Cheapest Electricity VIC | Compare Energy Providers Victoria

Updated on
min reading
Compare Energy Victoria

Looking for the cheapest electricity in Victoria? Trying to find out if you are getting a good deal? Welcome to our Victorian energy compare guide, where we walk you through all the best energy providers in VIC. If you’re interested in switching to a different energy provider in Victoria, you can find a detailed comparison of different rates, plans, and providers by reading more below.

Cheapest Electricity Plans in VIC

Victoria is one of the biggest & most diverse estates when it comes to energy providers, which is why it can be a bit overwhelming to delve into it. Choosing the best energy provider in Victoria ultimately comes down to your preferences and your energy-usage habits.

While it may be tempting to just go with the cheapest gas or electricity plan, there are many other things you should consider. Sometimes energy plans include attractive bonuses & rebates that can help you save money outside your electricity bill.

It can also be the case that some other providers don’t offer the cheapest deals but have excellent customer service and are 100% based in Australia, which may make it easier to contact them.

We have done the research for you by comparing all energy providers to find the cheapest electricity plans and providers in Victoria, based on the estimated annual cost.

Here is a List of the Cheapest Energy Plans in Victoria:

Selectra's Recommendation: Best Electricity Plans in Victoria, 2024

Energy Provider + Plan

Estimated Price

Discount off Reference Price

Additional Information

Sumo
SUMO Switch
 

$950 / year47% OFFBenefits:
No Lock-In Contract
   
Daily Supply Charge:
66.00c/day

Other Cheapest Electricity Plans in Victoria, May 2024

Other Cheapest Electricity Plans in VIC

Energy Provider + Plan

Estimated Price

Discount off Reference Price

Additional Information

GloBird Energy BOOST Residential$900 / year-50%Benefits:
No Lock-In Contract
   
Daily Supply Charge:
97.90c/day
CovaU Super Saver Residential$910 / year-49%Benefits:
Solar Feed-In, GreenPower & Smart Meter Compatible
   
Daily Supply Charge:
91.05c/day
Ovo Energy The Free 3 Plan$930 / year-48%Benefits:
Ongoing Contract & Interest Rewards
   
Daily Supply Charge:
104.39c/day
Nectr 100% Clean$970 / year-46%Benefits:
Carbon Neutral & 1 Year Benefit Contract
   
Daily Supply Charge:
90.93c/day
Tango Energy eSelect$980 / year-45%Benefits:
No Lock-In Contract
   
Daily Supply Charge:
108.90c/day
Energy Locals Online Member$990 / year45% OFFBenefits:
Solar Feed-In, GreenPower & Smart Meter Compatible
   
Daily Supply Charge:
58.00c/day
Alinta Energy HomeDeal$1,010 / year-44%Benefits:
No Lock-In Contract
   
Daily Supply Charge:
115.25c/day
Origin Go Variable$1,010 / year-44%Benefits:
No Lock-In Contract
   
Daily Supply Charge:
89.89c/day
Lumo Energy Basic$1,020 / year-43%

Benefits:
No Lock-In Contract
 
Daily Supply Charge:
91.03c/day

EnergyAustralia Flexi Plan$1,020 / year-43%Benefits:
Carbon Neutral, 1 Year Benefit Plan & $50 Onlne Sign Up Credit
   
Daily Supply Charge:
115.25c/day
AGL Residential Value Saver$1,020 / year-43%Benefits:
Solar Feed-In, Variable Rate Plan & GreenPower
   
Daily Supply Charge:
91.05c/day
Red Energy Living Energy Saver$1,030 / year-43%Benefits:
Solar Feed-In, No Lock-In Contract & GreenPower
   
Daily Supply Charge:
97.79c/day
Amber Electric Variable Wholesale Prices$1,050 / year-41% offBenefits:
No Lock-In Contract
 
Daily Supply Charge:
47.56c/day
Pacific Blue - Blue Home$1,060 / year-41%Benefits:
Solar Feed-In & Smart Meter Compatible
 
