The Australian market is dominated by three energy companies popularly referred to as the “Big Three.” However, energy consumers believe switching energy providers is too stressful and is restricted by red tape involving contracts and formalities. In many cases, that might be right, but at the same time, consumers might miss out on some savings by maintaining an old energy provider.
There are several reasons why a homeowner or business would want to switch electric companies, from the need to lower electricity bills to interest in better customer service. Switching energy providers can be a bit daunting and confusing, and that is why this article will answer ten frequently asked questions about switching energy providers.
- Can energy providers be switched?
If you currently live in a state that regulates energy consumption, meaning there’s only one provider for the residents in that area, switching won’t be possible. Individuals are allowed to choose their energy provider for deregulated energy states, allowing electricity providers to compete by offering different rates and terms like perks to get your business. This is where electricity compare is important as it highlights such perks and rates from varying energy providers so that you can make a properly informed decision on which provider to use.
Property owners in deregulated markets have the right to change electricity providers. Electricity suppliers may differ, but the state’s public utility commission regulates the delivery of electricity, which means that even when you switch electricity providers, the delivery method is unchanged. A different provider changes the electricity fees based on the new terms of the contract. Making a switch of providers often doesn’t require an on-site visit from a technician and does not come with inconvenient service interruptions.
In Australia, the states with full electricity deregulation include; Victoria, South Australia, South East Queensland, and New South Wales.
- Why should energy service providers be switched?
As discussed before, a major reason people switch energy providers is to save themselves some money. Using electricity compare tells you what energy provider provides electricity that suits you at the cheapest rate. Other reasons may be; poor customer service, billing cycle, and sometimes people change to try something new.
- Will switching save me money?
First things first, everyone can’t save money by switching providers. Citizens of states blessed with regulated energy prices might not be opportune to save from altering their energy provider. Also, switching energy providers may come at a price, commonly referred to as exit fees; hence, one should consider this before switching energy providers.
- What’s the cost of switching?
Switching cost is usually dependent on the contract with your current energy provider. Some energy providers charge exit fees, while some do not. This can be determined by reading the energy provider’s terms of services. When paying exit fees, one needs to factor in the fees when calculating how much would be saved by switching energy plans.
- Will switching make me live without an energy connection?
It’s a terrifying thought living several days without electricity and gas. Thankfully, during the switch of energy providers, there are no interruptions.
- How long does the switch take?
Switching usually takes only a few days.
- Am I required to change plans when moving?
Not at all. You may only need to change energy providers when moving out of the coverage area of the electricity company. Nevertheless, if you’re considering moving, it might be time to look for a new energy plan. An energy comparison can help you find premium offers in your area.
- Can I change my mind?
The “cooling-off” period, usually ten days, is the time frame given if you want to change to a different plan or return to the former. The cooling-off period is typical for residents but may differ in organizations.
- What if my new retailer raises the price?
It is why electricity compare is a necessary tool. Offers from energy providers may differ and last for only certain time frames. However, it is made easy by using energy compare to see what rates and offers are available and for how long? Since rates can be changed, you can use energy compare plans at any particular time to find a better option.
- Do I need a new meter?
Change of meter is only necessary when the energy plan or company requires a smart meter.
