What to Look for in an Electricity Plan

Are you looking to save money on your electricity plan but don’t know where to start? Energy and Gas can help you by providing you with handy hints of what to look for in an electricity plan.

Regularly comparing your energy plan is a simple and easy way to cut down the cost of your energy bills. But, when choosing your new energy plan, do you know what to look for in order to find a more affordable deal?

Here’s what you should take into consideration when comparing electricity plans:

Does it Have an Affordable Supply Charge as Well as a Competitive Usage Rate?

Often when comparing energy plans, people tend to get stuck on finding an affordable usage rate and completely ignore the expense of the supply charge. It’s also important to consider whether these rates and charges make sense when applied to your personal lifestyle.

For example, if you are a low electricity user, it may make more sense for you to opt for a plan with a lower supply charge and slightly higher usage rate than a plan with a low usage rate and higher supply charge. Being a low electricity user means that you can avoid the high costs of usage rates, but supply charges are unavoidable, no matter how much or how little energy you use.

Does Your Plan Suit Your Household’s Energy Needs?

Every household has different energy needs and you should take this into consideration when choosing your energy plan. If you’re unsure about your energy usage patterns, a smart meter can provide you with the in-depth information and data required to help you make an informed decision.

In particular, knowing your energy usage patterns can help you to take advantage of different types of tariffs. For example, if you work from home and are able to use the majority of your energy during off-peak periods, you might be able to benefit from time-of-use tariffs. Essentially, by using the majority of your energy during less popular periods of the day, you can be charged cheaper energy rates which can ultimately help you to save on your energy bill.

Does Your Plan Offer Extra Benefits?

Some electricity plans offer additional benefits that can further help you to save money. For example, some energy suppliers have partnered with other businesses to provide additional perks, such as earning Flybuys points.

Additionally, some plans offer benefits such as pay on time discounts. So, if you’re tossing up between a few different plans, examining any additional benefits they have to offer can provide you with an incentive to make a decision.