Compare Electricity Plans Australia | 2024 Prices by State
Perhaps the single biggest factor when it comes to switching energy providers in Australia is cost. The price of energy is on the rise, which means comparing energy plans and switching to a better deal can save you big money on your energy bills. In this guide, we compare electricity providers in each state to help you find the cheapest electricity plans in your area.
| Energy Provider + Plan | Estimated Yearly Price | Discount off Reference Price | Additional Information |
|---|---|---|---|
| $1,396 / year | -23% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 95.41c/day |
| $1,411 / year | -22% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 85.38c/day |
| $1,435 / year | -21% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 73.96c/day |
| $1,437 / year | -21% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 57.00c/day |
| $1,464 / year | -19% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 66.00c/day |
| $1,491 / year | -18% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 84.78c/day |
| $1,494 / year | -17% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 76.41c/day |
| $1,502 / year | -17% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 81.17c/day |
| $1,518 / year | -16% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 88.00c/day |
| $1,649 / year | -9% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 78.10c/day |
| $1,751 / year | -3% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 130.68c/day |
| $1,810 / year | Same as reference price | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 101.20c/day |
| $1,845 / year | +2% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 100.97c/day |
| $1,902 / year | +5% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 122.10c/day |
| Kogan Energy Kogan with Free First | $1,399 / year | -23% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 95.41c/day |
| Amber Electric Amber Plan | $1,477 / year | -18% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 88.03c/day |
| Pacific Blue Retail Blue First | $1,499 / year | -17% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 78.10c/day |
| Nectr Energy 100% Clean | $1,614 / year | -11% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 100.87c/day |
| CovaU Energy Freedom Residential Single | $1,705 / year | -6% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 88.02c/day |
| Diamond Energy Everyday Renewable Saver | $1,755 / year | -3% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 71.50c/day |
| Future X Power Market Offer - RESI Anytime | $1,810 / year | Same as reference price | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 106.26c/day |
| Next Business Energy NBE Standing NSW Ausgrid Anytime | $1,810 / year | Same as reference price | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 88.00c/day |
| ReAmped Energy Standard Anytime | $1,520 / year | +1% | Benefits: Smart Meter Compatible Daily Supply Charge: 86.30c/day |
| GloBird Energy Residential Standing Offer | $1,969 / year | +9% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 113.30c/day |
*Figures are for illustrative purposes only and don't compare all products, providers, plan features, offers, or rates. Products are compared like-for-like and any distinctions between products are clearly marked. Not all offers may be available in all locations or distribution networks. Rates based on electricity distributor for Sydney (2000) with average usage of 3,900kWh/year. Calculations are based on the reference price for this area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated July 2024.
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Speak to an Energy Advisor to Compare & Switch Electricity Plans:
Compare Electricity Plans by State
Each state has their own rules and regulations meaning that finding cheap electricity plans depends on the state in which you live.
Therefore, we have compared energy providers from each state against the reference price to find the cheapest electricity plans offered throughout Australia.
Select your state from the drop-down list below to see the best electricity rates.
Methodology: How Did We Compare Plans?
For all of the following electricity comparisons, we took the electricity average usage for each capital city and compared the electricity plans to the reference price in each area according to the average usage.
All plans reflect single-rate residential tariffs with no controlled load and are based off prices found on the government's website "Energy Made Easy". We recommend doing your own research to verify the cheapest energy plans at your time of sign-up.
Electricity Plans NSW
Since the energy market was deregulated in 2014 in NSW, energy providers in New South Wales have some of the best electricity prices and discounts in Australia.
This is good news for customers as it means you are likely to find cheap electricity plans available on the market. When comparing energy prices in New South Wales, you’ll want to pay attention to the discount off the reference price.
This discount shows how much less a provider’s electricity plan is, compared to the reference price for your energy distributor network.
