Switching energy providers in Australia may seem like a daunting task. However, the process has gotten a lot smoother in recent years. With the introduction of various energy comparison sites, you can easily check and compare all the available options in the market and make the right choice. However, you should consider the following steps in order to switch to the right provider for your specific energy needs.

1. Review Your Current Energy Plan

Before you do an energy plan comparison and make the switch to a new energy provider, you need to evaluate your current energy provider and see if they are providing better value or not. Take a look at your latest bill or original energy contract and consider the following things:

  • Current Rates: Checking out current rates can help you get an idea of what rates to look for in the market. There is a good chance that your provider may already be offering you the best deal.
  • Current Energy Usage: This data will help you understand your current energy demands. With a more accurate estimate from your current energy provider, you will be able to compare the plans and their benefits based on your energy usage.
  • Plan Type: It is important that you know whether your current energy plan is fixed or variable. It does not make sense to switch right away if your energy rates are fixed and won't be changing for a few more months.
  • Exit Fees: You need to make sure whether the terms of your current contract mention anything about exit fees. While most contracts do not have any lock-in periods, they may have certain exit fees due to certain conditions.

When you have all these details at your disposal, you are better equipped to research the market. It will also help you find out whether you are already on the best plan available in your area or whether it will be better to switch to another energy provider.

2. Compare to Find a Great Deal

In this step, you need to compare the available energy providers to figure out which one offers more value to your needs. As mentioned earlier, you can find some trusted comparison platforms where you can perform detailed comparisons among all the available options. While comparing the options, remember to keep the following things in mind:

  • Price: Identify the energy plans that cost less than the usual market standard. You can find the reference price on the comparison website, making it easier to identify the cheapest plan.
  • Tariff Type: The tariff type is usually determined by the type of metre you have installed. Make sure you know what type of tariff you are currently using to get an accurate quote.
  • Variable or Fixed Rate Offers: With a fixed-rate offer, you could lock in a single rate for a year without having to worry about price fluctuations. The prices of variable plans generally change once or twice a year around January and July.
  • Fees: Different energy providers have different types of charges. You may find several plans where you do not need to pay additional fees, such as admin fees, the charges of connecting and disconnecting a party to the grid, etc.
  • Green Options: There are several carbon-neutral energy retailers where you can pay a fraction more to get cleaner energy.
  • Solar Feed-in Tariffs: If your home is equipped with a solar PV system, you should also focus on feed-in rates while comparing the energy plans online. Make sure you are getting the best deal for excess energy you contribute to the grid.
  • Other Crucial Features: While comparing, you may come across several plans that offer plenty of rewards points, discounts, and other freebies. Also, you may want to choose an energy provider that offers monthly billing or an app to monitor your energy usage.

3. Make the Switch

While comparing the different energy providers and their energy plans, you are most likely to find a better deal than the one you are currently on. Do your research about the energy retailer with the best value offering and connect with them. You can discuss the new plan you want to take and sign up for it.

You are not required to contact your current provider, although they may check your metre one last time to issue the final bill. The switch is arranged by your new provider, and they will send you a new contract.

Conclusion

The process of switching to a new energy retailer can be time-consuming. So, it is better to consider all the possible outcomes before making the switch. It is also worth considering if your current provider offers great value deals in the market.