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Electricity Company Comparison

Don’t settle for an average electricity plan when you could have one that’s tailored to your needs. GoSwitch’s electricity company comparison tool helps you find a plan that matches your energy usage, budget, and preferences so you can enjoy lower bills and peace of mind.

Getting To Know the Australian Energy Market

Written by Clint Robinson, GoSwitch CEO

Published 3 October 20249 mins read

In Australia, the energy market is made up of different players: generators that produce electricity, distributors who deliver it to your home, and retailers who sell it to you. This market is overseen by the Australian Energy Regulator which ensures fair play and competition.

Each state also has its own energy rules and regulations. In Victoria, for example, the Victorian Default Offer sets a benchmark price for electricity, helping Aussies get a fair deal. Whether you’re in New South Wales, South Australia, Tasmania, or South East Queensland, understanding your local electricity market is the first step to finding the best energy plan for your needs.

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What Influences Electricity Prices?

Electricity prices aren’t set in stone—they can change due to a few different things. Here’s what you need to know:

Supply and demand: Just like any product, the price of electricity goes up when demand is high and supply is low. This is why we have peak and off-peak pricing, with higher rates during times of high demand.
Government policies: The government plays a role in setting prices, too. In Victoria, the Default Market Offer sets a reference price that retailers can’t exceed. In other states, there are standing offers that work in a similar way.
Wholesale costs: The cost of generating and transporting electricity (measured in kilowatt-hours) affects the price you pay. This cost can vary depending on things like fuel prices and network upgrades.
Environmental schemes: Programs like solar feed-in tariffs, which pay you for excess solar energy, can also impact overall electricity prices.

Understanding these factors can help you make sense of your bill. For instance, if you’re on a time-of-use tariff, you can shift your electricity usage to off-peak times when prices are lower.

How To Read Your Electricity Bill

Electricity bills can be confusing, but understanding them is key to managing your energy use and costs. Your bill includes a few main parts:

Your bill outlines your electricity usage charges (measured in kilowatt-hours or kWh) and the rate tariff you’re on. These charges reflect the amount of electricity you’ve used and the price you pay for it.

Let’s take a closer look at the types of charges and tariffs you might see:

Usage charges: This is the main part of your bill, calculated based on your electricity consumption (kWh).
Daily supply charge: A fixed daily amount to cover the cost of supplying electricity to your home.
Single rate tariff: You pay the same price per kWh, no matter what time of day you use it.
Time-of-use tariff: Different rates apply for peak, shoulder, and off-peak times.

Understanding your energy bill is the first step towards managing your energy use and finding ways to save.

What To Look For in Electricity Companies

With so many energy retailers and providers out there, choosing the right one can feel overwhelming. Here are a few key things to consider:

Energy prices: Of course, price is important. Compare the rates offered by different retailers, keeping in mind that the cheapest option isn’t always the best.
Contract terms: Look out for things like exit fees, which can sting if you decide to switch providers later on. Some retailers offer flexibility with no lock-in contracts, while others may have fixed benefit periods.
Payment options: Many retailers offer discounts for paying by direct debit, so be sure to factor that in.
Customer service: You want a provider that’s easy to get in touch with and will help you out if you have any issues.
Additional benefits: Some retailers offer rewards programs, discounts on other services, or even contribute to environmental initiatives.

At GoSwitch, we make it easy to compare all of these factors and find the energy provider that best suits your needs and budget.

GoSwitch’s Top Electricity Providers in Australia

At GoSwitch, we’ve partnered with Australia’s leading electricity retailers to bring you a range of competitive and reliable energy plans:

1st Energy: Known for their competitive rates and focus on renewable energy options.
Origin Energy: One of Australia’s largest energy providers, offering a variety of plans to suit different needs and budgets.
AGL: A trusted name in the energy market with a reputation for excellent customer service.
EnergyAustralia: Another major player, offering innovative energy solutions and a range of discounts and rewards.
OVO Energy: Committed to sustainability, offering 100% carbon-neutral energy plans.
Blue NRG: Specialising in solar and battery solutions, helping customers make the most of renewable energy.
Dodo: Provides simple, straightforward plans with no lock-in contracts or hidden fees.
Sumo Energy: A newer player in the market, known for their competitive rates and online-only service.

