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Post on June 13th, 2015

Compare electricity rates in Victoria and save, big-time

If that sounds like an easy fix to a complex problem—well, then you’d be right. If you’re looking for a better deal on electricity, you can compare electricity rates in Victoria to find competitive prices from suppliers near you. In less than 5 minutes, you can get a free price quote at no obligation to you to potentially save a small fortune on annual power expenses.

Truth be told, using ElectricityWizard’s quick, accurate electricity comparison service is much more efficient than trying to manually calculate the cost of each electricity price package yourself. You could do it yourself, sure, but it takes time. You’ll spend hours researching electricity companies, researching rates, doing electricity use calculations, and poring through electricity plans to read the terms and conditions.

But if you relish the thought of comparing electricity plans and that sort of in-depth research, then by all means, go ahead! We can tell you exactly what you need to look at to make sure you’re finding the right plan for you. You can find this information further down the article.

However, if the idea of comparing your own recent electricity bills, working out your electricity usage, and makes side-by-side lists of electricity suppliers and plans sounds like some form of torture, then don’t worry—we’ve got you covered. ElectricityWizard will do all the hard work for you by comparing apples to apples. Our representatives work hard to find for you any cheaper rates and special discounts available to you. We can do all this for you in just a few moments flat.

To take a look to see if you can save, and then start saving money on electricity today, call 1300 557 701 to speak to a skilled customer service representative or fill in the form below for more information!

A brief history of the electricity market in Victoria

As you compare electricity rates in Victoria, you can be thankful for your freedom of choice most of all. Victoria was one of the first States to help establish the National Electricity Market in 1996, introducing retail competition to the State.

Because of this competition in the electricity market, customers throughout Victoria now have the choice to select their own energy retailer with cheaper prices and competitive rate packages. This ability to choose an electricity supplier is called contestability. This helps to support a healthy electricity market with fair prices for customers, free from monopolies.

Since this time, a whole host of electricity providers have entered the market, giving you more choice than ever before. In Victoria alone there are currently over 20 energy retailers available to consumers, each with their own rates, fees, and plans to provide your home with power:

With this many electricity companies available to you, there’s sure to be one out there that suits you to a tee, and provides you with a plan that matches exactly what you’re looking for.

If you want to exercise your freedom of choice today, it takes just a few moments to get an electricity comparison and you could find cheaper rates near you in that short time! This simple step will help you secure any lower electricity rates in your area to save you your hard-earned cash.

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Compare electricity retailers to reduce your energy expenses

It’s common knowledge that energy is becoming more and more expensive each year, regardless of where you live in Australia. And while most Australians are on the lookout for cheaper electricity rates, it’s difficult to determine which electricity retailer is better than another.

You see, better doesn’t always mean cheapest. While one supplier might offer the cheapest rates around, they might fall short in the customer service department. Or they could offer a cheap rate, but with exorbitant fees coming into effect when you look at opting out of their contract.

Also, what’s better to one person might be different to someone else. For you, you might prefer a supplier who is locally owned and operated, so that their customer service team understand your specific geographical problems. Or, you might prefer to look for an electricity company that values renewable or green energy sources, and are doing their bit to reduce their (and your) impact to the environment. It’s these types of things that you need to pay attention to when doing a price comparison.

When ElectricityWizard conducts an electricity price comparison, we look at the following criteria to match you with a great electricity retailer that meets your needs. And if you’re keen on doing it yourself, you can even use these tips as a guide.

We assess:

  • The minimum contract term you are looking for. It’s no use looking into two or more year contracts, when all you want is a quick one-year plan to see you through.
  • The types of plans that are available. There are typically two types of electricity plans available: variable rate plans and fixed rate plans. Most of the plans on the market are variable rate plans, which means that the electricity usage rate can change depending on the market, whereas fixed rate plans lock you in to one usage rate for the term of your contract.
  • The nature of the tariff under which your plan falls. There are different types of tariffs—think of them as electricity meters—available, and these will determine how you get charged for your electricity usage. The most common ones you’ll find are:
    • Single rate tariffs. You get charged one set rate for your electricity use, regardless of the time of day or how much of it you use. A single rate tariff means you don’t have to worry about using electricity during peak times, or going over your threshold and receiving a higher charge.
    • Time of use tariffs. This tariff sees your electricity charged at different rates depending on the time of day. Peak times, which are usually throughout the day and into the early evening, will generally be a higher rate, with off-peak hours (overnight and early morning) charged at a lower rate, and shoulder periods (the in-between time) charged somewhere in between.
    • Controlled load tariffs. This tariff applies to specific appliances that are run off their own individual meter, so things like electric hot water systems and pool pumps. A controlled load tariff only applies to that certain appliance, however you can have multiple controlled load tariffs at one residence.

  • Any hidden fees for early termination. While it doesn’t make a difference to you now, knowing that you won’t be slugged with a hefty fee if you ever want to switch plans in the future can be a huge weight off the mind. As we recommend comparing suppliers every 12-24 months to stay on top of the market, this is a useful piece of information to know.
  • What payment options are available, depending on how you like to be billed. There are more payment and billing options available now than ever before, thanks to advances in technology, so we make sure you can pay the way that suits you. Whether you prefer to do direct debit, and know your payments will be made automatically, or if you prefer the more hands-on approach of paying by Bpay, we’ll make sure your supplier offers what you need.
  • Special discounts, bonuses, and offers to help you save on total electricity rates. After all, it’s no use switching plans if you’re just paying the same amount, is it? Getting discounts on your new plan is something that many suppliers offer as a way to entice you to join them, and with our in-depth knowledge of the electricity market, we’ll be able to get you the best deal, and make sure your discounts actually save you in the long run.
  • Renewable energy plans that are available, if any. Some electricity providers are more environmentally conscious than others, so if this is something you care about, we can make sure you find a supplier that matches your values. While energy plans from 100% renewable sources may not be available yet, once they are, we can make that happen for you.
  • Special terms and conditions that could impact your energy contract—this one’s important because let’s be honest, we don’t all read the fine print, do we? We’ll make sure to note any hidden fees, like charges for moving house; any conditions, such as losing discounts or special rates for forgetting to pay your bill on time; and any special terms that may end up making it hard to switch onto a new contract at a later date.

Want to get a better deal on your electricity bills?

At ElectricityWizard, we do all the hard work for you. When you call us we’ll compare electricity rates in Victoria against our preferred suppliers available in your area, to find you the best rates and the best and help you select a great plan for you to 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?

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