South Australia deregulated the gas and electricity market in February 2013, opening the door to increased competition among energy retailers in South Australia.
Because deregulation means companies are free to set their own rates and discounts, SA residents now have greater flexibility when it comes to choosing a gas or electricity plan.
From rates to rebates, here’s what to consider when comparing offers.
In South Australia, you have a choice when it comes to choosing your preferred energy provider. Here are some things to think about when searching for the right plan for your lifestyle and budget:
• Rates. What are the variable and fixed (supply) charges for each supplier you are considering?
o Variable charge. The cost of energy measured in cents per kilowatt hour (kWh) for electricity and cents per megajoule (c/MJ) for gas.
o Fixed charge. The cost of supplying gas or electricity to your home which is not dependent on usage.
• Plan type. Does the retailer offer a standard and/or market contract? Standard contracts come with set terms that can’t be changed, while market contracts may offer discounts along with more flexible terms and conditions.
• Discounts and incentives. Does the retailer offer any pricing incentives? For example:
o An on-time payment discount.
o Discounts for combining your electricity and gas plans.
o A rebate on your first bill when you sign up for a new plan.
• Payment. How are you billed (fortnightly, monthly or quarterly)? What are the payment options? Is a pre-payment required?
• Fees. Are there any connection, disconnection or early exit fees?
• Rebates. Does your household qualify for any power rebates and concessions?
Tariffs also play a large role in how much you are charged for electricity or gas, and will vary depending on where you live, your meter type, and any available discounts.
If your energy bill is giving you a shock every month, now might be a good time to start looking for a better deal. It only takes a few minutes to compare energy plans with Energy Watch, and doing so could reduce your monthly bill. Why not see what you could save?
If you’re in the market for a great energy deal in SA, start comparing offers from some of Australia’s top energy providers now. Or call us on 13 92 82 and we’ll help you find the right plan.