Australia’s best electricity companies for 2020
With Australians now spending more time than ever at home, it’s no surprise their energy bills may be higher than usual. But did you know you could save potentially hundreds of dollars just by switching to one of the best electricity companies around?
While searching for the sharpest electricity prices in your state or territory can involve a lot of effort, it doesn’t have to. If you’re confused by all the jargon or feel overwhelmed by choice, Mozo has done the hard work of shopping around for you with our 2020 Mozo Experts Choice Energy Awards.
“Energy tariffs can be complicated and there are several factors you have to consider when figuring out which deals are going to give you the best value,” Mozo’s expert judge, Peter Marshall said.
“So for the Mozo Experts Choice Awards, we do all those calculations for you and identify the plans that would be the cheapest for the majority of people.”
This year, our expert judges took a deep dive into energy markets across the country: NSW, Victoria, South Australia, the ACT and south-east Queensland. They poured hours into comparing 662 products from 43 different residential retailers in order to determine the best of the bunch.
And they found that in 2020, the little guys have won out over the big three retailers.
Marshall explained that because the smaller providers aren’t able to rely on brand recognition, they compete on pricing instead.
“We’ve been talking to a number of [these] retailers and they impress upon us just how few staff they run with, and yet they can offer the same services as the big guys at a much lower cost because of those lower overheads,” he said.
Read on to see which electricity companies snatched the spotlight with their award-winning plans:
This year, ReAmped Energy stole the show after being crowned Residential Electricity Retailer of the Year in our 2020 Mozo Experts Choice Awards. Their residential electricity plan, ReAmped Advance, snagged Electricity Awards for all three states in which it’s available: NSW, Queensland and South Australia.
Launched this year, ReAmped Advance works a little differently to what you might be familiar with: instead of paying your energy bill every quarter, customers are required to make fortnightly payments in advance, which helps with bill smoothing. In exchange for paying sooner, ReAmped rewards you with their best rates.
But that’s not the only secret behind ReAmped’s sharp pricing. Another edge they have over competitors is that they don’t rely on big discounts to attract customers. Rather, ReAmped keeps things simple by providing the lowest rates possible upfront.
It’s difficult enough being the best just once, let alone maintaining that lead for two consecutive years, but that’s exactly the feat Elysian Energy has achieved. For our 2020 Mozo Experts Choice Awards, Elysian defended their title as Victorian Residential Electricity Retailer of the Year, which they first claimed back in 2019.
And it’s no wonder why they came out on top once again. Elysian was the only electricity company to score a double whammy for Victoria, with their Resi Market Simple Plan winning 2020 Mozo Experts Choice Awards for best Electricity as well as best Solar-Friendly Electricity in Victoria.
As Australia’s only member-owned energy retailer, Powerclub is all about giving back to their members through affordable wholesale electricity prices. That promise really shone through in our 2020 Mozo Experts Choice Awards as Powerclub blew competitors out of the water with a triple win.
Powerclub Home snagged awards for best electricity plan in Victoria, South Australia and the ACT.
Powerclub isn’t your typical retailer either. For instance, they give all their customers access to a Powerbank account which smooths out electricity prices during market fluctuations by adding or deducting the difference. That way, you can always have the certainty of a fixed rate.
If you’re a NSW resident looking for an electricity company that’s big on both value and flexibility, then GloBird Energy is worth a look. This year, GloBird's GloSave plan impressed our expert judges so much that they took home a 2020 Mozo Experts Choice Award for best Electricity in NSW.
GloBird GloSave also comes with a bunch of other perks, including discounts if you pay on time via direct debit. Plus, there are no lock-in contracts, so you have the freedom to switch plans whenever you’d like.
They may be a new kid on the block, but Mojo Power has already made a big splash in the sunshine state with its All Day Breakfast electricity plan. The retailer was one of just two energy companies to win our 2020 Mozo Experts Choice Award for best Electricity in Queensland.
Interested in seeing which other electricity companies picked up awards this year? Head over to our 2020 Mozo Experts Choice Energy Awards page, where you’ll be able to find a full list of winners and read our methodology report.