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Monitor your energy usage with vetted power plans

Are your recent energy bills higher than usual? Or do you want to keep a check on your energy consumption habits? You can monitor your energy usage to track the patterns. Try to make some changes and save more energy and costs. Some vetted power plans help you monitor energy usage and offer better flexibility.

Australia’s energy comparison increased by 0.6% from 2018 to 2019 and reached 6,196 petajoules. Find a better plan to meet your energy needs and monitor it regularly. You can choose the right plan through a power company comparison website.

Why Should You Monitor Your Energy Use?

How Can You Conserve More Energy At Home?

Before we look at some of the vetter power plans you can use to keep the costs low, it is important to consider how you can reduce your energy usage at home. As mentioned above, monitoring your energy use is the first step, particularly as it lets you figure out which appliances are the biggest culprits. From here, you can start turning off certain appliances or switching them out for more modern and energy-efficient ones.

Another key thing you can do to conserve energy is to improve your home insulation. This includes checking the seals on your windows to ensure they’re still tight and aren’t letting heat escape and cold air enter. Likewise, working with residential roofing companies can help you see the state of your roof and how efficient it is. Repairing or replacing your roof/windows can make your home wildly better at conserving energy before you need to consider vetter power plans.

It is important to keep track of your household's power consumption periodically. It helps you figure out ways to conserve more energy and lower your energy bills. You can also get the following benefits:

  • Allows you to know your peak energy consumption period.
  • Find out which of your appliances are consuming more energy.
  • Provides an opportunity to switch to smart automation devices.
  • Identify power usage trends.
  • Analyze the quality of energy you are receiving.
  • It helps in determining when to switch your power plan.
  • Regain control of your finances.
  • Find a more efficient and affordable power plan.

Types Of Vetted Power Plans To Choose From

It can be tricky to choose the right power plan among the different options. Make sure to consider the pack features, your energy needs, patterns, and costs.

Some companies offer additional features and special benefits. You may choose the most suitable plan after going through a power company comparison site online.

Fixed-rate Plan

These are the most popular power plans. You receive a fixed electricity rate regardless of the costs in the market. The rates remain stable until your contract length. However, you may have to continue with the same plan throughout the period. If you want to change the plan, you may have to pay higher early termination fees.

Fixed-rate plans allow you to know the exact rates you are paying for each energy unit you use.

The most common fixed-rate plan durations include the following:

  • Multi-year plans: Multi-year contracts are the best for long-term price security. These plans are available for two years, three years, and more.
  • 12-month plans: These power plans offer price protection for a whole year.
  • Shorter terms: They are available for three to six months. These plans can be suitable to meet your increased energy consumption for a particular season or if you have a shorter lease.

Types Of Fixed-rate Plans

You can choose from the following plans:

  • Basic fixed-rate power plans
  • Tiered rate power plans
  • Bill credit power plans
  • 100% renewable green power plans
  • Power plans with a free electricity gadget

Variable-rate Plan

The costs of a variable-rate plan change from month to month. The rates usually depend on the wholesale electricity prices. If you do not want to commit to any long-term plan, the variable-rate plan may suit you.

You do not have to stress over cancellation fees because you are free to switch after every month. You can monitor your monthly energy usage and switch to a better plan to meet your energy needs.

However, you may not get much cost protection. The power rates may keep fluctuating constantly. Make sure to research the market prices before choosing a variable-rate plan.

The most common variable-rate plan durations include the following

  • Month to month: You gain more freedom to switch to more suitable plans every month.
  • Prepaid plans: These plans do not have a fixed contract period. You are free to use energy until your supply pack runs out.

Indexed-rate Plan

The rates for these plans link with other underlying variables. Some providers use a publicly available index as an underlying variable. If you plan on taking an indexed-rate plan, make sure that the provider fully discloses how they calculate your bill with the variable.

The rates for these plans may vary monthly, similar to a variable-rate plan. Or it may be a fixed rate throughout your contract length based on its closing price.

You can monitor both the energy usage and electricity markets with an indexed-rate plan.

The most common indexed-rate plan durations are the same as variable-rate plan durations:

  • Month to month
  • Prepaid plans

You have to constantly monitor an indexed-rate plan to ensure that you save more. It may be suitable if you find it interesting.

Monitor your energy usage easily by choosing any of these vetted power plans. Ensure to make a power company comparison through a reliable website before choosing a plan. It helps you find the best plan according to your energy needs and budget.

About The Authors

Susan Murillo

Susan Murillo - Susan has been interested in real estate since she was a child in Halifax, Nova Scotia. Susan had always wanted to pursue a direction that would encourage her to support others, and she discovered her true calling in real estate, where she could serve her clients and direct them through one of their most significant investments. Shannon has been involved in the selling and distribution of one billion dollars in real estate in Western Canada over the last ten years.

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