Compare Electricity Suppliers
Post on June 12th, 2015
ElectricityWizard is proud to provide you with a fast, accurate quote that is absolutely free to compare electricity suppliers for cheaper rates today. Our free service is made available to enable Australians from coast-to-coast to choose your own provider for more affordable energy bills.
ElectricityWizard will research rates, discounts, terms, and conditions to match you with a better electricity supplier to meet the individual needs of your household. For more information on big energy savings, call us directly at 1300 359 779 or fill out the form below to get a fast quote in moments.
ElectricityWizard works as an expert energy broker to match Australians each with a better deal on their energy bills. More than 165,000 Australians have compared with us. The best part? It takes just 5 minutes, so compare and you could save today!
How to compare electricity suppliers
While we’ve tried to make it as easy as possible for you to compare electricity prices, it helps to know the background. Knowing not only what plans are out there, but why different retailers can offer cheaper prices on electricity and gas, lets you make the most of what’s available.
It began with the deregulation of the energy markets in Victoria, Queensland, New South Wales, and South Australia, which meant that each State’s government removed restrictions on the pricing of and competition for supplying energy. This meant that new players could get into the game, and you can bet they did, each offering a range of different plans, prices, and services.
With so many new companies now providing energy services, this means that there’s a lot more competition available, giving you the power to shop around to find the cheapest rate for your home or business.
So, how exactly do these companies charge you?
Understanding your charges
Your bill is made up of two main charges: your usage fee (the cost for the electricity you use), and your supply fee (the cost for the electricity supply itself).
The usage fee is a charge for how much electricity you use, and comprises peak time and off-peak-time electricity usage charges (charged in c/kWh), and a “service to property” fee. The service to property fee is a charge for getting electricity to your home. The usage fee is set by the retailer, so and this is the main thing you’re looking for when you compare rates.
The supply fee is a charge for being connected to the electricity grid. This usually stays the same every bill, unless your supplier changes the fee without warning. When you see retailers with suspiciously low usage fees, this can mean they’re offsetting it with a higher supply fee, so be aware.
So which plan should you choose? This is up to you. There are two types you’ll usually find when comparing suppliers: standing offers, and market offers.
A standing offer is a basic, no-frills electricity package, a default offer with a minimum set of terms and conditions that will generally follow the rules set by your State’s government. Standing offers tend to be left over from the regulated market days, and are available as a way to give everyone the opportunity to get access to electricity. The retailer will set the price, and they’ll usually be more expensive, as they are covered by any special discounts or offers.
A market offer is the type of plan you want to be looking at. The terms and conditions, rates, features, discounts and more are all set by the retailer, and this is where you’ll see different rates and savings.
So you want to keep these two types in mind when you’re looking around, to make sure you’re getting the best value for money. Like most other things, the cheapest rates may not provide the best service, and vice versa.
But with all the competition available on the market today, it can sometimes feel overwhelming—but trust us, it doesn’t need to be. Here’s how you can easily compare retailers.
You want to make sure your electricity plan suits you perfectly, and in order to do this you should start by determining what matters to you.
Is being a locally-owned and operated electricity provider important to you? Or do you want to see a portion of your electricity come from environmentally-friendly energy sources? You’ll be able to find a provider out there that fits your criteria, so make sure you know exactly what you’re looking for when you start comparing electricity suppliers.
Once you’ve done this, have a look at your past energy bills. Is your usage fairly static, or does it fluctuate from bill to bill? Knowing your electricity usage trends will help you choose a plan that better suits your needs.
Now it’s time to compare the different plans that electricity suppliers have on offer. Here’s what to look for when comparing rates:
- What type of plan is it? – There will usually be two types of plans you’ll come across, fixed rate plans and variable rate plans. A fixed rate plan set the usage rate for the whole term of your contract, so the rate your pay on your electricity will always be the same. A variable rate plan means your rate can change based on the prices of electricity from the wholesale energy market—so if wholesale energy costs rise or fall, so does your rate.
- Check the terms and conditions – Reading the fine print, while boring, helps you to see exactly what you’re getting yourself into. Check to see what each plan says about rates, tariffs, or fees. If you read these thoroughly, you can cover yourself for the future, and know you won’t be charged any surprise fees or be subject to any rate changes without warning.
- Matching rates – Electricity suppliers are businesses, so they’ll do what they can to get you as their customer—and matching, or even beating, rates set by the competition is one a lot of them do. Ask about matching rates when you’re comparing plans, this gives you the opportunity to find a supplier that you want to go with, and get a rate that works for you.
- Discounts – Discounts are another way that electricity suppliers will try and make their plans seem more attractive. It can be for anything—something as simple as paying your bill on time, setting up email correspondence, or using direct debit to pay your bill. Make sure you ask what discounts or specials they have on offer, and see how you can save even more.
But make sure you know exactly what’s involved with your discounts. Make there aren’t any surprise fees or charges at a later date, and check to see exactly what is being discounted—there’s quite a difference between a discount on your entire bill, and discount on your usage rate.
We recommend that you compare your rates every 12 to 24 months. This means you’ll always be able to find a good deal, and as the market evolves, maybe even take advantage of new technologies that are being rolled out.
As well as comparing your electricity rates, there are other things you can do to help reduce your energy bill, and reduce your environmental footprint at the same time.
Save hundreds on your annual energy bill by living sustainably
Once you have taken a moment to compare a wide range of electricity supplier offerings in your area, and possibly secured hundreds of dollars in annual savings on your power bills, you can go even further. If you want to take it a step further and reduce expensive electricity bills even more, you can start by making simple changes to live sustainably at home.
Energy star ratings to conserve energy at home
If you’re in the market for a new washing machine, for example, making the switch to a washing machine with a minimum of a 3.5 star energy rating will conserve energy each time you wash a load of laundry, according to ResourceSmart by the Victorian Government. If you are looking for maximum water efficiency, it’s best to choose a washer rated at 4 stars to conserve water.
For every extra star on the energy rating label, it will reduce the running cost of a clothes washer by 25% and 15% for a clothes dryer.
When shopping for a new appliance, there are several points to take into consideration to conserve energy and save money; beyond the basic energy star rating:
- Buy a front loading washer to use just 50% of the water of a top loading washer.
- Buy a clothes washer model with new load sensing technology.
- Buy a clothes dryer model with an auto sensor to prevent over-drying.
- Operate a clothes dryer with a heat pump or gas dryer to run it at a much lower cost.
No matter what type of washing machine or clothes dryer that you have, you can save serious money by only washing and drying with a full load. You can also better conserve energy by using a cold wash each time to reduce your running costs by up to 90%!
Get a better deal on your electricity bills
At Electricity Wizard, we do all the hard work for you. When you call us, we’ll compare your rates and plans against our preferred suppliers available in your area and help you select a great plan for you. we are here to help you cut down costs and meet any other criteria you may have. Best of all, our service is completely free—so what do you have to lose?