Choosing the Right Power Plan
A comprehensive guide to help you select the best electricity plan for your household's needs.
Types of Power Plans
Fixed Rate
Lock in your power rates for a set period
Pros
- Price certainty
- Protection from rate increases
- Easy budgeting
- Often includes sign-up credits
Cons
- Usually requires fixed term contract
- May have break fees
- Can't benefit from rate decreases
- May have higher rates initially
Best For
- Households wanting price stability
- Long-term residents
- High power users
- Budget-conscious families
Variable Rate
Rates that can change with market conditions
Pros
- No fixed term contract
- Flexibility to switch anytime
- Can benefit from rate decreases
- Often lower rates initially
Cons
- Rates can increase
- Less price certainty
- Harder to budget
- May miss out on sign-up credits
Best For
- Short-term residents
- Those wanting flexibility
- Low power users
- Price-sensitive customers
Time of Use
Different rates for peak and off-peak times
Pros
- Lower rates during off-peak hours
- Potential for significant savings
- Good for EV charging
- Rewards shifting usage patterns
Cons
- Higher rates during peak times
- Requires active management
- Need smart meter
- May not suit all lifestyles
Best For
- EV owners
- Flexible usage patterns
- Work-from-home households
- Tech-savvy users
Low User
Special rates for households using less power
Pros
- Lower daily charge
- Designed for low consumption
- No fixed term required
- Good for small households
Cons
- Higher per-unit rates
- Not suitable for high usage
- Limited availability
- Usage restrictions
Best For
- Single person households
- Small apartments
- Holiday homes
- Very efficient homes
Key Considerations
Usage Patterns
Consider when you use most power and if you can shift usage to off-peak times
Household Size
Larger households typically benefit from fixed rates and bundled services
Length of Stay
Long-term residents might prefer fixed rates, while short-term may want flexibility
Budget
Consider whether price certainty or potential savings are more important
Special Requirements
EV charging, solar panels, or medical equipment may need specific plans
Additional Services
Consider bundled services like gas, internet, or rewards programs
Pre-Switch Checklist
Ready to Find Your Perfect Plan?
Compare power plans from top providers and find the best option for your household.