Daily Supply Charge:
112.20c/day
Arcline Energy by RACV$1,070 / year-40%Benefits:
Solar Feed-In & $50 Referral Credit
   
Daily Supply Charge:
71.00c/day
1st Energy 1st Saver Residential Anytime$1,080 / year-40%Benefits:
Solar Feed-In & No Lock-In Contract
   
Daily Supply Charge:
114.40c/day
Momentum Energy Nothing Fancy Electricity C1R$1,090 / year-39%Benefits:
No Lock-In Contract
   
Daily Supply Charge:
103.73c/day
Kogan Energy with Free First$1,110 / year-38%Benefits:
Solar Feed-In, No Lock-In Contract & Smart Meter Compatible
   
Daily Supply Charge:
99.10c/day
Powershop Switch Saver$1,110 / year-38%Benefits:
Ongoing Contract
   
Daily Supply Charge:
99.10c/day
Dodo Residential Market$1,120 / year-38%Benefits:
No Lock-In Contract
   
Daily Supply Charge:
80.67c/day
Simply Energy Blue Perks$1,130 / year-37%Benefits:
Ongoing Energy Contract
   
Daily Supply Charge:
115.25c/day
The People's Grid Zero Member Fee Anytime$1,220 / year-32%Benefits:
Solar Feed-In, No Lock-In Contract & GreenPower
   
Daily Supply Charge:
110.00c/day
Diamond Energy Everyday Renewable Saver$1,240 / year-31%Benefits:
Solar Feed-In, No Lock-In Contract & GreenPower
   
Daily Supply Charge:
115.25c/day
ReAmped Energy Standard Anytime$1,280 / year-29%Benefits:
Smart Meter Compatible & No Lock-In Contract
   
Daily Supply Charge:
115.14c/day
Blue NRG VDO Single Rate$1,290 / year-28%

Benefits:
No Lock-In Contract
 
Daily Supply Charge:
115.25c/day

Real Utilities - Citipower Standing Offer$1,290 / year-28%

Benefits:
No Lock-In Contract
 
Daily Supply Charge:
115.25c/day

*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 Melbourne (3000) with average usage of 4,000kWh/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. Selectra advises you to do your own research at energymadeeasy.com before determining if you should sign up for a new energy plan. Offers and availability are subject to change. Read more about Basic Plan Information here. Last Updated January 2024.

See important information close

  • Who is the Cheapest Electricity Supplier in Victoria?
  • Currently, the cheapest electricity supplier in Victoria is Simple Energy.
  • The "Simple Energy Saver" plan is 24% cheaper than the reference price in Victoria, based on prices in Melbourne.

Now that you’ve seen the cheapest electricity plans in Queensland, let's talk about some of the providers that offer the best electricity plans in QLD.

 SUMO Energy VIC

SUMO Energy consistently ranks among the cheapest electricity in Victoria. Their SUMO Switch comes with a whopping 47% discount off the reference price.

SUMO is a highly rated energy provider in Australia, so it's not surprising to find them among the top cheapest retailers in Victoria. While their Select plan is the cheapest option in Victoria, their Assure Plan is their most popular energy plan and is available in multiple states.

Cheapest SUMO Energy Electricity Plans VIC
Plan NameSumo SwitchSumo AssureSumo Standing Offer
Discount Off the Reference Price-47% off-23% off-13% off
Daily Supply Charge66.00c / day110.00c / day115.25c / day
Estimated Annual Cost$950 / year$1,140 / year$1,290 / year

Source: SUMO Energy. Rates based on electricity distributor for Melbourne (3000) with an average use of 4,000kWh/year. Last Updated January 2024.

Selectra's Recommendation
sumo

Call Selectra Now and Get a Better SUMO Plan

  Energy Locals VIC

Energy Locals offers multiple electricity plans with excellent discounts off the reference price in Victoria.

Their cheapest electricity plan in Victoria is the EnergyLocals Online Member Plan which offers a 45% discount and a flat rate.

This plan doesn’t require a lock-in contract, and offers a $12.99/month membership fee credited back if you stay with Energy Locals for 6 months. You must pay via direct debit for this plan, but the prices make it worth it!

