compare electricity prices
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The opportunity to compare electricity prices and change providers is not a new development in the energy market. If you have never changed electricity suppliers then you are likely to be on what is called a "deemed contract". This means that you pay the standard, Government regulated electricity prices. The introduction of full retail competition across the majority of Australia means that you could now potentially make significant savings by comparing electricity prices and potentially switching to a new plan, called a "market contract", with either your current supplier or a new electricity provider.
Under a market contract the price you pay for electricity is generally not Government-regulated but most retailers currently set their prices at or below the regulated prices. In the unlikely event that you are on a market contract and suppliers increase prices above the regulated levels then you have the right to transfer back to your local retailer at the regulated price, called a "standing contract".
Whilst electricity prices in Australia are relatively low by international standards, this situation is unlikely to continue as State and Territory Governments in Australia start to consider the removal of price caps. With rising mortgage interest rates, food prices and petrol prices it makes even more sense to use Switchwise to compare electricity prices across our panel of suppliers to determine how much you might be able to save on your energy bills.
renewable energy prices
Electricity from renewable energy sources is generally more expensive to generate than electricity sourced from fossil fuels such as coal. Coal is a cheaper source because of its natural abundance in Australia and the fact that the technology to generate electricity from it is well developed and efficient. However, if the Australian Government proceeds with its plans to introduce a carbon emissions scheme then the cost of generating electricity from coal is likely to increase to reflect the cost of the carbon emissions created by burning it to produce electricity.
The technologies used to convert renewable sources such as solar, wind or water into electricity are less well developed and therefore less efficient and more expensive than fossil fuels. However, as we increase our use of electricity from renewable sources the more will be invested in them, the more efficient they will become and prices will drop. You can read more about Solar, Wind, Hydro and Biomass renewable resources. With Switchwise you can compare a broad selection of providers' renewable energy electricity rates to find some sweet deals - green energy doesn't have to cost the earth.
GreenPower is a national accreditation program operated by a collaboration of State and Territory Governments that sets the standard for renewable energy products offered by electricity suppliers to households and businesses across Australia. There are six levels of GreenPower accreditation - 10%, 20%, 25%, 50%, 75% and 100%, although most electricity providers only offer between two and four levels. The percentage reflects the proportion of your electricity use that your electricity supplier must purchase from accredited renewable energy sources. The higher the GreenPower percentage, the higher the prices charged by suppliers, usually in form of a flat weekly fee on top of your actual electricity usage and supply charges. However, it is now generally possible to purchase 10% or 20% GreenPower for no additional cost above the standard prices in your area. A great selection of greenpower plans offered by our supplier panel and relevant to your suburb is displayed when you complete our search form to compare electricity prices.
GreenPower aims to increase Australia's capacity to produce environmentally friendly renewable electricity by driving new investment in alternative energy generation. GreenPower accreditation requires energy retailers to meet strict criteria and undergo a number of stringent audits to ensure that the correct amount of electricity is being purchased from approved renewable energy sources. You can read more about GreenPower and renewable energy.