How Can You Save More Money By Comparing Electricity Prices in NSW?

Today, it is impossible to lead an everyday life without electricity as most gadgets and business systems rely on power.

NSW is pretty self-sufficient in terms of electricity supply, and the region can fulfil 90% of local demand by purchasing power from regional power suppliers. Only 10% of the electricity is bought from neighbouring states like Queensland and Victoria through the National electricity market.

The prices of electricity have been rising steadily over the years. Electricity bills are one of the necessary utility expenses that NSW residents have to worry about. There are several power providers in the state, and their rates differ marginally. Here are some tips to save money. You can make an electricity comparison in NSW and choose the right power supplier.

Selecting the Cheapest Electricity Provider

The Australian government brought in deregulation legislation in the country that made the electricity market more competitive. It has driven down the electricity prices, and as the end consumer, you can take full advantage of it by choosing the most economical energy plan for your home or business.

NSW allows you to select your power supplier. The state has many power retailers to choose from. Before choosing any electricity provider, you need to consider your current tariff rates and spend some time on electricity comparison NSW before making the decision to switch suppliers.

Some suppliers have lower rates in specific blocks, and you need to check whether the supplier offers competitive rates in desired blocks. For example, some suppliers have comparatively lower rates during peak periods that can lower your energy bills if you use more power during peak hours.

 

Opt for Smart Metres

The accuracy of electricity bills largely depends on the proper tracking of energy usage. Switching to smart metres can help track your electricity usage in real-time, and the monitoring is more accurate than analog metres.

When selecting an electricity supplier, you can also ask if they offer smart metres that will allow you to track usage data on an online portal.

Choose the Right Electricity Plan.

According to a recent report, 30% of the electricity generated in NSW uses renewable energy sources.  For example, biomass accounts for 12% of electricity generation while windmills account for 20% of electricity generation in the renewable energy sector. According to experts, renewable energy is generally cheaper compared to the more conventional, non-renewable sources.

The electricity plan you choose for your home has an enormous impact on electricity bill savings.  Compare the plans of different power supply providers in NSW and find which plan can lower your monthly energy bills based on your current energy consumption.

Look for Rebates

According to a recent report, the population of NSW stands at 8.17 million. However, not all households in NSW have a considerable income, and the government offers several schemes to help the economically weaker section.

NSW residents can lower their energy bills by using different rebates offered by the government. The Family Energy Rebate is available to NSW residents who do not have a DHS Concession Card or Health Care Card. They are entitled to receive a rebate of $180 per year in their energy bills.

These are just a few of the factors that can affect your decision to choose an energy provider in NSW. Keep them in mind, and do sufficient research so you can arrive at an informed decision.