AGL Set and Forget Plan
AGL is one of Australia’s biggest energy retailers, servicing most of the country with a comprehensive product line-up boasting generally competitive rates and large discounts. Its flagship electricity and gas plan is called ‘Set and Forget’, but should you set and forget? In this article, Canstar Blue explores the Set and Forget plan from AGL, explains what you can expect to pay and dives into the details regarding extra fees and charges that may apply.
What is AGL Set and Forget?
The AGL Set and Forget plan is a market offer which gives customers a sizeable discount on their AGL electricity or gas usage rates when they pay their monthly or quarterly bills by direct debit – hence the name ‘Set and Forget’. After setting up your account, you can forget about your power bills and let AGL handle them.
Set and Forget is available to electricity customers in Victoria, NSW, SA and south east QLD. Set and Forget is an ongoing contract with a 12 month benefit period, meaning customers stop receiving the discount a year after signing up, unless you negotiate another deal at the end of the term. Prices are also variable, so AGL can change your rates at any time with written notice.
AGL Set and Forget Prices
Set and Forget is typically AGL’s cheapest electricity plan. Its conditional discounts may appear relatively modest compared to some other retailers, but AGL’s base rates mean it remains a competitively offer in most areas. Set and Forget has a range of tariff options depending on the state.
Below we have calculated what average households can expect to pay with the AGL Set and Forget plan in their first year. These calculations are based on specific postcodes in each state, so be sure to use our energy comparison tool for a quote in your area.
Set and Forget Prices NSW
New South Wales Set and Forget customers receive a 28% direct debit discount and $50 credit on their first bill. Set and Forget is available on a single rate, two rate and time of use tariff with the option for a controlled load. The costs below are based on a typical five-person household.
Calculations based on a five-person household connected the Ausgrid network in Sydney on a single rate tariff. Prices will vary for those living on a different electricity network.
Set and Forget Prices Victoria
Victorian Set and Forget customers receive a 38% discount on electricity usage charges, as well as $50 credit on the first bill. This discount appears a lot smaller than some of the smaller retailers in Victoria that offer up to 45% off, but AGL remains competitively-priced. Set and Forget in Victoria is available on single rate, two rate, demand, time of use and flexible pricing tariffs.
Calculations based on a five-person household connected the Citipower network in Melbourne on a single rate tariff. Prices will vary for those living on a different electricity network.
Set and Forget Prices QLD
Queensland AGL Set and Forget customers receive $25 signup credit towards their first bill, plus a large 28% discount on their quarterly bill. Set and Forget in Queensland is available on a single rate, two rate and time of use tariff with the option for a controlled load.
Calculations based on a five-person household connected the Energex network in Brisbane on a single rate tariff. Prices will vary for those living on a different electricity network.
Set and Forget Prices SA
Despite being $1,000 more expensive in South Australia compared to Queensland, AGL Set and Forget is usually one of the cheapst deals in SA. It has a 14% direct debit discount and there’s no signup credit (unlike the other states). South Australian customers who also sign up to natural gas with AGL will also receive a bonus 2% “double-up” discount on electricity usage. Set and forget in South Australia is available on a single rate and two rate tariff.
Calculations based on a five-person household connected the SA Power network in Adelaide on a single rate tariff. Prices will vary for those living on a different electricity network.
You can see how the Set and Forget plan from AGL compares to other providers in your area via the links below. And also remember to use our comparison tool for a specific quote in your area.
- Cheapest Electricity NSW
- Cheapest Electricity Victoria
- Cheapest Electricity QLD
- Cheapest Electricity SA
Is Set and Forget a lock-in contract?
Set and Forget doesn’t lock customers into a fixed-term contract. There are also no termination/exit fees and customers are free to leave at any time. The Energy Price Fact Sheet describes the contract term as “ongoing with a one-year benefit period”. This means that you will continue to be billed until you opt out, however the benefit of the discount will only last one year – this does not mean you are stuck with a 12 month contract. It appears that AGL also reserves the right not to apply the full discount to the last billing period of your plan should you switch providers. This is fairly common for electricity retailers, but not all of them follow through with it.
Will Set and Forget rates change?
Set and Forget’s electricity rates are variable, meaning that AGL is free to change the rates at any time. However, AGL must give existing customers at least 10 days written notice before the changes can take effect, giving you plenty of time to shop around to see if you could get a better deal. This written notice will usually be provided via statement on your bill. Ordinarily, AGL will only change its rates once a year. In SA, QLD and NSW, this is around July 1. In Victoria, rates are usually changed on January 1.
Is Set and Forget available to customers with solar panels?
Customers with solar panels can sign up to Set and Forget and will receive AGL’s standard feed-in tariff.
- Vic: 11.3c/kWh
- SA: 16.3c/kWh
- Qld: 10.6c/kWh
- NSW: 11.1c/kWh
Are there GreenPower options?
All AGL products, including Set and Forget, come with GreenPower options. Customers can choose to have 10%, 20% or 100% of their electricity sourced from a certified generator at an additional cost. It does not mean that households receive green energy – just that AGL is committed to purchasing the equivalent amount of power from GreenPower renewable sources.
- 10%: $1.10/week
- 20%: $1.80/week
- 100%: 5.5c/kWh
AGL Set and Forget fees
AGL Set and Forget has no establishment or termination fees, nor are there any fees you wouldn’t expect to find with another retailer. Some fees to keep in mind are:
- Late payment fee
- Direct Debit dishonour fee
- Payment processing fee
- Counter and postal fees
Is AGL’s Set and Forget right for me?
Set and Forget is typically AGL’s cheapest deal, but it won’t necessarily be the cheapest on the market. The appeal of Set and Forget comes from the fact that you’re receiving reasonably-priced electricity with little effort involved – once you have set up a direct debit, in theory, you never need to think about your power bill again. If that sounds great, then Set and Forget might be for you. On the other hand, if you’re uncomfortable with your power company automatically taking money from your bank account, you can probably find a more suitable deal by shopping around.
The trap that Set and Forget customers need to watch out for is that the discount only applies for a year, after which you will be left paying significantly more. While energy retailers these days make an effort to inform customers if they’re no longer receiving a discount, you should still check your bill and regularly compare providers to ensure you’re getting the best deal on electricity.