5 Things to Consider in Choosing Energy Provider
If you live in NSW, VIC, SA or southeast QLD where energy is deregulated, it is possible to save 20% or more on your monthly electricity bill by switching to another energy provider.
Choosing the perfect energy company is not easy. It can have a huge impact on your comfort, safety, and most of all, your budget. Energy retailers these days offer products and services that may look very similar to one another and are really confusing to weigh each pros and cons. But there are major factors you can consider to help you wisely choose your next energy provider.
- REPUTATION AND HISTORY
Most providers spend a lot on advertisements, and their marketing tactics are genius. They offer very-low charges that climb up after a few weeks or months or by hiding significant fees. Be sure to choose a company that promotes integrity, and reliability.
Do your own research. Read the company’s history and background. If you find out that they have been servicing the industry for quite some time, it is a sign that you should consider them.
- RANGE OF SERVICES
When searching for the best energy company, consider the ones that has a wide range of gas and electricity services and their areas of expertise.
If they are offering services for different sectors such as residential, commercial or industrial, this indicates that they are more skilled, experienced and capable than those who only work with few sectors. You will be more confident and less worried as they can handle all of your energy needs in the present and future.
- PLANS AND CONTRACTS
There are 4 types of discounts that retailers may give you to save money on your bill.
- Direct Debit discount – when you let the provider take the money for your bill straight from your credit card or bank account.
- Bundling discount – when you get both gas and electricity services from the same provider.
- Paperless billing discount – when you only get your bill through email.
- Pay on time discount –when you pay the full amount on time.
Keep in mind as well that rates for shorter-term plans are little higher compared to long-term. So think hard and consider your energy needs before you sign to a 6, 12 or 24 months contract. In addition, you may be under with this 2 types of contract. Lock-in contract is when you have to pay for exit fees while open contract is free with it
- RATES AND PRICING
Another factor to consider is, should you sign with a fixed rate or variable rate?
For a fixed rate, you will be charged the same price for each kilowatt-hour for the entire plan. This is suitable for consumers who use energy during “peak” (daytime) hours. The bill is more stable, and it’s easier to predict energy costs.
With a variable rate, your rate per kilowatt-hour is possibly changed according to the market price. You can save more if the rates go down, on the other hand, you can pay more for electricity if it goes up.
It is highly recommended to choose a supplier that offers Fixed-Rate to avoid bill fluctuations but considering Variable Rate is not a bad idea.
- CUSTOMER SERVICE AND RESPONSIVENESS
It is very important to have them available 24/7 to answer all your queries and issues about electricity.
One strategy you can do to determine if the energy retailer responds immediately is to contact them for a free quote or consultation. Take note how they quickly get back to you, and how well they communicate. These indicators can be your basis on how they will treat you in the future.
On top of these factors, make sure you can save money with your chosen provider. Find out the best energy supplier in your area who offers competitive plans through Econnex.
Visit Econnex and enjoy the benefit of switching!