With energy bills skyrocketing all over Australia, energy comparison is a great way to save. Below, we have compiled a list of questions you need to know the answers to before committing to an energy agreement. Master these, and you will be negotiating like a pro.
Have you looked up my specific tariff?
Tariffs are codes which describe whether you are being charged a flat or multi rate. They are charged at different amounts for different tariffs. Many comparison companies and telesales centres, will only quote rates on the cheapest tariff in your area – meaning that you may not be getting the most correct information.
Tip: if you are being quoted on your tariff, the representative will generally ask for information off your bill – like your National Meter Identifier (NMI).
How many energy providers do you market for? What are their best offers?
While there is legislation to prevent this, it is possible that some telesales representatives will engage in unconscionable conduct. For example: preferring to recommend a provider who gives them a higher commission. Asking for a couple of comparisons helps you to determine how many retailers the company has information on. Also, it allows you to see the breadth of offers available in your area.
What are all the charges involved in this offer – peak, off-peak, service and termination fees?
There are several different charge components to your bill. The best idea is to look at your bill and identify the separate charges. You can then ask about the compared provider’s similar charges. Writing them down, side by side makes it easy to see if the new offer will benefit you.
Is the discount guaranteed or are there conditions?
Guaranteed discounts are guaranteed. Regardless of you paying on time or any other condition, the provider is required to give you the agreed upon discount. This is the optimum discount to look for if your financial state varies from quarter to quarter. Also, it is a good insurance policy for any unexpected ‘bumps’ in the road.
Some common conditions include:
- Pay on time – a discount that is only provided if you pay your bill on an agreed date;
- Direct Debit only – customers are required to pay by direct debit only;
- Up Front Payment – customers receive a discount only when they pay a portion of their bill in advance.