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Compare Energy: Electricity Plans, Prices & Providers

Money.com.au's Senior Finance Writer, Jared Mullane

Written By

Jared Mullane

Last updated14 November 2024

Compare energy plans and prices from some of Australia’s biggest electricity providers, and use our guide to find the best energy deals.

Compare Energy: Electricity Plans, Prices & Providers

Money.com.au's Senior Finance Writer, Jared Mullane

Written By

Jared Mullane

Last updated14 November 2024

Compare energy plans and prices from some of Australia’s biggest electricity providers, and use our guide to find the best energy deals.

Some of the Energy providers we compare

Compare electricity plans across Australia

ENERGY

Compare Electricity in New South Wales

Explore the best electricity providers in NSW and compare cheap energy prices from 20+ providers. Use our NSW energy guide to help you find a better deal.

Money.com.au's Senior Finance Writer, Jared Mullane

By Jared Mullane

ENERGY

Compare Electricity in Victoria

Ready to compare electricity in Victoria? Explore some of the cheapest energy prices and plans in Melbourne from 20+ VIC providers to see if you could save.

Money.com.au's Senior Finance Writer, Jared Mullane

By Jared Mullane

Understanding the energy retail market in Australia

A young family in a home using energy.
Money.com.au's Senior Finance Writer, Jared Mullane
Jared Mullane

Senior Finance Writer

The energy retail market in Australia is fairly competitive in most states, giving consumers plenty of electricity providers to choose from. Since the introduction of the Reference Price and the Victorian Default Offer in July 2019, consumers in deregulated areas can easily compare energy plans against a baseline price, making it simpler to assess the overall value of different deals. Moreover, renewable energy sources made up around 35% of total electricity generation in 2023, highlighting the ongoing shift toward more sustainable energy solutions.

Electricity by the numbers

pie chart

Number of energy retailers in operation

30+

Residential customers that could be paying too much for power

79%

Australians who say energy is their most dreaded bill

27%

Percentage of fossil fuels in Australia’s total electricity generation

65%

Why compare electricity in Australia?

There are many reasons to compare electricity. Not only is it 100% free to compare, it’s also a quick and easy way to ensure you’re not paying too much for power. Depending on where you live, Money.com.au’s analysis shows switching to a cheaper energy plan from a default offer can save you hundreds of dollars a year.

Power companies aren’t known for rewarding loyalty. In fact, some retailers will transfer you onto a less competitive plan, known as a ‘default’ or ‘standing’ offer, if your existing electricity plan’s benefit period has expired (typically 12 or 24 months). Default offers generally have higher electricity rates than the more competitive and newer plans in market, otherwise known as ‘market’ offers.

In the table and example below, you’ll see that some Sydney customers could save between $326 and $435 a year by switching from these types of default plans.

Electricity price comparison: Default vs market offer

Energy retailer & plan

GloBird Energy - GLOSAVE

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,375

Annual Estimated Savings

$435

Energy retailer & plan

Dodo - Residential Market

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,381

Annual Estimated Savings

$429

Energy retailer & plan

Ampol Energy - Powering On

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,399

Annual Estimated Savings

$411

Energy retailer & plan

Kogan Energy - Free FIRST

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,399

Annual Estimated Savings

$411

Energy retailer & plan

ENGIE - ENGIE Perks

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,410

Annual Estimated Savings

$400

Energy retailer & plan

Pacific Blue - Blue First

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,420

Annual Estimated Savings

$390

Energy retailer & plan

Momentum Energy - Warm Welcome

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,420

Annual Estimated Savings

$390

Energy retailer & plan

Sumo - sumoSPARK

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,426

Annual Estimated Savings

$384

Energy retailer & plan

Powershop - Switch Saver

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,440

Annual Estimated Savings

$370

Energy retailer & plan

AGL - Value Saver

Annual Default Offer (Ausgrid)

$1,810

Annual Estimated Market Offer

$1,484

Annual Estimated Savings

$326

Energy retailer & planAnnual Default Offer (Ausgrid)Annual Estimated Market OfferAnnual Estimated Savings

