Cheap Energy Provider
Post on June 13th, 2015
We’ve made it easy for you to find the cheapest energy provider
ElectricityWizard has made it easier than ever before to see if you can save money on annual energy. You can use our 100% free electricity comparison service to easily find the cheapest energy provider in your local area. Even better, you can make the switch in just minutes, so you can start saving in your annual energy bill.
If you’re ready to save money on your electricity, you can call us directly at 1300 359 779 or fill out the form below for more information. One of our friendly customer service representatives will help you to compare apples to apples to choose a better local retailer to meet your household needs.
If you find the process of energy comparison confusing, you’ve come to the right place. ElectricityWizard will provide you with a quick, easy, and accurate energy comparison in minutes. With us you can make an educated decision on which is the more affordable retailer near you. Call us to make the switch today!
But first, how to avoid a dodgy energy provider
As an energy customer, you may have been contacted by an electricity marketer who tried to pressure you into signing a new energy contract. According to the Energy and Water Ombudsman of Queensland, energy marketers in some States may go so far as to use coercion or false information to entice a customer to sign up for a contract with a new retailer.
A marketer may tell you that your energy supply will be disconnected if you don’t sign up for a new contract. Or, he or she may ask to see your previous energy bills to make sure that you’re getting all eligible rebates. A marketer may also try to ask you to sign on the dotted line to prove that they have spoken to you about a new energy agreement.
Customers are encouraged to be wary about giving out any personal information to a virtual stranger, even if they present themselves as an energy marketer. Before signing up for a new contract, it’s critically important to read all of the fine print to ensure that you as a customer are protected in an energy agreement.
It’s times like these when it pays to trust the experts. ElectricityWizard will make the process of energy comparison easy for you to help you find a potentially cheaper energy provider in a matter of minutes. We will eliminate all of the red tape and complicated jargon to help you find a better electricity deal for your family!
How to find the right (and cheapest) energy provider for you
When you start your search for a new energy provider to go with, it’s important to keep in mind that cheapest might not necessarily mean best. It helps to think of your electricity plan like a long-term relationship: will this supplier give you enough to keep the relationship going strong? In some cases, you may find that spending slightly more on your electricity plan can provide better service and support that makes all the difference to your household.
Basically, it all depends on what you want from a relationship with your electricity supplier. It might be things like:
- Choosing a supplier that aims to get its power from environmentally-friendly energy sources, so you can do your part to reduce your environmental footprint.
- Finding an energy provider that’s locally-owned and operated, to give you peace of mind that you’re speaking with a company that understands your local area, and your needs.
- Discovering a company that does what it can to think outside the box. There are more and more energy companies coming onto the market these days, and some are looking at ways to offer a more streamlined, customer-focused business model, and trying to think differently about the way an energy supplier works.
When you’re doing your research to compare electricity suppliers, think first about what you want them to offer. Have a look at our supplier pages and do a bit of reading on each one. Then read some customer reviews—these help you get an idea of what their service is actually like, from people just like you.
Once you’ve worked out what you want from this relationship with your energy supplier, it’s time to get started comparing electricity prices to find the best and cheapest energy provider who will provide the best service for your household.
Understanding energy plans
When comparing energy plans to find the one that’s right for you, it helps to know what you’re looking at, and what to be on the lookout for. To help you out, here’s what we recommend that you look into when comparing energy plans.
First off, work out what electricity tariff your home is currently on. The typical types of tariffs you’ll find are:
- Single rate tariffs – These tariffs see you charged one set rate for your electricity use, no matter the time of day. They tend to be lower than others, and are a better choice if you use the bulk of your electricity during peak hours.
- Time of use tariffs – You may have head the terms “peak” and “off-peak” thrown around—this is where they come into play. A time of use tariff charges you higher rates when using electricity during peak times, and a reduced rate in off-peak times. You can also occasionally see a “shoulder” period, which is an intermediate rate, and charged during a set time between peak and off-peak hours.
