How to find the best electricity plan for your household

Finding the best energy plan for your household should be at the top of your ‘to-do’ list if it is not already. Australians could save over $200 dollars a year just by being smart about what type of plan they pick. In this article, we are going to run through how to find the best electricity plan, what you need to be able to do it as well as things to consider ensuring you get the best deal

 

How do I find the best plan?

It is as simple as using a price comparison website. I bet you did not think it was going to be that easy? Price comparison websites are a quick and easy way to run comparisons against multiple companies without having to do extra research yourself. Whether it is for car insurance or energy plans; a price comparison website cuts out the unnecessary time and paperwork, and enables you to be strict with what you do and do not want from an electricity provider. Companies that are recognized by accredited price comparison websites are legitimate businesses, so you can use a price comparison tool without fear that you are going to be with an untrustworthy supplier.

 

What do I need?

Using a price comparison website can be easy, but if you do not have the right details to hand, you may end up getting an inaccurate quote and wasting lots of time. You will need the following:

  • Previous energy bill: This will have the detail of what you have used in the last month or quarter, depending on how you are billed. If you have paper bills, this is fine too. An online bill will enable you to backdate as far as when the contract started, so you can have a deep understanding of your usage, and get an accurate comparison.
  • Your current contract: Similar to your energy bill, this will detail the small print that you obligated to when signing up with your previous provider. You want to make sure that you do not lose out on any of the perks that you may have had with your previous supplier. For example, if you have pay on time discount with your current provider, you would want to ensure that it was possible on a new plan, too.
  • Address and personal details: This is more for the price comparison website to give you suppliers relative to where you are living in Australia.
  • Budget: Be prepared with the budget you are willing to spend on your energy.

 

Things to consider so you can get the best deal:

  • Property size: This will determine how much energy you use to run the house. The larger the property, the more expensive to run in most cases.
  • Who else is paying towards the bill: Do not switch provider until you have consoled with others in the house who will be contributing.
  • Time spent in property: If you are in a rental rather than a homeowner, the time left in the property is important to consider to make sure you get the best plan for your household. For example, a variable rate plan may be better as you do not have any extra fees, especially if your lease is due to end.

 

Author: Claire Stapley
Claire Stapley is ElectricityComparison.com.au's Energy Editor, based in Melbourne Australia. Claire is a founding member of ElectricityComparison.com.au News and Energy Team.