To complete the Bill Watch details for your electricity bill and get suggestions for better deals to save you money, we need a few details.
There are some things you will need to confirm:
- Your postcode
- Your tariff type
- Other rates in your bill - such as controlled loads and solar feed-in tariffs
- Your bill start and end dates
- Your total bill amount
- Your usage details for each rate/tariff
- Green energy plans %
These details are available from your last electricity bill and help us estimate your future annual electricity cost using the best plans available for your area and applicable for your electricity meter type.
Go to Bill Watch in the Manage my Spending dashboard. From there select your electricity bill from Bills to Setup. Confirm that it's electricity and you will be stepped through setting up Bill Watch for electricity.
We need your postcode to identify the electricity plans that are available in your area.
If you entered your postcode during your account setup, it will pre-populated when you turn on BillWatch. You need to make sure your postcode is up to date so we suggest the plans that are available for your area.
If it’s blank, simply select it to enter in your postcode or suburb. You will then be able to select your tariff type and additional metres, and whether you have solar and green energy.
We need to know whether the tariff type for your electricity usage is a single rate or multiple rates.
Your tariff refers to how you are charged and the rates you are charged for your electricity usage and generally depends on your meter type and the available tariffs offered by your energy provider. Your tariff type is available from your electricity bill, typically found in the details of your electricity usage section of your electricity bill
Energy retailers have many different names for the tariffs they use, but generally, all tariffs fit into 2 categories: single rate tariffs and multiple rate tariffs.
An important point to note when identifying your tariff type, don’t confuse dedicated circuits or solar feed-in tariffs as necessarily meaning you are on multiple rate tariffs. These are special rates that are in addition to your tariff type. We’ll deal with these below in Other rates in your bill.
Single rate tariffs
Single rate tariffs are ones that have one rate for your main electricity usage (remember not to include any dedicated circuits or solar feed-in tariffs here). Typical names used by electricity providers for single rate tariffs are:
- Single rate
Multiple rate tariffs
Multiple rate tariffs are ones that have more than one rate for your main electricity usage (remember not to include any dedicated circuits or solar feed-in tariffs here), such as a rate for peak times and a rate for off-peak times.
Multiple rate tariffs usually contain some combination of rates for different times of the day:
- Peak time (the highest rate during the day when demand is at its highest)
- Shoulder (the mid-range rate for the day for times between peak and off-peak periods)
- Off-peak (the lowest rate during the day, typically overnight, when demand is at its lowest)
Typical names used by electricity providers for multiple rate tariffs are:
- Peak/Off Peak
- Time of use
- Two rate
Once you identify the tariff type on your bill, select either Single Rate or Multiple Rates on your Bill Watch bill.
Other rates in your bill.
In addition to your tariff, you may have additional rates on your bill that determines the cost of your electricity. The most common are Dedicated Circuits and Solar Feed in Tariffs.
Dedicated circuits are separate electricity lines that are generally used to power a single appliance, such as a pool filter system or heat pump, washer and dryer, fridge or other home appliance that demands a high volume of electricity. Residential plans may offer up to 2 dedicated circuits and each circuit will have separate rates applied to them.
Typical names used by electricity providers for dedicated circuits are:
- Controlled load (you can have more than one controlled load)
- The purpose for the circuit, such as “Heat pump”
If you have one or two dedicated circuits you should select Dedicated Circuit on your Bill Watch bill
Solar Feed-in Tariffs
Solar feed-in tariffs may apply if you have solar panels on your home. A solar feed-in tariff is the rate the electricity provider pays you for any electricity you put back into the grid from your solar panels.
If you receive a solar feed-in tariff, this will be displayed on your bill and you should select Solar Feed-in Tariff on your Bill Watch bill.
Usage amounts from your bill
Your electricity bill will include your electricity usage over the billing period, expressed in kilowatt-hours (KWH). Your bill will show your total kilowatt usage and your average daily kilowatt usage for each rate that applies to your plan.
For Bill Watch, we need your total kilowatt usage amount for each rate included in your bill for:
- either your single rate or multiple rates tariff
- any dedicated circuits
- solar feed-in tariffs you receive
This information is usually included in the details of your electricity usage section of your electricity bill.
If your multiple rate tariff doesn’t include a shoulder price, then leave this blank in Bill Watch. If you only have one dedicated circuit, then leave one of them blank.
An important point to note is, your usage information will also include your daily supply charge. For the most accurate comparisons, we suggest that you complete that as well. We can, however, do your comparisons without it.
Green energy plans %
Some plans offer electricity sourced from “green” options like solar farms, wind farms, hydro plants or other renewable electricity sources. If you select a green %, we will suggest to you only plans that offer this percentage of green energy.
It’s important to remember that green may mean different things to different electricity providers. You should ensure you understand the green electricity sources included in any plan you select.
Most plans offer a range of discounts which can drastically reduce the cost of your electricity bill. Make sure you include the total discount amount on your bill.
We recommend you take advantage of these discounts but need you to tell us whether you are interested in them or not.
You can select the discounts that interest you in Bill Watch by selecting:
- Pay on time / Direct Debit (provide you with substantial discounts on your bill if you pay on time or set up a direct debit arrangement for your bill)
- All other discounts (these may include sign-on bonuses or other one-off benefits when you adopt a specific plan)