Momentum Energy Review and Rates

Momentum Energy is an Australian company, owned and operated by Hydro Tasmania, which claims to be Australia’s largest producer of renewable electricity. Momentum Energy retails electricity to homes and businesses across New South Wales, the ACT, Victoria, South Australia and South East Queensland. It also sells natural gas to customers in Victoria.

Momentum Energy holds itself out as an energy company that’s passionate about renewable energy, ranking sixth in the Green Electricity Guide. It also says its customer service is second to none and that its energy rates are fair and transparent, without large, confusing discounts. Electricity providers in some states offer huge headline discounts of up to 40%, but these often just cover very high base rates. With Momentum Energy, it’s very much a case of what you see is what you get, with no discounts, just reasonably competitive rates.

Compare Momentum Energy Plans

Momentum Energy Plans

Momentum Energy wants its customers to feel good about energy, hence the name of its SmilePower market offers. However, SmilePower isn’t your standard electricity deal, it’s a promise by Momentum that its parent company, Hydro Tasmania, will contribute an equivalent amount of wind, solar and hydro renewable energy to the National Electricity Market that it bills its SmilePower customers.

SmilePower is offered to both residential and business customers. Momentum’s key products are ‘SmilePower’ and ‘SmilePower Flexi’, both of which are ongoing contracts with no exit fees. Customers in some areas may also receive $50 credit as a incentive to sign up. South East Queensland customers do not receive SmilePower, only Momentum’s standing offer.

Momentum Electricity Prices

Victoria

Here are the current prices on our database for a typical three person household on the Citipower network in Melbourne. Use our comparison tool for a specific quote in your area. This is a sponsored product.

Brand Features Benefit Period Annual Cost**
Momentum Energy Logo

SmilePower Flexi

  • No conditional discounts
OngoingBenefit Period $1,109.60Annual Cost** Go To Site
View all electricity plans listed on Canstar Blue

NSW

Here are the current prices on our database for a typical three person household on the Ausgrid network in Sydney. Use our comparison tool for a specific quote in your area. This is a sponsored product.

Brand Features Benefit Period Annual Cost**
Momentum Energy Logo

SmilePower Flexi

  • No conditional discounts
OngoingBenefit Period $1,548.41Annual Cost** Go To Site
View all electricity plans listed on Canstar Blue

South Australia

Here are the current prices on our database for a typical three person household on the SA Power network in Adelaide. Use our comparison tool for a specific quote in your area. This is a sponsored product.

Brand Features Benefit Period Annual Cost**
Momentum Energy Logo

SmilePower Flexi

  • No conditional discounts
OngoingBenefit Period $2,101.51Annual Cost** Go To Site
View all electricity plans listed on Canstar Blue

Momentum Energy Rates Victoria

In the most competitive energy market in Australia, Momentum Energy tries to stand out from the crowd as transparent and price-competitive. This is how its plans line up in Victoria:

  • SmilePower: This variable rate plan has a 1, 2 or 3 year contract period. There are no fees for leaving early, nor are there any conditional discounts.
  • SmilePower Flexi: This is also a variable rate plan with no added discounts. Momentum Energy is able to change the rates it charges customers, but unlike the other products, customers aren’t locked into a contract. Vic Customers who sign up online receive $50 credit towards their first bill.

Victorians can also purchase natural gas through Momentum Energy. Again, those who sign up online receive $50 credit. When it comes to electricity, the table below shows what three person households with average usage habits can expect to pay per year with Momentum. Our calculations are based on specific postcodes in each state. For a specific quote in your area, use our energy comparison tool above.

Electricity Provider^ Electricity Plan Discount Annual Cost*
Momentum Energy SmilePower Flexi 0% $1,109.60
Momentum Energy Standing Offer 0% $1,541.21

*Costs based on annual usage calculations using statistics from AER for a three person household on the Citipower network, August 2018.

^By clicking on a brand name, you may leave Canstar Blue and be taken to a referral partner to compare. You agree that Canstar Blue’s terms and conditions apply to this referral. If you click on a brand that is not a referral partner, you will be taken to a brand page on Canstar Blue.

These prices were based on Citipower network rates. The rates you receive may vary depending on your distribution network. See how Momentum Energy compares to other electricity providers in the state with our Victoria electricity price comparison. You’ll be interested to see that, despite its lack of discounts, Momentum works out cheaper than some retailers offering more than 30% off!

Momentum Energy Rates NSW

Momentum Energy is also a prominent competitor in the NSW electricity market. It offers the same two plan options as in Victoria, but the rates of course differ:

  • SmilePower: This plan is similar to the one offered in Victoria with a 1, 2 or 3 year fixed contract period. This is a variable rate contract with an ongoing benefit period. There are also no exit fees if customers wish to leave early.
  • SmilePower Flexi: This is also a variable rate contract, which means Momentum Energy can change your rates at any time with notice. There are no conditional discounts and customers aren’t locked into a contract. At the time of writing, NSW customers receive a bonus $50 signup credit.

So, how much can NSW electricity customers expect to pay per year with Momentum?