Another great choice for an electricity plan in VIC is the EnergyLocals Local Member Plan. With this plan you can enjoy flexible payment methods, no exit fees, and the $17.99/month membership fee credited back if you stay with Energy Locals for 6 months.

Both of the EnergyLocals plans offer 100% carbon offset, making EnergyLocals a great energy provider for those interested in helping the environment.

 

Cheapest EnergyLocals Electricity Plans NSW
Plan NameOnline MemberLocal Member
Reference Price Discount-45% off-17% off
Daily Supply Charge58.00c / day58.00c / day
Usage Rates25.50c / kWh25.50c / kWh
Estimated Annual Bill
(discounts included*)
$990 / year$1,230 / year

Source: EnergyLocals. Rates valid for Ausgrid distribution network on a single-rate tariff with estimated annual usage of 3900kWh/year. Last Updated January 2024.

Selectra's Recommendation
sumo

Call Selectra Now and Get a Better Energy Locals Plan

Overview of The Victorian Energy Market

It’s been almost 20 years since Victoria became an open market for Energy providers. Before that, gas & electricity prices in Victoria were set by the government, meaning Aussies had few options when choosing their energy plans.

Today, the Victorian Energy Market is an ecosystem of competing Victorian electricity & gas retailers offering a large range of plans & rates with different bonuses & discounts.

All in all, this is great news for Aussies! Rivalry brings the best of Victorian power companies and a varied landscape of plans, so it's easier than ever to choose the one that best adapts to your needs.

You only need to go to the Victorian Energy Compare website and start surfing the myriad plans and providers displayed. If you are a newcomer to the Victorian Energy market or just moved to a new apartment, all of this may even feel overwhelming to you, but it’s fairly easy and intuitive.

If you are looking for a quick understanding of the basics for choosing your next energy plan & provider and don’t know where to begin, a good starting point is learning what the Victorian Default Offer is.

What Makes Victoria’s Energy Market Unique? Victoria is the only Australian state that uses its site, Victorian Energy Compare, to compare energy plans & rates. With Victorian Energy Compare, Victorians can learn about the different providers of gas & electricity in their region and compare their prices and plans, as well as other detailed information like the types of tariffs, conditions & potential discounts and rebates like the current $250 power-saving bonus offered by the Victorian government.

How to Compare Electricity Plans in Victoria?

A good starting point to choosing the cheapest provider is looking at the discount off the Victorian Default Offer. However, don't forget to research other aspects of the plan that can potentially help you save money, like bonuses and rewards.

It is important to keep a close eye on a few key aspects, and you won’t feel overwhelmed:

  • Discounts Off the Reference Price: If you are looking for the cheapest electricity in Victoria, the first thing you need to consider is the discount on the Victorian Default Market Offer, which is also often referred to as the reference price. Most electricity retailers in Victoria will display the total discount off the reference price when advertising their plans, as this is the main selling point for Aussies.
  • Solar Tariffs, Bonuses & Rebates: In addition to the market’s standing offer, many retailers will have various plans that offer different rewards.

What is the Victorian Default Offer?

The Victorian Default Offer is the maximum any energy retailer can charge you for their default standing offers (basic government-regulated plans that don't include discounts or bonuses).

The Victorian Default Offer was introduced in 2019 as a way to protect Victorian citizens from potentially unfair prices of energy retailers (lucky you!). In other words, no electricity or gas retailer can charge you more than what the VCO sets for your distribution zone.

What Is the Distribution Zone and How Do I Know Mine? Your distribution zone is usually shown in your electricity bill. If you can’t find it, you can also find out what your distribution zone is by asking your provider or looking it up directly on the Victorian Government’s Energy website.

Victorian Default Offer By Distribution Zone
Distribution ZoneVDO on a Flat-Rate Tarrif
AusNet Services$2,026 / year
Citipower$1,571 / year
Jemena$1,720 / year
Powercor$1,793 / year
United Energy$1,755 / year

Source: Victorian Essential Services Commission, 2022. Prices based on average annual usage of 4,000kWh / 365days. Valid May 2024.