Below, you will find a list of energy providers in New South Wales, along with their cheapest electricity plan and how much of a discount off the reference price they offer. We have calculated the estimated annual cost based on the average annual electricity usage for your network.
For the comparison table below, the reference price is $1,827 / year with low usage of 3,103kWh / year.
Energy Provider + Plan | Estimated Yearly Price | Discount off Reference Price | Additional Information |
|---|---|---|---|
| $1,396 / year | -23% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 95.41c/day |
| $1,411 / year | -22% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 85.38c/day |
| $1,435 / year | -21% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 73.96c/day |
| $1,437 / year | -21% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 57.00c/day |
| $1,464 / year | -19% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 66.00c/day |
| $1,491 / year | -18% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 84.78c/day |
| $1,494 / year | -17% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 76.41c/day |
| $1,502 / year | -17% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 81.17c/day |
| $1,518 / year | -16% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 88.00c/day |
| $1,649 / year | -9% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 78.10c/day |
| $1,751 / year | -3% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 130.68c/day |
| $1,810 / year | Same as reference price | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 101.20c/day |
| $1,845 / year | +2% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 100.97c/day |
| $1,902 / year | +5% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 122.10c/day |
*Figures are for illustrative purposes only and don't compare all products, providers, plan features, offers, or rates. Products are compared like-for-like and any distinctions between products are clearly marked. Not all offers may be available in all locations or distribution networks. Rates based on electricity distributor for Sydney (2000) with average usage of 3,900kWh/year. Calculations are based on the reference price for this area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated July 2024.
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We also recommend taking a look to see if you qualify for discounts and rebates in NSW such as the low-income energy rebate, solar energy rebate, or the family energy rebate.
Electricity Plans Canberra, ACT
The government still has tight regulations on the energy market in the ACT. This means that, unlike other states, customers in the ACT have fewer options to choose from.
However, there are a few residential electricity providers who have cheap electricity rates and special offers in and around Canberra. As of October 2021, energy providers in the ACT must now disclose their standing offer. This is good news for customers as it's now even easier to see if you are getting a good deal versus the reference price.
To help you with this, below we have compiled a list of the cheapest electricity plans for providers in the ACT. We have categorised them by their usage rates and supply charges.
For the comparison below, the reference price is $2,527 / year with low usage of 4,344kWh / year.
Energy Provider + Plan | Estimated Yearly Price | Discount off Reference Price | Additional Information |
|---|---|---|---|
| $1,512 / year | -40% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 111.10c/day |
| $1,520 / year | -39% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 95.00c/day |
| $1,603 / year | -36% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 112.20c/day |
| $1,676 / year | -33% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 130.96/day |
| $1,819 / year | -27% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 101.86c/day |
*Figures are for illustrative purposes only and don't compare all products, providers, plan features, offers, or rates. Products are compared like-for-like and any distinctions between products are clearly marked. Not all offers may be available in all locations or distribution networks. Rates based on electricity distributor for Canberra (2600) with average usage of 4,600kWh/year. Calculations are based on the reference price for this area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated July 2024.
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Electricity Plans VIC
The energy market in Victoria has been deregulated since 2009 allowing enough time for the market to fully embrace comparisons and switching.
In fact, according to Selectra's study on the average energy bill in Australia, residents of Victoria have the 3rd lowest bills in all of Australia. This is thanks to the 22 different energy suppliers operating in the state and competing on price.
If you’re interested in finding the cheapest electricity plans in Victoria, pay attention to the discount off the reference price. This discount shows how much less (or in some instances more) you will be paying compared to the government-set Victorian Default Offer. Keep in mind that some households with solar panels could qualify for a solar rebate in Victoria and help reduce your electricity bill.
Below you’ll find a list of electricity providers in Victoria, along with their cheapest available electricity plan, the discount off the reference price, and the estimated annual cost for the average energy usage for that postcode.
The reference price used is $1,793 with low annual usage of 1,825kwh of electricity.
