How to Find Cheaper Gas and Electricity Deals?

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3 years ago

Energy costs are changing all over the country. Electricity and gas prices are decreasing due to government initiatives such as Big Stick legislation and Default Market Offer. If you are someone who’s constantly looking for the best gas and electricity deal for your property, your first step ought to be comparing energy rates and plans across various suppliers in your area.

According to a report, Australians, on average, paid $386 for electricity in 2020, which was less than what they paid in 2019. So if you want to save by switching to a cost-effective energy plan, the article will help you.

How to Find Cheaper Gas and Electricity Deals in Australia?

Know What You Are Paying For

Your gas and electricity bill typically has two types of charges. One is known as the daily supply or fixed charge. This is the cost applied for delivering gas and electricity to your house, even if you do not use it.

The other charge is known as the usage or variable charge. This is the cost applied according to the gas and electricity you use. For electricity, the amount will be charged cents per kilowatt-hour, and for gas, the amount will be charged cents per megajoule.

You might also see other charges like peak, off-peak and shoulder. 

Understand Your Energy Requirements

How much gas and electricity are you using on average? Do you live in a large household or an apartment for two people? What time of the day do you use the most energy?

Tracking energy requirements is essential as it can help you compare prices and offers on a plan. For example, if you live by yourself and use minimal energy, a plan with low supply charges would work best for you. On the other hand, a family of five would benefit from a plan that has low usage charges.

Choose a Tariff Plan According to Your Requirement

For gas, the usual tariff plan offered is a single or flat rate. However, you might see additional usage costs charged per day, month or quarter. Some retailers also include seasonal costs, for example, during winters, when the demand is high.

The four types of tariff plans offered for electricity are single rate, time-of-use, controlled load, and demand. Depending on the plan, you can pay a standard rate or variable rates according to your usage throughout the day. 

You can apply for a single rate plan with a standard electricity metre; other tariff plans will require you to install a smart or interval metre.  

Compare Energy Deals Online

Once you have estimated your energy requirement, you can compare plans from different retailers online to find the best gas and electricity deal. In addition, there are third-party websites that provide you access to all energy plans available in your location. 

When comparing, look at factors like supply and usage charges, rate per unit, billing options, discounts, late payment fees, and exit fees.  

If you want to save on energy bills, start understanding your current requirement and how much you are paying. You can then compare energy plans online to get the best gas and electricity deal. The 10 minutes you spend comparing plans could go a long way in saving you hundreds of dollars in energy costs.

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