We are seeing energy retail companies becoming more competitive of late but you need to be an astute ‘buyer’ in order to access the best deals. Energy retailers are well known to hide charges or to discount some energy rates only to increase service and access fees. There are many different types of billing :
Single Rate Tariffs which have a fixed daily service access charge which is your “supply charge” and a single price per kWh unit of power that you buy. Generally the rate that you pay is the “peak” tariff rate or in simple terms the most expensive rate.
Controlled rate 1 & 2 Tariffs are in place for specific dedicated loads like hot water services. You normally have two meters, one which delivers power to your home and which is normally charged out at Peak tariff rates and the other dedicated meter which looks after your hot water supply. This hot water supply meter will normally boost once or twice a day which is where the controlled load 1 or 2 comes into play. The cost of this load 1 or 2 power is normally a half to two thirds of your normal peak rate charge.
Time of Use Billing or “flexible” tariffs offer 2 or 3 different tariff rates. Peak rates which occur 7am to 9am and 5pm to 8pm Monday to Friday. Shoulder rates which occur between 9am and 5pm and 8pm and 10pm weekdays and finally Off-Peak rates which are all other times.
Generally speaking most households should be on flexible time of use billing as this allows households to better manage their household consumption.
If you are unsure of what rate you should be on, speak to one of our consultants who will give you FREE and unbiased advise. We are after all – Energy Consultants with our motivation being for households and businesses to pay as little as possible for power!
Call 02 66522718 for help on your power rates ( applicable to Mid North Coast and Far North Coast residents only )