying loyal to one provider rarely pays off in the energy market.

Energy companies count on you staying put while they offer their best deals to new customers. It's the same loyalty penalty the ACCC flagged: $317 more per year just for not checking what else is out there.

What Smart Australians Are Discovering

This is Baz. He takes overpaying personally.

Meet Baz. He's Tucked's resident wombat, and he has one job: making sure Australians stop overpaying on their energy bills. That look on his face? That's exactly what he looks like every time he sees someone still on a two-year-old plan. Nothing makes him happier than sorting it out.

We caught up with Steve Hill, the CEO over at Solar Incentives, Australia's leading solar grant specialist. Here's what he had to say about energy switching:

"Solar gets all the attention, and I get it, that's my world. But the truth is, most households can save real money right now without touching their roof. Comparing and switching your energy plan is the low-hanging fruit that almost everyone ignores. The savings are real, and the hassle is basically zero."

Steve Hill CEO, Solar Incentives, Australia's leading solar grant specialist

Real Australians, Real Savings

Still not convinced?

Here's what real Australians who've made the switch have to say:

These aren't people who spent weeks researching energy plans or navigating complicated switching processes.

They simply took a few minutes to see what else was available and discovered they'd been overpaying for years.

Now That the Myths Are Busted, Here's What to Do Next

You might be wondering: "How do I actually go about switching without getting caught in the usual hassles?"

It's a fair question. With so many providers out there, each claiming to offer the best deal, it can feel overwhelming to figure out who to trust.

At Tucked we've taken the pain out of the process. It's 100% online, and you can see exactly what you're saving before you switch. There's absolutely no obligation.

Our process is dead simple:

1. 1Step 1: Enter your connection details (takes about 1 minute)
2. 2Step 2: See offers from top-tier providers with no lock-in contracts (2 minutes to review)
3. 3Step 3: Choose your preferred option. If there's a better deal, the switch gets sorted for you (2 minutes)

That's it. No sitting on hold. Just possible average savings of up to $400 per year, depending on your state.

It's completely free, and there's absolutely no obligation to switch if you don't find a better deal.

The Real Cost of Believing These Myths

Let's be honest. Regularly reviewing and switching energy providers is one of the most effective ways for Australians to save on household bills.

With just 5 minutes of your time, you could put up to $400 back in your pocket this year.

That's the equivalent of a weekend away, a few nice dinners out, or just more breathing room in your monthly budget.

And unlike solar, it requires no upfront cost, no tradesperson, and no waiting.

Just 5 minutes online to see if you're one of the 80% who could be saving hundreds.

Dave Grebb

Energy Saving Specialist

Dave has been in the energy industry for nearly a decade. Based in QLD, he's seen the ups and downs of the cost of living and is passionate about using the power of community to make a real difference. When he's not working, you'll find Dave trying out new recipes or watching the footy.