Did you know there are more than 25 electricity providers in Australia? So you might not realise that a range of companies might be offering cheaper power than your current provider.

That’s why it’s a good idea to shop around every 12 months.

Even if got the best deal on the market when you signed up, providers regularly change their plans and prices, so there might now be a better alternative.

Here’s how to change electricity providers in five easy steps.

1. Check your bill

   Find your most recent bill. That will tell you:

   • Who your current provider is

   • How much electricity you’re using

   • How much you’re paying

   • Your NMI (national meter identifier)

   • Your meter number

2. Shop around

   Next, visit CompareMyEnergyBills to compare your options.

   With so many providers out there, it’s possible you can get a similar plan – or even a better plan

   – for less money.

3. Do your due diligence

   Found a better plan? Congratulations! But don’t switch just yet.

   If you’re on a contract with your current provider, you might have to pay an exit fee to break the contract. Check if this applies to you before changing provider.

4. Get a copy of your new plan

   If you do decide to switch, get a written summary of your new plan, known as the Basic Plan Information Document.

   The BPID will outline rates, discounts and any contract period.

5. Switch – and wait

Once you switch plans, your new provider will notify your old provider that it is now taking over your account.

However, the switch will only be finalised when your meter is next read, which could take up to three months.

You can accelerate the process by asking your new provider to do an early meter reading, although you may have to pay a fee for this.

Lower your power bill right now

Switching power providers is easy! Click here to compare your options. Do it right now – if you find a better deal, it will take you only 30 minutes to switch.