Energy Provider + Plan | Estimated Yearly Price | Discount off Reference Price | Additional Information |
|---|---|---|---|
| $1,054 / year | -38% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 77.93c/day |
| $1,182 / year | -30% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 66.00c/day |
| $1,208 / year | -29% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 88.74c/day |
| $1,224 / year | -28% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 89.89c/day |
| $1,224 / year | -28% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 89.89c/day |
| $1,232 / year | -28% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 58.00c/day |
| $1,516 / year | -27% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 97.79c/day |
| $1,320 / year | -22% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 103.73c/day |
| $1,334 / year | -22% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 97.97c/day |
| $1,375 / year | -19% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 93.50c/day |
| $1,385 / year | -18% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 80.67c/day |
| $1,536 / year | -10% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 149.60c/day |
| $1,555 / year | -8% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 111.53c/day |
| $1,562 / year | -9% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 114.40c/day |
| $1,569 / year | -8% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 115.25c/day |
| Blue NRG Blue VDO Single Rate | $1,569 / year | -8% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 115.25c/day |
*Figures are for illustrative purposes only and don't compare all products, providers, plan features, offers, or rates. Products are compared like-for-like and any distinctions between products are clearly marked. Not all offers may be available in all locations or distribution networks. Rates based on electricity distributor for Melbourne (3000) with average usage of 4,000kWh/year. Calculations are based on the reference price for this area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated July 2024.
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Electricity Plans QLD
Residents of Queensland have the cheapest electricity bills in all of Australia.
If you're lucky enough to live in South-East Queensland, you can choose your energy provider. This means you're free to compare the cheapest electricity rates in Queensland and switch providers whenever a better deal comes along. (Residents of regional or rural QLD receive their electricity from Ergon Energy by default.)
Below you'll see all the cheapest electricity rates in QLD. You can also take a look at our dedicated guide to electricity providers and plans in South-East Queensland for more info.
For the comparison below, the reference price is $1,969 / year with low usage of 3,395kWh / year.
Electricity providers are listed alongside their cheapest electricity plan, as well as the discount off the reference price, and estimated annual cost based on the reference price and average annual usage for those in the distribution network.
| Energy Provider + Plan | Estimated Yearly Price | Discount off Reference Price | Additional Information |
|---|---|---|---|
Alinta Energy HomeSaver | $1,571 / year | -23% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 100.94c/day |
SUMO Energy Switch Residential | $1,599 / year | -22% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 92.84c/day |
Powershop Energy Power House | $1,639 / year | -20% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 112.92c/day |
Ovo Energy The One Plan | $1,676 / year | -18% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 105.60c/day |
Energy Locals Local Rewards | $1,683 / year | -18% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 102.00c/day |
 Red Energy Living Energy Saver | $1,694 / year | -17% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 97.30c/day |
AGL Energy Value Saver | $1,767 / year | -14% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 120.02c/day |
Dodo Gas & Power Residential Market Plan | $1,783 / year | -13% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 121.76c/day |
 Tango Energy eSelect | $1,943 / year | -5% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 106.70c/day |
Origin Energy Go Variable | $1,963 / year | -4% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 131.13c/day |
EnergyAustralia Standing Offer | $1,964 / year | -4% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 115.50c/day |
Momentum Energy Nothing Fancy Electricity | $1,996 / year | -3% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 147.62c/day |
Engie Energy Engie Standing Elect | $2,093 / year | +2% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 114.94c/day |
1st Energy 1st Saver | $2,179 / year | +6% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 137.50c/day |
*Figures are for illustrative purposes only and don't compare all products, providers, plan features, offers, or rates. Products are compared like-for-like and any distinctions between products are clearly marked. Not all offers may be available in all locations or distribution networks. Rates based on electricity distributor for Brisbane (4000) with average usage of 4,600kWh/year. Calculations are based on the reference price for this area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated July 2024.
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We also recommend seeing if you qualify for the Queensland government energy rebate or a solar energy rebate in Queensland.
