How often should I compare electricity plans?

It's worth reviewing your electricity plan at least annually so you can be aware of what offers are available to you. However, it's important to check the terms and conditions of your existing contract to ensure there are no exit fees or penalties for switching which may negate the benefits of doing so.

Will I need to install new equipment if I switch electricity providers?

No – you won’t need to install any new equipment if you switch energy providers. The existing equipment such as your meter box will continue to be used and the new provider will simply take over your electricity supply.

How long does it take to switch energy providers?

It may only take a few minutes to compare plans and find the best possible offer for your needs through Savvy. Once you’ve made the switch, it usually takes around three to five business days for everything to be processed. However, this can vary depending on your provider and the region you’re in.

What happens if I'm on a fixed-term contract and want to switch energy providers?

If you're on a fixed-term contract, you may be charged an exit fee if you switch before it ends. It's important to check the terms and conditions of your contract before switching and calculate if the savings from switching outweigh the exit fee.

Will I experience any interruptions to my electricity supply if I switch?

No – there won’t be any interruption to your energy supply when you switch providers. The new provider will arrange with your existing provider for a smooth transition without your connection dropping out.

Can I switch electricity providers if I have solar panels?

Yes – you can still switch energy providers if you have solar panels. However, you’ll need to inform your new provider that you have solar panels and they’ll arrange for a new feed-in tariff.

What is the National Electricity Market?

The National Electricity Market (NEM) is a power system which spans around 5,000km in Australia and is considered the largest interconnected network in the world. It’s also the wholesale electricity market operating in Australia's eastern and south-eastern states. It was established in 1998 to create a single competitive and efficient market for electricity generation, distribution and retailing. The NEM covers the states of Queensland, New South Wales, Victoria, South Australia, Tasmania and the Australian Capital Territory. It operates on a gross pool system, where electricity is generated and sold to the market at a spot price, which changes every five minutes based on supply and demand. It plays a critical role in ensuring reliable and affordable electricity supply for businesses and households across Australia.

Will I have to pay any additional fees to switch energy providers?

You shouldn’t have to pay any additional fees to switch energy providers . However, you may be charged an exit fee if you switch before your contract ends, so it's important to check your existing contract before making the switch.