One Big Switch - is it worth it?
One Big Switch featured on A Current Affair a little while ago. In fact, they've been popping up in the media all over the place.
Although they have worked on 'The Big Bank Switch' in the past, One Big Switch's current focus is high electricity bills.
Anyway, the story on ACA claimed that households can save between 12% and 16% on their electricity bill, depending on the state you live in.
What is One Big Switch?
In essence, One Big Switch is a marketing engine.
They get large numbers of people 'on board' with their campaigns then use this market power to get good deals on certain household items.
It's a bit like those daily deal sites, but aiming at the bigger ticket household expenses.
Here's the offer
For me (in NSW) this was the offer:
What's the catch? Is it a scam?
It's no scam, but of course there are a few catches. To their credit, the key conditions are fairly clearly disclosed. The 3 year contract being the main one.
The above offer might sound great, but frankly, you can give yourself more options if you do the research yourself.
For example, I currently already get 10% off the regulated electricity tariffs through supplier DoDo. And my contract is only 1 year, not 3 years.
Also, since looking into the above offer my gas retailer (AGL) called up to offer me the exact same deal (12% off if I get both electricity and gas from them).
It's all good
If you are not getting a discount off regulated tariffs with your current supplier I strongly suggest you research your options.
If you're pressed for time, I don't see any harm in going with a service like One Big Switch. Just be sure to read the key conditions, and don't forget to check the status of your current contract (you wouldn't want to be slugged with hefty termination fees just to gain a few percent saving).
- Ryan McCarthy