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What's going on in the energy world? We've got it covered

Energy Locals price drop: How much can you save?

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Energy Locals' electricity plans are cheaper than ever before following a recent reduction in rates.

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Your solar power may soon cost you more: Here’s how to avoid the “sun tax”

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Paying a "sun tax" will be optional in the future, but you might lose out on some savings.

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Dreading bill shock this winter? Here’s how to minimise home heating costs

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SPONSORED: Real, actionable tips on how to get lower heating bills every year.

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Tasmania electricity prices drop 1 July. How much will you save?

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Households in Tasmania frustrated with high electricity bills will welcome the upcoming price drop which could save them up to $145 per year.

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Energy bills to fall from July: Here’s how to lock in your savings

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This will see price cuts for 727,000 customers on a standing offer with their energy providers.

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This is what COVID-19 did to your electricity bills

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Despite households consuming more energy in 2020, this year has seen a decline in electricity bills – with the potential of a further $200 per year in savings.

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Compare Guide: How to find the right electricity or gas deal

Understand how energy prices are calculated

Energy plans may appear complicated, but prices depend on just three main things.

If you can understand these elements, you may be able to find yourself a cheaper deal.

• Supply charges. This is a flat fee that you are charged for being connected to the energy network, measured in c/day.
• Usage rates. This is how much you'll be charged for each unit of energy you consume, measured in c/kWh. Securing lower usage rates is vital as they will make up the bulk of your energy bill.
• Discounts. These are usually a percentage discount on some or all of your bill, though they can take other forms. Discounts may require special conditions or they may only apply for a strictly limited time. Factor in the limits of a discount when you're comparing energy plans.

Picking a great energy plan is about more than the listed cost. Low usage and supply rates are important, but understanding your bill and how costs are calculated empowers you to make your own good decisions.

Look deeper than the price

Discounts can make a plan cheaper, but they can also be misleading:

• They're usually temporary, expiring after 12 months.
• They can be conditional, and be removed if you don't meet the condition.

 
Comparing base rates is always better. Consider these scenarios:

• 1. A cheaper price
• 2. A larger discount
• 3. Lower usage rates
• 4. A lower daily supply charge

Understand your bill

Understanding your energy bill means you understand your energy consumption and can figure out if you can get a better deal.

Here's what matters on your bill:

Bill period.

Usage in period.

Peak and off-peak usage.

Relative usage to others in your area.

Controlled load usage.

Usage and supply charges.

For a more in-depth look at understanding your bill, check out our detailed guide.

Do the big energy brands matter?

Around 65% of Australian residents buy their power from one of the "Big 3" energy retailers: Origin Energy, EnergyAustralia and AGL.

Competitive rates, but not always the best

Smaller retailers often beat out the big three on price, but they remain competitive. You'll often need to stay on top of expiring benefit periods to keep your plan prices low.

They have good customer service

The big energy brands score well on their Finder customer service rating.

What is Finder's customer service rating?

Finder's customer service rating is a score assigned to retailers based on how easily customers can sign up and how responsive they are to issues.

It's based on factors like these and others:

• Call centre service
• Website/app usability
• Online help and support

 
For a full breakdown of the customer service rating, see our methodology.

What should green-conscious customers look for in an energy plan?

Most of Australia's electricity comes from non-renewable sources (e.g. coal burning). However, you can still make a greener choice when choosing an energy provider by looking out for:

• GreenPower. You can pay extra with some providers to guarantee that some amount of your energy is from renewables. Learn more in our GreenPower guide.
• Carbon offsets. Providers may offer "carbon neutrality" on their plans. This means they purchase carbon offsets for all the power that you use — your energy still produces emissions.
• Finder Green Award. The Finder Green Awards are handed out to businesses making the biggest contribution towards a green future, including energy retailers, among others.

 
Our individual provider pages go into more detail about green ratings.

What should solar owners look out for?

Solar owners not only produce some of their own power, but can feed the excess back into the grid for a rebate on their energy bill.

This rate is called the "solar feed-in tariff". While higher feed-in tariffs could be nice, watch out for inflated usage rates to see if it will actually save you money – check our guide to the best plans for solar feed-in tariffs for your area.

Before you switch plans

Here's a quick checklist:

• Resolve any problems. If you're switching due to an issue with your current provider, see if it can be resolved. You can always address serious complaints to the energy and water ombudsman for your state.
• Contract terms. Ensure you don't have to pay an exit fee to switch from your old plan.
• Discounts. Watch out for conditional discounts and realise that they will likely expire after 12 months.
• Concessions/rebates. You might be eligible for one. See our list of energy rebates for every state, or look out for concession-only plans like AGL's seniors plan.

 
If you aren't moving house, your retailer will handle the actual switch. They'll ask for some information and then do the rest, which is explained in detail here.

Moving house?

You can either:

• Stay with your current provider. This is only sometimes an option, depending on where you're moving.
• Switch to a new one. Moving house is an excellent opportunity to switch to a more competitive plan. Compare your options to find one that suits.

No matter what, you should try and arrange an energy switch at least a week ahead – it usually takes about 3 business days to get connected.

Energy guides

• Average energy bill in Australia

  Are you paying too much?

