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How can I compare energy deals from different retailers?

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If you’re not sure what energy plan you are on or are looking for a better deal on your energy bills, you can start by having a conversation with your retailer and find out if you’re on the best offer they have available.

Once you’ve done that it might be a good time to compare offers from other retailers. Switching to another retailer could save you money and It doesn’t take long to see if there’s a better deal out there for you.

Why compare energy deals?

All retailers sell the same energy, but the plans they offer to you are different in costs and features.  As energy prices rise it is a good time to check if there is a better offer out there that suits your household or business needs

How to compare energy deals

The easiest way is to visit the government comparison site (or call their helpdesk) as they list all offers which are generally available to you. If you can, have your bill ready in either paper or pdf format, but if you don’t have one that’s ok too!

If you’re a small business you can also use these comparison sites, but note you will need your bill details, and in Victoria you must have been at the premise for at least 12 months.

Victoriawww.compare.energy.vic.au or call 1800 000 832
NSW, SA, ACT, TAS, or QLDwww.energymadeeasy.gov.au or call  1300 585 165

There are also a range of private businesses that offer price comparison websites. While these do compare some offers from some retailers, they do not always include all available offers and do not always feature independent advice.

Before you start

To help with some of the questions you may be asked, it helps to locate some key information

For electricity

Your NMI Number or National Metering Identifier (See example)

For gas

The billing period for example 22 April to 20 July and the total amount used for that billing period (example)

If you don’t have your bill, or don’t want to share your data you can simply choose the options below and will then ask some simple questions about your home like ‘do you have a pool’:

Victoria‘I’m moving so I don’t have a bill’
NSW, SA, ACT, TAS, or QLD‘continue with no bill’

Comparing plans

Not everyone is looking for the same things in an offer, for example, an online-only plan may sound great to one person and horrible to another.

No matter your preference, there are a few things generally that are helpful to know and compare.

The big number on the side

Based on the information provided this is the estimated cost you would pay per Month, Quarter or Year if you chose that plan. It is an easy way to compare based on an estimated cost

Exploring the offer

Under ‘plan information’ or ‘view offer’ link, you will find more detailed information:

Pricing:

Here you will see the ‘usage’ rate– the price you pay for how much energy you use and the ‘supply’ charge how much you are charged per day for energy to be supplied to your home. You may also see the terms ‘single rate’ or ‘time of use’ tariffs

  • Single rate means you are charged the same amount for your energy at any time of the day. This is most common.
  • Time of use means you are charged different amounts for your energy depending on the time of day. For example, on a Monday evening when you are cooking dinner it may be more expensive to use energy, compared to in the middle of night or on weekends

Are the charges fixed or variable?

Fixed means the rate you are charged as part of the plan won’t change for the period stated.

Variable means, the rate you are charged as part of the plan can change from time to time, usually once a year. 

Fees:

For example, fees for receiving the bill in the mail, fees for paying late, using a credit card or exit fees. Fees such as a fee for a ‘move in’ may be applied when you are moving to a new property, not if you are simply switching to a new retailer.

Some energy plan contracts will have an exit fee for leaving early, this is most likely if you are leaving a ‘fixed term’ contract. If you’re unsure if this applies to you, you can contact your current retailer before switching to find out.

Eligibility requirements:

Some plans have conditions such as:

  • Paying by direct debit
  • Receiving your bill by email only
  • Paying a membership fee
  • Being a member of a particular club or organisation

Incentives:

Are there any upfront credits or incentives that appeal to you?

I’ve decided, now what?

• Call or go to the retailer’s website and sign up to your chosen plan. Here you will be asked questions like how you like to receive your bill, or whether you have a concession. Your new retailer will do the rest.
• Within a few days you should receive a welcome email or postal information that includes your contract details. If you’re not happy, you can switch back at no cost within 10 days.

If you require life support equipment or have applied recently for any government rebates, please let your new retailer know.

If you are in an embedded network (can be the case if you are in an apartment complex) you may not be able to switch retailers. If unsure, check with your energy retailer

Download this factsheet by clicking on the image above