5 Common Myths for Changing Energy Providers for Businesses
If your business is interested in changing energy providers, but are cautious as to whether you should, you may be holding onto a few common misconceptions that are preventing you from taking the leap. It’s worth reading our blog to combat some of these myths and understand how simple the process of switching really is.
The WA electricity market
The West Australian energy market was deregulated in 2006, allowing contestability and competition within the market. However, understanding the energy market can be confusing. Essentially, no homes or small businesses can switch. Only those businesses who use more than 50MWh each year, the equivalent of 9 average households, can choose to change their energy provider.
To be contestable to switch to an alternative electricity provider, you must meet the following criteria:
- You use more than 50 MWh of electricity each year; or
- Your electricity is not supplied by the South West Interconnected System
If the above applies to you, you have the option of switching your electricity provider to secure a more competitive electricity rate for your business or seek a better customer service experience.
Myth #1: I’m under contract and can’t switch
When you sign up to an electricity provider, you agree to their Terms & Conditions and therefore, are technically under contract. However, you are never signed up to anything you can’t leave if you no longer wish to be. In most cases, you will be charged an exit fee and then you are free to switch to whomever you select.
Myth #2: Switching is too much hassle
Switching energy providers doesn’t have to be difficult. The actual process of switching can be done in as little as 5 minutes. Often the research into each energy provider and comparing them is what takes up the most time. When you are ready to switch, your new electricity retailer will contact your previous retailer for you and handle the exit process.
Infinite Energy has made the process of switching electricity retailers simple and hassle-free. Learn more about why you should choose Infinite Energy as your business electricity retailer here.
Myth #3: Competitive energy suppliers are a scam
All electricity providers are by law, are required to abide by the guidelines and regulations outlined by the state’s public utility commission. Therefore, any unlawful behaviour or breach of these laws, which would include pricing, contracts, regulations related to switching providers etc. will be required to pay fines accordingly or will be prohibited from operating.
While a lot of electricity providers take a blanket approach to setting electricity tariffs, Infinite Energy analyses your actual business electricity consumption data using sophisticated software to determine if we can offer you a cheaper tariff.
We are also able to be flexible in designing customised tariffs which reward your particular consumption profile. This is how we can give you the best business electricity rates on the market.
Myth #4: If I leave the default retailer, my energy won’t be reliable
Businesses that buy directly from the default retailer, which in WA’s case is Synergy, do not receive better quality, faster transportation or preference than to those who buy through third parties. All electricity is created and distributed equally.
Western Power is responsible for maintaining the wires and infrastructure that transports the electricity between homes and businesses, regardless of which retailer you select.
Myth #5: ‘I don’t want the power to go off’
At no point will your electricity be disconnected. Switching electricity providers is a seamless process and won’t interrupt your electricity supply to your business, so you can continue operating as usual.
Infinite Energy offers Perth businesses a more competitive rate for their electricity, creating customised tariffs and energy plans that are designed to suit your consumption. We can help you reduce the amount of electricity you need to purchase by offering professional advice on how to implement energy efficiency measures, the installation of solar power if appropriate, and providing you with tools to measure and monitor your energy usage in real time.
If you would like more information on how your business can save with Infinite Energy, contact us today.
Alternatively, if you have any other questions regarding making the switch to Infinite Energy, we recommend reading our blog: 10 FAQ on Switching Energy Providers.