How to switch energy providers checklist

Switching providers does not need to be a stressful task. In fact, it is pretty simple. In this article we are going to run through a checklist on how to switch energy providers and what you should consider along the way!

The switching energy providers checklist:

Before switching:

  • Check what plan you are on: Is it a fixed rate or variable plan? A fixed rate plan will have a set contract in place, where a variable gives you more flexibility to leave the contract whenever you please without a fee. Checking which plan you are on and who is providing you with electricity can help you compare later down the line.
  • Use a price comparison website: This is the best way to outline deals based on your usage and location, as well as how many will be using electricity in the property.
  • Consult with others (if necessary): Do not just switch providers if you are living in a shared household and others need to be involved. Make sure to check that everyone is happy with the switch in electricity provider.
  • Double-check the small print: Check for exit fees and refresh your memory on what your old provider gave you. You should use the small print to compare against new contracts.

Choosing an electricity provider:

  • Pricing: Sounds obvious, but check that the price point is either cheaper, or you are getting more value for money.
  • Contract length: If the contracts are too long and you are unsure whether you want to commit, then do not. If you are anxious about tying into a contract long-term, have a look at variable plans instead.
  • Fees: Check which fees are associated with the electricity provider and if there are any other hidden charges.
  • Green: If you are looking for a plan that is ‘green’ then make sure to check for this, you can usually add a filter for renewable energy when on price comparison websites.
  • Small print: We cannot stress this enough, read all the small print before making a switch.

The switch:

  • Alert your old provider: Call up your provider and let them know you are switching. Take final meter readings where necessary (not having a smart meter)
  • Settle bills: Pay off any outstanding bills and exit fees where applicable. Please note that it may take anything from 1-3 months to switch depending on your exit plan.
  • Know your cancellation period: When switching to a new provider there is a cooling off period where you can cancel with the new supplier. Check what that is just in case you are unhappy with the plan.
  • Enjoy!: Enjoy your new (and hopefully better) electricity plan!

 

We hope that this has given you an easy to follow checklist on how to switch electricity providers successfully. Remember to always use a price comparison website to get the best deals and if doubt, console with your current provider on the reasons why you want to switch, they may end up offering you a better deal!

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.