Australia’s energy consumption varies depending on your home size, lifestyle choices, and several other factors. The average Australian household consumes about 19KWh, amounting to $2,500 each year, which makes the energy market attractive to many business stakeholders. The competition can be a good thing because it compels energy retailers to offer reasonable prices, and Australians can get the best deal on the energy market by comparing prices and retailers. Here are some things to look out for in an electricity comparison.
Australian energy retailers can set their prices and provide offers based on their understanding of the market. There’s very little interference from governing bodies, and retailers set prices based on the quantity used and other charges established by the preferences in your contract.
Generally, tariffs can include variable and fixed charges. Variable charges measure every unit of electricity or gas you consume, and it can be on a daily basis or for a period. As for fixed charges, utility providers calculate them as part of all energy bills. For this reason, understanding the elements providers consider when billing is a great way to choose the best-fitting option. The good news is that you can opt to use price comparison sites like iSelect to help make things easier. When using the iSelect compare electricity feature, you simply need to share a few details about your household and the tool will reveal the best options.
Credibility is essential in selecting your electricity provider, so try to do business with providers with licenses and operating permits from governing bodies. You can also check with the Australian Energy Regulator for information on energy retail laws to further understand the credibility of the tactics used by various companies when selling electricity. Some cities deem it legal for retailers to door knock and sell their electricity plans and financial service products. Other cities like Victoria frown on such marketing tactics and have plans to phase out unsolicited call center interactions. Regulating bodies also have established hours for phone call sessions, days for agent visits, and essentials that agents must carry at all times. Knowing these arrangements can help you differentiate a scammer from the best provider for your electricity needs.
It’s easy to have an issue with your provider, but how the company manages the situation will determine if you will stay or abandon ship. Energy retailers with an efficient customer support team listen to their clients and tailor plans to their energy needs. Some retailers even have multiple packages for new customers. So, it’s essential to look out for those perks before switching providers. You can also consider cancellation terms and conditions for customers. Some contracts may have restricting clauses if you decide to cancel after a specific period. Others may also debit your account if you choose to run down your contract or cancel it entirely. Therefore, checking a provider for their terms of service before making your final choice can be a good idea.
Corporate Social Responsibility (CSR)
Energy fuels our everyday lives, but there’s no denying that the mass production of specific energy sources is tied to years of irreversible effects on the climate and environment. Given this, energy providers often deploy CSR strategies to show their commitment to sustainability and a safe global environment. Such CSR efforts can be part of the list of things you look out for in an ideal energy retailer.
Generally, electricity comparison services afford you a new way of choosing the best electricity retailer on the market. However, as you compare, it’s essential to prioritize your budget and energy needs on a daily basis.