Switching energy providers is simple, but choosing which one to switch to? Not so much.
When you decide to switch energy providers, what changes are the amount you pay and the logo and color on the bill? Your connection and provision of electricity will not be affected. The distributor maintains the grid infrastructure that delivers power to your house which does not change when you switch. Although, it is worthwhile to understand what goes on behind a switch process.
The markets in the states of Victoria, New South Wales, ACT, South Australia, and Queensland are deregulated; hence the residents are able to switch either their electricity or gas providers. In Tasmania, the residents can choose between gas retailers but not electricity, where government-owned Aurora Energy has the monopoly. In Western Australia or the Northern Territory, the market is highly regulated and the residents are unable to choose their retailer wherein their electricity is provided by Synergy and Power and Water Corporation, respectively.
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How does switching contracts work?
You have the choice to switch retailers if you pay higher rates and receive no discounts with your current retailer.
The process of switching providers is relatively easy but before you make haste in switching, do familiarise yourself with what you are receiving at the moment to compare current with potential deals available.
Signing up with a new provider
Choosing and registering with a new provider can be a daunting task, but through our comparison engine, you can easily select the right energy plan suited to your needs. Once you have signed up with a new provider, the connection usually takes up to a maximum of three days. You can contact your new provider if your connection exceeds three days.
How do I exit my existing contract?
Before you start comparing your current Electricity contract with a potential offer, it is always advisable to check whether there are any exit fees with your current contract. This information is available on your bill or you can contact your provider if you have any other questions.
In some cases, there might be an exit fee for switching, although this would be lower than you’re your potential savings once you compare. It is advisable to have all the information on hand to avoid any surprises.