When should I switch energy providers?

In all honesty, just even thinking about the possibility of changing an energy supplier can be a very unappealing idea for a large portion of us, let alone if somehow we find ourselves in the stressful situation of having to actually make that decision!

Facing the inevitable fact that sometimes we need to make the hard choices in life, picking the right moment can be crucial. Crucial to choosing the right provider whose tariff suits your household budget and needs.

So, thinking about switching energy providers? No worries. It doesn’t need to be as stressful as you imagine it to be. We, humans, have the tendency of blowing things out of proportion so better believe us when we say that sometimes change is for the good and you can always find a better deal than your current one.

Read on to find out just when can be the right time to switch providers.

When your deal is about to expire

You should know that your energy provider is legally obligated to notify you that your contract is coming to an end and even provide a precise end date. The timeframe of notifying you is somewhere between 40 to 50 days before your tariff ends. Instead of waiting out for your deal to end, use this information to your advantage so you can find a suitable supplier and switch even before your current contract runs out.

When your provider raises their prices

On the off chance that your provider increases his costs, they should give you a proper notice with a 30-day timeframe providing you the option to switch with no leave expenses.

Although the price increase can happen anytime the supplier chooses, they don’t usually happen out of the blue. There is always a reason behind this decision and is thought through. Energy providers usually increase their prices as a response to the energy cost increase on the wholesale market but sometimes they follow up on their competitors’ rates.

When life happens

Life just happens. Every second of every minute. And throughout any period of time during your life when things are just simply not working out for you and your family, regarding energy provider service quality, life events or moving out to a new place, the change to a new provider could be for the better.

Just know that you don’t need to feel restricted or limited when choosing. It’s an active and open market and there are a lot of energy providers in Australia offering their services. Feel free to let yourself check out any provider and how much would they charge you and what they exactly offer, compared to your current plan and provider.

Author: Cyril Spasof
Cyril Spasof is ElectricityComparison.com.au's resident energy contributor. Cyril is a founding member of the team.