At a glance:
- It can be daunting to choose between all the different electricity plans and discounts available in Australia.
- There are different types of electricity plans, for example, the fixed-rate plan, the variable-rate plan, and the market offer plan.
- With Select and Switch, comparing and switching to a better offer for your electricity is easy, simple and takes under 5 minutes.
It doesn’t matter where you are in Australia, you may wonder how to avoid being caught off guard by your electricity bill. Finding the right electricity deal is a crucial first step.
It can be daunting to choose between all the different electricity plans and discounts available in Australia. But not to worry; we’ve got your back! Whether you’re looking for fixed-rate plans, discounts or other rewards and benefits, there’s always something out there. Finding an affordable and appropriate energy plan for your needs is not as difficult as it used to be!
How? Well there is an easy way to find the best deal for you. By using the Select and Switch free comparison tool! Basically, they are like a matchmaker for energy plans. All you need to do is enter your details and energy usage, and the tool checks and calculates what electricity rates are available in your area. Allow it to find the best plan for you; it’s that simple! So, what are you waiting for? Now is the time to compare deals and find yourself a winner!
Different types of plans
Also known as a standing offer, a standard plan is offered by all energy providers, as its rates and conditions are regulated by the government, and the energy retailers legally have to provide a standing offer as part of their energy licence terms. There are usually no discounts, incentives or promotions to sign up for a standard plan or standing offer.
A standard retail plan might apply to you if you’ve been at the same location for a long time, your previous market offer has lapsed or expired, or you have yet to change to a market retail plan before.
Market retail plans are generally cheaper than standard retail plans because government-set prices are often higher depending on where you live.
Market retail plans:
Market retail plans offer consumers more choice and flexibility and are offered by competitive energy providers. The rate of these plans might be fixed or variable, depending on the provider, and they may offer various discounts and rewards. As well, ‘fixed term’ in energy plans means that the plan is limited to a certain period of time.
Energy retailers set the prices for market retail plans, which can be changed at any time, even after purchase. Your retailer is responsible for notifying you if your energy price is going to change, which they will generally do by sending you a letter, sometimes with your bill, in advance of the rate change so that you have time to look for another energy provider if you wish.
Comparison between a fixed rate and variable rate
There are different types of electricity plans, for example, the fixed-rate plan, the variable-rate plan, and the market offer plan. There are benefits and drawbacks to each type of energy plan.
Energy bills with fixed rates provide customers with reliability and security since the rate is set for a specific time period, usually one or two years. Regardless of how the economy or energy prices change, the rate will remain unchanged during this period. Consumers may not find a fixed-rate plan to be the most economical option when market rates fall. There are less of these fixed-rate plans and offers available in recent times due to the evolving circumstances in the energy market with wholesale prices.
Alternatively, variable rate plans give customers more flexibility because energy usage rates fluctuate. Accordingly, the rate may change over time based on several factors, including fuel prices and supply and demand. A plan like this is best suited for customers who are capable of tackling all the uncertainty and managing their energy consumption accordingly. Consumers can mitigate the possibility of higher bills by closely monitoring the market and comparing rates with other providers regularly.
Market offer plans are a type of variable rate plan that provides the lowest rates available in the market at any given time. Market-based plans charge variable rates for energy usage in response to changes in market conditions and energy prices. Compared to other types of plans, this type can offer customers substantial savings, but it also involves a considerable degree of risk since the rate charged can vary widely.
Different types of discounts
Existing customers’ discounts
Australian energy providers offer a variety of discounts and promotions to encourage existing customers to remain with their energy provider. Some of the most common types of discounts and promotions are:
- Pay on time: You can receive a discount on energy rates if you pay your bills on time. These are less common than they used to be.
- Direct debit payment: You can receive a discount on energy rates if you set up automatic payments by direct debit.
- Dual fuel: The combined energy bill of customers receiving both gas and electricity from one provider can qualify for a discount.
- Online billing discounts: Customers who receive their bills and manage their accounts online can receive a discount on their energy rates.
- Referral: Customers who refer friends and family would be eligible for a discount or credit on energy bills.
- Loyalty: Long-term customers can receive a discount on their energy rates.
- Seasonal promotions: Energy companies often offer promotions and discounts in the summer and winter to encourage their customers to reduce their energy usage.
New customer discounts
Some of the common discounts and promotions offered to new customers include:
- Sign-up bonuses: These types of bonuses, such as cashback rewards or vouchers for popular retailers, are often offered by energy providers for new customers.
- Discounts on usage charges: The first 12 months of service are usually subject to discounts on usage charges from some providers.
Additionally, newly registered customers may also be eligible for pay-on-time, bundle deals, and referral program discounts.
