Electricity
Most people would say that the amount of electricity you use determines how much you pay for your power bill. This is of course true, but one aspect which can have a massive impact on your power bill, is the electricity provider and plan you are on.
An average household with the most suitable plan using the most expensive provider would be paying $372 per year more than if they were with the cheapest provider*. In addition, not everyone is on the most suitable plan for the amount of power they consume.
*Based on 3 person household in Christchurch using 8447 kWh/year. Including prompt payment discounts. Checked 12 February 2020
Prompt Payment Discounts:
Almost all providers will give you these. The best way to look at these is taking the power price and factoring in the discount as your standard rate.
If you pay late, then the discount is in fact the penalty charge. You should always be taking advantage of these prompt payment discounts!
Comparing Providers:
Remember, you don’t get better quality electricity with different providers! There’s no reason to have any loyalty with any power company. If there’s a cheaper deal with another company – Take it! (As long as you are not in a locked in contract)
Luckily there is an existing place to go to, which gives you a great breakdown of current pricing and offers, and what would be best for you. Check out powerswitch and answer a few questions to get a quick estimate of what you will pay with each different plan and provider.
Take a look at our other articles as well to make sure you fully understand what’s on offer before making any changes.