How to switch to the best energy provider
Created: Wed, 10 Jun 2020
Are you paying too much for your electricity? If you haven't shopped around, called your electricity provider and haggled for cheaper rates or compared a recent bill, it’s more than likely your answer is yes.
Considering most Australians count their electricity bills as one of the top concerns when it comes to household expenses, it’s surprising that people don’t do their research because there is almost always a better deal to be found.
Why should I switch electricity providers?
Typically, the electricity deal you entered into when you first joined your provider can erode over time as benefit periods end and prices go up (as they inevitably do).
Not to mention there’s the matter of switch tactics or ‘retailer bait’ where large discounts are used to lure you in but then, prices can increase without warning making your original deal redundant - thankfully none of our EnergyIQ retailers are known to do this.
However, energy prices have been trending downwards over recent years and are expected to continue down this path in the near future. Which is great news! but electricity remains an essential service in our homes, so there is an opportunity to maximise the savings and reduce emissions, by switching to a future-focused provider with competitive rates.
Whatever the case, your electricity bill is something you really want to keep an eye on – unless you enjoy paying more than you have to.
Can I change my electricity provider?
Short answer: yes (unless you're in WA)!
Long and more detailed answer (skip ahead if you’re short on time or not from WA), if you live in:
|ACT||Yes||But fortunately there's little variation in pricing as it’s a regulated market.|
|NT||Yes||But there are only two retailers, Jacana Energy and Rimfire Energy, so there is very little variation in pricing as this is a regulated market.|
|QLD||Yes||Only if you live in South-East Queensland.|
|TAS||Yes||But as there are only three retailers, Aurora Energy, 1st Energy, and Future X, there's little variation in pricing as this is a regulated market.|
|WA||No||Unfortunately there is only one electricity provider in WA.|
How do I find a better electricity plan?
1. Locate your recent electricity bill in a PDF (digital) format
Finding a recent electricity bill can sometimes be the hardest part of finding the best plan. Most of the time you will be provided with your recent electricity bill via two methods:
In your inbox - an emailed from your provider and/or
Through your providers customer website/app/portal - you would require an account login to access this.
An easy way to find a bill in your email inbox is to search for your providers name, i.e. ‘Nectr’. This will bring up all emails from your provider, then you just need to find the most recent with a bill attached.
If it’s within a customer website, app or portal which requires account details to login, you’ll want to look for sections for invoicing, accounts or bills. This is typically where you will be able to locate a recent bill.
When you’ve located your recent bill, it’s important to download or export it and save the bill to the device you’re using. Remember where you saved it as you will need to know this for the next step.
2. Upload your bill to EnergyIQ.co
Select 'Upload a recent bill' and locate the bill on your device and select 'Go':
This is where the magic happens. EnergyIQ will read your bill to understand where you live, how much electricity you normally use and how much you have been paying for electricity. It will then present the electricity providers that are available to your home.
3. Choose the best plan for you
EnergyIQ will only present the best plans for you so it’s done a lot of the work for you. But if there is more than one option available, it will be down to you to choose. All of the EnergyIQ Electricity Providers are proactively investing in renewables. This means they’re really good for our environment and will naturally be cheaper than traditional energy (now and even more so in the future).
Select a brand (Electricity Provider) and look through the plan that is on offer to you. We suggest looking at two key areas within a plan:
Price comparison: From this example, the customers bill was $692.36 for the quarter and if they switched to the new plan they are currently viewing, it would cost them $506.70 (going off their consumption). This means there is a savings of $185.66 for the quarter and on an annualised basis could save them $742.64 for the year.
Tip: if you want to skip ahead to the cheapest option for your home rather than looking through all of the plans individually to find the savings, simply choose this option on the brand selection screen:
Provider benefits: Within the plan page you will find the top 4 benefits for each of our Electricity Providers. Do you value if your Electricity Provider has an app so you can track and manage your usage or that they are 100% carbon neutral? This is where you will find that information quickly.
When you decide on the Electricity Plan you think is best for you, now you just need to switch to the new provider. Gone are the days where switching Electricity Providers took 4 phone calls and many hours, on hold. EnergyIQ have streamlined and automated the process so you don’t even have to make a phone call.
How to switch electricity providers
After you have chosen the best plan for you, just select this button and the process is started:
You will then need to enter the standard details about yourself and your property, your payment details and then you will need to confirm your switch. All of this in a record time of less than 2 minutes! In one sitting you can compare your current bill, find a better-suited electricity provider and switch to your new provider in just minutes and all from your couch. Don’t you love technology!
Author: Ross from EnergyIQ