USEFUL TIPS WHEN COMPARING ENERGY PROVIDERS

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If you are in an area that has more than one energy provider, it is a good idea to compare them. Do not ever think that your current provider is adequate. There are a few things that you need to look for when comparing them. Your needs will be different than the house at the end of the block, or the farmhouse at the end of your lane. Match your needs to the provider and go with whichever one gives you what you want at the best price possible.

  1. Accreditation-Check with the North-South Wales (NSW) Fair Trading website and make sure that the companies that you are considering do not have a ton of complaints or grievances filed against them. A cheaper company may not be worth switching to if they do not offer a good service.
  2. Current Plan-Read through your current plan and write down the charges for each section. There will be a general usage charge that will be billed, as well as a daily supply charge. Check to see which type of plan you are on and analyze your specific situation. Changing to a different type of plan may save you money. A single general usage plan is exactly as it says. You will be charged a set amount for all your power consumption. The multi-flat usage rate allows for stepped pricing that varies with use. The final plan type is the variable-rate plan, which has a variable rate depending on when you use power. If you use power during peak times, you will be charged more.
  3. Compare-Read through the plans and see which one fits your needs the best. Then you will need to compare the plans from other power companies. Use a website that will do an electricity comparison for all the companies in your area. When checking the comparisons, you need to look for various charges and information. The rate of kWh that they charge is one of the biggest aspects of the charges that you need to check. Fixed charges, discounts, and the cost of late payments need to be checked. Billing details, such as how often the charges are added to the bill, should be scrutinized. Read through the clause regarding the length of service and how long your rates are locked in. The last step when comparing rates is to check through the contract and see if there are any other added terms or conditions. When comparing them all write everything down in columns so you can easily look at the charges of the different company’s side by side.
  4. Incentives-Call your current provider and discuss the fact that you are thinking about changing suppliers and tell them why. See if they will give you any discounts or incentives to stay with them. If they want your business, they will make it worth your while to stay with them. If not, cancel your service with them and go with the next provider that will give you better pricing.

The bottom line for you is to get the best service at the lowest cost. Be sure to check all the aspects of the service, though. The flat fee may be less, but they could get you by jacking up the daily supply charges. 

Disclaimer: This content does not necessarily represent the views of IWB.

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