*iSelect does not compare all providers in the market or all products offered by our partners in your area. Not all products or special offers are available to all customers and some may only be available over the phone or on the website. Learn more.
This means savvy consumers in these areas may be able to shave money off their electricity bills. All you need to do is take the time to compare offers from different electricity and gas providers.
If you’ve decided it’s time for a change from your current provider but aren’t sure how to go about switching, the good news is it’s quick and easy. In fact, it can be done in a few simple steps and you won’t be without power at any point during the changeover.
Before we start busting some common myths and misconceptions, let’s take a look at how you go about changing energy suppliers.
It’s a good idea to check whether there are any exit fees on your current contract before you start comparing electricity offers. You may be able to find this information on your electricity bill, or you can call your provider to get the lowdown.
If it turns out you will be charged an exit fee for switching, don’t panic. In some cases, the fee will be lower than the potential savings, but it’s still good to have this information up-front to avoid any nasty surprises.
The next step is to grab your most recent electricity bill and check how much you’re currently paying.
Your bill will be made up of different charges and a tariff, which is the pricing structure used to determine your rate.
Depending on where you live, the charges shown on your bill may include:
Also, you may be billed under one of the following tariffs:
It can be handy when comparing offers to check how many kilowatt hours (kWh) you typically use in a billing cycle and, if possible, during peak seasons – i.e. winter and summer.
The cheapest electricity plan will be different for everybody. It will depend on your circumstances, including where you live, your power consumption, the distributor, and available providers in your area.
With that in mind, getting a great deal on electricity and a plan that works for you isn’t just a case of finding the cheapest rates. Be sure to look at the big picture, including:
Speaking of contracts, you’ll also want to check the type being offered. In some areas you can choose between two kinds of offers – a standard retail offer and a market retail offer. A market retail offer is when electricity providers can set their own prices.
For any commitment-phobes out there, the good news is that many plans these days come with no exit fees.
As always, be sure to check the terms and conditions carefully before signing up for any contract.
When you’ve compared all the offers and found one for your needs and budget, the rest is easy – simply contact the provider in question and they will organise everything for you.
The switching process typically doesn’t take long, but it can vary across providers, so it’s a good idea to check.
Alternatively, if you’re working through a comparison site such as iSelect, we can arrange your sign up on your behalf.
When it comes to switching suppliers, there are a few misconceptions floating around. Here are three common ones you may have heard:
Don’t worry, you won’t be shivering through cold showers, sitting in the dark or missing your favourite TV show. Because you are only changing providers, not distributors, your electricity supply won’t be affected at all.
Your electricity distributor is the one actually supplying power to your property. It is responsible for maintaining the distribution networks, including electricity powerlines and power poles. Your distributor sells the electricity to providers, who in turn sell it on to you.
So, your new provider can access the same electricity supply as your old one, making changing as simple as flicking a switch, so to speak.
Not so – unless you have to pay an exit fee for leaving the contract early, switching is completely free. In some cases, the savings you’ll gain from switching are worth more than the exit fee anyway, so this is always worth weighing up.
Again, this isn’t predominantly true. Your new provider will be able to use the same equipment as your old one, so you won’t have to take the morning off work to wait for the installation crew. Although, please note some solar plans may require installation of a new meter.
We’ll search plans we offer from our range of electricity plans and providers in your area*, so all you’ll have to do is choose one that meets your needs and budget. We’ll even arrange the switch on your behalf.
Best of all, we won’t charge you a cent for our service.
Comparing electricity plans from our range of providers* is quick and easy with iSelect.
Last updated: 27/01/2021