How To Use Your Energy Bill To Accurately Compare New Plans

How To Use Your Energy Bill To Accurately Compare New Plans
Image: iStock
At Lifehacker, we independently select and write about stuff we love and think you'll like too. We have affiliate and advertising partnerships, which means we may collect a share of sales or other compensation from the links on this page. BTW - prices are accurate and items in stock at the time of posting.

Looking to compare energy rates and reduce the cost of your utility bills? The best way to do this, of course, is to find a provider with a more competitive rate that also suits your needs.

Getting an accurate comparison, however, can take some effort, given there are a number of variables to consider when it comes to electricity – particularly your current energy bill.

Before you start comparing online, here’s what you’ll need to do.

Figure out your monthly electricity usage

First up, find out your current electricity usage so you know how much electricity you’re consuming daily.

You can do this by recording your monthly consumption of kilowatt-hours (kWh) by either tracking it yourself via your electricity bill or by having an electrician come over and audit your energy usage.

Find the cheapest company in your area

Every city and state has an energy or public utility commission that regulates energy companies, so you can search on their respective websites to find the cheapest company in your area.

Compare offers and deals from different retailers and choose one that fits your needs (considering factors such as price, contract length and more). You can also use an energy comparison site such as Econnex to help you compare rates and pick a plan that works for you.

Econnex is the fastest way to compare electricity rates without the need to pick up the phone. Best of all, you can then switch your current plan directly on the website and begin saving straight away.

Here’s how to easily compare energy plans using the Econnex comparison tool:

  • Estimate your power usage in kWh
  • Enter your state and postcode in the location finder below
  • Provide the other information required, such as your current supplier, or whether your house is heated with gas or electricity
  • Decide on the tariff type – fixed or variable – to suit your needs
  • Make the switch within minutes
Where are you located?

Currently available in ddd, ACT, SA, VIC, parts of QLD, TAS & WA (only Gas). Not available in Ergon Area (QLD), NT and embedded networks or non-quotable meters.

Compare rates again every 6 or 12 months

Energy providers are always adapting plans and creating new ones to attract customers with any number of benefits. This is why it’s important to regularly compare energy deals.

Make sure you are on top of the market and continually getting the cheapest rates possible.

Finding the best energy deal can be challenging, especially with so many providers out there, but with our steps, you can quickly find the best rates available near you without having to do tons of work – and potentially reduce your energy bills by hundreds of dollars each year.

Log in to comment on this story!