Wouldn’t it be great if the details of electricity plans were easy to understand and you could see an accurate comparison of costs before signing up with a new provider? At Canstar Blue, we like to make sense of the complicated, and in this report we show consumers in New South Wales what they can expect to pay with the state’s many energy companies. No gimmicks here – just a comprehensive list of providers and plans to help you find the best deal for your needs.
Based on the cents per kWh usage costs and daily supply charges of the energy companies in this comparison, we can show households connected to the Ausgrid network in Sydney and the surrounding areas (including Newcastle and the Central Coast) where they can find some of the cheapest electricity prices, compared to the Reference Price – the regulated price that retailers must compare their plans to. This makes comparing plans and finding the best deal for you even than ever before.
The Ausgrid network covers large parts of inner, northern and eastern metropolitan Sydney, plus other surrounding areas. Costs for the other distribution networks of NSW will differ slightly, so just into our comparison tool to get a specific quote in your area. Read on for details of the cheapest prices on our database.
Compare NSW Energy Plans
Cheap Deals on our Database
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Which energy provider is cheapest in NSW?
There is often a perception that electricity prices vary little between different providers, but as you will see from the comparison below, they certainly can do! So, where can you find some of the cheapest electricity plans in NSW? The table below shows the annual costs of the providers on our database. We show one product per retailer, listed from the lowest priced estimate first. See here for information on the AER Reference Price, which in this comparison assumes general energy usage of 3900kWh/year, meaning the Reference Price is $1,467/year. Use our comparison tool for a specific comparison. Our database may not cover all deals available in your area, and please check retailer websites for up to date information.
|Electricity Provider||Electricity Plan||Difference from Reference Price^||Conditional Discounts||Price Estimate*|
|ReAmped Energy||ReAmped Handshake||19% Less Than Reference Price||No conditional discounts||$1,188
|Powerclub||Powerbank Home Flat||18% Less Than Reference Price||No conditional discounts||$1,197
|AGL||Essentials Saver||12% Less Than Reference Price||$75 bill credit for online sign-up||$1,213incl. conditional discount
|Kogan Energy||Market Offer||17% Less Than Reference Price||No conditional discounts||$1,222
|Simply Energy||Simply NRMA||16% Less Than Reference Price||No conditional discounts||$1,231
|Sumo||Sumo Select||Equal To Reference Price||15% Less Than Reference Price for Paying on Time||$1,246incl. conditional discount
|Powershop||Shopper Market Offer||Equal To Reference Price||15% Less Than Reference Price for Pre-Payment||$1,247incl. conditional discount
|Discover Energy||Ultimate Offer||15% Less Than Reference Price||No conditional discounts||$1,249
|Energy Locals||Online Saver||8% Less Than Reference Price||$84/year bonus credit for paying bills on time||$1,268incl. conditional discount
|EnergyAustralia||Total Plan Home||13% Less Than Reference Price||No conditional discounts||$1,276
|Origin Energy||Max Saver – Online Special||13% Less Than Reference Price||No conditional discounts||$1,276
|Future X Power||Flexi Saver||11% More Than Reference Price||Reduces to 12% Less Than Reference Price for Paying on Time||$1,284incl. conditional discount
|Momentum Energy||SmilePower Flexi||12% Less Than Reference Price||No conditional discounts||$1,291
|Powerdirect||Discount Saver||11% Less Than Reference Price||No conditional discounts||$1,302
|Enova Energy||Community Plus||9% Less Than Reference Price||Reduces to 11% Less Than Reference Price for Paying on Time||$1,308incl. conditional discount
|Alinta Energy||No Fuss||11% Less Than Reference Price||No conditional discounts||$1,311
|Red Energy||Living Energy Saver||9% Less Than Reference Price||No conditional discounts||$1,332
|CovaU||Freedom||23% More Than Reference Price||Reduces to 8% Less Than Reference Price for Paying on Time||$1,352incl. conditional discount|
|Click Energy||Click Banksia||7% Less Than Reference Price||No conditional discounts||$1,364
|1st Energy||1st Saver||Equal to Reference Price||7% Less Than Reference Price for Paying on Time||$1,370incl. conditional discount
|Diamond Energy||Diamond Power||5% More Than Reference Price||Reduces to 5% Less Than Reference Price for Paying on Time by Direct Debit||$1,388incl. conditional discount|
|Commander||Market Offer||4% Less Than Reference Price||No conditional discounts||$1,411
|Dodo Power & Gas||Market Offer||4% Less Than Reference Price||No conditional discounts||$1,411
|QEnergy||Home Your Way||Equal to Reference Price||No conditional discounts
|Amaysim Energy||Default Market Offer||1% More Than Reference Price||No conditional discounts||$1,467
|Pooled Energy||Market Offer||Equal To Reference Price||No conditional discounts||$1,467
|DC Power Co||Market Offer||4% More Than Reference Price||No conditional discounts||$1,531
|Mojo Power||Energy Pass||12% More Than Reference Price||Price includes $480/year bill credit||$1,637
|Basic Plan Information Documents|
*Price assumes general energy usage of 3900kWh/year. Estimated price includes any conditions discounts that may be available. Pricing based on Ausgrid network in Sydney, but prices differ between distribution areas. October 2019.
