Your Electricity Bill
Electricity bills can be very confusing. However, getting to grips with them can save you a lot of money!
By spending a bit of time reviewing the different offers that retailers have, you can find a pricing structure that best suits you. See the Green Strata website for more information on tips for picking the best retailer.
To shop around for a better deal on your electricity you can use this federal government website. Make sure you enter at least 4 electricity and gas bills to ensure an accurate offer. If you have solar panels or are considering solar panels, be sure to use the filter options to compare the feed in tariffs from different retailers.
How you are charged:
Each residential electricity bill is made up of different charges but generally you’re charged for having access to electricity: a daily supply charge, as well as for how much you use: a usage charge. Below are the most common way of charging and the most common tariffs (pricing structure).
Daily supply charge
- Also known as a service charge, fixed charge, service fee, or service to property charge.
- Charged regardless of the amount of electricity used by customers and is generally considered payment for the use of poles and wires that make up our electricity grid.
- Also known as a consumption charge, variable charge or energy use charge.
- Is charged for the amount of electricity you use.
- Charged in cents per kilowatt-hour (c/kWh).
Standard residential tariff
- The standard residential retail electricity tariff for general domestic/residential electricity supply. The majority of people are on this tariff
- Customers pay the same price for each unit of electricity used, whatever the time of day, plus a daily supply charge.
Time of use tariff (digital meter is required)
- This tariff has high prices that apply during certain peak times, such as on weekday evenings, with lower prices at other times, plus a daily supply charge.
- Customers who can reduce their usage in peak times or shift their use to off-peak times may benefit from this type of tariff.
- Although times can sometimes vary the times are as below.
Estimation of your bill
Always make sure that your bill is not estimated. This will be identified on your electricity bill by either the term ‘estimate reading’ or an ‘E’ next to the usage. Retailers create estimated bills if the meter is not easy to get to due to health and safety reasons. If your bill is estimated then you may be paying too much.
GreenPower is the only voluntary government accredited program that enables your electricity provider to purchase renewable energy on your household’s or business’ behalf.
Read more about the advantages of purchasing GreenPower here.
For households and small businesses looking to shop around to find the most suitable GreenPower option, check out this comparison website.
For more information visit Green Power connects and switch now.