Thinking of comparing electricity providers in Australia? There’s been a lot on the news lately about electricity price comparison! In December 2020, the Australian Energy Market Commission (AEMC) released an astonishing finding; consumers can save up to $522 by switching from the priciest to the cheapest plan.
Surprisingly, many Australians haven’t checked in years whether they’re still on the best plan available to them. With increasing competitive pressure and government policy pressure on the electricity market, there are now many great offers out there! Unlike the price comparison of even a decade ago, it’s so easy to review electricity plans at a glance. Depending on the comparison website you visit, they’ll give you an estimated electricity quote depending on your circumstances; and even get the connection process started for you.
The whole process of electricity plan comparison only takes about 5 minutes; and if you’re having trouble understanding the jargon, don’t worry: it’s surprisingly easy. You don’t have to be technical to get the best deal!
Currently, you’ll have a standard contract (old and expensive, with a price cap regulated by State/Territory government), or a market contract. Market contracts are set by energy retailers, with varying contract lengths, discounts, and benefit periods. They provide the opportunity to cut costs if you stick to the conditions.
You can contact your provider to find out what type of contract you have, and you can use an energy comparison tool to explore other offers and make sure you’re getting your best deal.
So, what does the market look like state-by-state? Let’s explore!
Electricity Providers in NSW
As Australia’s most populous state, there’s a ton of plans you can choose from, provided by over 20 electricity retailers. Some better-known ones are Red Energy, Alinta Energy, Dodo Power & Gas, AGL, ActewAGL, Click Energy, Energy Australia, and Origin. These electricity retailers purchase their wholesale electricity from three electricity distributors; Ausgrid services inner, northern and eastern Sydney; Endeavour Energy services southern and western Sydney; and lastly, Essential Energy
services country and regional NSW.
Want more information? Visit Electricity Providers NSW for a detailed guide.
Electricity Providers in VIC
Victorians are spoiled for choice too! The Garden State has five electricity distributors: Citipower services Melbourne and inner suburbs; Jemena services northern and South-Western suburbs; Powercor Australia services Western suburbs and Western Victoria; AusNet Services services outer Northern and Eastern suburbs; and lastly, Eastern Victoria United Energy Distribution services Southern suburbs and Mornington Peninsula. Victoria also has 20+ electricity providers; get the full list and helpful details at Electricity Providers Victoria.
Electricity Providers in QLD
The SEQ (South East Queensland) has only been fully deregulated since 2016, so a lot of power customers are still on the more expensive standard contracts, rather than market offers. Regional QLD customers cannot choose their provider; their market is still regulated, but electricity costs are subsidised so regional QLD customers don’t end up paying more than SEQ customers.
For more great info, head to Electricity Providers QLD.
Electricity Providers in SA
South Australia is the nation’s most expensive power market, but also the top renewables performer. The state’s power generation is 60% renewable, and the whole state was solar-powered for one hour last October – a world-first! There are almost 20 electricity providers to choose from, so it pays to shop around.
Want to know more? Visit Electricity Providers South Australia.
Electricity Providers in ACT
There is only one distributor in the ACT, called ActewAGL. The market is semi-regulated, so there’s less competition here, but there are currently nine residential electricity providers operating in the ACT, with three more retailers servicing only business electricity customers. Most ACT residents are with ActewAGL. But with increased competition in recent years, it’s still worth looking into whether you’re getting your best deal!
Electricity Providers in WA, NT, and TAS
WA is still a regulated market, with one residential electricity provider (Synergy). While the NT market is open to full competition hypothetically, it’s dominated by government-owned providers. So there’s limited room for choice compared to some other parts of the country. For most NT residents, there are two choices (Jacana Energy &Rimfire Energy); the Power and Water Corporation acts as the power retailer for remote communities. Similarly, TAS residents have two providers to choose from: Aurora Energy & 1st Energy.
Want to learn more about the Australian electricity market? Check out the Econnex blog for plenty more electrifying insight!