Cheapest Electricity NSW
If you’ve been on the same energy plan for a while, or never switched energy providers, you’re probably paying too much for your electricity. In New South Wales, energy prices are on the rise and more and more consumers are switching to cheaper electricity plans to lower their energy bills. Read more below, so you can find the cheapest electricity in NSW, and make the switch with Selectra so you can start saving today.
Default Market Offer & the reference price NSW
When finding the cheapest electricity plan in NSW, the most important factor is the reference price. The reference price, also known as 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 find the cheapest electricity prices.
The DMO has two main functions, to protect those who do not wish to engage with the energy market and to educate those who do. The Default Market Offer in NSW is divided into the state’s distribution zones, as shown below.
| Distribution Network | Annual estimated usage | DMO on a Flat-Rate tariff |
|---|---|---|
| Ausgrid | 3,900kWh / year | $1,462 / year |
| Endeavour | 4,900kWh / year | $1,711 / year |
| Essential | 4,600kWh / year | $1,960 / year |
*Source: AER - Default Market Offer - Price determination 2020-21 Final Determination
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 at a price greater 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.
Average electricity prices NSW
New South Wales has some of the lowest average energy prices in Australia, with an average annual electricity bill in NSW being $1,294 during the 2018/2019 year. 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 cost per kWh in NSW | Average annual electricity usage in NSW | Average annual electricity bill in NSW (2018/2019) |
|---|---|---|
| 25.463 / kWh | 5141kWh / year | $1,294 / 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 2019.
Cheapest electricity NSW
Contrary to popular belief, not all energy providers in New South Wales are the same. There are numerous energy providers and electricity plans in New South Wales, each with different incentives, discounts, and electricity rates. If you’re interested in comparing the cheapest electricity in NSW, you can find detailed information about the cheapest electricity plans and providers below.
| Energy Provider | Plan Name | % off the reference price | Estimated annual electricity costs |
|---|---|---|---|
| Mojo Power | All Day Breakfast | 27.28% discount | $1,063 / year |
| Nectr | Nectr Friends Clean | 20% discount + $100 credit | $1,067 / year |
| ReAmped Energy | ReAmped Advanced | 27% discount | $1,074 / year |
| Tango Energy | Home Select | 26% discount | $1,084 / year |
| OVO Energy | The One Plan | 24% discount | $1,114 / year |
| Powerclub | Powerbank Home Flat | 24% discount | $1,115 / year |
| Click Energy | Flora Plus | 23% discount | $1,126 / year |
| Sumo | SumoAssure | 22% discount | $1,138 / year |
| Simply Energy | Simply Energy Saver | 20% discount | $1,166 / year |
| Powershop | Powershop Shopper MegaPack | 20% discount | $1,176 / year |
| Dodo | Market Offer | 17.41% discount | $1,206 / year |
| Momentum Energy | Everyday Energy SmilePower Flexi |
17% discount | $1,211 / year |
| AGL | Essentials | 17% discount | $1,214 / year |
| EnergyAustralia | Total Plan | 17% discount | $1,213 / year |
| Origin Energy | Max Saver Online Only | 17% discount | $1,214 / year |
| Energy Locals | Online Saver | 10% discount + 6% conditional discount | $1,230 / year |
| Alinta Energy | HomeDeal Energy | 16% discount | $1,232 / year |
| Elysian Energy | Simple Plan | 12.4% discount + 3.5% conditional discount | $1,235 / year |
| 1st Energy | 1st Saver | 13% discount | $1,267 / year |
| Amaysim Energy | Classic Electricity | 13% discount | $1,286 / year |
| Enova Energy | Community Plus | 8% discount + 3% conditional discount | $1,308 / year |
| Red Energy | Living Energy Saver | 9% discount | $1,320 / year |
| Diamond Energy | Everyday Renewable Saver | 7% conditional discounts | $1,355 / year |
| Amber Electric | Market Offer | 14% average discount* | $1,220 / year |
Source: Provider websites. Valid August 2020. Rates valid for Ausgrid distribution zone on a single-rate tariff with average annual usage set at 3900kWh / year. Estimated annual costs include conditional discounts. Actual plans and estimated costs may vary.
*Due to nature of Amber Electric’s wholesale pricing, discounts may vary
Compare cheapest electricity providers in New South Wales
Now that you’ve seen the cheapest electricity plans in NSW, you can find a more detailed breakdown of some of the best options below.
Mojo Power NSW
Mojo Power takes the cake as some of the cheapest electricity in NSW. Their All Day Breakfast plan comes with a whopping 27.28% discount off the reference price and includes a free smart meter, allowing customers to monitor their energy usage with the Mojo Power app. If you don’t yet have a smart meter, however, you can still sign up for Mojo Power’s Single Minded plan, while waiting for your new smart meter to be installed.
| All Day Breakfast | Single Minded | |
|---|---|---|
| Discount off the reference price | 27.78% discount | 4.95% discount |
| Daily supply charge | 79.717c / day | 104.5c / day |
| Usage rates | 19.8c / kWh | 25.85c / kWh |
| Estimated annual cost | $1,063 / year | $1,389 / year |
Source: Mojo Power. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid August 2020.
ReAmped Energy NSW
ReAmped Energy offers multiple electricity plans with steep discounts. Their cheapest plan, ReAmped Advanced, requires direct debit bill payments every fortnight, which helps prevent electricity bill shock. If traditional billing and payment is more your style, however, you can enjoy a 23% 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 18% discount with ReAmped Classic.
| ReAmped Classic | ReAmped Handshake | ReAmped Advanced | |
|---|---|---|---|
| Discount off the reference price | 18% discount | 23% discount | 27% discount |
| Daily supply charge | 73.68c / day | 91.55c / day | 91.55c / day |
| Usage rates | 23.97c / kWh | 20.44c / kWh | 18.96c / kWh |
| Estimated annual cost | $1,204 / year | $1,131 / year | $1,074 / 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.
Nectr NSW
Feel like supporting a new green energy provider in the Australian electricity market? Nectr offers the personalized customer service of a small, local, energy provider, while being backed by global solar giant Hanwha Group. With Nectr Clean Friends, you can enjoy a 20% discount off the reference price, plus $100 credit on your energy bill for new customers while Nectr GreenPower gives you an 8% discount off the reference price, plus that $100 credit with the added benefit of 100% GreenPower so you know your energy consumption is offset with carbon-neutral credits.
| Nectr Friends Clean | Nectr GreenPower | |
|---|---|---|
| Discount off the reference price | 20% discount + $100 credit for new customers | 8% discount + $100 credit for new customers |
| Daily supply charge | 99.99c / day | 99.99c / day |
| Usage rates | 20.57c / kWh | 25.30c / kWh |
| Estimated annual cost | $1,067 / year | $1,252 / year |
Source: Nectr. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid August 2020.
OVO Energy NSW
OVO Energy, a well-known UK energy provider, has recently expanded into Australia, offering one cheap electricity plan in New South Wales. 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 The One Plan rates | |
|---|---|
| Discount off the reference price | up to 24% discount |
| Daily supply charge | 89.1c / day |
| Usage rates | 22.22c / kWh |
| Estimated annual cost | $1,115 / year |
Source: OVO Energy. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid August 2020.
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 24% off the reference price, 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.
| Powerbank Home Flat rates | |
|---|---|
| Discount off the reference price | 24% discount |
| Daily supply charge | 80.44c / day |
| Usage rates | 20.05c / kWhh |
| Estimated annual cost | $1,115 / year |
Source: Powerclub. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Valid August 2020.