Cheapest Electricity Company
Post on June 13th, 2015
Finding the cheapest (and best) electricity company in Australia
In the age of rising utility costs, it can often seem like an uphill battle to find ways to save money. The good news is that the majority of Australians now have the freedom to choose their electricity retailer to help them get cheaper prices on their quarterly electricity bills. If you are concerned about the rising cost of electricity state by state, it can literally pay to compare electricity rates and possibly switch to the cheapest electricity electricity company near you.
ElectricityWizard makes the process easy for you. You can use our free, quick, and accurate electricity comparison service to compare electricity rates and switch for possible savings of hundreds of dollars a year!
To start saving with a hunt for the cheapest electricity company today, fill in the form below for a no-obligation quote or call us directly at 1300 763 849 to speak to a skilled customer service representative!
Or if you’d rather do it yourself, more good news is that there are a few key things you can look for when comparing electricity prices. You see, shopping for the cheapest deals on your electricity and gas is just like anything else—you have to balance quality with quantity. You’re looking for the cheapest—but the cheapest electricity rates might not always guarantee the best service, and the best service generally won’t deliver the cheapest rates.
You want to find a balance that works for you and find a supplier that suits your needs. So if you’re after the best rates coupled with the best service, make sure to keep the following in mind when you’re searching for your new electricity supplier:
- What matters to you? – An electricity plan is a long-term commitment, so you want to make sure you’re choosing a supplier that cares about what you care about. Would you prefer they be locally-owned and operated, or are you more conscious of using green sources of energy? Whatever your preference, there’s sure to be a supplier out there that matches your beliefs.
- Check your current energy usage – Once you’ve determined what’s important to you in a business, have a look at your previous energy bills. Has your usage changed much over the last few bills? Knowing your average electricity usage is important when choosing the type of plan that’s going to suit you.
- Know what type of plan you’re getting – You’ll usually find 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 changed 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 – Read the terms and conditions of your plan carefully to make sure you know what’s involved. Make note of any changes to rates, your tariffs, or any fees. Knowing exactly what’s involved in your plan means there’s less of a chance of any surprise changes (and costs) in the future.
- Can the supplier match rates? – With the amount of competition in the market today, electricity suppliers want to land you as their customer, so a lot of them will be willing to match, or even beat, rates offered by rival companies. So ask if they will—doing so gives you the opportunity to get a better rate, with a supplier that you prefer.
- Do they offer any discounts? – You’ll also find that a lot of suppliers offer discounts on certain elements of their plans, in order to make their plans appear more attractive. See what they can do for you—there might be discounts available for things as easy as setting yourself up with direct debit, switching to email correspondence, or even just for paying your bill on time. But make sure you check to see what the discount is on, as there’s a big difference between a discount on your usage rate, and a discount that covers the entirety of your bill.
We also recommend that you compare gas and electricity rates every 12 to 24 months. This lets you stay on top of a competitive market, giving you the opportunity to regularly find who’s the cheapest electricity company in Australia, and potentially even make the most of any new technology that may have become available.
But once you’ve found a cheaper electricity supplier, it’s up to you to manage your use and reduce your bills yourself. Even better news is that it’s not actually that hard.
Take action: conserve energy to reduce annual power prices
It should go without saying that one of the best ways to save on electricity costs over the long-term is to compare electricity rates and seek out the cheapest electricity company near you. Once you have locked in lower rates for your quarterly electricity bill, you can do your part to save energy at home to benefit the environment and reduce your annual power bills even further.
Most homeowners don’t realise that one of the biggest expenses on annual energy bills is the cost of heating and cooling a home. As an example, a city like Melbourne is known to have dramatic fluctuations in temperature, depending on the season, ranging from scorching hot summers to freezing cold winters.
The average cost spent for heating and cooling a household in Melbourne throughout the year is $1800 for gas and electricity!
Yet if you take the time to make your heating and cooling more efficient, you can reduce your electricity usage in both hotter and colder weather to significantly cut down on expensive power prices year-round. Consider these helpful tips to save energy and keep your home at the right temperature more efficiently this year:
- Re-insulate doors and windows to prevent heat from escaping from your home.
- Close off all unused areas of your home so that extra heat isn’t wasted to heat rooms that aren’t in use.
- Draw blinds and curtains to keep the heat in.
- Change the blade rotation on ceiling fans in the winter to push rising hot air down to better heat a room.
- Take shorter showers. It might not be fun during a cold winter, but since up to 33% of your yearly energy usage is consumed by your hot water heater, taking shorter showers and installing a low flow showerhead could save you up to $140 on electricity each year.
- Use gas heating. If you want to reduce your energy bills and benefit the environment at the same time, gas heating will emit roughly 33% of the greenhouse emissions as a traditional electric heater. On top of that, it’s much cheaper to run at only $148 per year as opposed to $294 per year for under floor heating.
- Make the most of our beautiful Australian weather and take advantage of natural methods to cool your house. Close your windows, blinds, and curtains during the hot summer days to keep the sun’s heat out, and open them up when the sun goes down to let in the cooler evening air.
- Instead of using the air conditioner, use your fan instead. A fan ends up being around 80% cheaper to use, which can help you save up to $200 a year on your electricity bill.
- If you do end up needing to turn on your air conditioner, don’t set it too low. The optimum temperature for cooling down a house on a hot summer’s day is between 23°C and 26°C. You can save up to roughly $80 on your power bill this way, as for each degree that you increase it you’ll save roughly 10% on the cost of electricity it uses.
- The same goes all year round. Keep your home at a stable temperature by setting your thermostat at 23° to 26° in the summer and 18° to 21° in colder weather. Keeping your house at a comfortable temperature year-round could reduce your energy consumption for heating and cooling by up to 10% per year.
- Dry clothes outside instead of in the dryer. We’ve got lovely weather in Australia, so why not make the most of it? Drying four loads of laundry outside, instead of using your dryer, can reduce your electricity bill by almost $150.
Save energy all year round
- Remember to turn off any lights in your home that you don’t need on. It sounds obvious, but this will play a large part in saving energy and reducing your use. Leaving unnecessary lights on leads to unnecessary costs, so only have the light on for the room you need to be in. Switch off and save.
- Turn off any non-essential appliances at the wall, instead of leaving them on standby mode will. Appliances like computers, TVs, dryers, washing machines, microwaves, kettles, and even phone chargers are making a big dent your power use, so switching them off at the wall, or unplugging entirely, will save you dramatically.
- The average four-person Australian household can comfortably survive on one fridge, so a second fridge is just a power-drain. Older fridges use anywhere from two to three times more electricity than newer, energy-efficient models, and running on only one fridge has the potential to save you up to an estimated $200 a year on your bill.
- Running high-draw appliances like the dishwasher or washing machine during off-peak times means you’ll be charged less for your use. So find out what hours your retailer considers to be off-peak, and do your washing or wash your dishes then.
You can start small by conserving energy in both hot and cold weather to reduce expensive power prices by hundreds of dollars a year. As you can see, it’s as simple as turning off a switch.
Even better, by taking the time to compare and switch electricity retailers with ElectricityWizard you can determine if you are paying from the most competitive and affordable power prices available in your area!