5 More Electricity Myths We’re About to Bust Wide Open

POSTED ON March 21, 2019 BY

Discounts are one of the biggest electricity myths

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A while back we shed some light on some of the biggest electricity myths in Australia.

From leaving appliances on to misconceptions about solar, we covered quite a broad range.

However this time we’re coming in with some myths targeted directly at your power bill.

We’re going to pull back the curtain on discounts, standing offers, and more.

Keen to learn about some myths that are costing you cold hard cash?

Then keep reading down below, or check out part one here.

* We do not compare all energy providers

1) Discounts = Savings?

Picture two energy providers.

One offers you a 15% pay on time discount.

The other offers you a 30% pay on time discount.

Now you always pay your bill on time, so the question is which do you go with?

The one with the bigger discount right?

A lot of people fall for this, and it’s a big problem.

Energy retailers often put their discounts front and centre in the marketing material.

They like to bombard you with big, easy to understand numbers like 20%, 30% or 40%.

The problem is that a discount is only half the story.

Do you want a pay-on-time discount or a guaranteed discount?

Do you want any discount at all?

Here’s what Electricity Monster’s Cory McGown has to say on the subject of pay on time vs guaranteed discounts:

What happens when you don’t pay the bill on time? You could get stung with late payment fees and lose your pay-on-time discount, so the discount might work against you. Pay-on-time discounts can be risky, if you have a guaranteed great rate regardless of late payment or paying early, you won’t have to worry

  • Corry Mcgown

    Cory Mcgown

    -Energy Analysis Expert

Then there are the rates overall.

A 30% discount on a $3000 power bill, is more expensive than a 15% discount on a $2400 bill.

The truth is that many of the sharpest plans are based around low rates, not big discounts.

In the past, we’ve taken a look at how the retailers stack up in that regard, so check out our reviews for more information.

READ MORE: Check out our full reviews of Simply Energy and Alinta Energy

2) Your deal can’t get much better

One of the biggest electricity myths is that you can’t get a better deal than you’re currently on.

We don’t blame you.

Ever opened up your power bill and just sighed and accepted it as the way things are?

You might not think there’s much you can do about your power bill, but the stats prove otherwise.

According to a 2018 study by the ACCC many Australians are still on the worst possible rates available.

The report found that over 37% of customers had not searched for a better rate in the past five years.

It also found that 37% of people who hadn’t searched for a better deal might also be on the most expensive rates.

Many of these people are on no discount at all and are just sitting on a standing rate.

When you combine the fact that they aren’t looking for a better deal, with the fact that they’re not looking for one, you’ve got a recipe for a punishing power bill.

If you think you might be on a standing rate or are part of the 37% who haven’t searched for better prices in years, give Electricity Monster a call.

We’d be happy to see if we could help you search for something better.

3) Network electricity is dirty

Next on our list of electricity myths is network electricity

You might think that all of the electricity you use in your home is coming from dirty, fossil fuel depleting sources.

While it’s true that there is a big reliance on traditional fuels, more and more providers are finding more carbon neutral ways to generate electricity.

However, it might be on you to seek out the providers who do.

Powershop is one provider well known for its commitment to cleaner energy.

They’ve topped the Green Energy Guide for the past two years now, with their ranking jumping from an 8.6 to a 9.7 in that period.

Not only are they involved in some renewable generation activities, but they’re also strongly carbon neutral, offsetting 100% of their total emissions.

It’s not just the smaller providers who are doing their part.

In recent times, the massive retailer AGL has seen their ranking jump from a mediocre 5.1/10 to a much better 7/10.

They did this by committing to close all their coal-fired plants by 2050, as well as making some investments in solar and battery storage.

4) Marine Energy – A Non-Starter?

If you’ve heard of marine energy, you’ve probably heard it’s not worth anyone’s time.

But in a country that doubles as an entire continent, shouldn’t we start thinking a bit more about all this ocean around us?

Marine energy is generated by waves, the tide, salt in the water, and ocean temperature changes.

If we’re able to make it past the difficulty in designing the facilities, there is, in fact, a lot of potential in marine energy.

There’s a small channel between Scotland and the island of Orkney in the northern UK.

This small channel has a functioning tidal turbine operating right now.

The turbine has generated over 3-gigawatt hours worth of power already, far exceeding expectations.

It’s also believed that the channel could generate enough electricity to power the entirety of London.

There’s a lot of coastline in Australia, seems like we could make a real go of it.

5) Comparing retailers is time-consuming and not worth it? A big electricity myth

The truth is it could take as little as fifteen minutes to get yourself on a better deal.

All you need to do is get in touch with the friendly team at Electricity Monster.

We’ve got a whole team of highly trained energy brokers who make it their job to find you a more cost-effective electricity plan.

We’ll just need to take a few of your details down, and we can get right around to finding you a better deal.

If we’re able to find you a better deal, we’ll take care of the rest.

Meaning you won’t have to contact your expensive old provider at all.

Shortly after the switch, you’ll get a welcome pack from your new provider.

So if you’re sick of the myths, get in touch with an expert, and sort out your electricity with Electricity Monster.

Our number is 1300 232 848, we look forward to hearing from you, or just input your details in the form below.

* We do not compare all energy providers

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* We do not compare all energy providers