GloBird Energy - GLOSAVE

$1,810

$1,375

$435

Dodo - Residential Market

$1,810

$1,381

$429

Ampol Energy - Powering On

$1,810

$1,399

$411

Kogan Energy - Free FIRST

$1,810

$1,399

$411

ENGIE - ENGIE Perks

$1,810

$1,410

$400

Pacific Blue - Blue First

$1,810

$1,420

$390

Momentum Energy - Warm Welcome

$1,810

$1,420

$390

Sumo - sumoSPARK

$1,810

$1,426

$384

Powershop - Switch Saver

$1,810

$1,440

$370

AGL - Value Saver

$1,810

$1,484

$326

This table shows a price comparison between market offers and default offers from a selection of energy retailers in New South Wales. This comparison assumes a general electricity usage of about 3,900kWh/year for a household on a single rate tariff. Based on the general electricity usage, the AER Reference Price (Default Offer) is $1,810/year. These estimated costs are based on a specific postcode within the Ausgrid distribution network in Sydney, NSW. Please note that estimated costs are accurate as of 22 October 2024. Always ensure that all details are checked directly with the energy retailer before making a purchase decision. We are not making a recommendation about any particular product. Check the Basic Plan Information Documents for further details. All plan information above has been taken directly from each energy retailer’s website. This is not an exhaustive list of energy providers and plans available in this area.

We recently asked Australians to rank the bills they dread the most. Energy bills came out on top, with 27% of respondents saying they dread their next utility bill, followed by council rates at 18% and car insurance premiums at 15%.

Energy comparison jargon buster

The Better Bills Guideline was introduced in 2023 by the Australian Energy Regulator (AER) where power retailers must comply with new obligations that make energy bills easier to understand for consumers. Now, ‘best offer’ messaging has to be present on the first page of an energy bill, outlining details on how to switch to the better plan.

Furthermore, energy providers are required to use plain and clear language in their utility bills, with critical information such as rates and fees prominent and clearly identifiable.

The mandatory guidelines aim to make energy bills simplified for customers in New South Wales, Queensland, South Australia, Tasmania and the ACT. This type of bill messaging is also in effect in Victoria.

Put simply, the Reference Price for electricity is a ceiling price all retailers must adhere to, while also serving as a benchmark price for customers to compare market offer plans from. It is based on model electricity usage assumptions within a specific distribution network. For example, the current Reference Price in Sydney on the Ausgrid network is $1,810/year for residential customers on a single rate tariff.

Although the Reference Price makes comparing energy plans easier for consumers, it is still only an assumption, not an actual price. The price you pay for electricity will largely depend on your energy usage habits.

The Reference Price applies to households and small businesses in New South Wales, South East Queensland, South Australia, and the ACT.

The Victorian Default Offer or ‘VDO’ is a price cap that’s set by the state’s energy regulator - the Essential Services Commission (ESC). It is designed to protect Victorian customers who don’t engage in the market (i.e. haven’t switched plans or providers in a while) by being the maximum a retailer can charge households and small businesses.

The VDO is updated every year on 1 July by the ESC to reflect conditions across the wider energy market.

VDO prices will differ depending on which distribution network you live on. There are five electricity distribution networks across Victoria - Ausnet Services, Citipower, Jemena, Powercor Australia and United Energy - all of which have their own set VDO prices.

The Default Market Offer or ‘DMO’ is essentially a basic energy plan with prices that are equal to the Reference Price. It applies to residential and small business customers in New South Wales, South East Queensland and South Australia. Much like the Victorian Default Offer, the DMO safeguards consumers who don’t pay too much attention to their energy bills.

You may see Default Market Offers advertised by energy providers as ‘Standing Offers’ or ‘Basic’ plans, which is generally an indicator there are better deals available (market offers), either by the same provider or another company.

DMO pricing is set each year on 1 July and will differ according to the electricity distribution network you live on.

What to look for in a new energy provider

Compare electricity and gas plans in SA with Money Matchmaker
  • Cheap electricity rates: Energy retailers are constantly introducing new market offers, some of which have cheaper rates. A plan with low usage and supply rates is usually what’ll save you the most.
  • Discounts and perks: Many retailers use add-on perks to incentivise new customers to switch. This includes benefits like discounts, sign-up credits and frequent flyer rewards points. These nice-to-haves offer another layer of value.
  • Bill smoothing options: Some energy providers offer bill smoothing where you pay a set amount every month or designated billing cycle. This unique form of payment is designed to eliminate bill shock, and it can help you budget better.
  • Incentives for bundled plans: If you can find the right bundled deal, streamlining your supplier for electricity and gas is an excellent option if you struggle to keep on top of invoices. You may even be rewarded for combining both utilities in the form of a small discount.
  • Green plans: Many retailers offer ways for you to support renewable energy generation across Australia, such as by choosing a GreenPower plan. It’s important to note that GreenPower usually comes at an additional cost.
  • Solar rebates: If you have solar panels on your roof, you may be eligible for solar energy rebates, which can significantly reduce or eliminate your power bills.

