Comparing electricity prices
When choosing a new electricity plan, it's important to look at the price of the plan and the cost of different fees and charges. Below we outline the steps you should take when comparing electricity prices.
Check the plan type
The first thing to check is if the plan uses market offer or standing offer electricity prices.
Every provider is legally obligated to have a plan that uses the standing offer - the maximum price charged for electricity under these plans are set by the Australian Energy Regulator. Market offer prices are set by each provider and can be below or above the standing offer.
If you're choosing a market offer plan, it's important to compare it against the standing offer to make sure you're not paying more than you need to.
Check the pricing structure
The next thing to check is the pricing structure for the plan. Electricity pricing can include different elements, such as:
- usage charges
- service or supply charges.
Service or supply charges are usually a fixed cost. These charges are to cover the cost of supplying the electricity to your home and maintaining the electricity infrastructure.
Usage charges are charged based on the amount of electricity you use. The electricity you use is measured in kilowatt hours (kWh) or megawatt hours (MWh). A unit price is the price per kWh or MWh. Check your recent bills to see how much electricity you usually use and don't forget you might use more in summer or winter. This will help you compare usage charges.
Depending on what tariff the electricity plan uses, you may be charged different rates on the electricity you use depending on things such as the time of day you used the electricity. Read more about electricity tariffs and choosing the right one for you.
Check other terms of the plan
When you’re comparing the electricity prices, check exactly what the contract includes and excludes. When you're shopping around for an electricity contract, you can ask providers to make an obligation-free offer. Read these offers carefully and always compare like for like.
Use price comparison tools
The Energy Made Easy website has a price comparator where you can compare the electricity prices of different Queensland providers in one place. It's run by the Australian government and is free and independent.
Some commercial websites also provide energy contract comparison and switching services. However, be aware that their options may be limited and they may not provide prices for all providers in the market.
If you have a complaint about an electricity company
If you have a complaint with your current provider and can't resolve it with them, EWOQ may be able to help. We offer a free, fair and independent dispute resolution service.