We’ve partnered with Econnex to bring you a range of energy plans to help you compare them.
Do you think you’re paying too much for your business energy bills? Your choice of electricity and gas provider can make a huge difference to your bottom line. However, with so many different electric companies and energy plans available on the market in Australia, it can be a time-consuming task to choose the right one for your business needs.
Savvy can save you time and money by offering a 100% free energy comparison service that enables you to compare, switch and save all in one place. Just provide a few details about the plan you’re after and within minutes you can compare energy plans side-by-side which are available in your area. Start the process with Savvy today to see if you can save on your electricity bills!
Comparing business energy plans is easy through Savvy. The choices you’ll have and the number of retailers who operate in your area will vary depending on which state or territory you live in, with residents of the Northern Territory and Western Australia having less choice when it comes to switching providers. This is because these areas are not part of the National Electricity Market (NEM) and have their own state-based energy rules and regulations.
However, for Aussies living in New South Wales, the Australian Capital Territory, Queensland, South Australia, Victoria and Tasmania, the process to find a better deal is simpler. When comparing business energy plans side-by-side, consider the following elements:
Overall cost of the plan
This should be detailed in the basic plan information document provided by the retailer. By law, retailers must quote the electricity reference price for average business usage in your area and show how their quote compares to this average figure, expressed as a percentage compared to the average. For example, one retailer may offer ‘6% less’ and another ‘4% less’ than the average price for your area. Naturally, 6% less is the better price option if all other factors are equal.
Tariffs describe the amount charged per unit of electricity (kWh) or gas (MJ) you use.
There are various types of tariff charged for electricity, including:
Solar feed-in tariffs
A solar feed-in tariff is the rate at which an energy company pays you for the electricity generated by your solar panels and fed back into the grid. This rate varies according to:
When comparing gas charges, you may be charged a flat rate for all of the gas your business uses, or you may be charged a ‘block tariff’. A block tariff means you'll pay a set amount for the first block of gas you use and another rate for subsequent blocks. For example, the first 10 MJ/day block of gas you use may be charged at 3.65c/MJ, while the second block may be charged at 2.5c/MJ.
The supply charge, also known as a service charge or daily supply fee, is a fixed amount that retailers charge per day to cover the cost of supplying electricity or gas to your premises. It is typically billed on a daily basis, regardless of the amount of energy consumed. The supply charge covers the retailer’s costs associated with delivering energy to your business and is separate from usage charges, which are based on energy consumption.
Energy bills may include various fees in addition to the cost of the electricity or gas consumed. Common fees include supply charges, late payment fees, paper statement fees and disconnection or reconnection fees. Some plans may also have exit fees if you decide to switch providers before the end of your contract. It's important to review the terms and conditions of your energy plan to understand the fees associated with your bill.
Sign-up bonuses and special offers
When you switch energy plans, you may be eligible for additional benefits beyond cost savings. These benefits can include additional perks such as sign-up cash bonuses, access to rewards programs, discounts on energy services or internet plans or access to renewable energy options. It's worth exploring the special discount offers of different suppliers to see if they provide any additional benefits for your business operation.
Some retailers may offer price discounts for those businesses which use one retailer for all their energy needs. Therefore, if you compare gas and electric company plans and find one retailer offers the best deal for both types of energy, you may consider bundling your energy together to take advantage of such discounts.
There are generally three types of business energy plans available to commercial customers; standard business plans, market business plans and customised business energy plans. This applies to those states which are part of the NEM.
Standard business contracts
These contracts offer standardised pricing which is determined by the NEM. The tariffs charged under this type of contract can only be changed every six months and there are no exit fees charged to switch away from this type of contract and find a better deal. However, they often don’t offer the best rates and may come with higher tariffs than a market contract.
Market business contracts
These contracts often come with discounts and additional benefits, but they lock the customer in for a set period. There are often exit fees if the contract is broken, but the tariffs charged can change at any time depending on the wholesale energy market. These are also known as variable rate contracts.
Customised business energy contracts
These contracts are offered to medium to large business energy users on an individual customised basis, by retailers who specialise in supplying energy to commercial customers. They are generally offered to customers who have complex energy requirements, potentially across multiple locations. These contracts are often handled by a separate business services division of energy providers.
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Savvy is partnered with Econnex Comparison (CIMET Sales Pty Ltd, ABN 72 620 395 726) to provide readers with a variety of energy plans to compare. We do not compare all retailers in the market, or all plans offered by all retailers. Savvy earns a commission from Econnex each time a customer buys an energy plan via our website. We don’t arrange for products to be purchased directly, as all purchases are conducted via Econnex.
Any advice presented above is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an energy plan. For further information on the variety of energy plans compared by Econnex, or how their business works, you can visit their website.