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  What Should You Know When Comparing Electricity Plans for Your Home

  What Should You Know When Comparing Electricity Plans for Your Home

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If you are looking to save on your monthly electricity costs, shopping for the right tariff can be difficult. Electricity plans vary widely across Australia, and choosing one that works best for your needs requires careful consideration. 


It doesn’t have to be complicated or take up much of your time if you know how to go about it. Here are some essential factors worth considering when you compare electricity plans.


‘Free’ Gifts Equals Costly Deals

People often assume that ‘free’ gifts offered with an electricity plan mean they will pay less for their usage. However, many providers offer discounts off usage rates to attract customers, but these discounts may well be only modest. 


The so-called ‘free’ gifts are only a tiny percentage of a large bill in many cases. So before signing up for an electricity plan with a free gift, you should always check the price of the gift and compare it to the price of the plan without one. 


Often this is where people end up paying more or getting less value from their energy usage. In some cases, these ‘free’ gifts may even end up costing more than what they’re worth due to hidden costs such as connection fees on your electricity bill that apply during sign-up. 


You may find out that you paid much more for something that’s already been paid off.


Know Your Usage Requirements Before Comparing Offers

Knowing your electricity usage requirements is crucial when you compare electricity plans to ensure you end up with the best deal. You must take into account factors such as:


Any appliances that use large quantities of energy, particularly during peak periods; The overall size of your home (including the number of people living there); Whether or not you plan on doing renovations soon; Any special needs like air conditioning.


Most electricity providers are willing to offer more competitive rates for customers who can demonstrate they have used less than a certain amount of energy over the last 12 months. 


You may be eligible for special tariffs and discounts based on your usage. Also, check your eligibility for government electricity rebates. For instance, the government offers rebates for seniors.


So if you find yourself frequently paying large bills every month, then compare offers and see whether switching could save you money in the long run.


There Are Many Electricity Providers Out There, So Why Only Compare Electricity Plans?

It’s important to note that there are electricity providers in Australia other than the big 3: Energy Australia, Origin Energy, and AGL Energy. If you haven’t considered using a smaller provider and comparing their deals and offers with those of the more prominent brands, then now is the time to consider doing so.


Smaller providers may not offer as much variety in tariff options or customer service as large ones, but they can still be very competitive with their rates. In many cases, they may also have more incentive to keep your business if their tariffs expire after 1-3 years.


In addition, small energy companies often find creative ways to pass on savings from bulk purchases onto customers, which can help you save money in the long run. This is important to consider when you compare electricity providers since they often have more incentive to keep you as a customer when their tariffs expire.


Electricity Providers Are Often Holding Sway Over You – Don’t Let Them

See Also

One of the most important things to remember about energy providers is that they are there for one purpose only: Selling electricity at the highest possible rates to make a profit. 


Many gifts with big-name offers are designed to convince customers to sign up for expensive usage rates after their initial ‘free’ period expires.


As such, it pays not to put too much faith in what they tell you and compare your options. It’s better to make an informed decision based on what you know about your energy usage needs instead of blindly trusting salespeople who are only worried about their next sale. 


They may even be more willing to negotiate with you on sign-up offers if they see that you’re smart about the way you use electricity.


Final Thoughts

Australian electricity providers often have a lot of sway over customers looking for new plans. Still, it pays not to let them push attractive deals down your throat without comparison shopping. 


Electricity companies are usually there for one reason only: making money by selling power at the highest possible rates. As such, it pays to be aware of this and shop around before signing up for expensive rates after the initial ‘free’ gifts expire.




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