Changing Electricity Providers Successively

yeahyeah on 03/07/2022 - 10:38

Hi all,

I recently moved (i'm in NSW) and had to find an electricity provider. I checked the comparison sites and individual sites, compared all the offers and discounts and went with the provider that overall would be most cost effective. I've been with them 2 months and they've sent me a letter saying their prices are going up. I understand that i'm not in a fixed term/fixed price contract, so technically I can move around to a provider with a better deal.

Is there any reason not to? Would all company's rates be going up which would defeat the purpose of swapping?

cheers
YY

Financial Electricity

Comments

  • Sonnyjimbo on 03/07/2022 - 11:01

    Likely your timing - the rates are going up for all providers right now, correct? Currently waiting for my own increase to appear.

    I used a comparison site last year for the first time. It prompted me to depart from an exclusive gas/elec combo with AGL of 8 years and try one of the cheapies.
    Switched electricity to Q Energy for a big saving and the company seemed to be privately-held Aussie from my assessment (could be wrong)
    Left the gas with AGL but switched it to my wife's name and snagged a free 12mth Amazon prime sub which has been nice.

    What I find tragic is how many of our power producers are foreign-owned.

    • yeahyeah on 03/07/2022 - 11:06

      Well i expect they're going up across the board, which is why i question do i bother switching? Or do I see where things settle and do a fresh comparison and switch. It's not like they'd all go up the same.

      • stirlo on 03/07/2022 - 11:40
        +2

        Just do the comparison again and see if the new rates you have are worse than what you can get elsewhere. If they're worse change to someone better.

  • Sonnyjimbo on 03/07/2022 - 11:23
    +1

    I'd dare say if you already chose the most cost-effective provider then under a new comparison it's likely your provider will still be the cheapest or close to it

    • pompompom on 03/07/2022 - 12:43

      Unless you are with reamped.

    • Vote for Pedro on 03/07/2022 - 21:38

      Maybe not. An energy retailer is encouraging customers to leave as they are doubling prices because they can’t compete

  • c64 on 03/07/2022 - 13:13

    you can freely move around if your contract says no exit fees, no lock fees.

    reference prices increased 1 july, so companies should be passing on an increase around now or the beginning of august

  • SmiTTy on 03/07/2022 - 15:06

    I'd give it another couple months and do another comparison. If there are still considerable savings to be had by switching, then you can do that. If you're still at the cheaper end - youve got piece of mind!

  • meowsers on 03/07/2022 - 15:54
    +2

    I churned so much back and forth to energyaustralia that I seem to have been "banned" lol in total over 2 years got like $400 of $50/$100 switch credits.

    The last time we tried switching back to them we got a letter saying they are unable to service our property. Hehe.

    • skid on 03/07/2022 - 16:28
      +1

      How often were you switching?

      • meowsers on 03/07/2022 - 18:39
        +2

        Every few months. The thing is they would always send us more offers/calling saying come back. It's so easy to switch, so people really have no excuse for not being on the best tariff.

        Currently locked in our gas through tango back in January before the war, and our prices are so much cheaper than market it's nuts.

        • hashtagbargain on 03/07/2022 - 23:18

          Doesn’t look like tango offers lock in any more. The only Ofer from tango for gas is market rates and a note saying they may vary with ongoing conditions.

          • meowsers on 03/07/2022 - 23:30

            @hashtagbargain: Yeah, I think they (as with other companies) got caught out. Some went bankrupt or dumped customers… They are owned by Pac Hydro (now a chinese company) but tbh it's dog eat dog out there and my allegiances are to my wallet. Tbh if I had my way they would go bankrupt too but at least this way they are bleeding slowly.

  • the Unforgiven on 04/07/2022 - 08:36

    It looks like smaller retailers are putting their prices up more than the bigger ones
    Ask them for the new price while also doing a look around again
    Use this place to compare - https://www.canstarblue.com.au/

    • Cabrinha on 04/07/2022 - 11:44
      +1

      Since OP is in NSW they would be better off using https://energymadeeasy.gov.au which will provide a better comparison based on their on usage data.

      • the Unforgiven on 04/07/2022 - 12:03

        I am in Tassie where there ain't much choice
        But I have always used CanstarBlue to compare a multitude of stuff; it is better than Finder

        I just checked postcode 2147 for both websites & I got different retailers with not much overlap!
        Best to check both sites OP, and then pick the plan that suits you.
        Then come back here and tell use the results if you could

        • hashtagbargain on 04/07/2022 - 14:02

          Generally commercial websites are incentivised with kickbacks from advertisers. Best to use the gov site if your state has one.

          • the Unforgiven on 04/07/2022 - 16:15
            -2

            @hashtagbargain: Have you ever used it? I don't think so. The products are rated by consumers & experts

            Here is what you are after about 'kickbacks from advertisers'. Happy reading
            Canstar Blue is committed to making our customer satisfaction and value ratings freely available to consumers via our website. The business is privately owned by shareholders and continues to invest heavily in professional research. There are three ways in which revenue is generated:

            Sponsorship and referrals: Canstar Blue may earn a fee for referrals from its website tables, email newsletters, and from sponsorship of certain products.

            Fees payable by product providers for referrals and sponsorship may vary between providers, website position, and revenue model, and are individually negotiated.
            Sponsorship fees may be higher than referral fees.
            On our ratings results, comparison tables and some other advertising, we may provide links to third party sites. The primary purpose of these links is to help consumers continue their shopping journey from the ‘research’ phase to the ‘purchasing’ phase. If customers purchase something after clicking a certain link, we may be paid a commission or fee by the referral partner.
            Where products are displayed in a table, the display order is not influenced by commercial arrangements and the display sort order is disclosed at the top of the table, with the exception of Sponsored products (see below). Consumers can change the sort order to suit their preferences.
            Sponsored products are clearly disclosed as such on website pages. They may appear in a number of areas of the website such as in comparison tables, on hub pages and in articles. Sponsored products may be displayed in a fixed position in a table, regardless of the product’s rating, price or other attributes. The table position of the Sponsored product does not indicate any ranking or rating by Canstar. The table position of a Sponsored product does not change when a consumer changes the sort order of the table.
            Ratings licenses: Once category winners have been determined, the winning brands may have the opportunity to license the award logo for use in their marketing for a negotiated fee (however there is no requirement to do so). Each category is run approximately every 12 months. The market research remains independent and undertaken by a 3rd parties.

            Online advertising: Canstar Blue allows limited advertising on the website. Our primary intention is to present quality advertising that is highly relevant to consumers. We always include an ‘advertising’ or ‘sponsored link’ sign above the ad so people know exactly what it is.

            • hashtagbargain on 05/07/2022 - 00:41

              @the Unforgiven: I’d rather have no commercial interests in my recommendations (no matter how customer friendly their wording makes them out to be. I don’t need experts to tell me the cheapest plan for me - I can figure that out myself). Corporations are self serving, and the world is proof of that.

              Ps. I’ve used all the comparison sites and have first hand experience, thanks for asking 👍🏼

              • the Unforgiven on 05/07/2022 - 02:38

                @hashtagbargain: A lot of people have used all the comparison sites too, so you are not alone, but you have noticed a lot of those comparision sites do have commercial interests
                You never said if you used CanstarBlue?

                I like the barter system too

      • oldrocker on 18/08/2022 - 17:37

        Just used the site, pretty good I say….

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