Cheapest Electricity Provider instructions
Often I get asked by family and friends to check their electricity bill to see if they can save
money. The Cheapest Electricity Provider calculator allows me to quickly check their electricity
usage against the provider I use. I usually shop around so my price is usually pretty good, but since prices
change so much, I may even find a cheaper provider.
I've provided my retailer's prices in the first column. Complete the second column with your information
and also enter the days, and kWh in the first column. That way you get to compare my provider
with your provider for the same usage and number of days.
A second approach is you can complete details for two electricity providers of your choice.
NOTE: The Cheapest Electricity Provider calculator is only suitable where you are on a plan with
a single rate.
Type in the name of your electricity retailer. That is who you get the bill from. You can also overtype
the electricity retailer's details in column one.
From your latest bill enter the number of days the bill covers. Sometimes you'll get
bills that change prices half way through. I'd suggest entering the latest price and the
number of days usage at that price. It should be your latest and thus current price.
Service to Property
The Service to Property charge is a daily charge. It looks small, but since it is multiplied
by 365 over a year, it can add up to quite an amount. Some retailers have very high daily
service to property charges. Make sure this amount is in cents. If the amount is stated as a
dollar amount per day, then convert this amount to cents per day.
Retailer's cents per kWh. Make sure this amount is in cents.
Electricity usage is measured in kWh (kilowatt hours). Use the total for the period
shown on the electricity bill and not the daily average amount.
Electricity retailers will often provide a pay-on-time, or some other discount. This is most often
just applied to your usage, but I've also found a retailer that applies the discount to the
entire bill. If the discount is applied to usage only, enter the discount in the % Usage Discount.
If the discount applies to the entire bill then enter the discount in the % All Discount.
The Amount is calculated based on the electricity used, service to the property charge, less
the discount, plus GST, for the number of days.
90 Day Amounts
To make it easier to compare two electricity providers this figure calculates what the bill would
have been had the period been 90 days. Since the period is then the same for each retailer
you can compare the total cost for a 90 day period against each retailer.
Many electricity retailers offer discounts. Some of the discount are ridiculously high, even up
to 40%. However, often when you check their charges there's two things they do, which means
the discount isn't worth as much as a retailer offering a lower discount. The first is
retailers may have a higher kWh usage charge, so offering a larger discount just makes it end
up at a similar price and sometimes the retailer may still be more expensive.
The second is often the discount is not always on the daily service to property charge.
The daily service to property charge is a fixed
charge and for some retailers, can be much more expensive than lower priced retailers that offer no discount.
If you're prudent with your electricity usage, the daily service to the property charge can
end up being a considerable portion of your yearly electricity bill.
By using the Cheapest Electricity Provider calculator you can easily see which retailer is better
Finally if you haven't asked your retailer for a discount perhaps it's worth the telephone call.
I've seen one person use this approach to good effect.
I currently use Dodo for electricity and gas, but this is not a recommendation to others to use
Dodo. I don't like paying a fixed monthly charge, but tolerate it because at this
time their prices have been good. I'm happy to move retailers for a better price. The Dodo
figures are here to help you compare as a starting point.
The prices for Dodo are their old prices prior to 7th December 2016. The reason is if people are comparing
their bills as of now, they'll be comparing their 2016 prices. Electricity companies tend to update
their prices in January. Dodo's new pricing starting 7th December 2016 is 95.85 cents daily
service to property fee and 25.95 cents per kWH. The Cheapest Electricity Provider calculator will be
updated with these new prices when 2017 bills are more common.
- We buy our electricity through retailers of our choice, but we are still locked into a single
distributor. To compare prices you'll need to know your distributor. Use the
site to determine your distributor. Using the wrong distributor in the retailers' pricing can
lead to incorrect calculations. Note: The prices above for Dodo are for 2016 and United Energy
as the distributor.
When comparing prices it may be best to get the latest prices from the retailers' websites. As
we move from one year to the next prices go up. Your pricing on your bill may be an older price
if comparing to a new offer from another retailer.
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The Cheapest Electricity Provider calculator comes with no warranty expressed or implied.
The Cheapest Electricity Provider calculator is only for informational purposes and is not guaranteed to be error free.
The information on this page is not intended to be advice.