Current promotions and deals available from brands that Select and Switch compares *(these are subject to change)
- Dodo Energy: Bundle Internet and energy to save $10 in NSW and VIC. NSW and VIC new residential customers can take advantage of it.
Bundle discount: Get $10 off your new or existing NBN plan when you bundle electricity or gas.
- Simply Energy: There are a variety of location-specific sign-up deals available from Simply Energy.
Members of the NRMA or RAA in NSW or SA are entitled to a 1% energy discount on their energy plan when they choose either the “Simply NRMA” or “Simply RAA” plans. The benefits are bigger in WA, only on gas plans. When you pay your gas usage charge on time, you’ll receive 50% off with the Simply Blue Perks plan. Furthermore, you will receive a 12-month membership to NRMA Blue and discounts on holiday park reservations, groceries, and fuel. In addition, they also provide certain perks to seniors and Big 4+ members.
- Energy Locals: New and existing Energy Locals customers can Refer a Friend, and the promotion offers a $50 credit on your bill and your friends bill once your friends account is set up and live.
- 1st Energy: Receive up to $100 in rebates applied via two $50 credits, one of your 5th monthly bill, and the second on your 11th monthly bill. Total rebate amount varies depending upon the energy plan you choose.
- Alinta Energy: Access to the Alinta Energy Rewards discounts with up to 48% off movie tickets, up to 33% off adventures and attractions, 10% off dining experiences, up to 50% off home appliances and electronics and a whole lot more. The Sports Pack Energy plan also offers up to 12 months access to Kayo basic subscription as long as you stay with Alinta.
Negotiating with your provider
Negotiating with your current electricity provider is a good way to save money on your energy bills. Here are a few tips on how to successfully negotiate a better deal with your provider:
Gather your energy bills:
Review your energy bills and note down any relevant information, such as your average usage and peak and off-peak periods.
Be friendly and courteous when you contact your provider. Let them know you are seeking to reduce your electricity costs and would like to see if there is a better deal or offer available.
Being friendly is important, but being firm is equally crucial. If they cannot provide a better deal, let them know you are considering switching providers.
Be open to compromise:
It is possible that your provider cannot meet all of your requirements, but they may be able to come up with a compromise. Regardless, make sure your deal is fair.
Know your options:
Research other providers and see what they have to offer. When negotiating with your current provider, you can use it as leverage.
How to get the best electricity deals when moving to a new area?
When you move out of a place you have lived for some time, you might be sad to leave your friends, neighbours, and favourite restaurants behind. However, settling down in your new place and, more specifically, sorting out all the utilities, like water, gas, and electricity, is indeed stressful.
It can be overwhelming to dive into the unknown, especially when it involves money.
No one wants to pay more for electricity than they need to, but it could easily happen to you when you don’t know how to shop for energy deals.
Here are some tips that will help you get through the confusion of electricity deals and settle into your new place:
Research, Research, Research
Good research always helps when you feel out of place. Research does the job of filling the gaps in your knowledge. You can talk to your neighbours about available retailers, use the internet, or simply use the Select and Switch website, which offers a free energy comparison tool.
The internet is the most significant source of knowledge we have, so utilise it when searching for electricity deals. Try comparing the best electricity provider in your area with the Select and Switch comparison tool. You will be able to find a list of providers in your area with whom you can talk about your energy requirement or use the tool to compare and sign up for the best electricity offer available.
Compare Electricity Prices
Getting a good deal on your electricity isn’t as challenging as people make it out to be. You just need to have the confidence to negotiate with providers. Also, if you think they are not offering you a good enough deal, you don’t have to hesitate to say no to companies.
When you ask for a quote and chat with a retailer, you are not obliged to lock in a deal with the same provider. The Select and Switch website is free and available on which you can compare electricity retailers, explore your options, compare electricity prices, calculate savings, and pick the best one.
Get Professional Help
It can be exhausting to find the best electricity provider, negotiate with them and deal with all the paperwork, especially when you are in an unfamiliar place. It’s okay if you are not used to doing all of these things yourself; Select and Switch is here to help you find the best electricity deals on the market.
The professionals won’t merely help you get the best electricity deal; they will also help you save on a range of household bills.
You can also use their free moving home energy comparison service to find out the electricity rates of providers in your area. Select and Switch is Australia’s best energy comparison platform and management company, and they will work hard for you to help relieve the stress of searching for an energy provider. All you have to do is contact them, and their friendly and experienced consultants will help you find the best electricity deals for your new place.
Apart from electricity, Select and Switch can also help you with gas, phone, and internet. If you are shifting to a new place and need someone to take care of your energy connection or other utilities, then Select and Switch is just a call away!