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Cheapest Electricity NSW: 2022 Cheap Energy Providers

Cheapest electricity NSW

Looking for the cheapest electricity in NSW? We've got you covered. In this guide we'll look at a list of the cheapest electricity plans in NSW to help you find the cheapest energy provider possible for your next energy contract. Read on to see the full list of cheap energy providers.


Cheapest Electricity NSW

There are numerous energy providers and electricity plans in New South Wales, each with different incentives, energy discounts, and electricity rates.

However, If you’re interested in finding the cheapest electricity in NSW, look no further.

Here is a list of the cheapest electricity plans in NSW:

Cheapest Electricity Plans in New South Wales, July 2022
Electricity Provider Plan Name Discount off Reference Price Estimated Bill
(including discounts)
ArcEnergy Ausgrid Residential Anytime -24% off $1,150 / year
Red Energy Red BCNA Saver -23% off $1,170 / year
Sumo Sumo Assure -15% off $1,290 / year
Energy Locals Online Member EL -14% off $1,300 / year
Dodo Market Offer -13% off $1,310 / year
Origin Energy Go Variable -9% off $1,380 / year
Future X Power Standing Offer -8% off $1,390 / year
EnergyAustralia Flexi Plan -7% off $1,410 / year
Powershop 100% Carbon Neutral -7% off $1,410 / year
Diamond Energy Everyday Renewable Saver -2% off $1,480 / year
1st Energy Standing Offer Same as reference price $1,510 / year
AGL Residential Basics Same as reference price $1,510 / year
Alinta Energy Standing offer Same as reference price $1,510 / year
CovaU Market Offer Same as reference price $1,510 / year
GloBird Energy Default Market Offer Same as reference price $1,510 / year
Glow Power Glow Power Saver Same as reference price $1,510 / year
Momentum Energy Standing Offer Same as reference price $1,510 / year
OVO Energy Basic Standing Offer Same as reference price $1,510 / year
Power Direct Standing Offer Same as reference price $1,510 / year
ReAmped Energy Standard Anytime Same as reference price $1,510 / year
Tango Energy Standing Offer Same as reference price $1,510 / 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 July 2022.

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Which electricity provider is cheapest in NSW?The cheapest electricity plan in NSW is the One Plan from OVO Energy which costs an estimated $989 per year based on the average usage for customers in Sydney. (postcode 2000)

Default Market Offer & the Reference Price NSW

Why do we talk about the reference price when talking about cheap electricity? The reference price is the key to finding the cheapest electricity plan.

The reference price, or the Default Market Offer or DMO, is the government-set electricity price used within the National Electricity Market to help consumers compare energy plans in NSW and other states to find the cheapest electricity prices.

When presented with an energy plan, it will always include how it compares to the reference price. If you look in the table above, you can see the discount off the reference price in the 3rd column. The bigger the discount, the cheaper the electricity plan.

The Default Market Offer in New South Wales is divided into 3 distribution zones, as shown below:

Residential Default Market Offer NSW
Distribution Network Annual estimated usage DMO on a Flat-Rate tariff
Ausgrid 3,900kWh / year $1,512 / year
Endeavour 4,900kWh / year $1,836 / year
Essential 4,600kWh / year $2,092 / year

*Source: AER - Default Market Offer - Price determination 2021-22 Final Determination. Valid for 2022.

It’s important to understand the Default Market Offer is only a cap on electricity prices for those who don’t wish to engage with the market.

Energy providers can set their plans to be more expensive than the DMO if they wish, but this isn’t common and these plans often come with additional incentives that don’t include a discount such as a higher solar Feed-in-Tariff.

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    Compare Cheapest Electricity Providers in New South Wales

    Now that you’ve seen the cheapest electricity plans in NSW, and understand what to look for when comparing cheap electricity plans, let's talk about some of the providers that offer the cheapest electricity in NSW.

    OVO Energy NSW

    OVO Energy is a well-known UK energy provider that has recently expanded into Australia. They offer only one electricity plan that's very cheap in New South Wales. The OVO Energy "The One Plan" comes with a discount of up to 24% off the reference price, depending on where you live in NSW. In addition, OVO Energy offers 10% GreenPower automatically, but for an additional cost can be bumped up to 100% GreenPower.

    OVO Energy's Cheapest Electricity Plan NSW
    Plan Name OVO Energy The One Plan rates
    Discount off the reference price up to 23% discount
    Daily supply charge 67.65 c/day
    Usage rates 21.34 c / kWh
    Estimated annual cost
    (including discounts)
    $989 / year

    Source: OVO Energy. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid April 2022.

