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