26 electricity retailers offer ~1,354 electricity plans in Banks Pocket, QLD.

For the most part there is very little difference between electricity retailers, however there are a few other things you might take into consideration to help you pick a plan or retailer right for you.

🕐 Time of use or 1️⃣ Single rate tariffs

In deciding between time of use and flat rates, it can be useful to consider if you can modify your habits to take advantage of cheaper rates at certain times of day, or would prefer to just be able to use power at a flat rate whenever you choose. If you have (or intend to get solar) you'll need to consider if you can use power when the sun is shining as well.

🍁 Seasonal tariffs

Some plans have rates that change during the year, most often offering summer and winter variants. Depending on your climate and whether your home is electric, you may benefit from choosing a seasonal plan with lower rates in the seasons you use the most electricity. eg. If a plan offers lower rates in winter (because grid electricity usage drops due to gas heating) and you have electric heating, you may benefit from a plan that has a lower rate in winter.

🌞 Solar feed-in tariffs

While historically, being paid to send excess solar to the grid was lucrative, for the most part, feed-in tariffs are now low and are likely to change over time (trending towards zero). Being able to self-consume, or store your solar generated power is likely to make a bigger difference to your bill that trying to earn more by exporting power to the grid.

😤 Demand tariffs

Demand tariffs are a "peak capacity used" charge which can vary based off your peak energy usage. They can catch people unaware as even accidentally using a toaster at the same time as a kettle could double your demand charge as you're using more power at the same time. We consider them a disincentive to electrify and recommend staying away from them if you can. There are fairer ways for a network to charge for distribution while encouraging electrification and, for some, they add undue stress and complication to what should be a simple utility.

🌱 Green power available

Many plans off the abiity to purchase "Green power" for an additional cost per kWh. We don't currently consider purchasing offset green power into our calculations, but, if it's offered by the retailer, we do show this information. The rates to "upgrade" to green power tend to be relatively consistent across retailers, so please add this when swapping plans if it's important to you.

Pre-paid or post paid

Some retailers require that you pre-pay for power based off an estimate of your usage. This is more of a question of cash-flow timing than anything else, as it doesn't change the cost of power.

Contract or no contract

Some plans require you enter a contract with the retailer to purchase power from them for a period of time. Only you can decide if this is what you want, but consider that this will likely prevent you from taking advantage of lower prices should they become available in another plan. On the flip-side, the reverse can also be true and a retailer may have to honour a lower price for your contract if prices rise.