Everything you need to know about Bill Hero
Bill Hero is a paid subscription service, but we guarantee we'll find more savings on your first switch than you'll pay for an entire year subscription. If we can't, you won't pay anything at all.
We take the kWh consumption and tariff data from your bill, and calculate what you would have paid for that same kWh usage using the same tariff type over an equivalent time period under every single one of the publicly available plans on the market. We include tariff type, solar feed-in, guaranteed & conditional discounts, and incentives.
Bill Hero is a Savings Service, not a comparison site.
Comparison sites make money by taking commissions from retailers, which means they're working for them, not for you. They don't really compare the market, and you or I can never really select the best deal, because their main incentive is to sell you into a plan that will generate a commission, not to find the plan that is best for you.
Also, comparison sites are one-time only, so you need to keep going back again and again to review your plan. Retailers know this is too hard, so they ratchet up their prices over time.
Bill Hero is different. We don’t seek or accept commissions from retailers. Ever. We're funded solely by subscribers like you, which means our only incentive is to keep you happy by making sure you're always on the best deal. We know exactly who we're working for.
Bill Hero is at your service.
The government comparison sites do cover all the publicly available plans, just like Bill Hero does. But they are over-complicated to use, you've got to do all the work yourself and then make the switch on your own. And you need to keep going back again and again to make sure you stay on a competitive plan.
Bill Hero is a full service offering that does all the comparison and ranking work for you, handles the switch for you, and then monitors your bills to keep switching you whenever you can save more.
We calculate what you would have been charged under every relevant publicly available plan vs what you were charged on your current bill. It can be very illuminating to see where your bill lands in the lineup.
Retailers use a pricing strategy that we call 'tease and squeeze'. They lure new customers in with great prices and discounts, and then ratchet the prices up over time, sometimes very quickly. So just comparing once is not enough. There is no such thing as set and forget for energy pricing. You need to stay on top of it all the time, which is boring and hard, or you need Bill Hero to stay on top of it for you
Under the retail energy regulations there is a minumum 10 business day cooling off period before your new retailer can start your new plan. If your home has a manually read meter, you will need a final reading before your switch can be completed. This can take weeks or even months.
The clock start ticking on your 12 month Bill Hero subscription on the day your first switch is complete and your new plan with your new retailer begins, no matter when you actually signed up to Bill Hero. The time it takes to complete your first switch is not included in your subscription.
It's possible that your current retailer might put forward a 'win-back' or retention offer after we've initiated your switch. You've got to wonder why did they wait for you to leave before offering you a better deal?
If they do send you an offer, just forward it to Hello@BillHero.com.au, and we'll compare it to the rest of the market and let you know if it's worth accepting.
Bill Hero includes solar in the comparison and ranking, so you can be sure you're switching to a plan that provides the cheapest combined price for the kWh you import from the network, and what you earn from the kWh you generate and export. If you're on a Premium feed in tariff, you get to keep that even when you switch retailers.
You'll need to pay your bill directly to your new retailer. Bill Hero does not handle payment collection
We let you specify the savings you'd need before switching again. Bill Hero wont bother you with a new switch until it finds savings greater than your Bothered Threshold.
Not yet, but we plan to in the future.
Bill Hero for SME business is on our roadmap. Send a request via our Contact form and we'll let you know when it's ready.
Discounts often feature prominently in the marketing of energy plans, but it’s hard to understand what the impact will be, since the discount can apply to either your kWh consumption, or to the final dollar amount of the bill.
Retailers often make their discounts contingent on on-time bill payment and/or direct debit, so your behaviour as a bill payer is a major influence on the effective price you will pay.
Bill Hero automatically includes all guaranteed discounts. We also accommodate conditional discounts by calculating your personalised comparison results based on the payment information in your bill.
If your bill does not specify if you paid your previous bill on time, then we'll assume you'll pay by direct debit, since this usually ensures the best possible prices. You can change the payment behaviour in our personalised rankings screen to see how prices can change due to payment behaviour
When you say you pay by Direct Debit we apply the full potential discount benefit for each plan, including any incremental discounting that may be specifically tied to direct debit payment.
When you say you always pay on time, we apply the full potential discount benefit for each energy offer, exclusive of any incremental Direct Debit discount.
When you say you sometimes pay on time, we apply half the potential discount benefit for each plan, exclusive of any Direct Debit discount.
When you say you do not pay on time, we do not apply any conditional discount benefits for any plan.
Many retailers offer one-time incentives in addition to discounts to market their energy plans. Incentives can take many forms, including fixed cash rebate or cash-back on the first bill, variable cash-equivalent incentives such as ‘first month free’ offers, non-cash incentives such as movie tickets or sports jerseys, conditional incentives, such as a sign-up bonus that applies only if you buy both electricity and gas at the same time
It’s tricky to include such incentives in a pricing analysis, because they will normally only impact the first bill, sometimes reducing that first bill by a significant amount.
We include only cash or cash-equivalent incentives in our pricing calculations - non-cash incentives like movie tickets and sports memorabilia are always excluded - and we calculate the price impact of those incentives over 1 year.
For example a $100 incentive on an Electricity plan will manifest as a $25 reduction to a quarterly estimated bill price for that plan.
From 1 July 2019, new regulation replaced the old Standing Offers with Default Offers across most of the National Energy Network. There are two kinds of Default Offer: The Default Market Offer (DMO) is set by the AER for Residential and SME single and single + controlled load tariffs in NSW, SA and South East QLD. In Victoria, the Essential Services Commission sets the Victorian Default Offer (VDO) for single rate and controlled load tariffs in Victoria only.
DMO rates are expressed as a single dollar value for a set annual consumption level, rather than as a price per day plus a price per unit of usage.
In Victoria, VDO rates are expressed as a price per day plus a price per unit of usage. Retailers are free to market and sell Market Offers, but they must make the VDO price available for those who want it.
Both DMO and VDO set a cap on the price that a customer will pay when they have not entered into a Market Offer with their retailer. They also set the benchmark against which any discounts offered in Market Offers must be expressed.
See https://www.aer.gov.au/retail-markets/retail-guidelines-reviews/retail-electricity-prices-review-determination-of-default-market-offer-prices for more information on the DMO.
See https://www.energy.vic.gov.au/victoriandefaultoffer for more information on the VDO.