The June 2023 Energy Consumer Sentiment Survey (ECSS), released by Energy Consumers Australia, reveals that 59 per cent of small-business owners are more concerned about paying their electricity bills than they were a year ago.
The survey also found that only 60 per cent of small-business customers felt they received value for money for their electricity service, compared to 75 per cent a year ago.
Energy Consumers Australia Interim Chief Executive Officer Jacqueline Crawshaw said that the results of the survey were reflective of a decrease in consumer confidence in the market over the past 12 months.
“These results are a reflection of the recent turmoil in energy markets around the world coupled with rising energy costs, which have placed small-business owners under financial pressure as they also grapple with the increasing costs of doing business,” Crawshaw said. “Small-business owners tend to be acutely aware of their energy costs and they know that there is more pain on the horizon with energy prices set to rise up to 30 per cent across the country.”
“More needs to be done to empower small-business owners and restore confidence that the market is working in their interests,” Crawshaw added, pointing out that the survey highlights room for improvement in the way that the impacts of the energy transition were communicated to consumers.
“Consumers were asked whether they believed governments, energy retailers and other energy bodies had communicated clearly how the transition will impact them and only a minority believed they had successfully done so,” she said. “However, in instances where consumers did feel that they had received clear information about the impacts of the energy transition, they were far more likely to believe it would lead to cheaper electricity prices.
Crenshaw stressed a need for clear and concise communications that empower consumers with the right information to navigate the transition, including current challenges such as rising energy bills, and that restoring consumer confidence, including among the small-business sector, should be a priority for governments, retailers, and market bodies.
“The bill relief measures announced in the recent Federal Budget will go some way to easing the pressure on eligible small businesses, but a key to restoring consumer confidence is to ensure they have a sense of control over their energy use and ability to bring their bills down,” she said. “Small-business consumers want clear information and practical solutions which are easy to implement. However, the information they are currently receiving is often difficult to find or is not relatable to their business.
“Consumers must feel that the energy system has their interests front of mind if we want them to be actively engaged in the transition to net zero. There is a real opportunity to work directly with the small-business community and the advisory pathways they trust and empower them to make the best decisions for their future,” Crawshaw concluded.
The ECSS canvasses the views of more than 2200 households and 500 small-business owners nationwide.