Switching isn’t the only way to ensure you’re paying a fair price for energy. One of the simplest ways to save money on your electricity bill is to contact your power company and ask if a better deal is available.

Can you choose your own energy provider?

Yes, if you live in New South Wales, Victoria, South East Queensland, South Australia and the ACT, you are free to choose your own energy provider. While Tasmania is now open for competition with retailers, prices are still regulated by the state government.

Although most of Australia has a deregulated energy market, meaning consumers are free to choose their own provider, some parts of the country won’t have any choice. For electricity, this includes Western Australia, the Northern Territory and regional/North Queensland. Here are your current choices for electricity providers in these states and regions:

  • Western Australia: Synergy
  • Northern Territory: Jacana Energy
  • Regional/North Queensland: Ergon Energy
  • Tasmania: Aurora Energy, 1st Energy, CovaU Energy, Energy Locals

AGL, Origin and EnergyAustralia are the three largest electricity retailers in Australia, with a combined market share of roughly 64%. They are known as ‘Tier 1 retailers’.

Is bundling gas with electricity a good idea?

Australian Energy Discounts with Money Matchmaker

The short answer: it depends. If your electricity provider also offers natural gas, then it’s worth considering a bundled approach, particularly if there is an incentive to do so (i.e. a discount or bill credit). However, you should always check the rates of your current gas plan before making the switch.

Although it might be enticing to bundle your utilities, it may be cheaper for each power source (electricity and gas) to come from separate suppliers. For example, a one-off discount for bundling may not be enough to justify switching gas providers over a 12-month period. This is because your existing (or an entirely different) plan may have cheaper gas rates that would negate any savings from a standalone discount.

In addition to natural gas, there are some electricity providers that offer a range of other services, including Liquified Petroleum Gas (LPG), internet plans and mobile phone plans. Most of these multi-service providers offer discounts for bundling from time to time and could provide some overall savings if you know where to look.

What are your options if you have solar?

Thankfully in Australia you have an array of options if you have solar. Whether it’s energy retailers offering generous solar feed-in tariff rates, solar-specific plans or deals tailored to electric vehicle (EV) owners, there are plenty of ways for you to save on your electricity bills.

Most, if not all providers offer small rebates for feeding excess power into the grid, known as a ‘feed-in tariff’. There are even power companies that install solar panels and batteries if your existing rooftop system needs to be replaced.

If you have solar, always compare energy providers and check to see if their deals have:

  • Cheap electricity usage and supply rates
  • An above average solar feed-in tariff
  • Discounts, bill credits or rewards programs

Lastly, you may want to check to see a retailer’s service record by browsing real customer reviews and testimonials, as well as any other handy features on offer like apps and online portals.

More energy FAQs

Supply charges (also called a fixed or service charge) are the cost to transport energy to your property and stay connected to the network. Usage charges are the price you’re charged for the amount of energy you use.

There are two main types of energy plans in Australia - market offers and standing (default) offers. A market offer is generally a retailer’s most competitive plan, often featuring cheaper electricity rates, sign-up incentives and discounts. A standing offer is a default contract that is normally less competitive but does have a regulated ‘price cap’ on it to protect consumers.

When signing up to an energy plan, it’s important to read the fine print of the contract. There may be unexpected fees lurking, such as payment processing charges if you pay by credit card or if you miss a bill payment by its due date.

Other common charges include paper bill fees if you receive bills via mail, connection fees if you are connecting your electricity supply at a newly-built property, or disconnection fees.

The most common types of energy tariffs in Australia are:

    circle-green-tick
  • Single rate: There are no peak or off-peak times and you will be charged the same rate regardless of when you use energy.
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  • Time of use: You will be charged different rates for using power during certain periods of the day, known as peak, off-peak and shoulder.
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  • Controlled load: Most large appliances like electric hot water systems will be connected to a controlled load where you’ll be charged a separate rate.
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  • Demand: Some retailers may apply this tariff which charges you a ‘demand’ on top of your usage and supply rates for how intensely you use power during a particular period.

