What is the best electricity offer?

my electricity company have broken the contract so I now can start fresh elsewhere or renew. I am trying to see what the best offers and rates are (NSW)so please let me know what you think is good

Energy Australia are offering 12% off net if I sign a contract for 2 years except that the cancellation fee is almost $150 ( which last time they gave me this credit at the start and probably wont do so again)

Quarterly rates are:
kWH:0-1000 = 24.9c
1000-2000 =26.38c
2000-3000 =28.48c
offpeak 10.25c
service fee 71c/Day

I expect to use 1250-1500 kWh

Comments

  • Hey there!

    Check out my post below. It will give you an idea of how to organise the various companies, and a good website to use.

    I highly recommend Red Energy right now. Just at work right now, but happy to discuss my reasons and answer any more questions in a bit! Just send me a PM.

    https://www.ozbargain.com.au/node/126223

    Cheers!

    T.

    • thank you very much

    • I got a letter last week that Red are increasing their rates quite a lot from July 1st. Not sure if they're still a good option come July.

      • Where do you live?

        • Melbourne South East.

        • Ya this increase is for a very small population in Victoria who were offered a specific deal and contract a couple of years ago. It was stated that tariffs would increase after the contract is up.

          Are your rates increasing to higher than the test of Victoria? Or just being increased to normal, and they were reduced prior? Before and after tariff prices would be helpful.

        • See if I can find the letter tonight. I remember the daily rate was being increased to $1.02 a day inc gst, which seems quite a bit higher than what other appear to be getting their daily rate for.

        • Right…I assume in the contract it said they can increase the tariffs to whatever they want. Would be interesting to know if this is above normal though! Thanks for the info hellhound.

        • New rates inc GST are
          Peak 25.74 c/kwh
          OP 16.280 c/kwh
          Service charge 102.3 c/day

          Going into effect July 1st. Will have to double check my contract, I only signed up a few months ago so this was all quite unexpected.

  • There are many companies like origin energy who offers upto 14% discount on usage charges and plus 1% if you pay before due date and no exit fee. I reckon if you get a better offer from some another company then you can get energy australia to match it. I reckon they can match it.

    • yeah that's what I was going to look at but I would like to know what the offers are first. thanks for the origin info

  • I was comparing plans with my friend in Melb a while back. I'm in Brisbane. It seems like Melb users get bigger discounts! Is this true?

    • Yes it is true :P
      Here in Melbourne we get about 28% discount from companies like origin energy but then if you try to match it with another company, then you will end up getting 30% discount

      • Unfortunately this is incredibly misleading. DO NOT look at just the percentage discounts. Victoria tariffs are not regulated, and thus they mislead you by offering high percentage discounts, when you're paying more for the increased tariffs.

        • exactly!
          daily supply charges (usually NOT discounted) can vary between 80c and 1.50 a day! The big percentage discounts are there to lure people in but you can expect to pay between 18c to about 30c per kWh after discounts…if you're paying more than 24c/kWh you are really getting ripped off.

          The most any power company can charge you for breaking a 1/2/3 year contract is $20 (they wont tell you this of course). (from a good source - VIC based).

          My aim is to get the lowest daily supply charge with the highest solar feed in rate and not care too much about the usage charge as long as it is under 26c/kWh with the eventual view to get battery storage when it becomes affordable and then supply several local houses and cut them all off from the grid.

  • Use http://www.energymadeeasy.gov.au/ to compare providers and plans.

    Red Energy has a $50 sign-up bonus and Dodo has $25 if I refer you to either.
    PM me if interested.

    • ** Any current customer can refer you.

      This is also the website I was referring to in my original post. Hope you are making some headway with all the info!

  • I am on AGL in Melbourne. Very happy with them. Recently they put up an Advert. That they offer 28% discount if you join them before 30.6.14.I am currently on 18%on electricity and 14% on gas and wonder whether I can cancel the present contract and rejoin them for the fresh discount rate. Has someone one my shoe.?

    • Being an RACV member gets you 30% off electricity and a similarly massive discount off gas with Simply Energy…this means the kWh rate of electricity comes down below 20c/kWh…which is good…but they are reaming you with the daily supply rate of $1.30 which doesn't attract the discount (the b*tards!)

  • Energy Australia are offering 12% off net if I sign a contract for 2 years

    https://www.ozbargain.com.au/node/144900

    comments suggest that 15-16% off electricity and 10-15% off gas is possible with no contract - but of course the key question is off what base prices…

  • I am not sure that this is a good time to be locking into a contract with an electricity retailer at the moment. Deregulation is to take effect from 1 July in NSW. Maybe those in Victoria and SA can enlighten us on whether to expect some price drops.

  • I expect that there will be some marketing of huge discounts. But obviously one has to look at both the kWh rate and daily service rate and apply any discounts to compare. I thought that the whole point of deregulation was increase competition and drive down costs to the consumers.

  • It really is subjective. Some factors to consider are:

    1. How many people are in your household?
    2. How big is the household itself and what does it use for heating/water?
    3. When do you think electricity will be used most? (e.g. if it's just one of you, there won't be much off-peak usage)
    4. Do you plan to separate electricity from gas, or prefer to have both?
    5. Are you renting or owning? Related to this, do you want a contract or month-to-month?

    Personally I don't have gas and am in a small place by myself. I'm also renting. So I chose Powershop for electricity since I can cancel at anytime without fees and I liked the idea of variable fees based on time of year (I can refer you for $75 credit each if it helps).

    At the end of the day there's a huge number of considerations to factor in. Good luck!