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Cheapest Electricity Plans | Prices List by State (2022)

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, which means comparing energy plans and switching to a better deal can save you big money on your energy bills. In this guide, we compared electricity providers in each state to help you find the cheapest electricity plans in your area.


IMPORTANT NOTICE!

Since June, Australia has begun to experience an energy crisis with bills climbing higher than normal for most households. In this article, you will find all updated prices for the cheapest electricity plans for June 2022.

In July, all energy suppliers will re-evaluate their DMO, or default market offer. Plans are expected to climb even higher after July 1st.

Therefore, it could help you save on energy bills to register before July 1st and take advantage of the lower default market offer being sold this month of June.

Speak to an energy expert now:

1300 560 964

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.

Therefore, we compared energy providers from each state against the reference price to find the cheapest electricity plans offered throughout Australia.

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.

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

Cheap Electricity Plans NSW

Since the energy market was deregulated in 2014 in NSW, energy providers in New South Wales 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 $1,512 / year with an average usage of 3900kWh / year.

Cheapest Electricity Plans in New South Wales
Electricity Provider Plan Name Discount off Reference Price Estimated Bill
(including discounts)
Alinta Energy Home Deal -25% off $1,040 / year
EnergyAustralia Flexi Plan -25% off $1,040 / year
Energy Locals Online Member 2022 -23% off $1,070 / year
Origin Energy Go Variable -22% off $1,080 / year
Momentum Energy Suit Yourself Electricity -19% off $1,130 / year
Powerclub Powerbank Home Flat -19% off $1,130 / year
Dodo Market Offer -18% off $1,140 / year
ArcEnergy Ausgrid Residential Anytime -17% off $1,150 / year
Red Energy Red BCNA Saver -17% off $1,160 / year
Powershop 100% Carbon Neutral -16% off $1,170 / year
Diamond Energy Everyday Renewable Saver -15% off $1,180 / year
AGL Flexible Saver -10% off $1,250 / year
Sumo Sumo Assure -7% off $1,290 / year
Elysian Energy Standing Resi Intro Demand Plan -7% off $1,300 / year
Circular Energy Community Energy Anytine -4% off $1,340 / year
Enova Energy Community Plus -3% off $1,350 / year
CovaU Market Offer -2% off $1,360 / year
OVO Energy Basic Standing Offer -2% off $1,370 / year
ReAmped Energy Standard Anytime -1% off $1,380 / year
GloBird Energy Default Market Offer Same as Reference Price $1,390 / year
Mojo Power Energy Without Benefits Same as Reference Price $1,390 / year
Simply Energy Simply Standing Offer Same as Reference Price $1,390 / year
Discover Energy Standing Offer Same as Reference Price $1,390 / year
1st Energy Standing Offer Same as Reference Price $1,390 / year
Future X Power Standing Offer Same as Reference Price $1,390 / year
Kogan Energy Kogan Energy Basic Same as Reference Price $1,390 / year
People Energy Standing Retail Contract Same as Reference Price $1,390 / year
Power Direct Standing Offer Same as Reference Price $1,390 / year
Tango Energy Standing Offer Same as Reference Price $1390 / year

*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 an average use of 3900kWh. 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. Offers and availability are subject to change. Read more about Basic Plan Information here. Valid June 2022.

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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, and the family energy rebate.

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 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 estimated annual cost for the average energy usage for that postcode.

The reference price used is $1,293 with an average annual usage of 4,000kwh of electricity.

Compare Electricity Providers Victoria
Electricity Provider Plan Name Discount off Reference Price Estimated Bill
(including discounts)
Alinta Energy HomeDeal - Single Rate -22% off $1,020 / year
Lumo Energy Lumo Value -21% off $1,030 / year
Sumo Sumo Assure -19% off $1,060 / year
Momentum Energy Thrifty Business -17% off $1,080 / year
Tango Energy Home Select -16% off $1,100 / year
Powershop 100% Carbon Neutral -16% off $1,100 / year
EnergyAustralia Total Plan Home -16% off $1,100 / year
Circular Energy Zero Member Fee Anytime -14% off $1,120 / year
Kogan Energy Kogan Energy With Free Kogan First -14% off $1,130 / year
Origin Energy Origin Flexi Rate ePlus -14% off $1,130 / year
AGL Residential Value Saver -14% off $1,130 / year
Arcline Energy Energy Plan Plus Voucher -12% off $1,150 / year
Dodo Market Offer -10% off $1,170 / year
Powerclub Powerbank Home Flat -10% off $1,180 / year
Energy Locals Local Member 2022 Anytime -6% off $1,230 / year
Diamond Energy Everyday Renewable Saver -5% off $1,240 / year
Next Energy Next Assured Residential -4% off $1,250 / year
1st Energy 1st Saver -2% off $1,280 / year
Red Energy Red EV Saver -1% off $1,290 / year

*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 Victoria (3000). Calculations are based on average usage of 4000kWh per year and the reference price for each area. Any offers or estimated costs compared are for example purposes only and may change based on your individual circumstances or habits. Offers and availability are subject to change. Read more about Basic Plan Information here. Valid June 2022.

