Is a fixed energy plan the best option for your budget?

As steep electricity prices wreak havoc with Aussies’ household budgets, a number of energy providers like AGL and EnergyAustralia are looking at new ways to solve the problem, including offering prepaid or fixed rate energy plans.

But while these plans can be a handy tool for managing a budget, they’re not always the best value option available to households, says Mozo Director Kirsty Lamont.

For example, Mozo crunched the numbers* on one fixed rate plan from its database and found that while NSW and QLD families might save by opting for the fixed plan, a Victorian family could wind up paying $112 more per year on a fixed plan than on the cheapest plan available to them.

“It just goes to show that there’s no one size fits all solution when it comes to finding the best value. Shopping around for an energy plan that suits your lifestyle and budget should absolutely be a priority,” Lamont said.

If you’re after an excellent value energy plan to keep your electricity bills low, check out some of our Mozo Editor’s picks below:

These are just a few energy options, and finding the right choice depends on a lot of factors, such as your energy use and your address. So, if you haven’t found the right plan for your needs yet, be sure to head over to our Energy Cost Cruncher to find the best plans in your area.

*Cost estimates based on the average consumption for a 3 person household in each state. Correct as at 20/3/18.