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Energy Comparison NSW
From the warm beaches of Sydney and the icy peaks of the rugged Blue Mountains to the serene outback and breathtaking views of the Hunter Valley, NSW is a beautiful state with a rich and varied landscape.
Whether you get a kick out of coastal living, love a lush green rainforest, or prefer the starry expanse of a desert night sky, you can choose almost any backdrop to call home in the Premier State.
Just like there are a lot of options for where to live in NSW, there is also a range of energy providers to choose from.
To help you compare offers and find the best gas and electricity rates for your budget, here’s everything you need to know about energy in NSW.
Electricity deregulation in NSW
In July 2014, the NSW state government deregulated the electricity industry, meaning providers were free to set their own price for power.
This was great news for consumers, and it got even better when four more energy providers barged into the market. More choice means more competition, and electricity retailers are now practically climbing over each other for your business.
In fact, electricity deregulation was such a success, retail gas prices are set to follow suit on 1 July 2017.
So what does all this mean for you? Well, if you’ve been sitting pretty with the same supplier for some time, now might be the perfect time to start comparing offers. Finding a better deal could potentially save you hundreds of dollars, which means more money in your wallet for fun things – like holidays, date nights or pizza.
When reviewing offers, remember there’s more to your energy bill than just the rates. Different pricing structures, contracts and concessional discounts can all impact how much you pay each month.
It might sound like a big headache, but you’d be surprised how easy it is to compare energy providers, find a great rate and switch. To make things even easier, we’ve put together all the relevant and recent information you need to make an informed choice.
Government rebates and discounts in NSW
As well as driving down electricity prices through deregulation, the NSW government also offers a number of rebates to help people cover the cost of their energy bills.
- Low Income Household Rebate.This rebate provides up to $258.50 to electricity customers who hold eligible concession cards issued by the Federal Department of Human Services or the Department of Veterans’ Affairs.
- Family Energy Rebate.The NSW Family Energy Rebate provides a concession of up to $165 to eligible households with dependent children who have received Family Tax Benefit A or B in the previous financial year.
- Gas Rebate.This rebate is available to eligible households that rely on LPG for basic needs.
Comparing energy plans in NSW
- Here are some things to bear in mind when comparing offers from energy suppliers in NSW:
- Which contract are you on?First and foremost, you’ll need to find out which contract you’re under – either market or standard.
- Standard contracts –The price you pay for your energy is set by your retailer and can only be changed once every six months. This contract has no exit fees and you can change to a different contract at any time.
- Market contracts – Under a market contract, you can negotiate rates with your retailer and they may offer additional incentives, such as discounts. If the terms and conditions permit it, the retailer can change the price during the term of the contract.
- What discounts are available?Does the retailer offer any discounts or benefits, such as for making payments on time, paying via direct debit, or for receiving bills and correspondence via email?
- What are the fees?Will you be charged any connection, disconnection or exit fees? Are there any fees for ending the contract early?
- What are the billing and payment terms?How and when will you receive your bill? If you sign a dual fuel contract for gas and electricity, will you receive one bill or two? What payment methods are accepted (direct debit, electronic transfer, post office, Centrepay)? Are there any charges for each type of payment method?
Making energy more affordable in NSW
Renewable energy is a trending topic at the moment – and a major focus for the NSW Government. We are slowly moving away from traditional energy sources – black coal, coal seam gas and natural gas – in favour of cleaner and more affordable alternatives, such as hydro-electricity, wind, solar and biomass.
In fact, the NSW Renewable Energy Action Plan, which was launched in 2013, outlines the state’s commitment to helping achieve the national target of 20 per cent renewable energy by 2020. It details three strategies for attracting renewable energy investment, building community support and growing renewable energy expertise.
The NSW state government is working with local communities to share the ownership of wind farms in order to build a level playing field for electricity trading and continuing to support solar customers.
It seems NSW is on track to becoming a leader in the field of sustainability, which will be better for the environment and our wallets – it’s win, win, wind!
How can iSelect help you find the right energy plan?
Given the level of competition among NSW electricity companies, it’s surprising more people don’t look around for a better deal. Perhaps they think it’s too much trouble, or simply don’t have time to compare gas and electricity prices.
Rest assured that switching energy providers is simple and painless, and your power supply won’t be disrupted during the changeover.
And when it comes to finding the most competitive gas and electricity rates, iSelect is more than happy to do the hard work for you.
We’ll compare offers from our range of energy providers across the state and present you with the options – all you need to do is choose.
Finding the right provider through iSelect is quick and easy. Simply enter your postcode here to get started