The prices of utilities are ever-increasing, and it is no surprise that a major chunk of one’s income goes into electricity bills. According to statistics, an average Victorian household with 2-3 family members receives a monthly electricity bill of 108 AU Dollars. This statistic shows that a significant portion of an individual’s income goes into electricity bills, leaving them struggling to make ends meet.
This raises the question of whether it is possible to reduce the electricity bill without actually reducing the electricity consumption. The answer is yes! If you compare electricity providers in Melbourne, you will discover plans that will help you save a lot of money on your utility bills. Let us look at the factors you must compare to choose an affordable electricity plan:
Comparing Service Providers to Find an Affordable Plan
Melbourne has 15 electricity suppliers that offer different plans and services to its customers. Moreover, almost all the suppliers offer a renewable alternative to power generation, which is aimed at making Australia a zero-carbon emission country by 2050. Therefore, the electricity suppliers encourage their customers with various incentives and tariffs to adopt a sustainable means of energy consumption. Hence, before choosing a supplier, you have to consider a number of factors.
The following are the most important ones:
1. Comparing the price and value of the plan:
Contrary to what people generally think, cheap doesn’t always mean better. Don’t fall prey to cheap electricity plans that don’t add any value to your overall energy consumption habit. Many times, if you just pay a little more, you can unlock many more facilities and services. Therefore, it’s important to ensure you go through all the plans properly instead of blindly choosing the cheapest one. You have to determine whether you are truly getting value for your money and if you like the cheap electricity plan that is being provided by the company.
2. Understand what tariff you are on:
Your tariff depends on which electricity usage scheme you apply for. However, the electricity grid and the whole system in general can be a bit complicated to understand, leaving you confused about the tariff plan. Remember that in certain plans, you have a single tariff, which means that you will be paying the same rate for electricity throughout the day. On the other hand, some plans may have flexible tariffs where the rate per unit of electricity rises during the peak hours of electricity usage in the area. Different providers will have different tariff rates, and you, as a consumer, must know about them thoroughly before availing of a plan.
3. Understand the quality of their customer service:
You can’t put a price on the customer service of a particular electricity provider. When a company has great customer service, we often overlook a lot of inconveniences. For instance, we sometimes tend to overlook the taste of the food if the service of a restaurant is excellent. Similarly, sometimes great customer service solves a lot of issues. That is why you should pay little attention to the customer service offered by a particular electricity provider and ensure that the service provider responds to your grievances promptly.
4. How does the provider generate electricity:
Going green is all the rage right now, and most electricity providers are switching to renewable energy sources to generate electricity. To understand what renewable energy sources they are using, you can visit their website. Many providers are moving towards wind, solar and, in some isolated cases, hydro. It’s also worth noting that Greenpeace releases a list of Australia’s greenest energy providers annually, so track that down and get informed.
5. Enquire about the solar feed-in tariffs:
Solar feed-in tariff is a policy that allows you to generate your own electricity, sell off the excess and earn money. Sound too good to be true? Well, it is not. In solar feed-in tariffs, homeowners are encouraged to install solar panels in their homes and generate their electricity. The excess electricity that has been produced can be sold to the electricity grid in return, for which the owners are paid a tariff by the electricity provider. However, since every electricity provider offers feed-in tariffs, you must shop around to find a provider that will provide you with the best value.
Most people in Melbourne don’t just blindly choose the cheapest electricity plan. They compare all the plans to determine which will give them the best value for money and are well-informed about the tariff rates. Additionally, many homeowners are also leveraging the benefits of installing solar panels, which not only help them earn a feed-in tariff but also contribute towards a greener environment. Therefore, be a smart shopper and avoid paying for more than you require. Compare all the plans today to find out which one fits your home the best.