What You Should Look For When Switching Electricity Plans

how to compare electricity plans

So,you’ve gone ahead and finally, decided to make the switch to a different electricity plan for your home or office. You are going to call the provider to initiate the process but are you sure you’ve researched well enough? A hasty decision in making a switch when it is regarding something as important as electricity supply can be problematic. It is always best to compare electricity plans before making the move.

But often, people find themselves puzzled over all the reviews. Let us walk you through the things you should keep in mind while thinking about making a switch in your electricity plan.

  1. Check for an exit charge

Before switching the plan here’s what you could do. Take a look at your current electricity contract to make sure you have no exit charge before you start looking for new plans. Even if you do, it is usually a minimal sum of money that is lower than your average bill.

  1. Compare the metrics

It is best to do this step after you have pulled out your electricity bill for the last few months. Take a look and note down certain things that you would be comparing — demand charge, usage charge, and the daily charge. You would also need to note the kind of tariff you are being billed under. These metrics are often used by companies and are common knowledge which is why they are mentioned in your bill. They are also present in reviews, for instance, if your provider is Energy Australia, the Energy Australia reviews will contain a detailed table of all of these essential metrics. Once you’ve managed to note these numbers down, you can start comparing them to other providers to see where you can save more, based on how much electricity your premise consumes.

  1. Be smart about switching the plan

You must make a switch only if you have thoroughly looked up the new plan. As we said, making hasty decisions at times like these is pretty risky. Go for the plan that benefits you — not just the one that is the cheapest plan for you but instead, look at the big picture. Keep in mind that your area, providers available in your area, the amount of power you consume and the extra charges, all play a significant role in the electricity plan which will prove to be the most efficient for you.

Billing options, discounts and deals, fees, charges, and benefits of membership are the aspects of an electricity plan that you should look at since they make a plan the cheapest for you.

After that is a simple step, which is just making the switch. Call your chosen electricity provider and ask them to come to your place to make the switch for you. The process typically doesn’t take long.

Often people are afraid of making a switch as they imagine it to involve a massive heap of paperwork, take days for the switch to happen, think that switching costs money or that they would be without any electricity during the switch itself. All of these misconceptions, though valid, can be untrue in the case of few good providers. It is a safe and easy process that doesn’t require any extra charge unless you are making a switch in your electricity plan before your contract expires. Make an informed and smart choice, and keep more cash in your pocket.

Do an energy comparison today.

About Amanda

I love to buy a lot of products for the home, and dissect them out. I split them into duds and winners, and share the findings here on my site. As a reader of my site, I'm aiming for your next purchase to be an informed and inspired one.

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