The standard rates for business energy in NSW are around $0.224/kWh. The rates for small businesses are usually lower than that of residential customers. Finding the cheapest energy provider NSW can be a complex and time-consuming task. Consider using a reliable electricity comparison website to find the cheapest deals.
The nature of your business and your energy usage needs are vital points to keep in mind. For instance, if you use high-grade coffee machines, several air conditioners, and many office automation products, your energy usage requirements are bound to be high. So if your energy bills are on the rise, it’s vital to switch providers.
Understand Your Requirements
If you already have an electricity provider, check if you will have to pay an exit fee for terminating the existing contract before the expiry date.
Stats show that only 21% of NSW businesses are satisfied with their current service providers besides their appliance usage rates; it is also essential to check which time of the day or night you use electricity most.
Energy bills will rise if you consume electricity excessively during peak hours. Hence, it’s best to choose a supplier who offers peak hour discounts.
Consider the Reference Rate
Use the reference rate as the benchmark rate when trying to find the cheapest energy provider in NSW. The government reference rate is around $1450 per year.
Rates offered by the supplier you choose should not be much higher than the reference rate. Energy suppliers in NSW typically charge a fixed rate and a usage rate.
Contract Type
You can choose between retail market contracts or fixed contracts. There is more stability and less volatility associated with fixed-rate contracts.
The electricity supplier cannot change the terms and conditions of the contract frequently and without prior notice. You will have a clear idea of what to expect from each month’s electricity bill. The terms and conditions of the contract are set.
However, market-rate contracts may be more suitable for business owners since the electricity consumption needs are dynamic, and market contracts offer more flexibility.
If your office uses renewable energy or solar energy, retail market contracts may be better. Also, consider your meter type and other similar factors before choosing a supplier.
Use a Price Comparison Website
Several NSW websites specialize in helping customers find the best deals on electricity. The most significant benefit of price comparison websites is that these websites allow customers to carry out location-specific searches.
You can find the best business energy suppliers in your area simply by entering your location details. The websites provide detailed information on rates offered by suppliers, discounts and deals, different electricity plans, etc.
Small businesses in NSW may be eligible for concessions and rebates from the government and private electricity companies. However, you will have to be an NSW resident and a concession cardholder to avail of these concessions.
The websites will tell you how much you save by switching to a new energy supplier.
Final Thoughts
With over 30 reputed energy companies offering business electricity supply services in NSW, you will have no trouble finding one that suits your needs. Perform detailed comparisons before choosing an electricity company for your business.
