Compare Electricity Suppliers

Comparing electricity suppliers and providers, as well as rates, can be a complex, time-consuming process but can be well worth the effort, so if you’ve never taken the time to compare energy providers before, there’s a good chance you are paying a lot more for electricity and gas than necessary.

The Cost of Electricity

According to the Australian Bureau of Statistics, the cost of electricity has increased at almost four times the rate of inflation over the last five years. Between 2005 and 2010 in some capital cities, the price rose by more than 50 per cent.

Comparing Electricity

When you do sit down to examine which provider can give you the right deal, these are the points you need to consider:

• What are the peak and off-peak rates for each provider?
• What is your average household usage?
• What is the supply charge for each provider?
• What is the green energy rating for each provider?
• Will a new provider offer you a discount for switching? Some providers will offer an ongoing 5-7% discount on services, while others may provide an upfront discount of up to $300.
• Are you prepared to be locked into a contract and, if so, for how long?
• Will you have to pay cancellation fees if you wish to change providers again

Electricity & Gas Bundles

If your home has both gas and electricity, it can be easier and cheaper to bundle both services with one provider. This is often referred to as ‘dual fuel’. Not only do you only receive one bill to keep track of, but the market is also highly competitive, with some providers offering an annual rebate of up to 11% on your annual bills if you stay with the company and also pay your bills by the due date.

The flipside of this, however, is that you also need to be aware of any cancellation fees for early termination of your contract.

There are discounts and savings to be had by shopping around for your electricity provider  - using iSelect makes it quick and easy.

Use iSelect’s electricity comparison tool to find a deal that’s right for you.