There are several energy providers at your disposal, so it is very easy to feel overwhelmed and at the same time confused as to which plan is best for you. You will come across great discounts to super flexible plans and other sorts of eye-catching benefits. By putting in some time to review and study the fine print, you can uncover the true value of an energy plan.

According to a survey, 23% of energy consumed by residential users intends to switch over to retailers in the coming years. It is very important to concentrate on the areas of the energy plan, if you are one of those people.

How to compare energy plans?

These points will help you to compare energy plans:

Understand your energy bills

When you start comparing your energy plans, then only you will actually understand your energy bills. They will help you recognize how discount offers affect your final price in true sense. Firstly, start to review the foundation charges.

Tariffs on your energy bill

The various electricity companies charge you in cents per kilowatt hour (c/kWh) and there are 3 types of tariffs:

  • Single rate: Under this tariff, you will be paying the same rate of electricity in morning, during day time, noon and night.
  • ‘Two-rate’ tariff or controlled load rates

Under this tariff, you pay specific rates while using specific appliances like electric water heater and oven etc.

  • ‘Two-rate’ tariff or controlled load rates

In this you pay 3 different rates for the amount of electricity you use. The charges depend on whether the electricity is used during non-peak, peak or shoulder periods.

Consider these points carefully when you start to compare energy plans.

The first thing when you review a plan is always the price. Any additional considerations which you might want when you are comparing energy plans include:

  • Introductory offers

You might get a good discount on your first energy bill. It may sound great, but it is very important to choose an energy plan in which you get lower bills throughout the entire year- and not only on your first bill.

  • Contract type

Check whether you are locked in the contract or free to exit any time? There may be an exit fees attached to your contract; therefore, it is important to check such details too.

  • Benefits and discounts

Check whether they have any special periods of added benefit? If yes, then when does the period end? Do they offer discount when you pay via debit or on time?

  • Discount offer if you pay on time

There are many energy retailers who often reward clients or consumers for paying their energy bills on time by providing good discounts on each bill which is paid on schedule. If you always pay on time, you can very well take advantage to avail this discount and thus save on your gas and an electricity bill.

iSelect helps millions of Australians by enabling them to compare different energy plans of all leading brands. For more information you can visit their website by just clicking on http://www.iselect.com.au/energy/.