Comparethemarket.com.au compares energy plans with the support of our trusted affiliate. The below information was kindly supplied by Residential Connections Pty Ltd.
Residential Connections’ calculator can be used to determine the results of various energy plans on the market. However, the accuracy is relative only to the energy plans provided by the retailer. Residential Connections is not liable to display all the energy plans for all the energy retailers.
The Residential Connections calculator makes a number of assumptions. These assumptions do not overrule any rules and laws of any state government.
Energy usage is dependent on various factors, such as the number of occupants in the house, weather conditions, electrical appliances used and more. A change in any of these factors will invariably affect the consumption as well. This is why providing the actual usage details for a year is important.
Residential Connections will present the offers ranging from plans offering the most to least amount of annual savings.
However, you will be notified by the retailer they have chosen about the tariff and type of meter. All the relevant information will be provided in the Welcome Pack sent by the retailer. The switch only occurs after a 10 business day cooling off period, should you choose to switch. If for any reason you do not wish to proceed with the new retailer, you can cancel the offer. You can either contact Residential Connections or you may contact the energy supplier you signed up for during the cooling off period and the offer shall be cancelled. Alternatively, you can also sign a cancellation form that would be provided with the offer letter and send it in the prepaid envelope.
Please note any cancellation after the 10 business day cooling off period will incur a termination fee from the energy supplier.
Please be advised that retailers may or may not offer a fixed rate. All rates are subject to variations periodically affecting the savings and costs. Therefore, you need to be aware of any changes in tariff that may occur in the future.
Residential Connections strive to deliver up-to-date information, and will only consider the current tariff when estimating the calculations. Residential Connections will not be responsible for any variations that occur in the future.
The off-peak rate will vary from appliance to appliance and when the correct off-peak tariff is selected, Residential Connections will provide the appropriate results.
The off-peak tariffs in Victoria differ from the rest of the states. Victoria offers 5 different controlled rates which may collectively fall under a single rate GD/GR and a time of use meter which is confirmed by the electricity supplier. A comparison is run for all the above mentioned tariffs. For example if you are a Victorian customer and you choose a peak and off peak meter in your search, then your results will include eight different tariffs from GH/GL to J,J6,J8,JT,Y6,Y8,YT. The highest being GH/GL and the lowest being tariff Y and J. The following is the breakdown of different tariffs.
Tariff Type: GH/GL – This tariff is independent of electrical devices. This tariff is based on time of use, and the peak and off peak are charged based on the electricity usage during the day.
The rest of the tariffs are based on the type of electrical appliance.
Tariff Type J – This tariff offers off peak storage space heating supply for 7 hours at night and 3 hours in the afternoon for permanently wired storage spaces – provided the supply is not taken in combination with tariff for storage water heating. Please note the supply is only applicable for approved types.
Tariff Type J8 – This tariff offers off peak storage space heating supply for 7 hours at night and 3 hours in the afternoon for permanently wired storage spaces provided the supply is taken in combination with tariff type Y8 for storage water heating. Please note the supply is only applicable for approved types.
Tariff Type J6/JT – Off-Peak Storage Space Heating – Supply offered for 7 hours during night and 3 hours during afternoon for permanently wired storage space heaters provided the supply is taken in concurrence with Tariff type Y6/YT. Please note the supply is only applicable for approved types.
Tariff Type Y6/YT – This tariff offers an off-peak load managed storage water heating for 6 hours during night for permanently wired water storage heaters, provided load management requirements are met for approved types.
Tariff Type Y8 – This tariff offers an off-peak water heating storage for 8 hours during night for permanently wired storage water heaters. Please note the supply is only applicable for approved types.
In certain cases the retailer may also offer lucrative rebates on top of the government rebates.
When a calculation is done, they are based on some of the above-mentioned assumptions.
Residential Connections assumes you will stay with your new retailer for a minimum of 12 months:
When doing a calculation as mentioned above the results are offered for at least 12 months. Therefore the Residential Connections calculator will assume you will remain with the chosen retailer for a minimum term of 1 year. Applicable rates, discounts and bonuses are only for the calculated term. You may incur variations in the following terms. Valued customer benefits may not be included in the energy plan result. These may include but may not be limited to gift vouchers, subscriptions or movie tickets.
Residential Connections establishes estimates based on the information provided by you to us using our search forms. The level of accuracy is based on how much information is provided by you. For example, if you can provide usage details over a longer period, your meter type, solar panel installation etc, the more precise the estimates will be. However, while a comparison can still be done with fewer details, the estimates may not be as accurate.
Governments in certain states provide a standing offer contract to their customers, which enable the customer to be charged only as per the government regulations. In the event a customer chooses to switch retailers, the standing offer changes to a market offer.
However, a customer can choose to go back to the previous offer, should they choose to no longer be on the current market contract.
Customers can determine their plans (regulated or non-regulated) depending on if they switched retailers following the introduction of energy market deregulation. For example, if a customer has not changed energy retailers since the deregulation of the market, they will be on a regulated offer and may lose the protection if they choose to switch to a non-market offer.
Residential Connections is an effective tool that provides a comprehensive comparison for a range of energy suppliers. We do advise you to do your own research on the available government websites and respective energy retailers, so that you can make an informed decision.