• How to read your bill

  Know what you're paying for with our guide to reading your energy bill.

• Energy tariffs and fees

  Understand the extra costs on your energy bill.

• Save on energy

  Tips to save energy in and around the home.

5 tips to save on energy

One of the easiest ways to save on energy costs is to switch to a cheaper energy provider. Here are a few more tips to lower your bills:

• 1. Look for discounts

  It's no secret that many energy providers offer discounts. These discounts can be as simple as getting a bill reduction for paying your bills on time or signing up online. If you notify your provider that you want to switch, you may even be offered a discount to stay. Whatever discounts your provider offers, make sure to read all of the terms and conditions, as some offers only apply if you meet certain requirements.

• 2. Bundle your energy plans

  If you're looking to connect both electricity and gas, you might be able to get a discount by signing up for both services with the same provider. Bundled plans also offer the added benefit of simplifying your bills into a single invoice and making it easier to budget for utilities.

• 3. Apply for concessions and rebates

  Some providers offer concession discounts for pensioners, veterans, low-income households or households with specialised medical equipment. Check out our guide to concessions and rebates in Australia to find out what your options are, check eligibility requirements and learn how to apply.

• 4. Take advantage of real-time energy monitoring

  Some providers offer a smartphone app or desktop software that lets you track your energy use. These apps can help you understand how much energy you're using and the real-time cost of using specific appliances. This can help you understand exactly what you're paying for and reduce your energy use to lower your bills.

• 5. Opt for monthly billing

  Many providers now offer monthly billing or bill smoothing. With bill smoothing, the retailer estimates your annual electricity costs and sends you invoices for more manageable monthly payments. While this won't reduce your annual energy costs, it will help you avoid bill shock with quarterly invoices.

Frequently asked questions

• What type of package should I get?

  There are a number of different tariffs available for residential customers. Most households will probably end up on a general supply tariff. If there's usually nobody home in your house between the peak period of 4pm to 8pm on weekdays, then you might be interested in a "time of use tariff". As always, consider your individual needs and compare your options before signing a contract.

• If I have solar panels, does this limit my options?

  Sometimes, yes. Electricity retailers can offer specialised plans for residents with their own solar power. When selecting a plan, you will have to notify your retailer of your current solar system set-up.

• Do I need my bill to get a comparison of quotes?

  Having your last electricity or gas bill is very helpful when getting quotes from providers. If you can't supply this, having an estimate of your bill and the payment period can get you started.

• Are there any establishment fees for starting up a contract with a new company?

  For both gas and electricity, fees will apply if you don't already have a meter or connection to the gas mains. In these cases, it might be quite expensive to get the necessary infrastructure and connection installed. If you are switching to a new company from a pre-existing relationship with another before your contract is up, there may be associated exit fees to pay. Contact your current energy provider to learn more about those.

• Are there any fees for switching electricity or gas companies?

  This will depend on your provider. To find out whether your provider has exit fees, you can call them or check out the details of your package online.

• How quickly can my electricity be connected?

  If you already have a meter at your home, it will take around three business days to get connected. It takes longer if you don't have a meter, though.

• What is the difference between an energy supplier, distributor and retailer?

  • Suppliers generate the electricity or gas via various green and not-so-green processes.
  • Distributors take the energy from the suppliers and distribute it out to residents and businesses. The distributors are often responsible for maintaining the infrastructure including power lines and pipelines.
  • Retailers are the companies who sell you the power from the distributors and whose names you are probably aware of: AGL, Dodo, EnergyAustralia and so on.

• What type of light bulbs are there and which is the most efficient?

  There are four main types of light bulbs: incandescent, halogen, fluorescent and LED. Typically, LED is the most efficient. You can find a more detailed breakdown in our guide to light bulbs.

• How is energy measured?

  • Gas is measured by its capacity to release heat energy and this unit is called a joule (J) (which might sound familiar from the amount of heat energy released from food). For instance, it requires 4.2 joules to heat 1 gram of water by just 1ºC. Your gas usage is measured in thousands of joules (kilojoules – KJ) or more likely millions of joules (megajoules – MJ).
  • Your electricity usage is measured in kilowatt hours (kWh). A kilowatt is 1000 joules used up in a second. So a kilowatt hour is 1000 joules used every second for a whole hour. That's 1 kilojoule * 60 seconds * 60 minutes = 3,600. So a kilowatt hour uses 3,600 KJ (or 3.6 MJ).

• What are peak hours for electricity and why do they exist?

  Peak and off-peak hours refer to the times when there is the most strain on an electricity network. To reduce the strain on the power grid, power companies introduced off-peak benefits. These provide cheaper electricity prices during periods of lower demand to incentivise customers to try and spread the load of their electricity usage. Typically, peak and off-peak times are as follows:

  • Peak times: 3pm to 9pm weekdays.

  • Off-peak: 10pm to 7am all days.

  • Shoulder: Intermediate times between peak and off-peak.

• What are feed-in tariffs?

  If you have a solar panel system connected to the grid, you can earn money for supplying electricity to energy companies. The feed-in tariff defines how much you earn for the electricity your solar panels feed back into the network.

Need some help? Speak to a broker

Note: Not available in the Northern Territory, Tasmania and Western Australia.

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