Why bother to change?
There are more than 20 energy companies in Victoria, currently offering thousands of energy offers between them. Many even offer more than one plan across gas, electricity and solar energy. Some energy companies also offer discounted rates, based on different contractual conditions.
The easiest way to compare offers is at Victorian Energy Compare. It really is worth your time to get the best energy offer that suits your needs and budget. You might find that after doing a comparison, you don’t even have to change your current power company - you could just ask for a cheaper offer.
If you do switch
If you do switch, make sure you check the full details of the plan. To help you make the right choice, ask the following questions:
Questions to ask the retailer
- For electricity, what is the cost per kilowatt hour?
- For gas, what is the cost per megajoule?
- Are there any fixed costs or service fees?
- How long is the contract?
- Are there any exit fees on the contract?
- If I get a longer contract, is it cheaper?
- Can prices go up during the contract?
- Do I get a bonus for early payment?
- How do I pay? Bank account, credit card or cash?
- Are there exit fees if I want to leave the contract early? If so, how much are the exit fees?
Once you are satisfied that the offer is the best one for you, ask for an offer summary.
Switching Energy Providers FAQ
How do I switch?
Contact the retailer with the best offer for you. They will organise the rest.
How long does it take to switch?
The switching process can happen in a matter of days. How long it takes depends on the retailer you choose, so it is best to check.
Does the electricity or gas get turned off when I switch?
No. Your electricity or gas supply will not be interrupted when you change contracts or move to a different retailer.
Can I change my mind about my new plan?
Yes, but only within a certain period. You have ten business days after receiving the signed contract to change your mind, known as the 'cooling off' period.
If you are a small business, your contract or plan may have different conditions. Check with your retailer.
If I move to a new house, will my electricity or gas plan change?
Your current energy plans move with you. Your retailer cannot change your plan without your consent (either verbal or written). Remember, moving to a new house can be a great time to look for cheaper energy offers and save money.
How can I be sure I will not switch to a retailer that is just about to raise prices?
Ask the retailer when you call to confirm details, including plans to raise prices.
Will it cost me anything to switch?
No. It does not cost anything to switch.
However, depending on your current contract, it may cost you an exit fee. Check this with your retailer. Even if exit fees apply, they are usually quite low and should be much less than the savings made by switching.
Will I need new equipment, such as wires or a new meter?
No. Your new retailer will use the existing distribution network and your smart meter.