Comparing electricity and gas plans can be overwhelming!

COMPARING ELECTRICITY AND GAS PLANS WHO HAS THE BEST DEAL?

Gas and electricity are often very competitive markets with many different services, plans and providers. When presented with offers from separate companies, it can be easy to become confused and overwhelmed. Well, if you’re in the market for a new electricity or gas provider, Nifty can help with some crucial information! If you need a cash loan to cover a utility bill, you could also check out what we offer!

Electricity

Electricity prices tend to vary from state to state, so the first thing you need to do when comparing rates is to ensure you are getting the best deal you can. When comparing electricity prices, it could be useful to collect and analyse your previous bills from your past supplier. The more bills, the better as it gives you a better idea of how much you usually spend over different seasons.

You can then use these bills to compare the rates and charges from a new supplier. Using this method, you can identify the best price for your position. Though the main point of reference will be the price; there are a few other things that you should take into consideration:

• Exit fee’s – If you are leaving your current provider and being stung a nasty exit fee, you may want to look around for a new provider who doesn’t charge exit fee’s in case you want to change providers in the future.
• Online account – Most providers are doing this these days as most companies have gone paperless; this can be handy for keeping an eye on your bills and charges and make paying them more manageable.
• Bill smoothing – Some companies are offering this service now where customers pay the same amount each bill no matter how much electricity they use. Look out for this when comparing your suppliers and see who offers the best deal!

How does the company figure out how much power to charge you?

There are two different kinds of tariff charged, a fixed charge and a usage charge. The fixed charge is a fee that you pay to the company for supplying a building with power. A usage charge is a fee that you incurred based on the amount of electricity used within a given period. Both the fixed and usage charges are combined to make up the total bill.

The fixed charge will vary depending on several factors, such as the state you live in and the energy company you decide to use. The usage charge also varies depending on where you live, though the predominant influence is, obviously, the amount of electricity used.

Energy companies can measure energy usage through a metre located on each premises. Metres are often checked every month, though – in some cases; your provider may estimate the amount used instead of conducting a reading. If this is the case, the metre is (usually) measured on a bi-monthly basis, with estimate figures calculate in-between readings months. If the calculated amount is too high or too low, the bill following the next reading will rectify this discrepancy.

Now that you have the basics down pat you can confidently go and check out the plans offered by the companies in your state and be able to understand the terminology and negotiate the best plan for you and your family.

Gas

What is natural gas?

When I think about gas most of the time I think of the old houses with the giant bottles that needed refilling before you got a hot shower! Well not anymore! Many new homes have natural gas that is supplied from the street like our water. This can be used for things such as heating the houses hot water, gas cooking stove’s, fireplaces and more.

There are only 10 gas suppliers in Australia so it makes it a little difficult to change gas suppliers if you live in one of the unlucky states that only have one supplier!

What are the fee’s that Gas Company’s charge?

Gas companies also charge a fixed and usage charge. A fixed charge is a fee that is charged by the company to supply your house with gas, much the same as electricity and it does not vary. Usage charges are fees that are charged on top of the fixed fee’s and are comprised of one or a mixture of the following:

• Single rate – is a flat rate and is charged at the same rate no matter what time of day it is.
• Off-peak rate – Customers are charged different rates for different times of the day.
• Block rate – You are charged by how many blocks you use.
• Feed in rate – This is a rate for people with solar panels who actually get paid for the electricity that their panels produce.

When choosing a gas supplier you need to consider things such as:

• Billing period – How often do you want to pay your bills check what your prospective company offers.
• Tariffs – These are pretty important when it comes to choosing your gas supplier because it can decide how much your gas will cost.
• Pay your bill on time and get discounts – Many companies offer big discounts for paying on time, something to consider!

In conclusion, you now have a pretty good starting point on what the fine print on your bills are all about, so now you can go ahead and compare electricity and gas prices within your area and take advantage of all your options.

Can I get a personal loan for electrical bills?

Generally, online lenders can offer quick personal loans for electrical bills depending on your financial circumstances. Nifty Loans can provide loans for unexpected bills from $300 to $10,000. The repayment period will depend on the amount you choose to borrow. You can apply online in minutes, have an outcome within the hour* and if approved, get the funds in your pocket and ready to use in 60 seconds**.

Am I eligible to apply for an unexpected bill loan?

Eligibility requirements differ from lender to lender, so make sure to check that you’re eligible before you apply. To apply with Nifty, you just need to meet the four requirements below:

1. You must be over 18 years of age
2. Be an Australian citizen or permanent resident
3. Receive a regular income into a personal account for at least 3 months
4. Have an active mobile number and email address

If you meet the above requirements, you can begin your loan application! Scroll up and use our loan calculator to get started.

What type of personal loans can I get?

Whether you’re looking for an unsecured small loan or a secured large loan, Nifty Loans can help! We offer a variety of flexible loan options when you’re looking to borrow money and fast. Before you apply, check out the types of personal loans we provide:

Loan type	The loan amount	The loan term
Unsecured	$300 to $2,000	3 to 12 months
Secured	$2,000 to $4,600	9 to 24 months
Secured	$10,000	9 to 24 months

Found an option that suits you? Great! Scroll up and use our loan calculator to select how much you wish to borrow and for how long. 

Ready to apply?

Great! Scroll up to get started with our loan application today. You’ll be done in no time. If you have any questions about your application or our loan process, please contact our friendly team, we’re always happy to help.

*subject to when you submit your application

**Only available for NPP enabled bank accounts

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