Bill price vs Comparison price
Bill Hero sends an email with a summary of the results found for each bill processed, which includes Bill price, and Comparison price.
Bill price is the final price displayed on your bill, showing the amount you need to pay, or the amount that your account is in credit for that bill cycle.
Comparison price is a value calculated by Bill Hero that represents the charges associated with the current bill period. we use Comparison price to compare your bill against all the other plans available to you in the market
Generally, Bill price and Comparison price will be the same value, but not always. Here's why these can sometimes display different values.
Balance brought forward
If there was a credit or debit balance on your account at the start of the billing period, then the final bill price will include that credit or debit.
Bill Hero compares on the charges and credits accrued during the billing period, independently of whatever was the debit or credit balance for your account at start of the billing period, so we do not include the balance brought forward in the comparison price
Concession schemes vary by state, are are nearly always dynamically calculated on the base bill price rather than a fixed concession amount.
This means that Bill Hero cannot assume the the dollar value of a concession present in your bill will also apply for the alternative plans we calculate pricing for.
Bill Hero handles this by adding-back any concession present in your bill to find the base price, then we compare on that base price. This allows us to find the best priced plan for you excluding concession.
Your eligibility for your concession will not change no matter which retailer and plan you switch to, but the dollar value for your concession credit under that new plan will be different.
The best priced plan excluding concession will still be the best priced plan after concession has been recalculated under the new plans and reapplied.
Bill Hero treats the Queensland Electricity asset ownership dividend as a concession.
Bill Hero does not currently include accredited Greenpower in the comparison pricing. Greenpower is a government accredited scheme that allows energy consumers to purchase 100% renewable energy. When you buy Greenpower, your retailer purchases and surrenders Greenpower certificates issued by accredited renewable energy generators. Each certificate represents 1 mWh of electricity. Only renewable generators built since 1997 are accredited under this scheme - Older renewable generation assets such as hydro do not qualify under this scheme.
If your bill includes a Greenpower line item, Bill Hero will exclude the dollar value of your Greenpower premium from the comparison price, and will compare your bill against all alternative plans also excluding Greenpower.
In general, the Greenpower premium is a relatively small component of the overall bill cost, and so even though different retailers may price the Greenpower component differently, the overall price position of any plan will not change significantly with our without Greenpower.
You bill can include a variety of one-time fees and charges including credit card processing fees, meter reconfiguration fees, late payment fees, etc.
These kinds of fees do not relate to your consumption or bill period duration, and they vary between retailers.
We do not include these kinds of fees in the comparison price