Queensland is one of the largest electricity consumers in the National Electricity Market. The growing demand for electricity consumption is due to continued economic and population growth in this region.
As of July 2007, most homes and businesses in Queensland now have the freedom to choose the retailer that they purchase electricity and natural gas from. Before this time, only large commercial companies were able to freely choose their energy retailer. Full Retail Competition enables Queensland customers to choose which retailer they purchase energy from to secure cheaper and more competitive prices.
Nonetheless, electricity prices in Queensland have continued to rise by at least 13% in the past year alone. Queensland residents have paid an average of $200 extra on their annual power bills since electricity prices were increased by the Independent Queensland Competition Authority in 2010. This price increase is supposed to be the result of rising costs for transmission, distribution, and coal and gas.
The Queensland government encourages customers to take advantage of their ClimateSmart Home Service program to save money on energy and benefit the environment at the same time. This service costs $50 per year and will reduce a home’s carbon footprint. This savings could total to $300 on water and energy bills each year.
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 an 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.
Compare Rates Quickly and Accurately!
ElectricityWizard has a free call back service that will advise you if there is a better electricity plan released at any time. This service will keep you constantly updated with the best rates and discounts available from many top suppliers in your area so that you never have to worry about wasting money on your electricity bill.
ElectricityWizard is based 100% in Australia and will get you the latest, most up-to-date comparison of which of our preferred electricity suppliers’ offerings will better deliver on your needs, against what you are receiving now. To compare your home or business electricity rates, call ElectricityWizard on 1300 359 779 today!