Oleksandr Petrykov, the founder of LetzCompare, wants to shift the power balance back to consumers  Photo: Matic Zorman

Oleksandr Petrykov, the founder of LetzCompare, wants to shift the power balance back to consumers  Photo: Matic Zorman

Taking the time to shop around for your telecom provider helps to get the most bang for your buck, explains LetzCompare founder Oleksandr Petrykov.

Finding yourself freshly in Luxembourg and with a whole lot of bits and bobs to set up, it may be tempting to go with a friend’s suggestion when it comes to your telecom provider. According to Petrykov--who started Luxembourg’s first telecommunications price differentiation website LetzCompare--a lot of people who’ve lived in Europe go for brand recognition and choose a provider they’ve heard of if they haven’t received any recommendation. “The biggest mistake people make is they don’t compare,” he says.

Taking into account your personal situation is essential, as there is no one-size-fits-all internet, TV or phone plan. Naturally, working from home necessitates a reliable and stable connection and sufficient speed, while some may not be too sure how long they will stay in their current accommodation which may impact the length of their contract. Picking up a short-term solution like an unlimited contract for a SIM card that can be cancelled at any time is a good solution for those who don't know how long their stay in Luxembourg will be. A 4G Box, offered by some companies, provides a simpler solution for home internet but it comes with the disadvantage of a limited data in terms of downloads. For those who will remain settled, on the other hand, going for the most affordable cost over time option is the way to go. “They should look at the total contract cost, [which represents] how much this service will cost over a period of time,” says Petrykov.

However, offers change with time, and a certain contract from five years ago can cost significantly less today. “Once your contract is finished, you have to check what’s out there on the market,” insists Petrykov.

The standard of life in Luxembourg is high and Petrykov reminds that newcomers should be prepared to pay a bit more for a similar service that they may receive in the country of their prior residence. Your location and consumption are two of the main things to take into consideration when signing a telecom contract.

Research conducted by LetzCompare shows that eight out of ten respondents cannot name more than three telecom providers while in the grand duchy there are 11. So there are more than a few options which comes in handy when comparing prices and when looking for a more left-field solution.