^The Reference Price is set by the Australian Energy Regulator (AER) for a financial year in relation to electricity supply to residential customers in the distribution region and is based on an assumed annual usage amount. Any difference between the reference price and the unconditional price of a plan is expressed as a percentage more or less than the reference price. The terms of any conditional discounts are shown, along with any further difference between the reference price and the discount applied if a condition is met, expressed as a percentage more or less than the reference price.
Based on this specific cost comparison, we see that ReAmped Energy, Powerclub and AGL currently offer the cheapest electricity prices in Sydney, after any conditional discounts have been applied. However, it’s worth pointing out that energy prices can change regularly, so it’s worth checking back every few weeks to see what’s changed. This table is updated as soon as we’re made aware of any changes.
These cost calculations are based on one postcode on the Ausgrid network in NSW. To find specific quotes for your suburb, use our comparison tool above.
About the 3 cheapest deals in NSW
Now that the above table has shed some light onto what you can expect to pay for electricity from each provider, it’s time to find out more about the three cheapest plans available in NSW. The tables below show the annual costs of the three cheapest providers on our database. We show one product per retailer, listed from the lowest priced estimate first. See here for information on the AER Reference Price, which in this comparison assumes general energy usage of 3900kWh/year, meaning the Reference Price is $1,467/year. Use our comparison tool for a specific comparison.
ReAmped Handshake (ReAmped Energy)
ReAmped Energy has made a big impression in a short space of time, not afraid to declare its intention to be the cheapest provider around, including in NSW where it currently offers a hugely competitive but incredibly basic deal. The ‘ReAmped Handshake’ has no conditional discounts or lock-in contract and is just about as simple a plan as you can expect to find. This provider urges online sign-up and account management.
Powerbank Home Flat (Powerclub)
Powerclub’s Powerbank Home Flat aspires to give you access to published wholesale rates, which are updated every half hour. On this plan, you’ll pay a $39 annual fee to access these rates as well as a small daily charge. Powerclub has implemented the Powerbank to ensure coverage when wholesale prices get unpredictable, which is essentially a deposit you pay that you should get back if you choose to leave this plan.
Essentials Saver (AGL)
The AGL Essential Saver is a variable rate plan that comes with a bill credit when you sign up online, to the value of $75 off your first bill.
Cheapest big three, no discount, discounted, variable and fixed rate plans in NSW
We’ve shown you a table comparing the cheapest electricity plans in NSW, but what if you’re looking for something specific? The table below shows the cheapest plans on our database for customers looking for a particular product type, including plans from the big three, no discount plans, plans with discounts, plus variable and fixed rate plans. Once again, we show prices compared to the Reference Price.
|Product Category||Electricity Provider & Plan||Difference from Reference Price^||Conditional Discounts||Price Estimate*|
|Cheapest Big 3||AGL, Essentials Saver||12% Less Than Reference Price||$75 bill credit for online sign-up||$1,213incl. conditional discount|
|Cheapest No Discount||ReAmped Energy, ReAmped Handshake||19% Less Than Reference Price||No conditional discounts||$1,188
|Cheapest Discounted||Sumo, Sumo Select||Equal To Reference Price||15% Less Than Reference Price for Paying on Time||$1,246incl. conditional discount
|Cheapest Variable Rate||AGL, Essentials Saver||12% Less Than Reference Price||$75 bill credit for online sign-up||$1,213incl. conditional discount
|Cheapest Fixed Rate||EnergyAustralia, Total Plan Home||13% Less Than Reference Price||No conditional discounts||$1,276
|Basic Plan Information Documents|
*Price assumes general energy usage of 3900kWh/year. Estimated price includes any conditions discounts that may be available. Pricing based on Ausgrid network in Sydney, but prices differ between distribution areas. September 2019.
