Imagine this: you run out of milk and decide to dash to the local shops for a quick replenishment of 2 liters. Standing in front of the dairy aisle, you’re perplexed by the price discrepancy between various brands of standard blue top milk. Some are tagged at $7 for 2 liters, while others are a mere $3. You find yourself wondering, “It’s the same milk, isn’t it? Why would anyone pay more for something identical?”
In reality, most people wouldn’t, and this hypothetical scenario is just that – a hypothetical. It’s hard to fathom a situation where such a stark price difference exists for the same essential commodity.
Now, welcome to the energy industry, where such peculiar situations are commonplace.
A recent report from the St Vincent de Paul Society reveals that households in Victoria, with average electricity consumption, could save up to $2,270 annually by switching from the worst standing offer to the best market offer.
Determining whether you’re on a standing offer or a market contract is crucial. A standing offer is the basic plan, often the default for those who haven’t switched providers in a long time or have remained in the same location for an extended period. On the flip side, a market contract typically comes with special benefits like discounts.
There are two common scenarios leading to a customer ending up on a standing offer. First, some customers have never opted for a market contract since the industry’s deregulation in 2002. Second, when benefit periods expire in market contracts, customers often default to the standing offer, resulting in unexpectedly high bills.
Drawing a parallel with the milk example, it’s akin to your favorite brand, consistently priced at $3 for 2 liters, suddenly deciding to charge $7 because the benefit period has ended.
Unlike choosing an alternative milk brand, though, switching energy plans might not be as straightforward for consumers. There’s a perceived hassle, concerns about the complexities involved, and uncertainty about finding a better alternative. That’s why it’s essential for consumers to stay vigilant about their energy plans. Checking for better options is a simple process that takes around 2 minutes. Deal Expert, working with various energy suppliers, can independently guide you in choosing a suitable plan for your situation. So, take a moment to compare now! Don’t forget, you can also compare electricity providers in the Sunshine Coast.
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Samantha Robertson
Solutions Expert
1300 087 011
Frequently Asked Questions
What is the best electricity plan for me?
Every household is different, and there are lots of ways you can tailor your electricity plan. Deal Expert provides up to date energy comparison, price comparison, and energy deals from retailers so you can make an informed decision. It also important to consider whether you want to pay your bills monthly or quarterly depending on your needs. It is always a good time for a bit of exploration and comparison, as you could save hundreds, start today by Deal Expert providers!
How long will it take to switch providers?
Once you’ve confirmed your details with Deal Expert, you’ll be moved over to your new provider within 3-4 weeks, but it depends on the provider and state. Finding a cheap energy deal and confirming your Deal Expert takes only a few minutes. Following that, you have a 10 Business Day ‘cooling off’ period. If you change your mind during this time, you can cancel the switch through Deal Expert and nothing changes. Your new provider will also handle all of the paperwork.
How do I know this company is above board if I've never heard of them?
The Australian energy regulator ensures that every single supplier follows the same rules and regulations, so all Australians have a fair chance of finding an energy company to suit their needs. This is especially important for those who want smaller, lesser-known providers because they can trust in the fact that these companies will be held accountable by law if something goes wrong with their service.
Do I need to cancel my Direct Debit?
When you decide to close your account with your current provider, the company will send you a final bill and the company cancels the direct debit after taking the final payment. If there are any funds in credit on your previous plan, they should notify you so they can transfer these back into your bank account or send me the money via cheque.
Are there any hidden costs?
No, our service is completely free for all customers. This covers everything from visiting our website or calling our call centre in Australia to Deal Expert providers online at the click of a button. We are here to provide you with competitive deals and services.
Is the service from Deal Expert free?
Yes. it is completely free to Deal Expert’s customers. We get paid a commission by your new gas and electricity provider.
How does Solar work?
Solar Panels are made up of many solar cells, which convert sunlight directly into electricity. A photovoltaic (PV) module is a packaged connected assembly of typically 6×10 photovoltaic solar cells but may have as many as 72 cells. Solar panels generate electricity when light shines on the array of panels. The amount generated depends upon how much power or energy the sun provides to the area where they are mounted.
Can you connect my energy if I am moving house?
Yes, we can compare & connect you to a retailer of your choice. Connections usually require at least one business day notice, there may be a connection fee passed through to you. This is not from us; this is charged from the distributor & will be applied to your first energy bill.
When I switch providers will my gas or electricity be interrupted?
There will not be any interruption to your supply of electricity or gas. This is because they will continue to be supplied by the same energy distributor. All that really changes is the name of the energy retailer that issues your energy bills.