1. Cheapest energy provider?
The first thing to know is that most customers are not even on the best rate with their current provider. So it’s not the provider you want, it’s the best prices. If you’ve been with a provider for a year or more, you have probably defaulted to their maximum rate.
2. Backpacker knocks on the door
He (it’s nearly always ‘he’) is paid by the provider to gather customers. He is only promoting a single provider. Most of the larger suppliers are no longer using this method because the ACCC has clamped down on them for misleading customers. It stands to reason that this is extremely likely to be the cheapest plan. How would you know anyway?
3. You use iSelect
iSelect compare about 1/3 of the 25 providers, less for gas only (3) and business. They only have the plans that the providers nominate, which can exclude their best rates. They are paid by suppliers and required not to promote re-switching. You can get better prices but almost certainly you will be missing out on the best prices.
4. You use a Government website
At least Government websites are independent and compare all providers. However they are not so easy to use, especially the Victorian Government website that is frankly, a nightmare. We also regularly find errors in the information provided and it’s not so accurate when you use the questionnaire. Most importantly, it’s all up to you. You check your bill, you interpret it, you navigate the website and interpret the results and arrange for a signup. You work out whether the counter offer from your supplier is better or not.
5. Energy Umpire
Energy Umpire compare for you annually for free. We do all the work and tell you how much you can save and compare your prices with the best prices available from every single publicly available plan.
The average home can save $500 for our fee of $25 for electricity and gas. ($15 electricity only). Businesses typically save 15-25%. We monitor every bill or just give you a free annual checkup.