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The majority of customers buy their electricity through fixed contracts that keep prices stable. Some retailers are offering to give consumers access to the wholesale market in a bid to cut their power bills.

Aussies are reporting bill shock over the skyrocketing cost of electricity and gas this year. Switching providers is one way to try and reduce these costs, with companies like Amber Electric offering wholesale prices.

Geisa Schreiner slashed her bills from roughly $300 a quarter to just $100 by subscribing to wholesale electricity with Amber Electric.

Wilson is with the retailer Amber Electric, which charges a $19 a month flat fee in return for access to the spot tariff and software to manage it, plus smart controls via an app.

Victorians struggling with surging power costs are being urged to make a simple change to slash their bills. It's as simple as shifting to a wholesale power company - and altering a household habit.