Comparing electricity providers? Here’s what to consider
Created: Mon, 28 Sept 2020
The Australian electricity market offers a lot of options when it comes to the number of Electricity Providers available for you to choose from. But with options, comes competition and this can make you feel pressured from constant advertising, clever tracking and highly desirable offers. Let alone feeling any kind of assurance that you’ve chosen the right Electricity Provider.
With so many options, how do you choose? We've compiled the top 3 reasons Australians use to compare Electricity Providers so you can choose the right one for you.
1. Are they Australian owned and operated?
Being Australian is important to me. Electricity for Australia that is created in Australia, where the profits aren't going overseas is what helps me choose between Electricity providers.
Number 1 on our list really speaks to Australia's inherent ‘mateship’ culture. While the concept of loyalty and support isn’t unique to Australia, ‘mateship’ sure is! As loyal as ‘Dog’ is in Mad Max 2, Aussies like to compare Electricity Providers based on whether they are Australian owned and operated, and if they keep their profits on our red shores.
This handy and regularly updated list is a great way to find out if your current or future electricity providers are Australian owned and operated.
2. Do they invest in Renewable Energy?
I know electricity providers can't power my home with 100% renewable energy right now, but in the future they will be able to if they start investing now - that's what is most important to me
Deciphering whether an Electricity Provider actually invests into Renewable Energy in a meaningful way (and not for a marketing campaign) is confusing for the best of us - credits, licenses, offsets, planted trees, etc, how are you meant to know what is good or not. In it’s least confusing form, here is our go-to shortlist of what we deem as good and meaningful renewable energy investments:
- Owns or invests in large scale renewable energy sources.
- Actively buys long-term contracts from renewable sources;
- Provides carbon offsets as part of their products;
- Includes a percentage of GreenPower in their products with no major cost impact;
- Actively encourages lower/cheaper usage through technology;
- Offers batteries, solar or other technology to help reduce emissions.
Please note: This is the strict criteria we set for the electricity providers we include on EnergyIQ.co. When you upload a bill and compare plans there, you will only see the best plans from these providers who proactively invest in renewable energy.
3. Membership Rewards
If I’m changing electricity providers, subscriptions, insurance - whatever, I will always do it if the membership reward is high enough value for me to justify the effort it takes to do the switch!
Gift-cards, bill credits, add-on subscriptions - there can be many varied rewards that are on offer when you switch Electricity Providers. Typically Electricity Providers will promote these offers front and centre on their website and can be found by doing a quick google search. Most rewards are received after the first billing period has past. In terms of how to choose, what that really comes down to what you value most.
What else do Australians care most about when comparing Electricity Providers? Here’s our full list:
- Australian Owned and Operated
- Invests in Renewable Energy
- Membership Rewards
- Local Customer Support
- No Lock-in Contracts
- No Exit Fees
- Flexible Payment options
- Monthly Billing
- Great Price / Rates / Value
- Competitively Priced Green Plans
- No Hidden Fees or Charges
- Wholesale Energy Rates
- Great Customer Service
- Easy Account Management
- Simple Sign-up
- Switch Easily
- Smart Technology
- Easy to Use App
- Greenpower Options
- 100% Carbon Offset / Neutral
- 100% Renewable Offset
- Renewable Energy Generator
Now, there’s no harm in staying with your current Electricity Provider, but if you’ve been with your provider for more than 4 years it’s highly likely you’ve been pushed to the back of their customer list and you’re stuck with rates higher than those customers at the front of their lists.
There are approximately 800,000 Australians who are paying more than they should so it really does pay to compare a recent electricity bill to find out just how much you might be over paying.
Author: Ross from EnergyIQ
How much money could switching to renewable energy save you?
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