Choosing an energy plan when renting

If you’re moving house, you’ll need to call your energy retailer in advance and give them your new address. Discuss with them whether you have the option to keep your old energy plan at your new home.

Types of contracts

Standing-offer contracts and regulated contracts are basic electricity and gas contracts with terms and conditions that are prescribed by law and aim to protect your rights, according to NSW Trade & Investment. The prices should change no more than once every six months.

Market retail contracts’ terms and conditions are generally quite different, and you can negotiate a deal directly with these providers that may be cheaper than that under a standing or regulated contract. These providers sometimes chuck in extras, such as magazine subscriptions. But prices for these contracts can change more often than those of a standing contract, even if you’re on a fixed term, and you may incur exit fees.

It’s important to read your contract properly before signing, as it’s legally enforceable.

When you can’t choose

Sometimes, as a renter, you don’t need or can’t choose your own gas or electricity contract, as the landlord may onsell electricity or gas to you.

You may still be able to exit the contract you have with your landlord and sign up to a new contract and a new retailer. However, you need to check whether you have an individual meter. The potential costs for having a meter installed may not be worth it.

How to choose

The easiest way to make your choice is to compare prices at the Government site, Energy Made Easy. You can choose “no fixed term” if you like, and the site gives you your options based on your estimated annual usage and postcode.

Finally, when you’ve picked the best choice for you, if possible, go back to your current retailer and ask them whether they’ll match the price!