You will have a lot to think about when moving into your new home. Whether it’s packing or arranging moving services, your checklist will be exhaustive.
But one thing that you will need to get sorted ahead of time is electricity. If you don’t switch to your best suitable electricity plan on time, you may end up paying hefty power bills or even go a couple of days without electricity at your new residence.
Reputed consultants offer online platforms where you may compare electricity plansfitting your requirements. Such research can help you save money as you may find a cheaper option. Here’s how you may choose an electricity plan for your new house.
Check Your Previous Electricity Plan for Reference
You may think it is wise to continue with your previous retailer if they offer services in your new area. But there can be electricity providers offering better plans.
You can check your previous electricity bills and calculate how much your electricity provider has charged you for an energy unit. It would be in kWh.
Once you know the amount, you can determine what electricity rate you will want for your new home as you shop for electricity. Leading experts can use this detail as a reference to help you compare your options and find plans that are better priced.
Choose the Right Electricity Rate Plan Based on Your Needs
Typically, the standard electricity plans for residential energy customers are fixed-rate and variable rate plans. The fixed-rate plans allow you to choose an electricity rate price that fits your electricity budget and lock the rate for the length of your contract term. So, you won’t have any surprise rate increase. On the other hand, variable-rate plans include fluctuations based on factors, such as weather and demand.
Chances are your electricity usage either remains almost the same throughout the year or changes season to season. Depending on your electricity needs in your new home, you may choose the rate plan. Top experts can then list your options to compare electricity plans based on your rate choice that keeps a tab on your bill.
Review Additional Electricity Plan Costs
Your electricity bill includes several costs. While some you can control, others you may not be able to restrict. Moreover, a few of these electricity costs may vary from state to state.
Typically, the expected costs factored into your electricity bill include energy units, electricity delivery, and transmission. Some electricity providers also work out your demand tariff for your home.
You may consult a professional to compare electricity plans that charge low additional costs with a more suitable peak demand window. You may find options that can reduce your electricity bills drastically.
Analyse the Discount Conditions and Benefit Period
You may find electricity plans with lucrative discounts quite appealing. But, once the benefit period ends, your bill could be a lot more expensive.
If you know you won’t chase a new deal every year, you may look for plans with ongoing benefit periods, thus avoiding the expiring discount cycle.
You can review the discount conditions and benefit period that fits your energy needs in your new house and your electricity budget. Accordingly, professionals can guide you with the electricity plan comparison process to find the packages, offering concessions with the best applicable terms and conditions.
Check the Feed-in Tariff
If your new house has a solar power system connected to the grid, you can choose an electricity plan offering the best feed-in tariff.
You may choose a single-rate or time-varying feed-in tariff. The latter offers different rates depending on the time the electricity gets exported to the grid.
As feed-in tariffs come with higher usage and supply charges, you may consider these factors while seeking help from consultants for comparing your electricity plan options. The more you export during the peak hours, the plan should allow you to maximise the feed-in tariff credits you can receive.
Check the Contract Term and Exit Fees
You may find plans with no contract term, which continue until you decide to cancel them. Also, these have no exit fees associated with them. On the other hand, an ongoing contract with a benefit period can appeal to you if you wish to get prices locked for a fixed period.
You may get experts to compare plans for you based on your contract term flexibility. If you wish to go with the ongoing contract option, ensure you choose one with the minimum exit fee.
Consult a Professional
While deciding on an electricity plan for your new house, reach out to an experienced consultant who can compare and find the best ones available in your new area. With your electricity needs taken care of in the most economical way, you can lead a peaceful life in your new dwelling.