The Victorian Default Offer also differs for residential and business customer. Select below whether you are a residential or small business customer and your type of tariff to find information about the current Victorian Default Offer (the current VDO is valid until 30 June 2023):

Victorian Default Offer by Tariff Type

Victorian Default Offer for Residential Customers - Single Tariff

Here is a list with the current VDO for Victorian residential customers on a single rate tariff:

VDO Single Rate Tariff
Distribution ZoneSupply Charge ($ per day)Usage charge ($ per kWh)Controlled load ($ per kWh)
AusNet Services$1.3251$0.3851 / $0.3955 *$0.2869
CitiPower$1.1525$0.2871$0.2271
Jemena$1.1438$0.3252$0.2639
Powercor$1.3002$0.3292$0.2559
United Energy$1.0814$0.3174$0.2466

Source: the Essential Services Commission site. Valid May 2024.

Victorian Default Offer for Residential Customers - Time of Use Tariff

Here is a list with the current VDO for Victorian residential customers on a time of use tariff:

VDO Time of Use Tariff
Distribution ZoneSupply Charge ($ per day)Peak usage charge ($ per kWh)Off Peak usage charge ($ per kWh)Controlled load ($ per kWh)
AusNet Services$1.3251$0.4932$0.2869$0.2869
CitiPower$1.1525$0.3719$0.2441$0.2271
Jemena$1.1438$0.3925$0.2710$0.2639
Powercor$1.3002$0.4265$0.2772$0.2559
United Energy$1.0814$0.4120$0.2665$0.2466

Source: the Essential Services Commission site. Valid May 2024.

Victorian Default Offer for Small Businesses - Single Tariff

Here is a list with the current VDO for Victorian small businesses on a single rate tariff:

VDO Single Rate Tariff
Distribution ZoneSupply Charge ($ per day)Usage charge ($ per kWh)
AusNet Services$1.3251$0.4155 / $0.4381 *
CitiPower$1.3434$0.2834
Jemena$1.3057$0.3307
Powercor$1.4275$0.3062
United Energy$1.2405$0.3028

Source: the Essential Services Commission site. Valid May 2024.

Victorian Default Offer for Small Businesses - Time of Use

Here is a list with the current VDO for Victorian small businesses on a time of use tariff:

VDO Time of Use Tariff
Distribution ZoneSupply Charge ($ per day)Peak usage charge ($ per kWh)Off Peak usage charge ($ per kWh)
AusNet Services$1.3251$0.4268$0.2537
CitiPower$1.3434$0.3428$0.2230
Jemena$1.6800$0.3687$0.2308
Powercor$1.4275$0.3950$0.2373
United Energy$1.2405$0.3728$0.2336

Source: the Essential Services Commission site. Valid May 2024.

Energy Providers in Victoria

Choosing the best energy provider in Victoria ultimately comes down to your preferences and your energy-usage habits.

While it may be tempting to just go with the cheapest gas or electricity plan, there are many other things you should consider. Sometimes energy plans include attractive bonuses & rebates that can help you save money outside your electricity bill.

It can also be the case that some other providers don’t offer the cheapest deals but have excellent customer service and are 100% based in Australia, which may make it easier to contact them.

Electricity & Gas Providers VIC

Electricity Providers VIC

There is no shortage of Victorian electricity retailers. Victorian Aussies have over 20 different options to choose from and the 3rd lowest bills in Australia thanks to this jolly competition.

This is a List of All the Electricity Retailers in Victoria as of May 2024.:

However, deciding on the best provider can be like picking the best dessert in a fancy restaurant, so keep a close eye on a few key aspects, and you won’t feel overwhelmed.

Gas Providers VIC

Much like with electricity, Victorian residents are in luck when it comes to going on a gas provider hunt.

