How to Compare Energy Plans in Australia

When you are staring at an expensive energy bill, it can feel like you are locked into a contract that you never signed. However, the majority of residential energy contracts give you the freedom to leave without any exit fees.

With an energy comparison site, you can find an energy retailer that meets your unique needs. You might choose your retailer based on varying features. It could be price, it could be value added rewards. It could be green energy sourcing. It could be the location of the energy retailer customer service team.

Compare energy retailers and identify savings in bill costs, fees, and value-added savings. Shop for energy plans to see the type of savings possible, whether it is through average annual savings or value-added rewards programs. These sites also identify unique features that a company might provide, such as carbon-neutral, green energy, Australian customer service, or an account management app.

If you’d like to switch your energy plan or you want to learn how a switch may benefit you, then consider comparing your energy plan to find the best energy company for your needs. Here are our recommendations on how to compare energy plans in Australia.

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Why Should You Compare Energy Plans?

Whether you are comfortable or dissatisfied with your energy company, it makes sense to shop around. Since the introduction of government reference pricing in July 2019 by the Australian government, the energy industry in Australia has been through many regulatory changes. Theaim of the changes was to ensure that energy price controls were introduced ,to protect you asthe consumer. However, with these changes, many people are still paying too much for their power.

It is good practice to shop around to see the types of pricing plans, contractual options, and value-added rewards available. This is simply good consumer education; by shopping around and asking the right questions, you become more aware of what you are paying for and what your energy retailer’s competitors offer. This can be incredibly powerful as a consumer. Take control and be proud of your decision!

There are a number of energy plans available that deliver rate savings and offer value-added rewards, green energy, award-winning customer service, and much more!

Plan Comparison Checklist

When shopping around for an energy plan in Australia, you want to prepare with a plan comparison checklist.

A checklist will highlight the features that you want in an energy provider:

  • Type of retail contract: Ensure you understand the market retail contract you are accepting. Find out what percentage that the energy pricing in your proposed new plan is below the government reference price (Victorian Default Offer in Victoria, and Direct Market Offer in NSW, QLD, SA).
  • Service options: Service providers have different options for billing frequency, payment options, and fees. Read the fine print and scan for things like credit card and paper bill fees.
  • Discounts and offers: Identifying discounts and offers from an energy provider or an energy bill comparison site can be very financially rewarding. With value-added services, you can actually save a lot more than the difference in the energy bill. Ensure you understand the net price per kwh after discount. Don't be seduced by the discount. The base price is important as well. The net price after discount is what determines your bill
  • Add-ons: In addition to showing you price discounts on the service contracts, some retailers will also offer value-added products like green energy, carbon neutral, vouchers, and associate rewards programs.
  • Features and benefits: Keep an eye for offers that come with key features like an account management dashboard or app so you can easily and efficiently manage your bills. They might even provide tips on minimising energy usage.

Since some of the lingo, processes, and plan details can be confusing, be proactive and educate yourself on what you want in an energy plan to simplify this process.

You may want to adjust your list as you go on. With the right questions in mind, you should be able to identify the features that you want in your energy plan. Then you can filter out certain items during your search and narrow in on the best fit service provider.

Things to Consider When Comparing Energy Plans

Energy plan comparisons are easy on a comparison site. All you need to do is plug your current annual or monthly bill price into an energy plan cost comparison calculator and the software will provide you with plan comparisons. Depending on the comparison site you use, you might only see certain features, benefits, and rewards. Not all comparison sites will provide you with all of the details of each company's offerings. Try to find a comparison site that can clearly present features like green energy, carbon neutral, or value-added rewards.

Compare Energy Plans

You don’t have to feel stuck in an energy plan. Comparing energy plans can help you
reevaluate your financial situation and provide additional savings with value-added services.

If you are thinking about changing your energy plan, find a reliable energy plan comparison service. An online service platform like Comparabill presents the average annual energy cost of energy retailers in your area.

Comparabill paints a clear savings picture to identify plan differences in fees, basic or annual charges, terms and conditions, add-ons, contract type, energy tariffs, benefits, and other features.

One of the biggest perks of comparing your energy plan with Comparabill is the value-added services. Through Comparabill, you can apply value-added discounts to your everyday expenses like entertainment, retail, and groceries. These rewards can provide additional household savings beyond energy savings.

Switch, save, and be proud of your decision.

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