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 small businesses across New South Wales, Victoria and South Australia. 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 latest Green Electricity Guide. It also says its customer service is second to none and that its energy rates are fair and transparent. While some retailers previously offered ludicrous discounts of up to 47% off, covering up excessively high bases rates, Momentum Energy always played it pretty straight, with competitive pricing and no dodgy deals. However, after significant changes to the energy industry which have seen many more retailers take the ‘simplified’ approach to energy retail, it could be argued that Momentum’s once unique selling point is not so unique any more. But can it still offer you a hassle-free, competitive deal? Read on to find out.

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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 small business customers. Momentum’s key product is the ‘SmilePower Flexi’, which comes on an ongoing contract with no exit fees. Customers in some areas may also receive credit as an incentive to sign up.

Victorian solar customers may be interested in Momentum’s solar-specific product, Solar Step-up, which offers the retailer’s highest feed-in tariff. Alternatively, the retailer offers a plan tailored to renters in the form of its Move Mate plan in Victoria. Read on for further details.

Momentum Electricity Prices

Victoria

Here are the Momentum Energy plans on our database for Victoria. These are products from a referral partner†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. 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.

NSW

Here are the Momentum Energy plans on our database for NSW. This is a product from a referral partner†. 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 for a residential customer on a single rate tariff. 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.

South Australia

Here are the Momentum Energy plans on our database for South Australia. This is a product from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. 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.

Momentum Electricity Rates

We know Momentum Energy likes to keep things relatively simple, but what does simplicity cost? Below, we break down the specific details you need to know about.

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:

  • Self Serve: This plan requires online sign-up as well as for customers to pay their bills by direct debit. Not only that, but in order to be eligible, customers must also be comfortable with e-billing and e-communication.
  • SmilePower Flexi: This is a variable rate plan with no discounts. Momentum Energy is able to change the rates it charges, but customers aren’t locked into a contract. Victorian customers who sign up online may receive credit towards their first bill.
  • Solar Step-up: This is Momentum’s solar-specific product for Victoria, bringing similar pricing to its SmilePower Flexi plan, but with the benefit of a higher feed-in tariff (12c vs 13.5c/kWh).
  • Move Mate: This is Momentum’s electricity offer for customers who rent their home and often move. As switching your power to another property often comes at a cost, this plan waives the move in fees (connection/special meter read).

In the table below, we show Momentum Energy prices on the Citipower network in Melbourne. Plans are listed from the lowest priced estimate first. See here for information on the VDO, which in this comparison assumes general energy usage of 4000kWh/year, meaning the VDO is $1,334/year for a residential customer on a single rate tariff. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from VDO› Conditional Discounts Price Estimate˜
Momentum Energy Self Serve 11% Less Than VDO No conditional discounts $1,189
Momentum Energy SmilePower Flexi Equal to VDO No conditional discounts $1,332
Momentum Energy Move Mate  10% More Than VDO No conditional discounts $1,465
Energy Fact Sheets

˜Price assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditions discounts that may be available. Pricing based on Citipower network in Melbourne, but prices differ between distribution areas. November 2019.

See how Momentum Energy compares to other electricity providers in the state with our Victoria electricity price comparison.

Momentum Energy Rates NSW

Momentum Energy is also a prominent competitor in the NSW electricity market, although only offers its flagship product in the state:

  • SmilePower Flexi: This is 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. NSW customers may receive sign-up credit.

In the table below, we show Momentum Energy prices on the Ausgrid network in Sydney. Plans are 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 for a residential customer on a single rate tariff. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Momentum Energy SmilePower Flexi 12% Less Than Reference Price No conditional discounts $1,291
Basic Plan Information Documents

*Price assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditions discounts that may be available. Pricing based on Ausgrid network in Sydney, but prices differ between distribution areas. November 2019.

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 basic deal, the SmilePower Flexi, in South Australia.

  • SmilePower Flexi: This plan has no contract period or exit fees, meaning you’re free to leave at any time. However, it’s a variable rate plan, so pricing could change at the retailer’s discretion.

In the table below, we show Momentum Energy prices on the SA Power network in Adelaide. Plans are 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 4000kWh/year, meaning the Reference Price is $1,941/year for a residential customer on a single rate tariff. Use our comparison tool for a specific comparison in your area.

Electricity Provider Electricity Plan Difference from Reference Price^ Conditional Discounts Price Estimate*
Momentum Energy SmilePower Flexi 9% Less Than Reference Price No conditional discounts $1,769
Basic Plan Information Documents

*Price assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditions discounts that may be available. Pricing based on SA Power network in Adelaide, but prices differ between distribution areas. November 2019.

Canstar Blue’s SA price comparison table shows you how other Momentum Energy compares to other SA electricity retailers.

Solar Power with Momentum Energy

For customers with solar systems, Momentum Energy offers reasonable feed-in tariffs, however in comparison to other retailers, there may be better solar deals on the market. Customers in Victoria have access to the ‘Solar Step-Up’ plan, offering a generous feed-in tariff of 13.5c/kWh. Unfortunately, customers in New South Wales will have to settle for a feed-in tariff of 7c/kWh.

The easiest way to find the best deal on solar is by comparing your options.

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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 sign-up online may 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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How do customers rate Momentum Energy?

In 2019, Victorian electricity customers gave Momentum Energy 4 out of 5 stars for overall satisfaction in our customer ratings report.

Momentum Energy Electricity Victoria

Canstar Blue
Rating:
Award: Overall Satisfaction

Momentum Energy Facts

Momentum Energy is known for its simplified energy approach, cutting out conditional electricity bill discounts, and instead giving its customers low rates to begin with. While you may know a thing or two about its plans, what do you know about the company?

About Momentum Energy

Momentum Energy claims to be an 100% Australian energy company, owned by Hydro Tasmania, Australia’s largest renewable energy generation company. It services households in NSW, QLD, VIC, and SA with electricity, with Victorians being the only state able to purchase natural gas through the retailer. It has headquarters in Melbourne, Victoria.

Momentum Energy Services

Here’s what Momentum Energy is selling, with information about where these services are available:

  • Electricity – VIC, NSW, QLD, SA
  • Natural Gas – VIC

Momentum Energy Generation

Whilst Momentum Energy itself doesn’t have an individual renewable generation portfolio, its parent company, Hydro Tasmania, has a few to speak for. They include:

  • Hydropower (30)
  • Wind Power (2)
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