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Cheapest Electricity NSW

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.

Default Market Offer NSW*
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 electricity costs and usage in New South Wales*
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.

Compare electricity prices NSW
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.

Mojo Power electricity plans NSW
  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 Energy electricity plans NSW
  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 electricity plans NSW
  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 electricity plan NSW
  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.

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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 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.

Powerclub electricity plans NSW
  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.

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