Victoria is the Australian estate with the largest number of gas retailers, so you should also consider bonuses and rebates when choosing to make your choice. In this list, you will find all gas providers in Victoria as of May 2024.:

  • 1st Energy
  • AGL
  • Alinta Energy
  • CovaU
  • Dodo Power & Gas
  • Energy Australia
  • Globird Energy
  • Kogan Energy
  • Lumo Energy
  • Momentum Energy
  • Origin Energy
  • Powershop Australia
  • Red Energy
  • Simply Energy
  • Sumo
  • Tango Energy

Need Energy Advice ?

Selectra's Energy Experts are Available To Help You Free of Charge


(Free Selectra Service - Currently open)

Call center currently closed (free service - open Monday to Friday from 10am -7pm)
Compare Energy Selectra

Speak to a Selectra Energy Expert About All Your Energy Needs !

Free Callback

Energy Rebates and Concessions in Victoria

The Victorian government has a number of rebates and concessions for energy users in the state.

These Include Gas and Electricity Concessions, solar rebates, and additional incentives to upgrade your household with energy-efficient appliances. Whether you’re interested in installing solar onto your rooftop or need some help with energy bills, these rebates and concessions could save you hundreds of dollars per year.

$250 Power Saving Rebate The Victorian Government is currently offering a $250 Power Saving Bonus to help Victorian customers with the pressure of the current energy crisis. To apply for the rebate, you only need to be a Victorian resident with a recent electricity bill, have a concession benefit and visit the Victorian Energy Compare website.

Renewable Energy in Victoria

Despite once lagging behind some of the other Australian states, Victoria is now on track to reaching it’s renewable energy goals of 50% by 2030.

Currently, over 20% of all energy generation in the state is sourced from renewable energy sources, and while hydroelectricity was the most popular renewable generation method, solar and wind generation has increased considerably in the last six years. This includes the more than 450,000 homes with small-scale solar PV systems installed.

Need Energy Advice ?

Selectra's Energy Experts are Available To Help You Free of Charge


(Free Selectra Service - Currently open)

Call center currently closed (free service - open Monday to Friday from 10am -7pm)
Compare Energy Selectra

Speak to a Selectra Energy Expert About All Your Energy Needs !

Free Callback

Best Solar Feed-in Tariffs VIC

  • 1st Energy offers the highest solar feed-in tariff in Victoria at 66.0 c/kWh.

The Victorian Government is the only state in Australia to set a minimum solar feed-in tariff rate.

If you have a residential solar PV system in Victoria, you’re guaranteed at least 4.9c/kWh for the solar energy you send back into the grid thanks to the minimum rate set by the government.

However, apart from the minimum, many energy providers in Victoria offer higher solar feed-in tariffs so you can earn back even more from what you generate through solar energy. If you have a PV system you may also qualify for the Victoria solar rebate.

New FIT Regulation In Victoria:The Victorian Government is changing the minimum feed-in tariff rate from 5.2c/kWh to 4.9c/kW starting July 1, 2023.

Compare Solar Feed-in Tariffs Victoria

Solar Feed-in Tariffs Victoria
Energy ProviderMinimum FIT RateMaximum FIT Rate
Lumo Energy4.9 c/kWh66.0 c/kWh
SUMO5.2 c/kWh60.0 c/kWh
1st Energy4.9 c/kWh60.0 c/kWh
Dodo5.2 c/kWh60.0 c/kWh
AGL4.9 c/kWh60.0 c/kWh
Energy Australia5.4 c/kWh11.6 c/kWh
Tango Energy5.2 c/kWh10.4 c/kWh
Energy Locals6.7 c/kWh8.3 c/kWh for the first 10 kWh exported each day, 6.7 c/kWh after
Arcline by RACV5.2 c/kWh8.3 c/kWh for the first 10 kWh exported each day, 5.2 c/kWh after
OVO Energy7.0 c/kWh8.0 c/kWh
Momentum Energy6.7 c/kWh7.0 c/kWh
Diamond Energy5.2 c/kWh7.0 c/kWh
Discover Energy5.2 c/kWh6.9 c/kWh
Powershop3.5 c/kWh6.7 c/kWh
GloBird Energy6.7 c/kWh6.7 c/kWh
Alinta Energy6.7 c/kWh6.7 c/kWh
CovaU4.9 c/kWh6.7 c/kWh
Origin Energy4.9 c/kWh12 c/kWh or 20.0 c/kWh if you purchased solar panels via Origin
Red Energy5.2 c/kWh6.2 c/kWh
ReAmped Energy5.2 c/kWh6.0 c/kWh
Simply Energy5.2 c/kWh5.2 c/kWh
Kogan Energy5.2 c/kWh5.2 c/kWh

Valid May 2024.

