The NSW electricity market is one of the most competitive in the world and that means customers are ideally placed to sort through the offers being made by suppliers to get the best deal.

You can buy your electricity from any retailer who is making an offer.

And most retailers have more than one offer available. That means you can pick a supplier whose plan and costs best suit your needs. There can be a difference of up to 10 per cent between offers.

Freedom of choice also means you can change retailers at the end of your contact if another supplier offers a better deal.

Things to remember when changing suppliers:
  • The Australian energy regulator maintains a free, government run comparison website at www.energymade.easy.gov.au to help sort through offers from sellers.
  • Retailers are compelled to keep their offers up to date.
  • Commercial websites also do price comparisons without charging customers but many receive a brokerage commission from participating suppliers or their `recommended’ supplier.
Brokers are also available to negotiate customer deals with electricity suppliers for a fee but its pays to carefully read and understand their terms and conditions.

The volatile nature of electricity prices sometimes mean brokers have difficulty guaranteeing the price they have secured for you is the cheapest the retailer now offers

If you are negotiating your own deal with suppliers don’t forget that you can take your final offer back to your original supplier to see if he will offer better pricing 

Points to consider when switching suppliers:
  • How do charges offered by a new supplier compare to your current deal.
  • You can seek discounts on your price structure if you’re prepared to be flexible about the time you use the most power and hot water.
  • Are there any fees in your change address
  • How often will you be billed? Monthly payments may suit you more than sat every three months.
  • Are there fixed charges, including late payment fees or early contract exits?
  • Are there discounts for early payments or fees for late payment?