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Electricity Plan Comparison Australia
Folks in South East Queensland, NSW, Victoria, South Australia and the ACT have a range of electricity providers to choose from. Many are happy to offer competitive rates, discounts and other incentives to get your business. Taking the time to review plans from different retailers could result in big savings on your energy bills each year.
Because bills can sometimes be a bit confusing, we’ve put together a handy guide to help you find a good deal on electricity. Here’s what you need to consider when comparing electricity plans.
Before you start comparing electricity plans and providers
While you’ve got your bill handy, be sure to check your current electricity rate by looking at how many cents you are paying per kilowatt hour (c/kWh).
Next, take a look at your tariff, which is the pricing structure your retailer uses to charge you. There are three types of electricity tariffs:
- Single rate. You pay the same rate for electricity you use, day or night.
- Time of use. You pay the highest rate for electricity you use during times of peak demand, you pay less during shoulder periods (the time between peak and off-peak), and you get the cheapest rate in off-peak times.
- Controlled load (or two rate). You pay a discounted rate for using specific appliances – for example, an electric water heater.
Bear in mind that rates and tariffs may vary depending on where you live and the energy providers in your area.
How to compare
There are a few other things you’ll need to take into account when comparing electricity plans. These include:
- Extra fees and charges. Will you be charged any late fees, establishment fees or additional charges for paper bills? Are there fees for exiting or moving?
- Billing cycles. Will you be paying for your electricity use monthly or quarterly?
- Available discounts. Can you save money by paying on time or via direct debit?
- The contract type. Will you be locked into a contract or are you free to exit at any time?
Also, make sure you think twice before taking an enticing introductory offer. For example, there’s no point signing up to a contract because they are offering a $100 credit if you’ll be locked into a more expensive rate when the credit runs out.
How iSelect can help
*We don’t compare all energy providers or plans in the market. The availability of plans will change from time to time. Not all plans available from our providers are compared by iSelect and due to commercial arrangements or availability, not all products compared by iSelect will be available to all customers. Some plans are available only from our call centre and others are available only from our website. Energy plans are available only for properties located in eligible areas of Victoria, New South Wales, South East Queensland, South Australia and ACT. Click here to view our range of providers.