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Cheap 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 $1,620 / year for an average usage of 4600kWh / 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.

Cheapest Electricity Plans in Queensland
Electricity Provider Plan Name Discount off Reference Price Estimated Bill
(including discounts)
Origin Energy Origin Go Variable -19% off $1,180 / year
Alinta Energy HomeDeal -18% off $1,190 / year
Energy Locals Online Member -18% off $1,190 / year
EnergyAustralia Flexi Plan -15% off $1,230 / year
Diamond Energy Everyday Renewable Saver -15% off $1,230 / year
Powerclub Powerbank Home Flat -14% off $1,250 / year
Red Energy Red BCNa Saver -11% off $1,300 / year
AGL Residential Flexible Saver -9% off $1,320 / year
CovaU Default Market Offer -4% off $1,400 / year
OVO Energy Basic Standing Offer -2% off $1,420 / year
Enova Energy Enova Community Plus -2% off $1,420 / year
Dodo Residential Standing Market Offer -1% off $1,440 / year
Powershop 100% Carbon Neutral -1% off $1,440 / year
ReAmped Energy ReAmped Standard Anytime Same as Reference Price $1,450 / year
Future X Power Standing Offer Same as Reference Price $1,450 / year
1st Energy Standing Offer Same as Reference Price $1,450 / year
Circular Energy Community Energy Anytiime Same as Reference Price $1,450 / year
Discover Energy Standing Offer Same as Reference Price $1,450 / year
GloBird Energy Default Market Offer Same as Reference Price $1,450 / year
Kogan Energy Kogan Energy Basic Same as Reference Price $1,450 / year

*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 4600kWh/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. Offers and availability are subject to change. Read more about Basic Plan Information here. Valid June 2022.

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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 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 $1,840 / year with an average usage of 4000kWh / year.

Cheapest Electricity Plans in South Australia
Electricity Provider Plan Name Discount off Reference Price Estimated Bill
(including discounts)
Energy Locals Online Member 2022 -21% off $1,360 / year
Powerclub Powerbank Home Flat -20% off $1,370 / year
Diamond Energy Everyday Renewable Saver -16% off $1,450 / year
Origin Energy Origin Go Variable -15% off $1,460 / year
Powershop Powershop 100% Carbon Neutral -15% off $1,460 / year
Sumo Assure Advantage -14% off $1,470 / year
Alinta Energy HomeDeal -14% off $1,480 / year
EnergyAustralia Flexi Plan -9% off $1,560 / year
Lumo Energy Lumo Plus -9% off $1,570 / year
CovaU Default Market Offer -8% off $1,580 / year
Circular Energy Friends of Oxamii Anytime -6% off $1,610 / year
Discover Energy SA POWER -6% off $1,620 / year
OVO Energy Basic Standing Offer -4% off $1,650 / year
Tango Energy Home Select -4% off $1,650 / year
AGL Flexible Saver -3% off $1,660 / year
Dodo Market Offer -1% off $1,700 / year
Red Energy Red BCNA Saver -1% off $1,700 / year
Kogan Energy Kogan Energy Basic -1% off $1,700 / year
ReAmped Energy ReAmped Standard Same as Reference Price $1,710 / year
Future X Power Market Offer Same as Reference Price $1,710 / year
GloBird Energy Default Market Offer Same as Reference Price $1,710 / year
Zen Energy Friends & Family Standing Offer Same as Reference Price $1,710 / year

*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 an average use of 4000kWh. 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. Offers and availability are subject to change. Read more about Basic Plan Information here. Valid June 2022.

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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,

Cheap 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 $2092 / year with an average usage of 4600kWh / year.

Cheapest Electricity Plans in the ACT
Electricity Provider Plan Name Discount off Reference Price Estimated Bill
(including discounts)
Origin Energy Origin Go Variable -33% off $1,410 / year
Red Energy Red BCNA Saver -24% off $1,590 / year
ActewAGL Good to Go -20% off $1,670 / year
Energy Locals Online Member 2022 -17% off $1,730 / year
Powerclub Powerbank Home Flat + solar -15% off $1,780 / year
EnergyAustralia Flexi Plan -14% off $1,790 / year
Discover Energy Evoenergy Residential -7% off $1,940 / year
ReAmped Energy ReAmped Standard Same as Reference Price $2,080 / year

*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 an average use of 6100kWh. 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. Offers and availability are subject to change. Read more about Basic Plan Information here. Valid June 2022.

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Need Help Switching Electricity or Gas Provider?

Selectra can help! Speak to an agent or get an online below!

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 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 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.

Click below to find a better deal for your home!

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