How To Know If You’re Paying Too Much For Your Electricity

How To Know If You’re Paying Too Much For Your Electricity

How To Know If You’re Paying Too Much For Your Electricity

Price isn’t the only thing to consider when shopping around for an energy supplier however, it is an important factor. There can be substantial differences between the cheapest energy plan and the most expensive plan in your area.

When shopping around for an electricity provider it is important that you are aware of any hidden fees. If a price seems to competitive or too low, chances are there will be hidden fees that will be added to your bill.

Even if you are getting a great deal with your current supplier, it is important to check your bill each cycle. Sometimes simply scanning the details on your bill are correct can be an easy way of ensuring you are paying for the right usage and charges.

Here are some tips below on what you should look for when checking your bill:

  • Your name and address.
  • The date and billing period.
  • How much you need to pay (including any credits or money owed from previous bills)
  • When the payment is due.
  • Make sure the meter number on your bill matches your meter number.
  • The meter readings/amount of energy used.
  • The amount your retailer is charging you for each kilowatt hour (kWh) of electricity or megajoule (MJ) of gas.
  • The supply charge for the billing period (this is a fixed charge for supplying your property with energy and is not based on how much energy you use).
  • Any other fees or charges being applied.
  • Any amount credited to your account as part of a rebate, concession, etc.

What are some things to consider when looking for a provider?

Check for the off peak time zones. If your provider has an off peak time zone of 7-8pm but you work those hours you may be better off selecting a provider that has an off-peak time zone during the morning period when you are home and will be using electricity.

How can you reduce your energy costs?

Did you know your body corporate or owners corporation community could enjoy significant savings by buying utilities such as water, gas and electricity in bulk? Buying utilities in bulk means lot owners and tenants enjoy lower costs per individual property.

SAS recently conducted an exercise to see how much money we could save households on their electricity bills. Some households that we reviewed could be saving upwards of $900. What could you do with an extra $900 per year?

If you think you are paying too much for your electricity bill, click here to contact Silver Asset Services for a free review of your electricity.

Leave a Reply

Your email address will not be published. Required fields are marked *