Comparing and reviewing any type of bill is never something we usually have circled in the calendar. It is the type of job that doesn’t alert us until it’s too late.
At InfoChoice, we try to keep you informed with the right information, at the right time, to decipher those unloved jobs. We have gathered the latest information on electricity and gas costs in New South Wales (NSW) to help you better understand, compare and find the best energy options for you.
Ready to compare electricity providers in NSW? Talk to our partner company iSelect today on 13 19 20.
Comparing electricity and gas is easy when broken down into two key areas:
- – Why can the costs be so high in NSW?
- – How to compare and find the best option for you.
Why is NSW pricing so high?
New South Wales along with the rest of Australia seem to have continuously rising energy bills. It is due to an extremely high cost of energy generation. This is the cost of making the energy or as you may already know, the wholesale price. According to the Independent Review into Future Security of the National Electricity Market June 2017, 76%* of Australian electricity is currently produced by coal-fired generators but these coal plants only last approximately 50 years, this means at some stage they will need to be rebuilt. It has been said that this is not going to happen and the country will have to look at alternative options for energy – this is where renewable energy comes into place.
What is renewable energy and why is it important?
Renewable energy is energy generated using natural resources e.g. sun, wind, water.
This means, unlike coal and the coal plants, renewable energy won’t run out. Solar is one of the most common alternatives for renewable energy in Australia, with more people switching to solar to reduce their power bills and carbon footprint.
It's a great idea to compare energy, talk with our partner company iSelect about the benefits of solar power and the right plan to suit your solar needs.
How to compare your energy plan:
1. Review your current energy plan
Reviewing your current energy plan can be as simple as opening your latest bill or logging on to your members area online.<p< p=””></p<>
It is important to assess:
How much are you being charged for electricity?
- – Single rate (one rate at all times)
- – Two rate (charged one rate for standard consumption and a different rate for a separate appliance used at specific times)
- – Time of use (different rates for energy used at different times of the day)
How much is your current bill?
What is the usage for that bill?
- – Peak
- – Off-peak
2. Compare your energy plan
Our partner company, iSelect allows you to compare energy plans side by side to ensure you are getting the most suited deal for you. Simply enter your postcode to start the process.
Remember, it’s not all about the dollar figure – find our list of top questions to ask:
- 1. How long is the contract?
- 2. Are you eligible for any discounts?
- 3. Are the discounts off the entire bill or just certain charges?
- 4. How long are the discounts available?
- 5. Are there any connection costs and/or exit fees?
- 6. Is it a better option to have your electricity with one company and your gas with another?
3. Switch and Save
Once you have compared your options and found a plan that suits your budget and lifestyle, the final stage is simple.
Click here to enter your postcode to start the process or call our partner company iSelect on 13 19 20 to speak to an energy expert and let them arrange the switch on your behalf.
Disclaimer Infochoice or iSelect do not compare all products in the market. Not all products are available at all times. Any advice provided in this content is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice we give you, having regard to your personal situation, before acting on our advice or purchasing any product. Source: aemc.gov.au/Markets-Reviews-Advice/2016-Residential-Electricity-Price-Trends/Final/AEMC-Documents/2016-Electricity-Price-Trends-Report, tenplay.com.au/channel-ten/the-project/extra/season-9/sick-of-getting-screwed, smh.com.au/business/sunday-explainer-why-is-electricity-so-expensive-20150925-gjvdrj.html