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The electricity market in Australia is quite diverse; in some States, such as Victoria, there is a significant number of energy suppliers and a healthy level of retail competition. In other States, such as Western Australia, there is a monopoly supplier and as a result no consumer choice. Full retail competition at the consumer level has been introduced in Victoria, NSW, ACT, South Australia and Queensland. However, due to differing regulated retail prices and wholesale purchase costs in each of these States & Territories there can be significant differences in the level of competition. Even with competition, the industry is currently dominated by a handful of large suppliers; the largest 4 suppliers (Origin Energy, AGL, Energy Australia and TRUenergy) account for over 80% of the market.
selecting a supplier
With the majority of households in Australia now able to select their electricity supplier, it is important that consumers have access to relevant information about pricing and service levels offered by a range of different power companies.
Whilst price is an important factor, Switchwise believes consumers will also make choices about their electricity supplier based on other factors such as environmental performance, service levels, range of plans and payment options and possibly their ultimate ownership.
Questions you should ask when choosing an electricity supplier include:
- What prices does the supplier charge?
- Does the supplier offer sign-up incentives or loyalty rewards?
- Do I get a discount for bundling my gas and electricity with one supplier?
- How well does the supplier treat its customers?
- Am I locked into a fixed-term contract?
- What payment options are available?
- Can I manage my account online?
- Is electricity being generated from renewable energy sources?
- Will the supplier assist me to reduce my energy consumption?
- What is the ownership structure of the supplier; will profits be taken overseas?
Compiling this information takes a significant amount of time and effort. Switchwise makes it quick and easy to compare and choose from a variety of electricity suppliers.
making a wise choice
Switchwise empowers consumers to take control of their electricity requirements and make an informed choice by comparing a selection of different electricity plans available in in their suburb.
Switchwise's quick and easy four step process will help you to find a better electricity deal for your home and, in many cases, to switch providers online. Firstly, simply enter your postcode and answer a few questions about your electricity supply to see our range of plans for your home and the amount you could potentially save by switching. Secondly, review the plans displayed and select the one that interests you most. Thirdly, for plans where you see an orange apply button, simply enter your details into our application form. Finally, review the information you have entered and the plan you have selected and click on the send application button to complete your application to switch electricity suppliers. It's that simple!