Saving Electricity Costs by Swapping Energy Providers

Over the past four years, the costs for electric services have dramatically increased in Australia. No doubt, this increase has greatly affected your household budget, and forced you to look for alternatives to help you reduce these costs and save money. To help curb these rising costs, the Australian government has allowed for greater competition among energy providers in most states, including New South Wales.

If you live in this area, or any other qualified region, you should take steps to compare energy providers in your area to see if you are getting the best rates possible. Finding the provider that offers the best rates for your household can help you save as much as $300 in just one year.

You Current Energy Consumption
Before you start shopping around, it is important that you look at your current electric costs and usage. Pull out the past several bills and determine how much electric your household uses in a normal billing period. To check to see how your usage level compares to others living in your area, you can use the Australia Energy Regulators electric usage calculator. This will give you a baseline for your average usage amount. You also want to look at your bill and take note of all the additional fees and charges that are included in your bill. Keep note of this information because you will need it to compare to other energy providers.

 
Compare Energy Providers
Now that you know how much you are currently paying for your electric services, you can compare that rate with other suppliers in your area. An online comparison service company often provides the fastest and easiest way to compare electricity in NSW or any other state or territory. Comparison sites generally list all the licensed providers that offer services in your specific area and provide information about their rates.

While the overall rate per usage is the most important aspect to look at when comparing providers, you also want to check for any additional fees that will be included in your billing. In addition, consider any extra services your current electric provider offers that you want to maintain, such as flexible payment options or a discount for early payments. See if the new provider offers the same, or comparable, benefits. This will help you make a better comparison between the various companies.

Swapping Electric Providers
Swapping electric providers is a very quick and easy process that can be done in just a matter of minutes. It is important to understand that swapping electric providers will not disrupt your current distribution of electricity. Your electricity will continue to be delivered by the exact same distributor, it will just be billed through a different provider. You are also eligible to swap your electric power whether you own your property or rent, as long as you are paying for the electric. The only exception would be if your rental contract bans you from swapping.

Before you make the final switch, be sure to read through the entire contract. Pay close attention to the length of the contract and if there are any exit fees if you change providers before the end of the contract period. Take your time and research all your options through an online comparison service company. You may find that your current provider is already offering you the lowest price available, but it is just as likely that you will find better rates and be able to save a lot of money in the coming years by swapping.

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