If your energy plan is on a time of use tariff, you will be charged for your power usage at different rates depending on the time of day. For example, a peak time is typically when electricity is being consumed the most, such as the afternoon and early evening hours on weekdays, where you’ll likely be charged a higher usage rate.

Off-peak times usually reflect periods throughout the day where energy isn’t in high demand, such as late at night or early in the morning. Some retailers may also charge a ‘shoulder’ rate, which is a period between peak and off-peak times – generally less expensive than peak but slightly higher than off-peak.

A smart meter is a device that measures a property’s electricity consumption and transmits it to your energy retailer in 30-minute intervals. This data can be accessed remotely by your retailer and is considered a more accurate and reliable way of reading your power usage.

All new and replacement meters are mandatory in Australia, except in the Northern Territory and Western Australia. According to the Australian Energy Regulator, a smart meter gives you more options on how you use and manage your electricity, while giving you access to a wider range of energy services.

In Australia, there are two types of retail energy markets - regulated and deregulated. A regulated market is where consumers will have no choice (or limited choice) as to who their energy provider is, while a deregulated market is where consumers can choose from a range of retailers.

For example, Western Australia has a regulated electricity market for residential and small business customers where there is no other option than government-owned Synergy, who sets the electricity rates. However, the state’s gas market is deregulated, meaning customers can choose a provider and gas companies are able to set their own rates and fees.

The deregulated electricity markets in Australia are New South Wales, Victoria, South East Queensland, South Australia, and the ACT. In these locations consumers are free to choose their power company and power companies are free to set their rates on market offers.

An energy distributor is the company responsible for maintaining energy infrastructure within a specific region. Distributors take care of the grid, pipes, poles and wires that supply households and businesses with electricity and gas. Each state or region has different distributors. For example, the distributor in South East Queensland is Energex, while Ergon Energy looks after the rest of the Sunshine State.

Energy distributors are not to be confused with energy retailers, and have nothing to do with issuing utility bills.

There are more than 25 electricity providers operating across Australia. Here’s a list of power companies you may be able to choose from, depending on where you live:

    circle-green-tick
  • 1st Energy
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  • ActewAGL
  • circle-green-tick
  • AGL Energy
  • circle-green-tick
  • Alinta Energy
  • circle-green-tick
  • Amber Electric
  • circle-green-tick
  • Aurora Energy
  • circle-green-tick
  • Blue NRG
  • circle-green-tick
  • CovaU Energy
  • circle-green-tick
  • Diamond Energy
  • circle-green-tick
  • Dodo
  • circle-green-tick
  • Electricity in a Box
  • circle-green-tick
  • Energy Locals
  • circle-green-tick
  • EnergyAustralia
  • circle-green-tick
  • ENGIE (formerly Simply Energy)
  • circle-green-tick
  • Enova Energy
  • circle-green-tick
  • Ergon Energy
  • circle-green-tick
  • GloBird energy
  • circle-green-tick
  • Kogan Energy
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  • Lumo Energy
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  • Momentum Energy
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  • Nectr
  • circle-green-tick
  • Next Business Energy
  • circle-green-tick
  • Origin Energy
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  • OVO Energy
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  • Powershop
  • circle-green-tick
  • Red Energy
  • circle-green-tick
  • Sumo
  • circle-green-tick
  • Tango Energy

The cheapest energy retailer in Australia will vary depending on which Australian state you live in, and your energy usage requirements. Some energy retailers will provide cheaper options than others if you use solar panels at your residence, or if you choose to combine both your electricity and gas plans with a single retailer.

Electricity prices have risen dramatically in Australia due to major increases in wholesale costs – the price that retailers pay for energy. In addition to increasing wholesale costs, other contributing factors are rising network costs to maintain the poles and wires, as well as higher admin costs for retailers to provide a service to customers while also turning a profit.

To quickly and easily compare energy retailers in Australia, you can use an energy comparison tool that shows the pricing for multiple retailers. This will allow you to compare prices and plans for electricity, gas, or a combination of both. Using a tool which allows you to filter results by your location will allow you to compare energy plans available in your area.

