Post on June 12th, 2015
How to compare electricity rates in Adelaide and save money
Understanding your options when it comes to choosing an electricity company is the only way to make sure you’re getting the best deal. Changes in the South Australian energy market, and fluctuating electricity prices can make it difficult to know if your current plan is the cheapest or best option for your home or business.
Electricity Wizard monitors the gas and electricity market in Australia to make sure we can offer our clients the cheapest rates at all times.
The factors that contribute to the price of electricity in South Australia includes the cost to generate electricity, maintenance of the transmission and distribution networks, green scheme contributions, and retail costs.
Since South Australia primarily receives its electricity service from only one distributor, the basic wholesale electricity price remains consistent throughout the state. However, there are currently an increasing number of electricity retailers operating in Adelaide and South Australia. This means the prices that you pay each bill will most likely vary based on the electricity company that you’ve chosen to go with.
Consumers now have a range of retailers to choose from including:
- Alinta Energy
- Diamond Energy
- Dodo Power and Gas
- Energy Australia
- Lumo Energy
- Momentum Energy
- Origin Energy
- Red Energy
- Simply Energy
- Tango Energy
So no matter what you’re looking for in an electricity provider in South Australia, whether it’s a company that’s locally owned and operated, or one that pays special attention to getting their energy from greener sources, there’s sure to be one out there that suits you.
There’s a huge variation in the prices offered by the various retailers in South Australia. The 2018 report on the Electricity Tariff-Tracking Project found a difference of $840 a year between the best and worst market offers in South Australia (based on an average usage of 6,000kWh). And households on the most expensive standing offer would save $1,165 a year by switching to the cheapest discounted market offer.
Clearly, there’s huge savings to be found if you compare retailers and find out who’s offering the cheapest rates in your area of South Australia. The comparison experts at Electricity Wizard stay up to date with all the latest offers and current retail discounts. A quick phone call to us will let you know if you are currently getting the best price possible.
How to Compare Rates to Find the Cheapest Plan
In South Australia and Adelaide, customers will pay a fixed supply charge based on cents per day for their 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.
Electricity prices can also vary depending upon the type of meter that is installed in a home. A household electricity meter will operate under various tariffs, and this determines the pricing structure that the home falls under.
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, or how much of it they use. Other households may be on a specific type of meter that only operates for certain appliances like storage heaters and hot water heaters, known as an off-peak meter. These meters only supply electricity at night at a lower price for total usage.
Whatever meter your house might be on, the important thing to know is that even in the current climate of rising electricity and gas costs, help is at hand. Electricity Wizard is here to help you compare electricity rates and find a better electricity plan that helps you save money, so you can do your bit to fight the rising utility costs that you might be experiencing.
Cheapest isn’t necessarily the best
Looking around to see what other electricity suppliers are out there, and what type of plans they offer, is the first step to take in making a saving on your power bill. With the sheer number of companies and plans around, you’ll be sure to find something that suits your budget and your household.
But while getting the cheapest price would be ideal, the cheapest electricity rates don’t always guarantee that you will get the best service. You want to be sure you’re making the decision to go with a supplier that will treat you right. At Electricity Wizard, we review all the retailers operating in each region to make sure we only offer our clients the best customer service experience.
- Terms and conditions – Make sure to compare what each supplier is charging per unit, the tariff you might be on, the terms and conditions that vary from supplier to supplier, and other any fees that may be part and parcel of your monthly bill. The more you understand about what goes into each plan, the smarter a decision you’ll be able to make.
- Contract length – Make sure you’re aware of how long your contract lasts for. You don’t want to lock yourself into something that you can’t get out of for years to come. Some companies require no contract at all and you’re free to switch at any time.
- 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. If your new supplier says that they don’t cap their rate increases, we recommend that you avoid them—this can signal that they’re looking at increasing them in the near future, meaning you won’t be saving as much in the long run.
- Any hidden fees – Does the supplier charge moving, disconnection, or break contract fees? Make sure to find out whether moving house is going to cost you money, or if you’re able to leave your contract without being penalised. You should have the freedom to do what you want with your contract, so make sure your supplier allows you to do so.
- Discounts – Ask the supplier if they offer any discounts for new customers. With the competition on the electricity market today, suppliers want to hook you in as their customer, so they may be willing to sweeten the deal by offering a percentage discount on your rate, a monthly reduction on your bill, or even something as simple as free movie tickets, just for signing up with them.
- Matching rates – Ask the electricity supplier if they are able to match or beat guarantees from other suppliers. Again, this is the beauty of the deregulated market: electricity companies are fighting each other for your time, so they may be willing to outbid each other to get you onboard with them. Doing 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. This lets you stay ahead of the market, and make sure you’re using the competition to your advantage.
Compare rates quickly and accurately!
It might sound like a lot of work to compare companies to find the cheapest retail offer. If you don’t have time to research your options, you can phone Electricity Wizard. In just 5 minutes, we’ll compare your current bill and plan to see if you can save money.
Electricity Wizard also 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 in your area so that you never have to worry about wasting money on your electricity bill.
Electricity Wizard 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 leading suppliers are best suited to meet your needs. To compare your home or business electricity rates, call Electricity Wizard on 1300 359 779 today!