Electricity Provider^ Electricity Plan Discount Annual Cost*
Momentum Energy SmilePower Flexi 0% $1,548.41
Momentum Energy Standing Offer 0% $1,970.15

*Costs based on annual usage calculations using statistics from AER for a three person household on the Ausgrid network, August 2018.

^By clicking on a brand name, you may leave Canstar Blue and be taken to a referral partner to compare. You agree that Canstar Blue’s terms and conditions apply to this referral. If you click on a brand that is not a referral partner, you will be taken to a brand page on Canstar Blue.

These rates are for customers on the Ausgrid network, spanning Sydney and parts of northern NSW. Households on the Endeavour and Essential Energy networks will usually be charged different usage and supply rates. You can compare how Momentum Energy compares to other retailers in our NSW price comparison.

Momentum Energy Rates SA

Momentum Energy keeps its products consistent, offering the same deals in South Australia as it does in NSW and VIC.

  • SmilePower: This is an ongoing contract with no exit fee. Customers are promised competitive rates with no ‘confusing’ discount.
  • SmilePower Flexi: This plan has no contract period or exit fees, meaning you’re free to leave at any time. The downside is that the rates on this plan are slightly higher than the standard SmilePower offer.

Momentum Energy doesn’t provide discounts to customers, instead suggesting that its customers save through lower rates. To see if this holds up, we’ve calculated the expected annual cost below.

Electricity Provider^ Electricity Plan Discount Annual Cost*
Momentum Energy SmilePower Flexi 0% $2,101.51
Momentum Energy Standing Offer 0% $2,574.17

*Costs based on annual usage calculations using statistics from AER for a three person household on the SA Power Network, August 2018.

^By clicking on a brand name, you may leave Canstar Blue and be taken to a referral partner to compare. You agree that Canstar Blue’s terms and conditions apply to this referral. If you click on a brand that is not a referral partner, you will be taken to a brand page on Canstar Blue.

Canstar Blue’s SA price comparison table shows you how other Momentum Energy compares to other SA electricity retailers. This is based on particular assumptions that do not apply to all customers. You can use Canstar Blue’s electricity comparison tool near the top of this article to see how much Momentum Energy might cost you.

Queensland

Momentum Energy also sells electricity in South East Queensland. It only offers a standing offer however, which is a government regulated deal that almost always costs more than market offers.

Momentum Energy Natural Gas

Momentum Energy retails natural gas in Victoria, though not in any other state. Aptly named “Momentum Gas”, Momentum Energy offers natural gas customers an open contract with no credit card or exit fees. Similar to its electricity deals, Momentum Energy doesn’t offer any conditional customers, however customers that signup online will receive a $50 bonus. This product is offered on a block-rate tariff where the rate you pay for gas declines the more you use. Customers can also expect to pay slightly higher rates in ‘peak’ months from May to October.

GreenPower

GreenPower is a government-accredited renewable energy program. Customers can sign up to a GreenPower product with most retailers and have an equivalent portion of their electricity sourced from an accredited renewable generator in exchange for slightly higher rates. This does not mean that they use renewable energy at their home, but that their retailer commits to sourcing more of it for the National Grid on their behalf. Only customers on Momentum Energy’s standard contracts can include GreenPower.

What’s the difference between GreenPower and SmilePower?

Because Hydro Tasmania’s hydro generators were built before 1997, it does not qualify as an accredited renewable generator for the purposes of the GreenPower program. In turn, Momentum Energy introduced SmilePower to operate as an alternative to GreenPower, though they’re both designed to encourage renewable energy generation.

While Momentum Energy is undoubtedly dedicated to sourcing renewable energy, it still sells electricity from the National Electricity Market like all other retailers. Momentum found itself in hot water in 2016 when the Australian Competition and Consumer Commission (ACCC) raised concerns about its advertising which was deemed to suggest that Momentum actually sold renewable energy.

Is Momentum Energy right for me?

Momentum Energy could be a good choice for anyone passionate about renewable energy and minimising their carbon footprint. While Momentum continues to retail electricity sourced from fossil fuels like all other retailers, it clearly has a vision to help lead Australia’s push towards greater energy sustainability.

It seems that what you see is what you get with Momentum Energy. If you find discounts confusing, or you struggle to comply with discount requirements, then you might find Momentum Energy’s way of doing things to be an attractive proposition. Unfortunately, according to Canstar Blue’s calculations, Momentum’s lack of discounts contribute to it being a comparatively expensive electricity retailer in some states.

To summarise. If you’re looking for a retailer with great service and a passion for renewables, Momentum Energy is worthy of consideration. If you simply want the cheapest deal, then consider what other options might be available. Be sure to compare offers from a wide range of retailers before making a decision.

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What do customers think about Momentum Energy?

In 2017, Victorian electricity customers gave Momentum Energy 4 out of 5 stars for Overall Customer Satisfaction in our electricity provider ratings.

Momentum Energy Electricity Victoria

Canstar Blue
Rating:
Award: Overall Satisfaction
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