Is there anything that you can do about rising electricity prices?
There is no way to completely protect yourself from these price rises. However, there are some steps that you can take to minimise their impact on your bill.
If you’ve been with your current retailer for more than a year then it’s time to check the market. Checking regularly will ensure you know how your plan stacks up against the rest of the market; you could find better electricity plans with better rates.
Check your current plan against the market
It’s important to check and to take advantage of current offers available before any price rises take effect. Price change usually occurs in January or July, depending on which State you live in.
- Start with your current plan; when did you last switch? When did you last really look at your bill? Did you know that retailers are required to tell you if they have a better offer and if so, how much you can save on your current bill by switching to the better plan? Check the bottom of your bill for this information, it may surprise you!
- You should also cast the net as wide as you possibly can; ensure you compare all plans from all retailers. After all, we all get the same electricity through our wires (the power from the big guys is no different to the power from the smaller guys). What matters when choosing a plan is price and for some, environmental considerations.
- Ensure that when you compare, you are comparing based on your circumstances. Generic comparisons of “average” household don’t always lead to the best outcomes and can mean you are not really comparing ‘apples with apples’.
Joulius does the work for you
All sounds like it’s a lot of work? That’s where Joulius comes in. We take the complexity out of finding the best available rates in the market. And not just once, but we’ll keep an eye on the market and let you know when things change…
To check the whole market (not just your current retailer) give Joulius a go. All we need is one recent bill in pdf format to get started. We compare all retailers, all Generally Available plans of the same tariff type as your current plan (apples with apples!) to find you the best savings we can. Get started here – it will take you less than 5 minutes and its completely free to use. At the moment our service is for Victorian residential electricity customers only, but we are working on adding other States and fuels in the coming months.
