South Australia makes up the fourth largest electricity market in Australia, next to New South Wales, Victoria, and Queensland. Approximately 700,000 homes and 100,000 businesses are serviced in the state by a single electricity distribution network called ETSA Utilities.
South Australia now operates under full retail competition as of 2002. Before that time, residents did not have the luxury of switching electricity providers.
In South Australia and Adelaide, customers will pay a fixed supply charge based on cents per day for electricity, in addition to usage charges per kilowatt hour of power consumed charged in cents per kWh. The more electricity that a customer uses, the higher the usage charges will be. For this reason, customers can save money by conserving electricity.
Since South Australia receives electricity service from one distributor, basic retail electricity prices remain consistent throughout the state. However, prices could vary based on the electricity retailer that a customer chooses.
Electricity prices can also vary depending upon the type of meter that is installed in a home. Most homes use a single-rate meter, which enables the customer to pay the same price per kWh no matter what time of day they use electricity. Other households use off-peak meters for certain appliances like storage heaters and hot water heaters; these meters only supply electricity at night at a lower price for total usage.
Cheapest Isn’t Necessarily the Best
While getting the cheapest price would be ideal, the cheapest electricity rates don’t always guarantee that you will get the best service. For the best of both worlds in cheap rates from a top-quality electricity supplier, use the criteria listed below when searching for a supplier:
- Terms and Conditions – Make sure to compare rates, tariffs, and terms and conditions from supplier to supplier before switching.
- Rate Increases – Electricity suppliers can change their rates with only 28 days’ notice, meaning that your electricity bill could vary significantly from month to month. This is why it is imperative to look for a company that can cap rate increases so that you can rest assured that your cheap rate will remain secure in each billing cycle.
- Match Rates – Ask the electricity supplier if they are able to match or beat guarantees from other suppliers. This will ensure that you get the best deal from a dependable supplier that you can trust for the long-term.
It is recommended that you change suppliers every 12 to 24 months to take advantage of the best rates and the newest technologies.
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ElectricityWizard is based 100% in Australia and will deliver to you the latest, and most up-to-date comparison of which electricity suppliers and which contracts on offer from our preferred suppliers are best suited to meet your needs. To compare your home or business electricity rates, call ElectricityWizard on 1300 763 206 today!