Which electricity company? I just want the cheapest!

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You have seen all the tv advertising, people stopping you in shopping centres and social media stuff. It is very confusing with the signup bonuses, pay on time discounts or points but who is the cheapest? I have found the easiest way to compare…https://www.energymadeeasy.gov.au/. Go to this government website.

  1. Select energy plan
  2. Enter your postcode
  3. Get started
  4. Select how many people in your household
  5. Select use my data (from my experience the easiest option)
  6. Select your current provider
  7. Then type in your NMI. Mmmm yes, your NMI. This is a number on your energy bill that is your national metering identifier. Long story short, it pulls the data for you to give you the most accurate results.
  8. Once you have found your NMI and entered this in, select compare energy plans.

Bam! This takes out all the mumbo jumbo and just give it to you as straight as possible.

Your next question is probably who do I use? I use Powershop.

Let me give you the specs.

  • All power is 100% Carbon offset
  • Cheap power by letting you purchase it in advance (around a 15% discount for buying in bulk but sometimes higher – See screenshot)
    • If you don’t use the power, it carries over
    • This also gives you cash flow control. You can pay in advance to make it easier in the future or for budgeting.
  • No credit card fees
  • A great mobile application which gives a good insight on power usage
  • Let’s you start with a $75 credit if you use this link. I get $75 as well so thank you.
    • If you sign up before the 10th of May using the above link
      • You get a $100 credit
      • I get a $100 credit (thank you)
      • The Food Bank gets $100

Now let’s give you the things to watch out for/note.

  • Make sure you buy in advance because their default rates aren’t great.
  • Depending on how much in advance you want to pay for power you may have to log into the app frequently to pay. There are quite a few options. I buy the mega packs and the monthly specials.

Tricks for the players.

  • Powershop will most likely give you a smart meter for free if you are eligible and don’t already have one. Just ask when you sign up. A smart metre means no one will come to check your metre (people with dogs would understand)
  • Each month or so you will have the option to buy packs for about 3 months in advance which will have a 15.5% to 16% discount (see screenshot)
  • Every so often random deals pop up with high discount rates. Jump on them.

All the details direct from the source can be found here.

Shout out to Mel for this original tip!

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