Of course, this is just a small selection of the many electricity retailers we partner with. We can also help you compare plans from smaller suppliers not on this list. Our goal is to make it easy for you to find the perfect energy plan to suit your needs and budget.

Choosing Dual Fuel Energy Plans

Dual fuel plans are a convenient option for managing your home’s energy needs. They combine both electricity and gas services into a single package, often at a reduced cost compared to separate contracts. Many major energy providers like AGL, Origin Energy, and EnergyAustralia in Australia offer these combined services, simplifying your bills and potentially lowering your overall expenses.

Opting for a dual fuel provider allows you to deal with just one company for both utilities, making account management and customer service inquiries more straightforward. Whether you’re looking to switch providers or start a new service, considering a dual fuel plan could be a smart move for cost-effective home energy management.

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Green Electricity Options for Eco-Friendly Living

Keen to reduce your energy use and do your bit for the environment? Green energy plans, powered by renewable sources like solar power and wind, are a great option. By switching to a green plan, you can significantly reduce your carbon footprint and support the growth of clean energy in Australia.

Many energy providers, including some of GoSwitch’s partners, offer green energy options. Some even let you sell excess solar energy generated from your own solar panels back to the grid. This not only benefits the environment but can also help offset your energy costs.

Choosing green energy is a simple yet impactful way to make your home more eco-friendly. With GoSwitch, you can easily compare green energy plans and find the perfect one for your lifestyle and budget.

Key Questions To Ask Before Switching Electricity Providers

Switching energy providers can be a great way to save money, but it’s important to be prepared. Here are a few key questions to ask potential new providers:

What are the contract terms? Are there any lock-in periods or exit fees? Can I switch plans if my energy usage changes?
What happens if energy prices increase? Will my rates change? Are there any price guarantees in place?
Do you offer any rebates or incentives for new customers? Many energy companies offer special deals to attract new customers, so it’s worth asking about.
How do you support customers with solar panels? If you have solar panels, you’ll want a provider who offers competitive feed-in tariffs.
What is your customer service like? Are they easy to contact? Do they have a good reputation for resolving issues quickly?

By asking these questions, you can gather all the information you need to make an informed decision and switch to a provider that’s right for you.

Making the Switch to a Better Energy Plan

Ready to make the switch to a better electricity deal? It’s easier than you might think! Here’s a quick rundown of the steps involved:

Compare energy plans: Use our free energy comparison service to browse a wide range of electricity plans and find the best energy deal for your needs.
Choose your plan: Once you’ve found a plan you like, simply sign up online or over the phone. We’ll take care of the rest.
We handle the switch: We’ll notify your old provider and take care of all the paperwork, ensuring a seamless transition to your new plan.
Enjoy your new plan: Sit back, relax, and enjoy the benefits of your new electricity plan.

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Compare Plans From Top Electricity Companies with GoSwitch

Ready to find a better energy deal? With GoSwitch, it’s easy to compare electricity and gas plans from top providers in your area. Whether you’re in NSW, QLD, ACT, VIC, or SA, simply enter your postcode, and we’ll show you a range of options tailored to your needs.

Our free price comparison service shows you the estimated annual cost, contract terms, and any special offers for each plan. No jargon, no hidden fees, just straightforward information to help you make an informed choice.

So why wait? Take control of your energy bills and start comparing plans today with GoSwitch. You could be surprised at how much you can save!

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FAQs

Which electricity provider is the cheapest?

There isn’t a one-size-fits-all answer, as the “cheapest” provider depends on your location, energy usage, and preferred plan features. However, GoSwitch can help you compare electricity plans from different providers to find the most affordable option for your specific needs.

How can I save money on my electricity bill?

Saving on your electricity bill involves a combination of strategies, such as reducing energy consumption, switching to energy-efficient appliances, and choosing the right electricity plan. GoSwitch can help you compare plans and find one that fits your budget and lifestyle, potentially saving you hundreds of dollars each year.