Have you just been shocked by the size of your electricity bill? How about finding a plan with great supply and usage rates, discounts, and features? This can be achieved by comparing several plans and providers.
Certainly, most homeowners in Australia can now get their utility service from a wide range of energy providers. Depending on where you live, you may have a choice of up to two dozen retailers and more than seventy electricity plans. It is possible to notice a significant difference between the cheapest plan and the most expensive plan for the average household. Yet, the electricity provided is identical. However, to get the most out of your comparison, we want to help you understand a little more about your utility bills.
Table of content
- What type of contract are you on?
- Do you understand the tariff you’re on?
- Enjoy your discounts
- It is worth comparing
- What type of contract are you on?
If you are on the market contract, your provider will typically offer you more competitive electricity supply and usage rates if you’re on a market contract. Your contract may feature discounts and perks; however, these may change at the end of a contract or benefit period which is typical of 12 months.
However, for regulated or standing contracts such as most markets are offering, you are more likely on a plan that does not feature any discounts. Supply and usage rates may not be as competitive as those offered by other companies. You are typically on this contract if you have never entered into a market contract or been on the same market plan for more than 12 months.
- Do you understand the tariff are you on?
Providers charge different rates for your electricity usage which is usually based on the difference in the tariff rates. However, it sometimes depends on when you are using most of your house energy. Therefore, it is necessary to understand which tariff rate you are paying your utility bills.
- Identify the peak and off-peak hours of your utility providers. These elevation and non-elevation tariffs give you the possibility to save on your bills if your current utility plan charges less during these periods. For instance, when the energy grid is not in high demand, you can be charged less than the peak hours.
- When you use electricity on a single rate tariff, you pay the same rate regardless of when you use it. Also, there is no need to have a smart meter for this sort of plan.
Identify the need and time of use. Also, the price of this tariff changes throughout the day. Typically, electricity costs most during peak times which is usually weeknights and is cheapest in off-peak times. However, the shoulder period is the period between a peak and off-peak times. However, a smart meter is required to configure this type of tariff.
- Take as much control of the load as you can. It is possible for providers to charge a rate for just the appliance and the electricity it consumes if you use electric hot water systems. However, these appliances usually operate in off-peak times. Usually, these appliances come with their own meters that sit beside your basic meter.
- You can demand the tariff on your utility bill. Additionally to usage and supply fees, you are charged for electricity demand at a particular time. However, a smart meter is required.
3. Enjoy your discounts
Depending on the plan, discounts are offered on electricity usage, supply charges, or other perks (e.g. movie tickets, game tickets) if certain conditions are met. It is also becoming more common for electricity retailers to partner with aligned businesses, service providers, and insurance companies to offer additional or more attractive membership discounts. If you are looking to compare electricity plans, be sure to check whether these benefits offer value to you.
4. It is worth comparing
There is a great value to compare electricity provders. By comparing your electricity and gas plans at least once a year, you could ensure you are not paying more than you need for energy. Make an informed choice for your household’s energy usage by comparing energy providers or retailer options with our service.
The benefits of comparing your energy options:
- Take advantage of a better plan. Might be your current energy plan is not featuring discounts or you can find the fewer usage rates from another service provider.
- See if there is a better price available. A small business or home energy bill includes supply and usage charges that are different for every provider. By comparing several service providers and their plans, you can choose whatever plan suits you the best
- Review a range of plan discounts. Discounts can lower your energy bill for a set period, when comparing, always check if you need to meet the criteria or conditions to receive the offer.
