After the massive electricity price hikes last month, there was plenty of news around how Aussies are paying some of the highest energy bills in the world. In fact, the numbers were downright outrageous with reports showing electricity costs in Australia have increased by a whopping 119% over the last 10 years.
Our own calculations revealed customers in SA and NSW have been hit the hardest after the July 1 electricity hikes, with an annual price rise of around $300 and $280 respectively for a 3-person household.
Pretty pricey right? Well, the good news is, right now in the energy market providers are vying for your business, introducing a great range of discount offers to tempt you to make the switch. So if you haven't changed providers in a while, this could be your chance to save yourself some considerable coin.
Without further ado, here are some of the top energy offers available now (for scenarios sake, we've used cost estimates for an average 3-person household):
Let's start off with SA, which is known for having Australia’s highest electricity bills. Here are some of your best energy options, assuming you live in the capital of Adelaide.
Dodo Power & Gas Market Offer. For an instant discount on your energy bill, check out Dodo’s plan that offers to slash $100 off your first electricity bill. And with a 25% discount off usage charges for simply paying your bills on time, this is one of the most cost effective plans around.
Quarterly cost estimate: $431
Alinta Energy Fair Deal 20. Here’s another deal that will save you some valuable cash (20% off your usage charges to be exact) if you diligently pay your energy bills on time.
Quarterly cost estimate: $516
Lumo Energy Lumo Advantage. Want an energy plan that also racks up rewards points? Well then this is the plan for you because it comes with Lumo’s Ameego Program giving you access to heaps of special offers like discounted movie tickets and exclusive deals on restaurants and cafes. Plus on top of this generous rewards program, you’ll receive a 12% pay on time discount off usage and supply charges.
Quarterly cost estimate: $533
Next up is NSW, which has taken a huge blow after the recent electricity price hike with bills rising by around 10% on average. If you live in Sydney, consider these options to soften the bill shock.
Red Energy Living Energy Saver. With some of the lowest usage and supply charges in the state, this is one of the most cost effective energy deals for Sydneysiders. Plus the plan comes with a 10% discount for paying your bills on time.
Quarterly cost estimate: $389
Dodo Power & Gas Market Offer. Dodo’s $100 credit on your first electricity bill is one tempting offer for those after a quick bill cut. And if you regularly pay your bills on time, you’ll even get a 20% discount off usage charges.
Quarterly cost estimate: $392
Powershop Online Saver. Want to switch to a provider that cares about the environment and also save yourself big bucks on your electricity bill? In that case, Powershop may be your perfect match! Rated as Australia's greenest electricity provider, and currently offering a 4% discount off usage and supply charges plus a 14% discount when you pay your bills online, this is a pretty sweet deal.
Quarterly cost estimate: $415
The Sunshine State may have seen a relatively small surge in electricity prices this time round but that doesn’t mean Queenslanders are paying any less to keep the lights on. In fact, Australian Bureau of Statistics’ data shows power costs in the state have gone up by 151% during a decade. Here are some energy plans that a family of three in Brisbane can explore to save some cash:
Dodo Power & Gas Market Offer. According to our online energy calculator, this is one of the cheapest energy plans for Brissy at the moment. Best part about the offer? The $100 credit you get on your first bill! But that’s not all, it also gets you a 15% discount off usage charges for just paying your bills on time.
Quarterly cost estimate: $410
Lumo Energy Lumo Advantage. Competitive pay on time discount? Check. Rewards points linked with your energy account? Check. Yep, with a 10% discount for paying your bills on time and the Lumo Ameego plan giving you access to exclusive discounts on movie tickets and travel deals, this sure sounds like a winning deal for your home.
Quarterly cost estimate: $414
Diamond Energy Retail Supply Offer. If you want to do your bit for the planet and ensure you’re only using electricity sourced from renewable sources, take a look at Diamond Energy, the greenest provider in Queensland according to the Green Electricity Guide. Plus, you’ll get a 7% pay on time discount off usage and supply charges and an additional 3% discount if you make your bill payments via direct debit.
Quarterly cost estimate: $443
Unlike SA, NSW and QLD, VIC goes through an energy review cycle at the beginning of every year in January. We looked at some of the top deals for Melburnians looking to shop around before the next electricity price update.
Dodo Power & Gas Market Offer. One of the cheapest plans in Melbourne, this gets you $100 off your first bill and a generous 30% discount off usage charges for paying your bills on time. Who knew being punctual with your bill payments could be so rewarding!
Quarterly cost estimate: $271
Powershop Online Saver. If you’re after an innovative energy company that’s friendly to both the environment as well as your hip pocket, then Powershop may just tick all the boxes for you. If you sign up for the online saver now, you’ll receive an 18% guaranteed discount off usage and supply charges plus a 16% discount when you pay online. Sounds like a win-win situation!
Quarterly cost estimate: $274
Lumo Energy Lumo Advantage Premium Package. Do you enjoy the convenience of online payments? Are you happy to sign up for a direct debit account so you never miss a deadline? Then you’ll be happy to hear that Lumo offers a massive 33% discount off usage and supply charges if you pay your bills on time via direct debit. What’s more, it also gives you access to Lumo Ameego - the retailer’s online rewards program.
Quarterly cost estimate: $277
Ready to switch to a cheaper deal? Go ahead and kick off the process now! The best part is, you can do it online from the comfort of your couch and once you’ve picked a provider, it will only take a few minutes to sign up for a new account. And no, you don’t need to inform your existing retailer - your new provider will do that for you.
Just remember that power plans can vary based on things like where you live and who your distributor is. So if you’re looking for the cheapest energy plan in your area, head over to our online electricity comparison tool, plug in your postcode, and we’ll list some of the top offers for your home right away.