If you’ve opened your energy bill recently and noticed your due amount steadily creeping upwards, then the following stats won’t come as a surprise - Aussies living in most states are paying almost twice as much per kilowatt to keep the lights on compared to ten years ago, which is well above inflation figures.
This is one reason why the government has authorised an ACCC investigation into the electricity market to keep the industry in line. While this news means your energy bills could potentially come down, the consumer watchdog won’t publish its findings until June next year.
So in the meantime we suggest you take matters into your own hands and unplug your current provider if they’re overcharging you, and spark up a relationship with a new energy provider. Here are the cheapest deals* from our database...
*We based our estimates on the assumption that you pay your bills on time and you have three people living in your home.
While you may have seen your bills rise by as much as 9.70% in the January 1 Victorian energy price hikes, the good news is compared to other deregulated markets like NSW, SA and QLD, our database shows the cheapest energy deals can actually be found in Victoria. Check them out:
Globird Energy GloSave. This up and coming independent energy retailer has a lot to offer its Victorian customers. Apart from the fact that the plans are cheap, you’ll end up shaving 34% off your bills when you pay on time and benefit from a 1% discount for each direct debit payment.
Quarterly cost estimate (with discounts): $328
QEnergy Freedom Home. Unlike some energy plans where fluctuating energy prices can cause the odd bill shock now and then, QEnergy allows you to lock in a competitively low, flat monthly rate for 12 months.
Quarterly cost estimate (with discounts): $343
Simply Energy Simply Plus. Staying true to its name, Simply Energy sticks to the basics when it comes to supplying Victorians with energy. And if you pay your dues on time you’ll qualify for a 35% discount.
Quarterly cost estimate (with discounts): $345
The second most affordable state when it comes to the price of energy is New South Wales, where some of the smaller providers are keeping costs down:
Alinta Energy Fair Deal. One of the more recent providers to enter the market, Alinta Energy, will charge you 23% less when you pay by the due date.
Quarterly cost estimate (with discounts): $424
Dodo Power & Gas Market Offer. When you pay on time with Dodo, your energy bill will get reduced by a whopping 20%.
Quarterly cost estimate (with discounts): $434
Mojo Power Basic EnergyPass. You won’t get discount envy if you’re with Mojo Power, as every customer is charged at the same rate (according to the area they live in). Keep in mind that there’s an annual or monthly subscription fee involved.
Quarterly cost estimate (with discounts): $444
Living in the tropical state of Queensland? While energy plans don’t come cheap, it does pay to shop around for the cheapest quarterly option.
Energy Australia Flexi Saver. If you like the idea of opting for a well known and trusted energy provider with a huge customer base, then Energy Australia could be for you. And with convenient features such as the ability to take your energy plan with you when you move house, the Flexi Saver has a lot going for it too. Not to mention your bill will get reduced by 16% if you pay on time.
Quarterly cost estimate (with discounts): $430
Red Energy Easy Saver. The second best energy deal offered in the sunshine state is the Easy Saver by Red Energy. The 100% Aussie owned provider will cut down you bill by 10% each time you pay it by the due date.
Quarterly cost estimate (with discounts): $432
Dodo Power & Gas Market Offer. Last but not least is Dodo, whose Market Offer plan boasts a 15% pay on time discount for diligent energy consumers.
Quarterly cost estimate (with discounts): $433
Living in the most expensive state for energy, makes it all the more important to ensure you're on the cheapest plan. We've done the hard work for you and pulled out some of the best energy deals available now for South Australians:
Dodo Power & Gas Market Offer. This top notch deal by Dodo will give you a slightly higher pay on time discount than Victoria’s at 25%.
Quarterly cost estimate (with discounts): $516
Powerdirect Market Offer. Have you heard of Powerdirect? The provider’s backed by AGL and its quarterly charges sit on par with Dodo’s at $516. That’s of course if you stick to your billing schedule and score that 18% pay on time discount.
Quarterly cost estimate (with discounts): $516
Alinta Energy Fair Deal. Next up is Alinta Energy, one of the newer energy retailers in the market where your bills are reduced by 32% when you pay by the due date.
Quarterly cost estimate (with discounts): $527