Things to Know Before Changing Energy Contracts in Australia
Published January 24, 2026
Planning to alter energy contract plans? This can be a way to save money from your electricity bill cost. This will give you a chance to make a contract deal with electricity suppliers in Australia to assist you in saving money through the cost-effective energy solutions they offer. Huge benefits lie in changing energy contracts in Australia; thus, before you proceed to change your contracts, it is very important to be cautious. These are just some of the things you have to take note of when changing your energy contracts.
Things to know before changing energy contracts
1. Know the basics
You will be requiring an energy provider for obtaining gas and electricity. However, prior to that, you will have to enter into a contract.
As with any undertaking that comes with a written agreement, you have to read the terms and conditions that it encloses. The most important thing that you should do is take your time to read and scrutinize the contract well. You can also ask several questions to clarify any suspicion or clauses in the contract that might seem unclear to you.
Remember that energy contracts are binding; if there’s something that does not suit you well, do not sign the agreement and advise your energy retailer about your decision.
2. Understand the various types of Energy Contracts
Not all energy contracts are the same. Most contracts include various energy plans depending on how much you need or even where you live. Generally speaking, there are two types of energy plans:
- Standard retail plans: under this type of contract, there will be a minimum term or condition as stipulated by law.
- Market retail plans: As in traditional retail plans, there are conditions or terms attached to energy plans in this section as well, although it has more coverage in terms of flexibility. This plan is built upon prices in the market; therefore, it can have more exposure to price risks, though it can save more if consumption is regulated really well.
3. Choose the right energy contract period
It is also vital that the appropriate contract period in the relevant market is chosen, which will in essence affect the costs. It was suggested that by gaining an appropriate insight into the relevant market, it would be easier to make an appropriate choice in the contract period of the relevant market. For example. If the prices of the relevant market in the current period are lower than those in the following period, it may prove to be wise to choose the appropriate period.
4. Evaluate what you plan to do in
Plans for your future are also important considerations and are of critical significance as there are major developments that will affect your energy use. Do you have any planned additions or developments to your home or are there plans for the expansion of your business in your future? This is not all as these are some of your plans that you should not forget during this critical moment concerning your energy contracts.
5. Know how an energy broker can help
Shop around to look for a more favorable energy plan as per your requirements. An energy broker will assist you in finding energy suppliers in Australia as well as comparing various energy plans. An energy broker will help you in accessing the services of energy suppliers with discounted prices. It will also allow you to make use of the various energy plans as per your requirements. Energy brokers will also do their part in reviewing various energy plans as well as offers to provide you with the best energy plans.
Key Points to Remember
- An energy bill from your existing retailer of electric service will be sent to you until your supply is with a new retailer. The initiative to change retailers lies with you.
- Yet, you can still make a decision to switch after signing the energy contract, free from charges, as long as this is within 10 business days after signing the contract itself.
- Ensure that your final bill is settled or any pending bill or fee with your previous energy retailer is cleared.
- If you are on a fixed-term contract, a fee may be charged if you switch energy provider before your contract expires.
Changing energy contracts in Australia is a crucial process that needs to be taken into consideration, especially if you’re not getting huge savings from your electricity provider here in Australia. Recall these steps and do not hesitate to compare various energy contracts. Utility comparison partner like Utility Market is accessible to guide you on what to do to pick the right provider.
