Why should I compare electricity plans in Australia?

Comparing electricity plans is free and helps ensure you're not overpaying for power. Switching from a default offer to a competitive market plan can save you hundreds annually, depending on your location and usage.

What is the difference between a default offer and a market offer?

A default offer is a basic plan with higher rates, often applied after your benefit period ends. Market offers are competitive plans with better rates and discounts, available when you actively compare and switch providers.

How can I find the best electricity plan for my needs?

Use an online comparison tool to evaluate plans based on your usage, rates, discounts, and customer reviews. Consider factors like contract length, payment options, and any additional benefits or services offered.

Is there a cooling-off period when switching electricity?

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.

Compare Energy in Australia: Electricity Plans & Prices

Q: What are the different types of energy tariffs?

The most common types of energy tariffs in Australia are single rate tariffs, time of use tariffs, controlled loads and demand tariffs.

The retail energy market in Australia

Jared Mullane

Senior Finance Writer

The retail energy 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, Australians in deregulated areas can easily compare energy plans against a baseline price, making it simpler to assess the overall value of different deals. Additionally, with renewable energy sources accounting for about 35% of total electricity generation in 2023, it's clear that the shift toward more sustainable energy solutions is well underway.

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.

But don't just take our word for it...

The ACCC, Australia's consumer watchdog, recently urged consumers to shop around for a better deal as there's no reward for being loyal.

In fact, some retailers may 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 $375 and $501 a year by switching from these types of default plans.

Electricity price comparison: Default vs market offer

Energy retailer & plan	Sumo - sumoSWITCH
Annual Default Offer (Ausgrid)	$1,965
Annual Estimated Market Offer	$1,464
Annual Estimated Savings	$501
Energy retailer & plan	OVO Energy - One Plan
Annual Default Offer (Ausgrid)	$1,965
Annual Estimated Market Offer	$1,512
Annual Estimated Savings	$453
Energy retailer & plan	Red Energy - Qantas Red Saver
Annual Default Offer (Ausgrid)	$1,965
Annual Estimated Market Offer	$1,537
Annual Estimated Savings	$428
Energy retailer & plan	Powershop - Switch Saver
Annual Default Offer (Ausgrid)	$1,965
Annual Estimated Market Offer	$1,589
Annual Estimated Savings	$376
Energy retailer & plan	Kogan Energy - Free FIRST
Annual Default Offer (Ausgrid)	$1,965
Annual Estimated Market Offer	$1,590
Annual Estimated Savings	$375

Energy retailer & plan	Annual Default Offer (Ausgrid)	Annual Estimated Market Offer	Annual Estimated Savings
Sumo - sumoSWITCH	$1,965	$1,464	$501
OVO Energy - One Plan	$1,965	$1,512	$453
Red Energy - Qantas Red Saver	$1,965	$1,537	$428
Powershop - Switch Saver	$1,965	$1,589	$376
Kogan Energy - Free FIRST	$1,965	$1,590	$375

Please note that estimated costs are accurate as of 1 July 2025. 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 $1,965/year. These estimated costs are based on a specific postcode within the Ausgrid distribution network in Sydney, NSW. 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.

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.

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.

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

What’s the difference between electricity supply charges and electricity usage rates?

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.

What are the main types of energy plans?

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.

What fees and charges should you be aware of?

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.

What are the different types of energy tariffs?

The most common types of energy tariffs in Australia are:

Single rate: There are no peak or off-peak times and you will be charged the same rate regardless of when you use energy.

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.

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.

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.

What are peak and off-peak energy times?

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.

What is a smart meter and do you need one?

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.

Regulated vs deregulated energy market: What’s the difference?

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.

What is an energy distributor?

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.

How many electricity retailers are there in Australia?

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:

1st Energy

ActewAGL

AGL Energy

Alinta Energy

Amber Electric

Aurora Energy

Blue NRG

CovaU Energy

Diamond Energy

Dodo

Electricity in a Box

Energy Locals

EnergyAustralia

ENGIE (formerly Simply Energy)

Enova Energy

Ergon Energy

Flow Power

GloBird energy

Kogan Energy

Lumo Energy

Momentum Energy

Nectr

Next Business Energy

Origin Energy

OVO Energy

Powershop

Red Energy

Sumo

Tango Energy

Which is the cheapest energy retailer in Australia?

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.

Why are electricity prices increasing?

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.

How can I compare electricity and gas prices?

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.

Can I switch energy providers?

Yes, you can switch electricity providers if you live in an area or state of Australia where the energy market is deregulated. You can switch at any time and it's generally free to do so.

What is a solar feed-in tariff?

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.

Where does Australia’s energy come from?

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.

Are green energy plans worth it?

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.

What does ‘carbon offset’ mean?

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.

Important information

Disclaimer

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.

Compare Energy: Electricity Plans, Prices & Providers

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