article background

The cheapest electricity plans available right now

The first of July was an important day in Australians’ financial affairs – not just because it was the start of the new financial year but because default energy prices changed for deregulated states

The Reference Price, also known as the Default Market Offer, in New South Wales, south-east Queensland and South Australia, as well as the Victorian Default Offer (VDO) in Victoria, increased significantly on July 1, meaning that many households may soon see their energy bills surge. 

Not only will these regulated increases impact customers still paying default prices, but a large portion of bill-payers on more competitive market offers could also see their own power plans rise, as those plans continue to be driven higher by soaring wholesale electricity prices. 

But while it might seem there’s only doom and gloom around this year’s July 1 price changes, a few cheaper energy deals have managed to creep through in each state, offering customers a decent saving on the relevant Reference Price or VDO and in some cases, a value-add incentive such as a bill credit or access to specialty rewards programs. 

So which retailers are offering these competitive plans post-July 1? We’ve listed the top three cheapest offers in each state or city below. But be warned – these deals may not be here tomorrow! 

Cheapest Electricity Deals in Sydney

Below are three of the cheapest plans from providers in Sydney at the time of publication following the Reference Price change on July 1, 2022. Keep in mind these deals are for residential customers on the Ausgrid network connected to a single rate tariff. We show one product per retailer, listed in order of lowest price first. Always check plan information with the retailer directly before making a purchase decision. 

1. Sumo – Sumo Assure

Bundled utilities provider, Sumo is leading the charge in Sydney, offering customers a low variable rate plan with decent savings off the Reference Price. This product comes with no exit fees and offers monthly billing options but bill-payers will need to sign up online and agree to direct debit and ecommunications with Sumo to be eligible. 

2. AGL – Value Saver

AGL’s Value Saver comes in a close second on price for Sydneysiders, also offering variable rates and no exit fees. Customers who sign up to this offer online will also be eligible for a $75 sign-up credit. Households will need to agree to ebilling and online communications from AGL though. 

3. Energy Locals

Energy Locals is also dishing up a relatively cheap power plan to customers in Sydney post-July 1. The Online Member plan comes with a unique proposition wherein bill-payers have access to wholesale rates in exchange for a fixed yearly membership fee. This plan also offers 100 percent carbon neutral energy. 

Other cheap energy deals in Sydney

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. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin.

Here are the AGL Energy plans on our database for NSW. These are products 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 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.

Here are the EnergyAustralia plans on our database for NSW. These are products 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 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.

Here are the Origin Energy plans on our database for NSW. These are products 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 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.

Cheapest Electricity Deals in Melbourne

Below are three of the cheapest plans from providers in Melbourne at the time of publication following the Victorian Default Offer (VDO) change on July 1, 2022. Keep in mind these deals are for residential customers on the Citipower network connected to a single rate tariff. We show one product per retailer, listed in order of lowest price first. Always check plan information with the retailer directly before making a purchase decision. 

1. AGL – Value Saver

Utilities giant AGL is currently offering the biggest savings on the VDO in Melbourne, with its flagship Value Saver. This plan comes with variable rates and no exit fees, plus a one-off $75 bill credit for customers who sign up online. To be eligible for this offer customers will need to agree to ebilling and online communication with AGL. 

2. EnergyAustralia – Flexi Plan

EnergyAustralia also has an offer that may please savings-savvy Melbournians. The retailer’s Flexi Plan comes with a guaranteed discount on its variable usage and supply charges for 12 months. Plus, customers who sign up online will earn a $25 credit to be applied to their first bill.

3. Origin – Flexi Rate ePlus

Origin’s Flexi Rate ePlus is also offering a decent saving off the VDO at the moment. As an online-only plan, customers will need to agree to email billing and online correspondence with Origin to be eligible for this offer. Flexi Rate ePlus comes with variable rates and no exit fees or lock-in contracts.

Other Cheap Energy Deals in Melbourne

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†. 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 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. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin.

Here are the AGL 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 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.

Here are the EnergyAustralia 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 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.

Here are the Origin Energy plans on our database for Victoria. These are products from a referral partner†. These costs are based on the Citipower energy 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 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.

Cheapest Electricity Deals in south-east Queensland

Below are three of the cheapest plans from providers in south-east Queensland at the time of publication following the Reference Price change on July 1, 2022. Keep in mind these deals are for residential customers on the Energex network connected to a single rate tariff. We show one product per retailer, listed in order of lowest price first. Always check plan information with the retailer directly before making a purchase decision. 

1. EnergyAustralia – Basic Home

EnergyAustralia has taken out the top spot for price in Queensland post-July 1. With the retailer’s Basic Home plan, customers will receive competitive, variable usage and supply rates on an ongoing contract term. EnergyAustralia won’t charge fees for credit card payments or paper billing on this offer either. A small online sign-up credit is also available.

2. AGL – Value Saver

Australia’s oldest energy company is also dishing out big savings to Queenslanders with its Value Saver plan. This offer comes with low variable rates for customers who agree to ebilling and online communication with AGL. Plus, residents who sign up online will earn a $75 credit on their first bill. 

3. Energy Locals – Online Member

Another retailer offering a decent saving off the Reference Price in the sunshine state is Energy Locals. With Online Member, Queenslanders pay a small, fixed yearly membership fee in exchange for access to wholesale rates. This offer is also comes with 100% carbon neutral energy.

Other cheap energy deals in south-east Queensland

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 Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/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. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin.

Here are the AGL Energy plans on our database for SE QLD. These are products from a referral partner†. These costs are based on the Energex energy network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/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.

Here are the EnergyAustralia plans on our database for SE QLD. These are products from a referral partner†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/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.

Here are the Origin Energy plans on our database for SE QLD. These are products from a referral partner†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/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.

Cheapest Electricity Deals in South Australia

Below are three of the cheapest plans from providers in South Australia at the time of publication following the Reference Price change on July 1, 2022. Keep in mind these deals are for residential customers on the SA Power Networks network connected to a single rate tariff. We show one product per retailer, listed in order of lowest price first. Always check plan information with the retailer directly before making a purchase decision. 

1. Sumo – Sumo Assure Advantage

Telco and energy provider Sumo is currently offering the biggest savings on the Reference Price in SA. The retailer’s Sumo Assure Advantage plan dishes out variable usage and supply rates over an ongoing period with no exit fees and monthly billing options available. Sumo also offers a competitive solar feed-in tariff of 8c/kWh on this plan.

2. Origin – Flexi Rate ePlus

Australia’s largest energy company, Origin, has another competitive offer for SA customers – as long as they are willing to sign up to an online-only plan. In exchange for signing up online and agreeing to ebilling and communication via email with Origin, bill-payers in SA will gain access to cheaper variable rates for a 12-month benefit period. Monthly billing and carbon neutral energy options are also available. 

3. AGL – Value Saver

AGL is also serving up savings to South Australians with its Value Saver offer. This plan comes with variable rates over a 12 month benefit period. Monthly billing options are available and there’s no lock-in contracts or exit fees. However, customers will need to agree to ebilling and online communication with AGL to be eligible.

Other cheap energy deals in South Australia

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 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 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. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin.

Here are the AGL Energy plans on our database for South Australia. These are products 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 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.

Here are the EnergyAustralia plans on our database for South Australia. These are products 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 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.

Here are the Origin Energy plans on our database for South Australia. These are products 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 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.

Image credit: KT Stock photos/Shutterstock.com

Share this article