Compare Cheapest Electricity Plans in NSW

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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 enjoy making 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 jump into our comparison tool to get a specific quote in your area or read on for details of the cheapest prices on our database.

Electricity Prices NSW

• NSW Sponsored Plans
• NSW Plans

Here are some sponsored 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 energy 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 and to see other products in our database that may be available. 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.

Sponsored Products

Based on the general usage^ in the Ausgrid network the AER reference price is: $1,393 / year

The One Plan Basic Plan Information No transaction or exit fees 100% Carbon Neutral (incl. 10% GreenPower) Bill smoothing for 12 equal payments/year

28% Less than reference price

$1,004 Price/year (estimated)

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Homedeal Basic Plan Information Flexible payment options Access rewards shop discounts No lock-in contract and no exit fees

25% Less than reference price

$1,044 Price/year (estimated)

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Market Offer Basic Plan Information Save up to $10/mth when you bundle energy & internet Flexible payment options Certain Areas Only. T&Cs Apply

18% Less than reference price

$1,141 Price/year (estimated)

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View all electricity plans listed on Canstar Blue

*^View important information

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 for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. 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.

Compare Electricity Plans 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 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 Reference Price, which assumes general energy usage of 3900kWh/year, meaning the Reference Price is $1,393/year for a residential customer on a single rate tariff. 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.

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*Price assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Estimated price includes any conditional discounts that may be available. Pricing based on Ausgrid network in Sydney, but prices differ between distribution areas. May 2022.

^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 cost comparison, we see that OVO Energy, Tango Energy and Nectr 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 check 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.

Best-Rated Electricity Providers NSW

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. These price comparisons below assume general energy usage of 3900kWh/year, meaning the Reference Price is $1,393/year for a residential customer on a single rate tariff. Use our comparison tool for a specific comparison.

The One Plan (OVO Energy)

With OVO Energy’s flagship offer, The One Plan, customers can cash in on cheap and competitive variable rates. This offer also comes with 100% carbon neutral energy and 10% GreenPower included in the price. Plus, with OVO Energy’s bill smoothing, customers can expect to pay the same amount each month, on this plan, with any credits on your account earning you 3% interest. A $75 sign-up credit to be paid over 12 monthly installments is also currently available on this offer.

Home Select (Tango Energy)

Tango Energy is serving up a simple, fixed rate rate offer with no exit fees or conditional discounts to customers in New South Wales. It comes with a 12-month benefit period and monthly billing options are available.

100% Clean (Nectr)

Looking for an electricity plan that comes with fixed rates and cleaner energy? On this Nectr plan, you can expect competitive fixed rates for 12 months, no exit fees and 100 per cent carbon neutral power at no extra cost.

Types of Electricity 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.

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*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. May 2022.

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 Red Energy’s Qantas Frequent Flyer points.

• Expert Picks: Best Value Energy Plans in NSW

NSW Electricity Rates Example

Electricity rates in NSW change frequently, meaning annual energy bills can vary by hundreds of dollars per year depending on the rates you pay. Based on the winner of our electricity customer satisfaction ratings, here is an example of rates in NSW.

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.

Read more: What’s cheaper: Electricity or Gas?

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. For the eighth 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.

About the author of this page

This page was written and is regularly updated by Canstar Blue’s Energy Editor, Jared Mullane. He’s an expert in all things utilities, including electricity, gas and water, helping to make complicated subjects easier to understand for consumers. A trained journalist, Jared is usually one of the first to break energy-related news, whether it’s the latest changes in the industry, price movements, or the next best deal you need to know about.

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