Electricity Plans SA
South Australia tends to have higher electricity costs than other states in Australia, which makes finding the cheapest electricity plans all the more important.
Electricity plans in South Australia are compared using the discount off the reference price, which is set by the government and based on your distribution network.
Below, you will find the cheapest electricity providers and plans in South Australia, along with the estimated annual cost for the average electricity usage in your area, and the discount you can expect with that electricity plan.
For the comparison below, the reference price is $2,279 / year with low usage of 2,920kWh / year.
Energy Provider + Plan | Estimated Yearly Price | Discount off Reference Price | Additional Information |
|---|---|---|---|
| $1,847 / year | -17% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 102.77c/day |
| $1,856 / year | -16% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 114.00c/day |
| $1,985 / year | -10% | Benefits: Solar Feed-In & Smart Meter Compatible Daily Supply Charge: 99.00c/day |
| $2,069 / year | -7% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 99.00c/day |
| $2,073 / year | -6% | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 97.80c/day |
| $2,085 / year | -6% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 100.96c/day |
| $2,107 / year | -5% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 106.70c/day |
| $2,118 / year | -4% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 99.65c/day |
| $2,118 / year | -4% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 110.35c/day |
| $2,143 / year | -3% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 126.50c/day |
| $2,153 / year | -3% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 126.37c/day |
| $1,158 / year | -3% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 154.77c/day |
| $2,230 / year | +1% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 113.52c/day |
| $1,260 / year | +2% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 121.46c/day |
| $2,304 / year | +4% | Benefits: Solar Feed-In & GreenPower Daily Supply Charge: 117.70c/day |
*Figures are for illustrative purposes only and don't compare all products, providers, plan features, offers, or rates. Products are compared like-for-like and any distinctions between products are clearly marked. Not all offers may be available in all locations or distribution networks. Rates based on electricity distributor for Adelaide (5000) with average usage of 4,000kWh/year. Calculations are based on the reference price for this area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated July 2024.
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Keep in mind, some households could reduce their energy bills with a concessions energy discount or a solar rebate from the South Australian government.
Electricity Plans Hobart, TAS
The government has historically had very strict regulations on the energy market in TAS. This means that, unlike other states, customers in Tasmania have fewer options to choose from.
However, in recent years, there have been a few residential electricity providers who have cheap electricity rates and special offers in and around Canberra. Since 2019, there have been 6 new providers in the State - and currently there are four.
To help you find the best plan, below we have compiled a list of the cheapest electricity plans for providers in TAS. We have categorised them by their yearly rates, usage rates and supply charges.
For Tasmania, there is currently no refernece price as the market is still young, but the comparison below is based on low yearly usage of 5,986kWh / year.
Rank | Energy Provider + Plan | Estimated Yearly Price | Additional Information |
|---|---|---|---|
| $3,090 / year | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 89.00c/day | |
| $3,090 / year | Benefits: Solar Feed-In, GreenPower & Smart Meter Compatible Daily Supply Charge: 121.44c/day |
*Figures are for illustrative purposes only and don't compare all products, providers, plan features, offers, or rates. Products are compared like-for-like and any distinctions between products are clearly marked. Not all offers may be available in all locations or distribution networks. Rates based on electricity distributor for Hobart (7000) with average usage of 24.5kWh/day. Calculations are based on the reference price for this area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated July 2024.
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How to Find an Electricity Plan
Finding cheap electricity requires patience and some knowledge of the energy market in your area and how to read and compare electricity rates.
The main things to look at when trying to find cheap electricity are:
- Look for the plan with the lowest usage rates.
- Look for low supply charges, but keep this as a second priority.
- Compare electricity plans to the Reference Price.
Usage Rates, Supply Charge & Reference Price
The most important point on this list is to prioritise finding a plan with the lowest usage rates.
Usage rates are prices you are charged for each unit of energy that you use.
