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Cheapest Electricity: 2022 Prices by State & How to Compare

Cheapest electricity

Perhaps the single biggest factor when it comes to switching energy providers in Australia is cost. The price of energy is on the rise and by comparing energy plans and switching to a better deal, you can save money on your energy bills. It can be overwhelming to try and compare electricity plans from the 30+ energy providers in Australia, however, but with Selectra you can easily find the best electricity provider in your state and switch today.


Cheapest 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.

In the sections below we cover information about the status of the electricity market in each state and detail the cheapest electricity plans that Selectra has found in each state.

Select your state from the drop-down list below to see electricity rates.

Cheap Electricity Plans NSW

Since the energy market was deregulated in 2014 in NSW, energy providers in New South Wales offer different electricity prices discounts.

This is actually 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.

Compare Electricity Providers New South Wales
Energy provider Plan name % off the reference price Estimated annual cost
Mojo Power All Day Breakfast 31% discount $967 / year
ReAmped Energy ReAmped Advance 29% discount $994 / year
Alinta Energy Home Deal 25% discount $1,044 / year
Energy Locals Online Member 24% discount $1,054 / year
Kogan Energy Market Offer 23% discount $1,075 / year
OVO Energy The One Plan 23% discount $1,079 / year
Nectr Online 22% discount $1,081 / year
Tango Energy Home Select 22% discount $1,084 / year
Elysian Energy Power Maximiser 22% discount $1,089 / year
Simply Energy Simply Blue Perks 20% discount $1,114 / year
Powerclub Powerbank Home Flat 20% discount $1,115 / year
Sumo Sumo Assure 18% discount $1,138 / year
Powershop 100% Carbon Neutral 18% discount $1,140 / year
AGL Super Saver 18% discount $1,15542 / year
Origin Energy Origin Go 18% discount $1,142 / year
GloBird Energy UltraSave 16% discount
+ 1% direct debit discount
$1,162 / year
CovaU Freedom Plus 6% discount $1,164 / year
EnergyAustralia Total Plan 16% discount $1,170 / year
Dodo Market Offer 13% discount $1,206 / year
1st Energy 1st Saver 10% pay-on-time discount $1,224 / year
Enova Energy Community Plus 11% discount
+ 3% pay-on-time discount
$1,237 / year
Red Energy Living Energy Saver 11% discount $1,240 / year
Momentum Energy Self Serve 9% discount $ 1,267 / year
Diamond Energy Everyday Renewable Saver 8% above the reference price
+ 10% pay-on-time discount with direct debit
$1,355 / year
Amber Electric Amber Plan Wholesale rates - discounts vary $1,462 / year

Source: Energy providers basic plan. Rates valid within Ausgrid Distribution Network on a single-rate tariff. Comparison does not include all available offers. Estimated annual cost includes conditional discount and are based on average usage of 3,900kWh/year. Discounts and rates vary depending on location. Valid July 2021.

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, and the family energy rebate.

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Cheap 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 lowest bills in 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 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 estimated annual cost for the average energy usage for that postcode.

Compare Electricity Providers Victoria
Energy provider Plan name % off the reference price Estimated annual cost
Powerclub Powerbank Home Flat 21% discount $1,008 / year
OVO Energy The One Plan 20% discount $1,011 / year
Alinta Energy Home Deal 20% discount $1,013 / year
Elysian Energy Power Maximiser 17% discount $1,059 / year
Kogan Energy Market Offer 16% discount $1,069 / year
ReAmped Energy Handshake 16% discount $1,071 / year
Energy Locals Online Member 16% discount $1,072 / year
Momentum Energy Self Serve - Online only 14% discount $1,095 / year
Tango Energy Home Select 14% discount $1,089 / year
Simply Energy Simply Blue 14% discount $1,092 / year
Lumo Energy Value 13% discount $1,094 / year
AGL Super Saver 13% discount $1,105 / year
EnergyAustralia Total Plan 13% discount $1,105 / year
Diamond Energy Eeryday Renewable Saver 2% discount
+ 10% conditional discounts
$1,117 / year
Dodo Market Offer 12% discount $1,117 / year
Origin Energy Origin Go 12% discount $1,120 / year
1st Energy 1st Saver Plus 6% discount $1,185 / year
Powershop 100% Carbon Neutral 8% discount $1,168 / year
Sumo Sumo Assure 7% discount $1,175 / year
CovaU Super Saver Plus 6% discount $1,188 / year
GloBird Energy SureSave 1% direct debit discount $1,257 / year
Red Energy Living Energy Saver 1% discount $1,257 / year
Amber Electric Amber Plan Wholesale rates - discounts vary $1,270 / year