What you need to know about energy discounts
It’s important to know about energy discounts when comparing plans. While they used to be the main marketing tool of the power companies, regulatory changes to the industry in July 2019 saw many of them move away from discounts to instead focus on offering lower base prices. That said, some retailers still offer discounts and these can be a useful way to help lower your overall energy costs, provided you meet any conditions that apply, such as paying on time or by direct debit. In most cases, discounts apply to your entire bill, not just usage or supply charges.
While some energy discounts are conditional, some retailers will add unconditional discounts to their plans instead. This means you’ll get the benefit of the discount regardless of how or when you pay your bills. What’s the point of an unconditional discount you ask? Good question!
Fixed vs variable rate plans
Most of the electricity plans listed above are variable rate plans, meaning the prices you are charged can change at the retailer’s discretion. Some energy providers also offer fixed rate plans, whereby you can lock in competitive prices now, with the aim of saving in the long run. Fixed rate plans are usually only offered by the big three power companies – AGL, Origin and EnergyAustralia – but there are exceptions. Not all fixed rate plans on our database are included on this page, so head over to our fixed rate energy plans review for more.
Check the benefit period
While energy discounts can significantly reduce your overall power costs. it’s hugely important that you understand the benefit term of the plan you’re signing up to. The benefit term is the period of time that the discount on your energy plan applies. In most cases, the benefit term will be just 12 months, although some providers offer discounts over two years, or even discounts that are ongoing. After the benefit period ends, your discount could disappear and you’ll be left paying the non-discount price for the electricity you use.
Benefit periods are also important when it comes to fixed rate energy plans given that retailers will usually only lock your rates in for one or two years at the most. After this time, you can expect your rates to change, so you won’t want to entirely set and forget.
Other sign-up incentives
You should also take into consideration any additional sign-up incentives offered by the energy companies. These incentives should not dictate your final decision, but they can be a useful point of difference if you’re comparing similar products. These incentives could include a rebate on your first bill, ongoing bill credits, vouchers for particular retail stores, or even things like movie tickets. Some retailers also have specific partnerships that could benefit customers, such as AGL offering flybuys points for every dollar spent on energy, and Red Energy giving out Qantas Frequent Flyer points.
NSW Electricity Rates Example
Electricity rates change frequently, and in NSW annual energy bills can vary by hundreds of dollars for the same estimated usage figures. Based on the winner of our 2019 electricity customer satisfaction ratings, we’ve given you a closer look at what you can expect to pay with an electricity provider in NSW.
|Plan||Living Energy Saver|
|Usage Rate (per kWh)||25.60¢/kWh|
|Supply Rate (cents per day)||88.11¢/day|
|Difference from Reference Price||9% Less Than Reference Price|
|Conditional Discounts||No conditional discounts|
|Estimated Annual Cost||$1,332|
Questions you should ask:
To summarise, here are some questions you should ask any prospective energy provider before signing up:
- Are you offering me the plan with the lowest usage rates?
- How much are the supply charges and how do they compare to other plans?
- How does the plan compare to the Reference Price?
- Is there a contract? How long is it? Are there any exit fees if I leave?
- What discount can I get off my bill and how do I quality for the discount?
- What is the benefit term of the discount? Will it disappear after a year?
- Can you offer me any additional sign-up incentives?
Even if you’re not switching, these are still good questions to ask your existing energy provider to make sure you’re currently getting the best deal possible.
Which energy provider is rated highest in NSW?
For many households, the cost of energy will be the most important factor when signing up to a new plan. However, other considerations, particularly customer service, are also worth giving some thought. Everyone wants low prices, but at what cost? This is why Canstar Blue annually surveys electricity bill-payers across NSW to find out how they rate their provider based on a number of variables, including customer service, bill clarity and value for money. In 2019, and for the fifth year in a row, Red Energy is the highest-rated electricity provider in NSW for overall customer satisfaction.
While this price comparison report looks at the biggest electricity providers in NSW, it’s important to know there might be others available in your specific area. Competition between the retailers is intense, which is great news for consumers looking to reduce their costs. There are opportunities to save money, provided you are willing to look.
Switching electricity providers is clearly not a priority for every household – some will be genuinely happy where they are, and that’s great – but if there is one message to take away from this report, it’s that regularly comparing plans is a good idea if you want to reduce the amount you pay for electricity. You might just find a good deal.