Here's a step-by-step list on how to switch energy providers in Australia:

    circle-green-tick
  • Check to see if there are any exit fees on your current plan
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  • Review your current plan’s usage rate (c/kWH), supply charge (c/day) and any discounts or incentives
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  • Determine your energy requirements (check an existing bill for your usage)
  • circle-green-tick
  • Compare the best energy plans against your current plan
  • circle-green-tick
  • Once you’ve made a decision, make the switch to your new plan and energy provider
  • circle-green-tick
  • Your new power company will likely take it from here (i.e. break the news to your old retailer)
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  • You should receive confirmation of the switch from your new provider
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  • Cancel direct debit payments to your old provider
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  • Login to your new provider’s portal and access any benefits or features
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  • Keep note of your new billing cycle

More often than not, it costs nothing to switch to a new energy provider. However, when changing power companies, you will need to ensure that you account for any early exit fees or penalties for cancelling your current plan early. The good news is that most plans today have no lock-in contracts or exit fees, meaning it’ll cost you nothing to switch.

If in doubt, contact your current electricity retailer for more information about any restrictions or penalties that may apply to cancel your existing plan early. Before deciding to switch energy suppliers, it’s worthwhile reviewing your existing agreement and its terms and conditions.

If you decide to change energy retailers, your electricity and gas can be switched within as little as two business days. New rules were introduced in late 2021 to speed up the switching process, which previously took as long as 90 days.

Now, customers can take advantage of cheaper rates and better deals almost overnight, which means retailers are encouraged to offer their best plans at all times, not just as a way of retaining a customer when they decide to leave.

Yes, after switching energy providers you’ll be given a cooling-off period of 10 business days. During this time you are free to cancel the contract should you change your mind. To do so, simply contact your retailer within this period to cancel your plan.

A solar feed-in tariff is a small rebate you’ll receive from your energy retailer for exporting excess electricity back into the grid. Solar feed-in tariffs are paid in cents per kilowatt-hour (c/kWh) and will vary in rates (i.e. 4c to 12c/kWh) depending on the power company and plan.

Fossil fuels, such as coal and gas, account for roughly two-thirds (68%) of Australia’s total electricity generation, according to the latest data from the Department of Climate Change, Energy, the Environment and Water. Although our power supply still relies heavily on fossil fuels, renewable energy such as solar (14%), wind (11%) and hydro (6%) are increasingly contributing to the mix.

If you’re conscious about the environment and your carbon footprint, then a green energy plan is worth considering. In Australia, you can usually add GreenPower to your plan, which supports the generation of electricity from government accredited renewable sources, such as wind and solar farms. However, choosing a GreenPower plan will likely come at an additional cost.

It’s also worth noting that all properties connected to the power grid will be using electricity from a mixture of renewable and non-renewable sources. Adding GreenPower simply means you’ll be paying for an equal amount of renewable energy that matches your usage (or a portion of your usage that you choose), which is then fed into the grid.

For example, EnergyAustralia gives customers a choice of adding 10%, 20% or 100% of GreenPower to their electricity plan. Again, this comes at an additional cost to the bill-payer.

Carbon offset simply refers to an energy plan being ‘carbon neutral’, meaning that it allows you to offset your emissions by investing in green initiatives around the world. Some retailers will allow you to opt in for carbon neutral energy at no extra cost, while others may charge a small fee for doing so.

Jared Mullane is a finance writer with more than seven years of experience at some of Australia’s biggest finance and consumer brands. His areas of expertise include home loans, personal finance and insurance.

Sean Callery is the Editor of Money.com.au. He has over 15 years of international experience. He is qualified with a Certificate IV in Finance and Mortgage Broking (FNS40821) and is compliant to provide general advice in Tier 1 General Insurance (RG 146) products.

Important information

All information and details for listed plans, discounts, incentives, usage rates, supply charges and fees are only accurate based on the examples provided at the time of writing. Actual rates may differ based on your location, your tariff(s) type, electricity use, or eligibility for plans. Product information is subject to change without notice. Before acting on any information on this page, you should confirm the relevant product information with the provider.

General information only

The information on this page is general in nature and has been prepared without considering your objectives, financial situation or needs. You should consider whether the information provided and the nature of the product is suitable for you and seek advice if necessary.

We are not providing you with a recommendation or suggestion about a particular energy product. You should review the relevant product information carefully before deciding on which product is best for you.

What products, features and information are shown

While we make every effort to ensure all energy providers available in each relevant market are shown in our comparisons, we do not guarantee that all products are included.

Our product comparisons may not compare all features and attributes relevant to you.

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