Source: Energy providers basic plan. Rates valid within Citipower distribution network on a single-rate tariff. Comparison does not include all available offers. Estimated annual cost includes conditional discount and are based on average usage of 4,000kWh/year. Discounts and rates vary depending on location. Valid July 2021.

Cheap Electricity Plans QLD

While those living in regional or rural Queensland don’t have the ability to choose their energy provider, with their electricity both retailed and supplied by Ergon Energy, those who live in South-East Queensland enjoy full retail contestability. This means you are free to compare electricity providers and switch whenever you like.

If you live in South-East Queensland, you can choose your energy provider, allowing you to find the cheapest electricity rates in Queensland so you can make sure you’re saving as much as you can on your energy bill. Here you can find the cheapest electricity providers and plans in South-East Queensland.

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.

Compare Electricity Providers Queensland
Energy provider Plan name % off the reference price Estimated annual cost
ReAmped Energy ReAmped Advance 26% discount $1,080 / year
Mojo Power All Day Breakfast 26% discount $1,083 / year
Elysian Energy Power Maximiser 18% discount $1,189 / year
AGL Super Saver 8% discount $1,193 / year
Nectr Online 18% discount $1,196 / year
Dodo Market Offer 17% discount $1,200 / year
Sumo Sumo Assure Advantage 17% discount $1,201 / year
OVO Energy The One Plan 17% discount $1,205 / year
Powerclub Powerbank Home FlatSimply NRMA 17% discount $1,205 / year
Simply Energy Simply Blue Perks 16% discount $1,222 / year
Enova Energy The One Plan 16% discount
+ 3% pay-on-time discount
$1,235 / year
GloBird Energy UltraSave 8% discount
+ 7% conditional discounts
$1,239 / year
Alinta Energy HomeDeal Energy 14% discount $1,244 / year
AGL Essential 17% discount $1,251 / year
EnergyAustralia Total Plan 14% discount $1,251 / year
Origin Energy Origin Go 14% discount $1,251 / year
CovaU Freedom Plus 14% discount $1,252 / year
Kogan Energy Market Offer 14% discount $ 1,257 / year
Powershop 100% Carbon Neutral 12% discount $1,282 / year
Red Energy Living Energy Saver 10% discount $1,302 / year
Momentum Energy Self Serve 10% discount $1,309 / year
1st Energy Living Energy Saver 7% pay-on-time discount $1,342 / year
Energy Locals Online Member 6% discount $1,361 / year
Diamond Energy Everyday Renewable Saver 6% above the reference price
+ 10% conditional discounts
$1,389 / year
Amber Electric Amber Plan Wholesale rates - Discounts vary $1,508 / year

Source: Energy providers basic plan. Rates valid within Energex distribution network on a single-rate tariff. Comparison does not include all available offers. Estimated annual cost include conditional discount and are based on average usage of 4,600kWh/year. Discounts and rates vary depending on location. Valid July 2021.

We also recommend seeing if you qualify for the Queensland government energy rebate or a solar energy rebate in Queensland.

Cheap Electricity Plans SA

South Australia has some of the highest electricity costs in the country, which makes finding the cheapest electricity plans all the more important.

Here, you can find some of the cheapest electricity plans available, helping you save money on your energy bills. 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.

