Some energy plans have pay on time discounts, which reduce the total cost of the bill when you pay your bill by the due date. Discounts do not always mean you will get the cheapest bill. Some of the cheapest energy plans do not have pay on time discounts – they just start with cheap energy prices. Only choose energy plans with a pay on time discount if you think you’ll always be able to pay by the due date. If not, choose an energy plan that does not have discounts.
Energy companies can only increase your energy prices once per year. The energy company must tell you about any price changes, at least five days before they change your prices. If you’re unhappy with the new prices, shop around for something cheaper.
Yes, concessions and discounts are different things. Think of concessions as a way to make the cost of energy, as an essential service, cheaper for those that need it. Think of discounts, for things like paying your bills on time, as an incentive offered by energy companies to entice you to sign up.
Some people do pay less for using electricity at night time, but not everyone does. To see if this is you, just check the back of your bill and look for the words ‘off peak’. If ‘off peak’ is written on your bill, call your energy company and ask them if these cheaper rates are for every appliance in your home or whether they’re limited to certain fixed appliances (usually electric hot water and concrete slab heating).
The rules say that the Best Offer notification must appear on your electricity bill at least every three months (and four months for gas). So, if you get a monthly bill you’ll only see the best offer appear on every third bill.
From 24 March 2023, a new round of the $250 Power Saving Bonus is giving Victorian households $250 to help with the cost of energy bills.
To apply for the $250, go to compare.energy.vic.gov.au or apply through one of the participating outreach partners.