Hey guys
Can anyone please recommend the best and cheapest VIC electricity plan for a pensioner (who is very frugal with electricity)? Would be very grateful for recommendations. Thanks in advance.
Best Electricity Provider for Pensioner VIC
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Goes without saying, go https://compare.energy.vic.gov.au/ and click the apply for $250 power bonus. Just for submitting your meter number to check for the best deals you'd get $250 cash back in a week and you don't even have to sign up to any of the providers.
Do you own your home? Solar panels still math to be worth it in the long run. Big feed in profit days are long over, but the panels are more efficient per dollar than ever.
Best Electricity Provider for Pensioner VIC
I'd say, probably the cheapest.
Have they collected $250 for using the Victorian state government electricity comparison site? See this deal - [VIC] $250 Power Saving Bonus (New Round, Previous Claimants Can Apply Again) @ Victorian Energy Compare
I tend to switch Electricity every 1-3 months taking advantage of the best signup promotion offers available. I find sign-up credit offers adds up to more savings for me than lower rates.(if you take the time to switch regularly).
Some energy companies allow switching back to them and avail the Signup credit again (no timeframe - however Globird has 12 months timeframe so check T&C)
As an example, I switched electricity to AGL received $100 credit, stayed for 3 months, then switched out to 1st Energy for $100 Woolworths eCard, stayed for 45days, then switched back to AGL for a new signup $75 credit, stayed 35days, then switched from AGL to Sumo for their $100 sign up credit. In my case adds up to more savings than switching because of lower rates/locked in rates.
I found that if some Providers do offer lower Pension rates (not all do), the savings are too little compared to the signup credit promotions (even with higher rates). That was my experience with AGLs pension rates.
I have a smart meter here in Victoria so switching providers for me has taken only 2 to 4 days.
Eventhough it's easy, if you don't have the time or don't want to switch regularly, maybe best to look for lower rates instead.
That depends on many personal factors. Review options here: https://www.energymadeeasy.gov.au