Have you just received bill shock at the size of your electricity bill? Do you want to find a plan with great supply and usage rates, discounts and features? We’re ready to help. However, to get the most out of your comparison, we want to help you understand a little more about your electricity bill.
Market Contract – your provider will typically offer you more competitive electricity supply and usage rates if you’re on a market contract. Your contract may feature discounts and perks; however, these may change at the end of a contract or benefit period (e.g. 12 months).
Regulated/standing contract (like the Default Market Offer or Victorian Default Offer) – you’re likely on a plan that doesn’t feature any discounts. These offers may not include as competitive supply and usage rates as others. You are typically on this contract if you’ve never entered into a market contract or been on the same market plan for more than 12 months.
Providers charge different rates (i.e. tariffs) for your electricity usage, sometimes depending on when you use energy.
Plans can offer discounts on electricity usage and supply charges or other perks (e.g. movie and game tickets) which is subject to conditions being met such as paying by Direct Debit or paying monthly.
There’s also an increase of electricity retailers who partner with aligned businesses such as telco providers and insurance companies to make additional or more attractive discount offers if you have memberships.
Make sure when comparing plans, you check whether these benefits provide real value to you.
To help you spot value between plans, providers must now show how their discounted plans compare to the reference price. The reference price is a benchmark estimated cost based on your location’s average annual electricity usage. Below is an example of how this may look.
Please note: The above is an example only of how the reference price may appear and your actual costs and usage will vary.
Remember: these perks and benefits are typically set for a period (e.g. 12 or 24 months).
It’s easy to compare electricity plans with our free comparison service. Just let us know:
You can then easily compare a range of electricity plans and their features in one location. Personalise it:
You can currently compare electricity prices in many parts of Australia, such as:
We currently don’t compare options in these locations:
Please note: We don’t have access to all of the products available in your area: We do not compare all retailers in the market, or all products offered by all brands. At times certain brands or products may not be available or offered to you. From time to time we may have access to better offers that are only available over the phone. Call us to see if you are eligible. Learn more.
When you’re switching electricity providers, your existing account will be transferred from one electricity provider to another without any disruption to your service. As of 1 October 2021, electricity transfers no longer take up to 90 days as they did in the past. Instead, transfers can now occur within two business days.
Some providers will even allow you to backdate your new electricity plan to your last meter reading, meaning you could pay the lower price of your new plan for electricity you’ve already used. If you have a traditional basic meter, which is read quarterly, this could be up to 65 business days in the past. If you have a smart meter, this could be up to 10 business days in the past. These retrospective transfers aren’t an option with all electricity providers, so always check before switching.
Remember: while your actual electricity supply is the same regardless of your provider, most will have different pricing, levels of customer service and terms of use.
Simply put, deregulation occurs when the government removes its retail price regulation on energy usage so that private companies can set more competitive prices. Deregulation is important because it allows you to pick an electricity provider (retailer) of your choice and take advantage of such competition between prices.
Anyone living in NSW, VIC, SE QLD, parts of SA or the ACT can take advantage of multiple retail suppliers due to electricity market deregulation and greater competition in these locations.
No, supply charges and usage charges are not the same when it comes to electricity.
Supply charges, which are calculated daily,refer to the cost of transporting electricity to your home and staying connected to the network. Usage charges are the prices that electricity providers charge you for the electricity you use.
It’s your provider who determines what your daily supply and usage charges will be, based on what energy distributors charge them for electricity supply.
Unfortunately, there is no option to ensure all the power supplied to your home or business is generated from renewable energy, as all electricity generated is sent to the same grid that everyone uses. Keep in mind that this may include power sourced through solar, hydroelectricity, wind and other renewable sources.
Instead, some energy companies allow you to add a GreenPower option to your plan. On select plans with GreenPower, your provider can add renewable energy to the electricity grid on your behalf and ensure that they continue to fund renewable energy projects.
Providers may also offer carbon-neutral plans, where they work out the carbon emissions your home or business’ electricity (or gas) produces. Then they purchase carbon offsets to cancel out the emissions you’ve produced effectively.
You can also invest in solar energy and use the power your solar system generates, so you rely less on the grid and reduce your usage costs.
Everyone uses power differently, so there’s no one best way to save electricity. However, some simple steps you can try include:
Find out more about ways to save electricity here.
Electricity distributors (who supply electricity through wires and poles to your home rather than selling you power) are based on where you live. As such, you can’t change them. However, you can change your provider (also known as your retailer). Your provider sets electricity plans and invoices you for the electricity you use.
It’s entirely possible for neighbours or people in the same area to pay different amounts for the same electricity usage – even if it’s coming from the same power grid. This is because providers price differently based on different meters and tariff configuration. They can also price electricity products differently, based on unique discounts or incentives, which is why it’s important to always compare electricity plans.
Similarly, if a neighbour is on a solar feed-in tariff, where they have solar panels and put solar energy back into the electricity grid, this could also affect the price they pay for electricity usage.
Yes, Compare the Market’s energy price comparison tool allows you to compare gas plans from various energy providers in Australia. We will ask some questions about your home and gas needs and display a range of relevant energy retailers and plans.
Our service is free and easy to use.
No, you must pay GST (goods and services tax) on all electricity plans in Australia. The GST amount will always be included on your electricity invoice.
We make it easy to compare electricity plans and their features with our free electricity comparison service.
Why settle for the same plan when there could be a better one out there? Compare electricity plans today.
As the General Manager of Utilities at Compare the Market, Brett Mifsud is our resident expert in energy. He believes in educating Australian customers about the ins and outs of the electricity market in their area so they can make informed decisions on their electricity.
With more than 10 years of experience in the energy sector across energy exploration, production and sales, Brett hopes to change the energy landscape in Australia through comparison services. He holds a Master of Business Process Management from QUT and has led operational and project teams in the energy industry to deliver transformative change across sales, customer service, marketing and energy meter reading and billing. Brett also guest lectures at The University of Queensland.
