Home Savings Best Price on Power and Gas

Best Price on Power and Gas

by dollarwise

Best Price on Power and Gas

Getting the best price on power and gas is pretty important with rising cost of utilities. If it’s been a while since you’ve shopped around, chances are you’re getting fleeced. There’s a reason the government have tried to force a bit of industry honesty of late. I’ve recently changed providers after some considerable research. Here’s a quick guide on how to get the best deal on electricity and gas and some pitfalls to watch out for.

Why You’re Likely on a Bad Deal

Power and gas retailers usually offer a wide array of options. Their pricing is very, very confusing. It’s all designed to prevent you from swapping. And hidden deep in the paperwork is a small note that your prices will revert to ‘standard prices’ after a certain period, usually 12 or 24 months. These are not contracts, just standard practice in every deal. So if it’s been 1 or 2 years since changing plans, chances are you are on the standard plan. That is the one ripping you off. Who gets the good plan, new customers. Or wise older customers willing to ask for a better deal or willing to leave.

Finding a Better Deal

The Starting Point

Federal and state governments have recently launched their own comparison sites. The governments energy made easy site for example. I found these helpful, but not perfect. You punch in your data and it generates what it thinks are the best deals. You can do the same with other comparison sites. That’s you’re starting point. But don’t stop there. Think of this as guide to point you in the right direction. I took the top 10 companies and started making calls. That’s when you find what the real deals are.

Calculations

What’s your best deal I ask. Can you tell me your rates. Are you sure you can’t do better than that? You have to get their rates without GST, their daily rates and discounts and whether those discounts apply to the whole bill or just usage charges. Now you’ve got all the info, it’s time to have some fun. Some have higher supply charges and lower usage charges. So what do you do? I found the best option is to take a bill or two and work out what you would be charged for a quarter from each company. Then you’re comparing apples with apples. It takes some time, but gives you an accurate result for your particular usage. Now I think I know which one is the cheapest.

Negotiate

Now you’re armed with information you can negotiate. Yes, you can negotiate. Call your current provider and let them know that you’re leaving. Tell them the price that you’ve been offered and ask them to match it. If need be ask them to go higher up the chain. If they won’t, leave. 100% guarantee that within a few weeks you’re provider comes back with an even juicer deal. The very best deal an energy retailer offers is to those that have signed with another company to leave. I’ve done this 3 times and every time they come back with another 10% off their prices, but only after I’ve signed up somewhere else. And often I’ve stayed, but not this last time. Until you leave, you’ll never get the best price. Crazy isn’t it. You’ve got to be disloyal to become loyal.

So Who Did I Go With?

It would be nice to just say go with this one. Problem is, prices differ state to state. It depends if you have solar feed-in or not. We do and if you can get panels, so should you! It depends on how you use your power as to which provider will be best. So there’s really no point me sayin, sorry! You need to do your own research and enjoy the fruit of your labors knowing that you are getting the best deal for your circumstances. Just make sure you switch every year or two or you’ll be stuck on the rip you off ‘standard plan.’ Have fun and hope you find the best price on your power and gas.

 

 

0 comment

You may also like

Leave a Comment