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How To compare electricity plans Sydney

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How To compare electricity plans Sydney

Most of Australia has a wide range of choices when selecting energy plans. With the availability of so many options, it becomes crucial to compare electricity and gas plans Sydney and get the best chance for yourself. 

There are some key factors to be kept in mind while making these choices. It will ensure that you make a mindful decision and go for the plan that best suits you.

Usage pattern

Look carefully and understand how you use your energy. Try to come up with a design. This will include the time of the day when you use the power more or less frequently, seasonal variation, if any, average monthly consumption etc.

Check different tariffs

Different suppliers will give you variable rates per kilowatt-hour (kWh) for other plans. This is because these plans have various inclusions and usage guidelines. Carefully compare electricity plans Sydney and see what works best for you. Also, check inclusions like daily fees, supply charges and connection fees linked with each program. These may come to you as hidden charges later on. It is preferable to know them in advance and work on your plan accordingly. Some of these plans are as follows:

Fixed/Single Rate Plan

It is all in the name. As it says, this plan will bring you a fixed rate per kWh for your consumption. It means you will be charged at the same rate whenever you use energy. It will not change as per the time of the day or seasonal variations. This will provide you with stability and make your budgeting easier. It will also suit you if you use electricity in the same amount at all times.

Flexible Rates Plan

In this, the electricity rates can change as per the market conditions. If the tariff changes, you will have the flexibility to switch plans without any fine. To make the greatest use of this plan, you will need to be updated with changing tariffs at all times. By constantly switching your plans when needed, you can save a good amount of dollars with this.

Time-Of-Use (TOU) Plans

The rates in these plans are totally dependent on the time when you use the energy. The service provider will give you their peak, off-peak and shoulder time slots. If you use your energy during peak hours, you will be charged at higher rates and vice versa in off-peak hours. Shoulder time slots will have a mid-range tariff.

Discounts / Incentives

Aussies love deals. Hence, It is essential to consider them when you compare electricity and gas plans Sydney. Having a good discount can reduce the cost of a high-rate plan. Some major kinds of discounts offered by companies are as follows:

On-time Payment Discount

If you pay your bills on time, the service provider offers you a discount. They do this to attract timely payments from consumers. Be punctual and you can save some dollars.

Direct Debit Discount

These discounts are offered on automated payments. The service provider will take your card details and debit the transaction themselves every month with your pre-approval. This helps you attract discounts and leave you worry less regarding upcoming payments. 

Sign-Up Bonus

You can get this incentive when you opt for a new plan from a novel energy provider. It is extended to pull new customers. Generally, these discounts last for a few initial months or a couple of years.

Go through T&Cs

When you compare electricity plans Sydney, it is vital to check the terms and conditions thoroughly. You must be aware of the contract length, exit fees or any other hidden charges. This will keep you away from any unpleasant surprises later on. 

Count long-term benefits

With the tariff and discounts available, evaluate the long-term benefits of the plan you want. Check the providers that give you energy efficiency advice, green solutions, smart home choices and more. This might be a little costly initially but can go well with your long-term plans. It might also be cost-effective in the future.

Make the best use of a comparison website

With the huge pool of options to consider, it might get difficult for you to settle with a suitable plan. Use an online website called Connect Market and put yourself at ease. They can do all the legwork on your behalf. You need to give them your energy details or simply submit your bill. Connect Market can easily compare electricity plans Sydney for free and get you a suitable plan according to your usage.

By keeping the above points in mind, you can compare electricity plans Sydney efficiently. You will also be equipped to realise your energy goals better and take the necessary steps towards them.