The key to finding a cheap electricity plan is to keep your usage rates low. Since your usage rates get multiplied by the amount of energy you use, this is where the bulk of your energy bill will come from.
The other charge you should look out for is the supply charge, which is the price you pay for simply having the property connected to an energy supply.
Therefore, the supply charge, usually a few cents per day, gets multiplied by the number of days in the billing cycle. Therefore, the supply charge will only represent a fraction of your monthly bill. This is why we suggest keeping a low supply charge a second priority when looking for cheap electricity.
Lastly, the reference price is set by the government and can be used as a quick and easy way to know how much cheaper a plan is overall. It's useful to look at because it's a relative summary of the usage rates and the supply charges you can look at without having to do any math.
Other things to consider when looking for cheap electricity are:
- The type of tariff (variable or fixed)
- Keep in mind how long you plan on staying in the contract.
- Look for a contract with little to no exit fees.
- Paying with direct debit is often cheaper.
- Search for extra energy rebates & discounts to help you save more.
- Check how long the discount will last versus the contract length and exit fees.
- Ask around for deals for new customers or dual fuel discounts.
Contract, Exit Fees & Type of Tariff
You will also want to consider how long the contract is for.
This is important as sometimes you may be locked into a contract and be charged a fee if you leave early. Generally, as a rule of thumb, it will be cheaper for you to have a contract with exit fees than to have a contract without exit fees. However, some newer companies do not charge exit fees.
Check and see if the energy tariff is variable or fixed.
With a variable tariff, the usage rates can fluctuate based on changes in the price of energy on the wholesale market. Therefore, you could start out with cheap electricity only to have your electricity rates go up in a few months. This could leave you spending more than if you have been on a fixed tariff, also known as a flat-rate tariff.
A fixed tariff means that the energy company guarantees your electricity rates will stay the same for the duration of the contract. Having a fixed tariff can insulate you from price jumps.
Selectra recommends looking for a fixed rate tariff as they are generally cheaper and can protect you from volatile price rises. Generally paying with direct debit is also cheaper, and an easy way to get a discount on already-cheap electricity.
Lastly, take a look around for discounts and energy rebates. You may be entitled to solar rebates, senior discounts, low-income support, or Centrelink energy assistance payments.
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Selectra's Energy Experts are Available to Help You Free of Charge
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Are Energy Prices Rising?
Energy prices are rising in Australia due to a few different factors:
- Lack of investment in energy infrastructure
- Volatile prices in the gas market
- Supply and demand
Energy producers and distributors have slowed investments in energy infrastructure across Australia in recent years and claim that it is due to conflicting policies in renewable energy plans.
Unclear objectives, plans and regulations regarding energy suppliers and the future green energy transition targets means that many energy companies are hesitant to invest in infrastructure that could potentially be useless as a result of new green energy transition regulation.
On a similar note, the fossil fuel industry is also experiencing volatility in wholesale market prices due to factors such as supply and demand, the war in Ukraine and the blockade of Russian gas, the COVID-19 pandemic and conflicting policy on renewable energy plans as mentioned before.
However, one of the upsides of living in Australia is that most of the country benefits from a deregulated energy market which it easier for customers to find deals on energy as companies try to undercut their competitors on price.
Why Should I Switch Electricity Provider?
If you haven't already been convinced by the information we have shared about finding cheap electricity, perhaps you should reconsider, as you may be on an expensive energy plan.
Looking to compare gas providers? Compare the best gas providers and gas plans in Australia
Most energy plans are on what is called a benefit period, which refers to the amount of time you'll receive discounts or incentives on your energy bill. The benefit period usually lasts a year, though some providers have benefit periods of up to three years, and once it expires you'll often be put on the Default Market Offer, which usually means more expensive electricity rates.
By comparing energy plans regularly, and switching to a cheaper energy provider, some customers have saved hundreds of dollars per year on their electricity and gas bills.
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