    Mojo Power NSW

    Mojo Power consistently ranks among the cheapest electricity in NSW. Their All Day Breakfast plan comes with a whopping 27% discount off the reference price and includes a free smart meter.

    This allows you to monitor your energy usage with the Mojo Power app. If you don’t want a smart meter, you can still sign up for Mojo Power’s Single-Minded plan, while waiting for your new smart meter to be installed.

    Mojo Power's Cheapest Electricity Plan NSW
    Plan Name All Day Breakfast
    Discount off the reference price 31% discount
    Daily supply charge 73.55 c/day
    Usage rates 19.06 c/kWh
    Estimated annual cost
    (including discounts)
    $960 / year

    Source: Mojo Power. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid April 2020.

    ReAmped Energy NSW

    ReAmped Energy offers multiple electricity plans with steep discounts.

    Their cheapest electricity plan in new south wales is the ReAmped Advanced Anytime which offers a 27% discount and a flat rate. However, It requires direct debit bill payments every fortnight.

    If traditional billing and payment is more your style, you can enjoy a 26% discount off the reference price with their one-year ReAmped Handshake plan.

    This plan doesn’t require a lock-in contract, just your word you’ll stay with them for one year. If you don’t want to commit to a year, though, you can still enjoy an 25% discount with ReAmped Classic.

    Cheapest ReAmped Energy electricity plans NSW
    Plan Name ReAmped Advanced Anytime ReAmped Handshake Anytime ReAmped Classic Anytime
    Discount off the reference price 27% discount 26% discount 25% discount
    Daily supply charge 75.90 c/day 68.20 c/day 63.80 c/day
    Usage rates 20.02 c/kWh 21.34 c/kWh 21.89 c/kWh
    Estimated annual cost
    (including discounts)
    $1,010 / year $1,030 / year $1,040 / year

    Source: ReAmped Energy. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid August 2020.

    If you find yourself in a dispute with your energy provider, you can always find help through the ombudsman.

    Nectr NSW

    Looking for the cheapest Green Energy in NSW? Nectr ranks among the top.

    Nectr Energy offers the personalized customer service of a small, local, energy provider, while being backed by global solar giant Hanwha Group. With The Nectr 100% Clean plan, you can enjoy a 27% discount off the reference price, thanks to a $100 credit on your energy bill for new customers.

    Nectr GreenPower plan is also a great option that gives you a 6% discount off the reference price, which includes the $100 credit and 100% GreenPower. This way you know your energy consumption is offset with carbon-neutral credits.

    Nectr Energy's Cheapest Electricity Plans NSW
    Plan Name Nectr 100% Clean Nectr GreenPower
    Discount off the reference price 27% discount 6% discount
    Daily supply charge 82.50 c/day 99.99 c/day
    Usage rates 19.58 c/kWh 25.30 c/kWh
    Estimated annual cost
    (including discounts)
    $1,020 / year $1,300 / year

    Source: Nectr. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid August 2020.

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    Powerclub NSW

    Powerclub offers wholesale electricity to residents of New South Wales, allowing customers to access wholesale electricity rates for a small, monthly, membership fee.

    With discounts of up to 19% off the reference price, a smart meter, and the Powerclub Powerwatch app that lets you know when wholesale prices are high so you can reduce your energy usage and save even more, you’ll be able to reduce your electricity costs and take control of your energy bills.

    Powerclub's Cheapest Electricity Plans NSW
    Plan name Powerbank Home Flat rates
    Discount off the reference price 19% discount
    Daily supply charge 78.29 c/day
    Usage rates 20.43 c/kWh
    Estimated annual cost
    (including discounts)
    $1,130 / year

    Source: Powerclub. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid August 2020.

    Average Electricity Prices NSW

    New South Wales has some of the lowest average energy prices in Australia. The average annual electricity bill in NSW is $1,254 in 2022.

    However, there are so many providers that offer cheaper electricity plans, so shopping around and comparing electricity prices in NSW can make sure you’re below average, and paying as little as possible on your energy bills.

    Average Electricity Costs & Usage in New South Wales
    Average cost per kWh in NSW Average annual electricity usage in NSW Average annual electricity bill in NSW 2022
    25.463 / kWh 5141kWh / year $1,253 / year

    *Average cost per kWh based on average usage rates between leading electricity providers. Average annual usage source: EnergyMadeEasy for postcode 2000. Average annual electricity bill source: AEMC Annual Electricity Price Trend Report 2021-2022.

    There are also some other incentives and rebates available for NSW residents you may be interested in:

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