How to Choose the Best Energy Plan for You

Suppose you want to compare your current energy plan with available alternatives from different energy suppliers. In that case, it is best to leave such services in the hands of a competent energy comparison site such as Econexx Comparison that has up-to-date software required to collate and present different energy plans.

When you rely on energy comparison sites to do the heavy lifting for you, all you have to worry about is which energy plan or tariff suits you best – and why. Although this is probably the easiest part of the entire energy comparison process, it could make or break the whole process and leave you with a worse plan than your original. 


Money To Be Saved

When deciding on the best energy plan that suits your needs, you should consider how much money you could save from switching plans. The possibility of increased savings is a huge motivator for people who have never changed energy plans (and are probably on a standard and expensive rate set by their energy retailer) and people who wonder why they should switch plans.

Although price should not be your sole consideration, it is a significant factor to consider when choosing energy plans. But you should note that the amount of money you save depends not only on what tariff you are on; the amount of energy you consume determines your energy bill, so you can save money by using less energy. 

Environmental-Friendly Energy Plans 

Environmental-friendly plans reduce your carbon emissions and, in doing so, contribute to a healthy future. Generally, two choices are good for the environment if you are committed to green energy: GreenPower, and solar plans. GreenPower is a program that allows energy retailers to buy renewable energy to sell to customers. Renewable energy can come from the sun, the wind, or waste.

It is easy to spot a GreenPower plan, as the label makes it easy to identify renewable energy plans which meet specific environmental standards. You can choose how much renewable energy you want to purchase as part of your energy plan – up to 100% renewable energy is purchasable through GreenPower. But you should note that the more renewable energy you choose to buy, the more expensive your plan is. To know how much GreenPower costs, look for a “renewable energy charge” on your electricity bill.

Solar plans require a solar energy system which can cost a lot of money. Installing a solar energy system does not guarantee saving money on electricity. Regardless, you might save money if your energy consumption is not excessive and your energy plan is cheap. The size of the solar system and the amount of direct sunlight it receives also determine how much money you can save with a solar plan.

Suppose you purchase your solar energy system from a solar panel supplier. In that case, you also need to consider a couple of things: who is responsible for the maintenance and repairs of the solar system? What happens at the end of the offer? Is the electricity price fixed or not?

The Type of Energy Plan

There are generally two main types of energy plans: standard retail plans and market retail plans. If you sign up for a standard retail plan, you should know that prices cannot change more than once every six months; this is mainly because the government often fix prices depending on where you live. Also, standard retail prices are generally higher than market retail plans, and retailers must inform you about price increases before implementing them. There is a limited amount of time in which you can default on your payment before your supplier cuts off your energy. 

Energy retailers set market retail prices so they can change at any time. Under market retail plans, your supplier will tell you via email, mail, or SMS when energy price will change and the tariffs and charges before and after the price change. If your energy price changes, your retailer is obligated to inform you at least five days before the change is implemented. 



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