The new year is the perfect time to start fresh. Whether you’re a business owner or you’re looking to make positive changes at home, switching energy providers can have many benefits.
The Australian market is booming, and as such, more and more energy companies are coming up with great rates and enhanced services. Deregulation is opening the industry to a range of independent providers and retailers, leading to fierce competition between energy retailers. This in turn leads to greater benefits for consumers. Is this the perfect time for you to make the switch?
There are several reasons why you might consider switching your energy provider, although most people opt to change for the simple reason of saving money.
As the cost of living increases, we’re all looking to save money where we can. Many Australians are paying too much for their energy bills and in 2020 it was found that over one million Aussie households couldn’t afford to pay their bills. Many companies are providing cheaper tariff rates that could in turn result in big savings on your quarterly bills.
Get daily business news.
The latest stories, funding information, and expert advice. Free to sign up.
You might also consider switching if your current provider doesn’t focus enough attention on green energy, or if you’re looking to add more variety to your account such solar or hydro power.
What to look for
When making a comparison between energy providers, pay attention to plan prices, special deals and savings opportunities. You should also take into account the tariff rates per kWh, fixed supply charges, single rate tariff and discounts.
For example, do they apply to the entire bill or for usage only? Do late fees apply if you don’t pay on time, or can you access discounts if you do? Does your energy provider offer solar feed rebates? What is the length of the contract and are there exit or moving home fees?
How to make the switch
Before you change providers, do your research. Start by finding a company that can assist with the comparisons and process. Check the plans and tariffs mentioned above, any fees the providers might have and ensure you are ready to make the change.
You’ll find a range of plans available so find the most affordable, look for bundle deals and bonuses and consider personalised plans.
By choosing the right company for the switch, you can save yourself money and stress in 2021.
GoSwitch is a free advisor for Australian residential and SME energy consumers, providing a single point of contact for energy comparisons between providers. GoSwitch also manages the switching process and provides ongoing support.