When you want to save money, you’ll look at your monthly expenses and see where you can cut corners. The water bill and electricity bill are two regulars in a monthly budget. With some research, you can do several things to reduce your utility bills. One of these is to get the best energy offer from your energy retailer.
If you’ve been with the same energy retailer for several years, you may want to revisit your contract to see if you’re still getting the best deal.
In this article, let’s take a look at some of the things to consider when comparing energy offers:
- In some regional areas in Australia, there’s only one electricity retailer. If this is the case, make sure that the contract works well with your needs. But in all states and territories excluding the Northern Territory, Tasmania, Western Australia and areas outside South East Queensland, there are energy retailers to choose from.
- Except in the Northern Territory and Western Australia, you have the option to have a market or standard retail contract. A market retail contract comes with a minimum set of terms and conditions, and the retailer is the one that sets the market retail contract price. On the other hand, a standard retail contract becomes the default contract if you weren’t able to look for another one. It comes with a set of terms and conditions that the energy retailer cannot change.
- Look for the usage and daily supply charges and discounts. Are there any exit fees involved if you want to switch retailers sooner? Are there discounts for paying the electricity bill on time?
- You can use an estimator or calculator to help you compare the different electricity and gas contracts from licensed energy retailers. Take note, however, that it is still necessary to check your personal situation and not rely solely on online calculators or estimators as these may have some sort of agreement with certain energy retailers.
- As with anything that comes with a contract, make sure to read the fine print. You can ask someone who knows more about energy offers so you will better understand what you’re paying for. So you can minimize or avoid inconveniences later on.
Got other ideas on energy offers and how to save money on water and electricity bills? Share your tips in the comments section.Read More →