- Controlled load tariffs – Controlled load tariffs are special rates for appliances that have their own individual electricity meter, things like pool pumps and electric hot water systems. While the tariff only applies to the individual appliance, you can have more than one appliance on a controlled load tariff running at your home.
- Feed-in tariffs – This tariff is just for homes with solar panels. If your panels are generating energy, but you’re not using it, this extra portion gets fed back into the electricity grid and you receive a small credit for each kilowatt hour that you supply.
This information will typically be found in the back page or so of your bill, so flip it over and have a look there first. If you can’t find it, give your supplier a call.
When you do look for your tariff, you’ll likely also find a fee called a “service to property charge” or “supply charge”. This what your supplier charges you to have electricity delivered to your home; basically, it’s a rental charge for your power lines, which supplier pays to their energy distributor.
The supply charge will generally stay the same every bill, unless your supplier increases their rates. When comparing rates, it pays to keep in mind that any plan with a suspiciously low supply charge will probably offset this with an increased usage fee, and vice versa.
Comparing energy plans
Now that you’ve got an idea of what you’re getting charged for, it’s time to start looking at different plans and prices and, if need be, contacting energy companies to see what they can offer. Here’s what we recommend to look for, to assist in finding the best rates:
- Confirm Peak Rate/Off-Peak Rate/Supply Charges. Work out at what times you use the most electricity, then find a supplier that provides the best rate during this time. If you tend to use the most electricity during peak times, don’t despair; you can make some easy changes to your usage habits, such as running high-draw appliances like the dishwasher, or washing machine and dryer, later in the evening.
- How much will they increase their rates each year? Most electricity suppliers will keep their rates in line with the CPI, or tell you that there’s no cap. Be sure to stay away from suppliers who say they don’t offer you a price cap, as this can be a sign that they’re going to increase their rates at some point in the future.
- Fees for moving house. It might not affect you now, but it pays to find out if you’ll be charged any fees for disconnection or relocation. Moving house is stressful enough as it is, without having to worry about paying extra on your electricity bill.
- Are there any discounts available? With the amount of competition in the energy market today, suppliers are keen to get you as their customer, so a lot of them will offer discounts on your bill as a way to make their plan seem more enticing. They might offer discounts on things like setting up paperless communication, or organising direct debit for your billing. Be sure to check the terms and conditions of these discounts though, to see the length of the discount, and if there are any hidden surprises they’re not telling you about.
- Does the discount apply to the total bill or just usage rates? This one’s important, as there’s a significant difference in price between a discount off rates, as opposed to a discount off the total bill. Check to be sure which discount you’re getting to ensure it’s actually worth it.
- Will your current retailer offer you any discounts before signing to a new energy contract? Your current energy provider wants to keep you as their customer, so they might be open to offering a special deal to keep your business. If you’re looking to switch anyway, it never hurts to ask.
- Will your new supplier match or beat another company’s offer? This is another tactic electricity suppliers will try in order to keep your business, so use it to your advantage. Simply find a supplier who you want to go with, and ask if they’ll do it. This gives you the opportunity to achieve cheaper rate with the energy provider that suits you.
- Remember that it takes several months to complete the switching process. While switching your plan only takes a few minutes, the process your supplier goes through may take a number of months to finalise your new contract, and you’ll only get billed by your new energy retailer on the date of your next electricity meter reading.
- Pay close attention to your first energy bill with your new supplier. After making the switch, be sure to read over your first energy bill carefully, to ensure you’re getting the right discounts or bonuses, or even the right rate, that you were promised.
It’s a lot to think about, isn’t it? But it doesn’t have to be—we’re here to help.
Contact us to help you compare electricity providers today
Electricity Wizard allows you to quickly and conveniently compare many electricity providers and plans in your area. One of our trained specialists can help you find many great available rates and options in your service region so that you can choose a better plan that meets your needs.