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What should I consider when comparing energy plans?
Price and features
When comparing energy plans, you will be given an annual estimate from multiple providers based on your current usage. This is an easy way to narrow down your options. Opt for a provider that gives you the best bang for buck by throwing in extra perks such as an energy tracking app or live chat support.
Usage rates and supply charges
Usage rates are how much you pay for each unit of energy you consume, while supply charges are what you pay daily for being connected to the energy network.
Contract terms and benefit periods
The contract term tells you how long you're locked into a contract for, though most providers these days offer month-to-month contracts. A benefit period tells you how long discounts or other perks last for before they expire.
It might be tempting to go with the cheapest provider but have a look at any additional fees it charges. The most common extra costs you could encounter include connection and disconnection fees, early exit fees, credit card fees or late payment charges.
Solar feed-in tariffs
Solar feed-in tariffs determine how much you'll earn for each unit of surplus energy that you feed back into the grid from your solar array, measured in cents per kWh.
Carbon-neutral plans and GreenPower
Consider 100% carbon-neutral plans if they fit your budget or pay for a GreenPower add-on so your provider can send renewable energy back to the grid on your behalf.