According to a report, on average, Australians spent about $386 on electricity and $282 on gas every three months. There are different aspects like location, energy use, different types of charges, tariffs, fees, discounts that go into your energy bill.
How to Find the Best Energy Deals in the Market?
Even when switching a plan, you might have to pay an exit fee. Hence, choosing the best energy deals offered by various retailers could be an overwhelming task. The article will attempt to make the process of choosing an energy deal best suited to your requirement.
Know Your Usage Details and Current Plan
You first need to understand your current plan thoroughly, the different charges and tariffs applied. When do you use electricity and gas the most, day or night? How big is your household? How many people are living together?
You can find in-depth details about the charges and tariffs under the ‘Usage and service calculation’. You should be looking for a plan according to your usage requirements. There is no point in you being forced to lower your energy requirements or pay for more than you are using.
Electricity Metre
Next, look into the different types of tariffs offered by the retailer. Every kilowatt-hour (kWh) of electricity you use is charged a certain amount, known as a tariff.
The different types of tariff offered are:
- Standard rate tariff
- Time-of-use tariff
- Controlled load tariff
- Demand tariff
With standard rate or single-rate tariffs, you pay the same rate per kWh used irrespective of when you use that energy.
Time-of-use tariffs offer different energy rates during different times of the day. You will be charged more during peak hours when the demand is high and less during off-peak hours. For example, the tariff will be lower overnight and on weekends. Controlled and demand tariffs are charged for specific appliances and houses with smart metres, respectively.
Compare Different Types of Plan
There are third-party websites that let you easily compare plans online. Location plays a vital role as the energy market in Australia is regulated in different ways. When comparing plans, the key factors you should look at our tariff rates, supply and usage charges, billing period, and fees.
Also, check if the retailer offers good customer service. You can browse through customer reviews online to get an insight into the quality of service provided.
Choose an Energy Plan According to Your Requirement
Now that you have all the information at hand, you choose an energy deal that offers the best savings. For example, if you have a big house, you would benefit from a plan with low usage charges. On the other hand, opting for a plan with low supply charges would be cost-saving if you live alone.
If you already have a smart or interval metre, you could switch to a time-of-use tariff and make the most of the off-peak rates for savings.
Choosing one of the best energy deals for your house becomes easy with the correct information in hand. Start with scrutinising your current energy plan, understanding the tariff rate, charges and energy units used. Then, compare bills online from different retailers.