Smart meters in VictoriaHomes with solar panels will need a smart meter! Take better control of your energy usage and bills by learning how to utilise your Victorian smart meter.

VIC Energy FAQ

How Do I Compare Energy Plans Victoria?

With over 20 gas and electricity providers in Victoria, it can be hard to even know where to begin when comparing energy plans and prices. Cost is often the most important factor when choosing an electricity provider, although you should consider other aspects as well and understand what exactly are you paying for. Doing so will spare you trouble and avoid paying a potential visit to the energy ombudsman

In Victoria, electricity plans are compared using the Victorian Default Offer (VDO) which is used as a benchmark to show how much cheaper or more expensive each plan is versus the government established reference price.

When comparing energy providers and looking for the cheapest plans, it’s important to understand how energy costs are broken down.

There are two rates you pay for energy:

  1. The daily supply charge
  2. The usage rates.

The daily supply charge is a fixed amount paid daily, for connecting your home to the electricity grid, while the usage rates measure how much you pay for your energy usage in cents per unit of electricity (kWh).

You will almost always be better off opting for a plan that has a lower usage charge as this is multiplied by how much energy you use.

Keep in mind you can find all energy providers at compare.energy.vic.gov.au. You can also speak to one of our Selectra energy experts, who can assist you in choosing the plan that is right for you.

Who is the Cheapest Energy Supplier in Victoria?

If you are looking for the cheapest electricity in Victoria, the first thing you need to consider is the discount on the Victorian Default Market Offer, which is also often referred to as the reference price. However, don't forget to research other aspects of the plan that can potentially help you save you money, like bonuses and rewards.

Which is the Best Electricity Provider in Victoria?

Choosing the best energy provider in Victoria ultimately comes down to your preferences and your energy-usage habits.

While it may be tempting to just go with the cheapest gas or electricity plan, there are many other things you should consider. Sometimes, energy plans include attractive bonuses & rebates that can help you save money outside your electricity bill.

It can also be the case that some other providers don’t offer the cheapest deals but have excellent customer service and are 100% based in Australia, which may make it easier to contact them.

What is the Victorian Default Offer 2023?

The Victorian Default Offer is the maximum any energy retailer can charge you for their default standing offers (basic government-regulated plans that don't include discounts or bonuses). The current default offer for 2022-2023 depends upon where you live and your specific distributor. For the purposes of our article and price comparisons, we have used the default offer of $1,480, based on the zip code 3000 in Brisbane, VIC and the Citipower distributor.

The Victorian Default Offer was introduced in 2019 as a way to protect Victorian citizens from potentially unfair prices of energy retailers (lucky you!). In other words, no electricity or gas retailer can charge you more than what the VCO sets for your distribution zone.

How Much is the Average Victorian Energy Bill?

The average energy bill in Victoria is about $1,160 per year. This number depends on your energy provider, distributor, where you live, the size of your household, amount of energy you use, and more. Be sure to compare electricity plans and rates for your specific location and unique circumstances.

What are Peak Electricity Times in Victoria?

Peak and Off-Peak electricity times are the time intervals during a day in which energy consumption is at its highest (peak electricity times) or at its lowest (electricity off-peak hours). Peak electricity times in Victoria are generally between 3pm and 9pm on weekdays. Off-peak electricity times in Victoria are between the hours of 10pm and 7pm. All other hours of the day are considered 'shoulder hours'.

Need Assistance?

We're Here to Help

At Your Service!

A Selectra Energy Specialist is Available to Help:

1300 560 964 
Standard Rate Number
Monday to Friday: 10am - 7pm


Free Callback