AEES Group Blog

How to reduce your energy bill

Richard Martin - Friday, May 29, 2015

In Victoria, there are many licensed energy providers offering a range of energy contracts and plans. Their role is to sell you power and bill you for your energy usage.

You do have the choice to choose your energy provider based on the price and service that best suits your energy needs.

If you are unhappy with the prices charged on your current electricity bill, perhaps it is time to take a look at what else is out there.

If you have never moved or signed a contract with an energy provider, you are likely to be on a contract, and it could be likely that you are paying higher prices and missing out on discounts.

There is a number of pricing tariff structures available to consumers in Victoria, including:

• Single rate: Single rate are subject to the same price at all times.
• Two rate: A standard rate applies other than a lower off peak rate for a dedicated appliance e.g.: hot water billed on an off peak rate.
• Time of use: Generally offer different rates for usage depending on the time of day. Typically these tariffs have a peak rate period (usually weekdays and evenings) and off peak rate (usually nights and weekends).
• Flexible tariffs: Consist of different rates for usage at different times of the day, this is not limited to use of specific appliances.

The range of tariffs available may be limited because of a number of factors, including meter and network configuration. Not all tariffs are available at all premises.

Before choosing your energy provider:
• Decide what is important for you: price, green energy, service or special offers.
• Calculate how much you paid for electricity and gas over the last 12 months.
• When choosing, make sure you understand the offer and the contract terms and conditions.
• the price (tariff) you are paying for energy (how many cents per kWh or MJ)
• Discounts offered (e.g. 10% pay on time discount, confirm the charges to which the discount applies).
• Incentives on offer (e.g. shop credits, movie tickets, sporting club memberships).
• Contract period and payment options (e.g. direct debit, BPay, monthly billing).
• Price increase terms and whether you can fix the price for a certain period.
• Any fees including early termination fees or incentive payback terms.
• Any fees for a paper bill or credit card payments.