Myth 1: “I cannot switch energy providers because I am under a contract.”

A contract is technically formed when you sign up with an electricity provider and agree to their terms and conditions. This contract would probably be better named as an agreement as there is generally not a locked-in period attached to the contract. Therefore, there is no need to worry, as you will not be charged an exit fee to leave your existing electricity supplier and switch energy providers. You can then transfer to a new electricity provider at your discretion. You will only have to pay your old energy provider for any power used up until the time of switching. In the past, there were contracts, and sometimes an exit fee was charged. Savings from switching energy companies often outweigh any costs associated with switching. So don’t miss out on potential savings – be sure to check the latest electricity rates and compare energy plans with a free comparison using the online tool at Select and Switch.

Myth 2: “Switching is too complicated, and my supply will get cut off.”

It’s not difficult to switch energy plans. Within five minutes, you can switch providers. Nowadays, even researching and comparing energy plans doesn’t take a lot of time. Select & Switch allows you to compare energy providers and switch within minutes. It is easy to switch electricity providers using the free online comparison tool from Select & Switch. If you’re looking for ways to reduce your energy costs, switching to 4Change Energy plans can be a great solution. One of the main benefits of choosing a 4Change Energy plan is that you’ll have more control over your energy costs.

After you switch retailers, it takes the new retailer 2-3 business days to process your order and provide you with a welcome pack, with a 10-day cooling-off period and a two-day transition period. The advantage for consumers is that they can switch to a new energy retailer and benefit from a better energy offer. Moving to a new retailer or changing contracts won’t interrupt your electricity or gas supply. The supply will remain constant, and all that changes is a different energy company that will now bill you for your electricity and/or gas usage.

Myth 3: “Switching energy providers won’t save any money.”

Shopping around is a wise move to ensure you get the best deal. It is possible that other providers offer discounts or incentives for new customers that you are not taking advantage of if you haven’t changed providers recently.

There are a number of factors that determine how much you might be able to save, such as where you live, what kind of plan you have, and how much energy you use. First-time switchers at Select & Switch can save, on average, $300-$350 a year and sometimes even more, but the amount you can save will vary depending upon your current energy plan. In only a few minutes, you can complete a free energy plan comparison using the online tool provided by Select and Switch and find out how much you can potentially save. When you find a better energy plan, then you can also switch energy providers using the same online tool. So simple, quick and easy.

Myth 4: “It is my landlord’s plan that I must follow.”

You are not obligated to use the energy provider preferred by the property owner if you rent a home. Especially if you think you can get a better deal, you have the right to switch if you have your own name on the account and you pay the bills.

Exceptions include:

• You cannot switch providers under your rental agreement (for example, if the landlord pays the bills);
• Several properties (e.g. in an apartment block) are served by the same company within an embedded network.

Taking the time to read your lease carefully and asking questions before signing it is clearly important. It can be beneficial to let the landlord pay the utility bills or to be a member of an embedded network. Always make sure you get a good understanding of what you’re getting yourself into prior to signing it. It may also be better for you to pay your own utility bills and have the freedom to search and find the best energy plans and offers available to you, as you could be much better off financially.

Myth 5: “There is no difference between energy companies.”

While this sentiment is totally understandable given the rising costs of energy, you might be surprised at how different power companies can actually be when it comes to their rates. Depending on where you live and what kind of tariff you’re on, electricity usage rates range from around 16 cents per kWh to more than 38 cents per kWh. Getting a bad deal can result in you having to pay hundreds more than you should each year. The customer service and support offered by energy providers can also differ considerably. Customer support is available 24/7 in some cases. Others are packing up and going home at 5 pm on Friday. Price is nearly always a strong factor when deciding on which energy plan is best for you, but there are other factors to consider as well. The customer service, available green energy offers, online usage tools and other perks that may be provided by your energy provider are other items that you may wish to weigh up as part of your energy choice. Select and Switch has a free online energy plan comparison tool that will help you see any potential savings and also the other features that the energy plans may provide. Head to www.selectandswitch.com.au today to compare energy plans and find out how much you may be able to save.