Compare Electricity Providers South Australia
Energy provider Plan name % off the reference price Estimated annual cost
Elysian Energy Power Maximiser 31% discount $1,180 / year
ReAmped Energy ReAmped Advance 19% discount $1,384 / year
OVO Energy The One Plan 18% discount $1,409 / year
Energy Locals Online Member 13% discount $1,488 / year
Powerclub Powerbank Home Flat 18% discount $1,414 / year
Kogan Energy Market Offer 17% discount $1,432 / year
Powershop 100% Carbon Neutral 15% discount $1,459 / year
Alinta Energy HomeDeal Energy 14% discount $1,476 / year
Origin Energy Origin Go 14% discount $1,476 / year
Nectr Online 14% discount $1,482 / year
Simply Energy Simply RAA Members 12% discount $1,510 / year
1st Energy First Saver 10% pay-on-time discount $1,510 / year
AGL Super Saver 6% discount $1,610 / year
EnergyAustralia Total Plan 6% discount $1,613 / year
GloBird Energy UltraSave 4% conditional discounts $1,644 / year
Momentum Energy Self Serve 3% discount $1,664 / year
Dodo Market Offer 3% discount $1,670 / year
Lumo Energy Lumo Plus 1% discount $1,683 / year
Red Energy Living Energy Save 1% discount $1,698 / year
Diamond Energy Everyday Renewable Saver 11% above the reference price
+ 10% conditional discounts
$1,698 / year
Mojo Power Standing Offer Equal to reference price $1,716 / year
Amber Electric Amber Plan Wholesale rates - Discounts vary $1,716 / year

Source: Energy providers basic plan. Rates valid within SA Power Networks on a single-rate tariff. Comparison does not include all available offers. Estimated annual cost includes conditional discount and are based on average usage of 4,000kWh/year. Discounts and rates vary depending on location. Valid July 2021.

Keep in mind, some household could reduce their energy bills with a concessions energy discount or a solar rebate from the South Australian government,

Cheap Electricity Plans Canberra, ACT

The government still regulates the energy market in the ACT which means that all energy providers will have the same prices.

However, there are a few residential electricity providers who have special electricity rates and offers in and around Canberra. This means that you could save money by switching to a cheaper electricity plan, so it's a good idea to compare electricity providers.

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, as well as the estimated annual cost based on an average usage of 6,533kWh per year.

Compare Electricity Providers Canberra, ACT
Provider Energy plan name Estimated annual cost
ActewAGL Simple Saver plan $1,920 / year
Amber Electric Amber Plan $2,170 / year
Elysian Energy Power Maximiser $1,440 / year
EnergyAustralia Total Plan $1,905 / year
Energy Locals Online Member $1,685 / year
Origin Energy Origin Go $1,540 / year
Powerclub Powerbank Home Flat $1,880 / year
Radian Energy Grid to Go $1,530 / year
ReAmped Energy ReAmped Advance 1,480 / year
Red Energy Living Energy Saver $1,730 / year
Social Energy Basic Plan $1,670 / year

Rates valid for postcode 2600 within EvoEnergy distribution network on a single-rate tariff. Comparison does not include all available offers. Estimated annual cost based on average usage of 6,533kWh/year. Actual plans and rates vary depending on location. Valid July 2021.

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How to Find the Cheapest Electricity

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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Are Energy Prices Rising?

Energy prices are rising in Australia thanks to a few different factors:

  • Lack of investment in energy infrastructure
  • Volatile prices in the gas market

Energy producers and distributors have slowed investments in energy infrastructure across Australia in recent years and claim that it is due to conflicting policy 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 COVID-19 pandemic and conflicting policy on renewable energy plans as mentioned before.

Despite these two factors affecting energy prices, most of Australia benefits from a deregulated energy market meaning that competition between energy suppliers abounds making it easier for customers to find deals on energy as energy companies try to undercut their competitors on price.

There are several things you will need to know before being able to compare electricity plans and find the cheapest electricity for you. Below we explain how to find cheap electricity and gas in Australia.

Why Should I Switch Energy 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 cheapest gas providers 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.

Call us to find a better deal for your home!

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