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Electricity Company

Post on June 13th, 2015

Compare electricity companies in Australia and start saving!

It’s no secret that electricity and gas prices are on the rise, and utility costs around the country are increasing. But what a lot of people don’t realise is that you can cut the cost of your electricity bill dramatically. With the deregulated energy market, you now have the power to choose the energy supplier that’s right for you—so to start seeing savings today, simply compare electricity companies Australia-wide, and find the one that can give you the best deal.

The good news is that we’re here to make it easy for you and do the comparison for you. ElectricityWizard is proud to provide you with a fast, accurate quote that is absolutely free, to compare electricity suppliers for cheaper rates today. This free service is made available to help Aussies coast-to-coast in finding the right provider for more affordable energy bills.

ElectricityWizard will research rates, discounts, terms, and conditions to match you with a better electricity supplier that fits your home’s needs. For more information on getting big energy savings, call us directly at 1300 359 779 or fill out the form below to get a fast quote in moments.

Over 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, having the background knowledge helps you not only understand your plan, but have a better idea of why the market is what it is. Knowing not only what plans are out there, but why different retailers are able to offer cheaper prices on electricity and gas, gives you the power to make the most of these offers. And as they say, knowledge is power.

It began with the deregulation of the electricity 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 a raft of new energy suppliers could enter the game and start offering prices that were more competitive than the governments’ offers—and you can bet they did, each offering a range of different plans, prices, and services.

With over 30 energy retailers active today, 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 let’s dive in and see how these companies charge you, so you know exactly what you’re getting when you compare electricity companies in Australia.

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 the rate your supplier charges you for the 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 what price for getting electricity supplied to your home. The usage fee is set by the retailer, which means that this is the main thing you’re looking for when comparing rates and plans.

The supply fee is the amount you get charged for being connected to the electricity grid. This usually stays the same every bill, unless your supplier decides to change the fee without any warning. When you see retailers with suspiciously low usage rates, this can mean they’re offsetting it with a higher supply fee—so be on the lookout!

Choosing the type of plan is key to getting the base for a better rate. There are two types you’ll usually find when comparing electricity companies: standing offers, and market offers.

A standing offer is a basic, no-frills electricity package, a default set offer with a minimum of terms and conditions that follow the rules set by your State’s government. Standing offers are left-overs from the regulated market days, and are still made available as a way to give everyone the opportunity to have access to electricity to their home. The retailer will set the price, and they’ll usually be more expensive, as they don’t get covered by any special discounts or offers.

A market offer is the type of plan you want to be looking at—this is where retailers get competitive. The terms and conditions, rates, features, discounts and more are all set by the retailer, so this is where you’ll see different rates and savings.

So you want to keep these two types of plans in mind when you’re shopping around, to make sure you’re focused on 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 to compare retailers simply, and stress-free.

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Comparing plans

You want to make sure your electricity plan is right for you and your household, so to do this properly you should start by determining what matters to you in a company. After all, an electricity plan is a long-term commitment, so you want to make sure you like the company you’re with.

So what matters to you? Is being a locally-owned and operated electricity provider something that you find important, or would you prefer to see a portion of your electricity come from greener energy sources? With the number of suppliers out there, you’ll be sure 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. How much energy do you use, and is it the same each bill (on average)? Knowing your household’s 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:

  • Understand the type of plan you’re looking at – There are usually two types of plans available to you: fixed rate plans and variable plans. A fixed rate plan guarantees you get charged the same usage rate for your entire contract, whereas a variable rate plan means your rate can change based on the wholesale energy market, and at your retailer’s discretion. A fixed rate plan gives you comfort you’ll always be charged the same rate (so you simply reduce your energy use if you want to save money), whereas a variable rate plan gives you the chance to potentially see your electricity rates go down.

  • 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.

  • Working out your tariff – There are a number of different types of tariff structures (meaning different meters) depending on which state you live in; the tariff is essentially how your supplier charges you for your electricity consumption. Before you do any more research, it’s crucial to work this out for each plan that you’re looking at. These tariffs can include:

    • Peak only – The peak is when the most amount of electricity is used, across the grid—so the “peak” time for use will see you charged more during this time.
    • Time of use – A time of use tariff means that your electricity will be charged at different rates at different times of the day. So it could be peak, off-peak, or a shoulder time. The “shoulder” period occurs in between the peak and off-peak, and is usually slightly less than peak.
    • Controlled load tariffs – Some appliances you operate are charged a controlled load tariff. This usually applies to things like electric hot water systems, or your pool pump. A controlled load tariff only applies to the one appliance, which will usually have its own meter, and is generally lower than other tariffs.

  • Ask if your supplier matches rates – Electricity suppliers are competing in a busy market, 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 thing that a lot of them are able to do. So ask if they’re willing to match or beat other rates when you’re comparing plans; this gives you the opportunity to find a supplier that feels right for you, and get a better rate at the same time.

  • Ask if they offer any discounts – Discounts are another way that electricity suppliers will try and make their plans seem more appealing. It can be for anything—something as simple as opting in to email correspondence, paying your bill on time, or setting up 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 any discounts that apply to your plan. 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.

In order to keep getting the most competitive rates, we recommend that you compare your plan every 12 to 24 months. This means you’ll always be able to find a good deal, and as the market evolves, there is even the opportunity to take advantage of new technologies that are being rolled out by different companies.

Energy retailers

Below is a list of energy retailers in Australia. Currently Victoria, NSW, SA, ACT, and parts of QLD are deregulated energy markets, meaning they’re open to competition via private enterprises, and you get the benefits—and savings. Visit each page to find out more about each retailer:

As you can see, there’s a vast number of energy suppliers out there in the market. It’s quite a list! Not all are active in each State, so the number of suppliers changes depending on where you live.

But the beauty of this is that with so many supplier options to choose from, there’s more choice wherever you decide to compare electricity companies, Australia-wide. Ask around to see which supplier is going to be right for you, and provide you with the best deal on your electricity plan.

Get a better deal on your electricity bills today

At ElectricityWizard, we do all the hard work for you. When you call us, we’ll compare electricity companies in Australia, looking at all the different rates and plans, and help you select a great plan for you. We’re 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?

Try us today! Call ElectricityWizard now on 1300 359 779 or fill out your details below to have one of our comparison specialists help you get a better deal on your energy bills starting today!

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