5 Common Myths for Changing Electricity Providers for Businesses
If your business is interested in changing electricity providers, but are hesitant 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 to a new electricity provider 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, only larger businesses that use more than 50MWh each year, the equivalent of 9 average households, can choose to change their energy provider. This, unfortunately, means that at this time, no homes or smaller businesses can switch electricity providers.
To be contestable to switch to an alternative electricity provider within WA, you must meet the following criteria:
- You use more than 50 MWh of electricity each year; and
- Your electricity is supplied by the South West Interconnected System
If the above applies to you, you have the option of switching your electricity company 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 and conditions and so are technically under contract. However, this doesn’t mean that you are completely without options, as in most cases, you will simply be charged an exit fee and then you are free to switch to a new electricity provider as you please. On a positive note, the savings you experience on your power bills after switching will often outweigh the costs you paid for switching energy companies.
Myth #2: Switching is too much hassle
Switching electricity companies 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 electricity 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 electricity retailer for you and handle the exit process.
Infinite Energy has made the process of switching electricity providers 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 electricity retailer, my energy won’t be reliable
Businesses that buy directly from the default electricity retailer, which in WA’s case is Synergy, do not receive better quality, faster transportation or preference than 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: If I switch, my power will be turned off
At no point will your electricity be disconnected. Switching electricity companies 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 and South-West 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.