What are the cheapest energy plans across Australia right now?

July 1 brings forth many things; the start of a new financial year, tax returns, savvy EOFY savings and… the energy reference price changing in New South Wales, south east Queensland and South Australia.

So, what does this mean for bill-paying customers? Well, this year it means the default market offer (DMO) is now considerably cheaper, with energy providers releasing new prices to reflect regulated pricing, but there are still more savings on offer for those willing to do a little more digging.

It’s also a good time for Victorians to review their existing plan to see if it’s still competitive as some providers have been busy changing prices and plans.

To help you navigate this July’s notable changes thus far, we’ve done the hard yards and compiled a list of the top three cheapest deals in NSW, QLD, SA and VIC post July 1. We list plans in select postcodes for residential customers on a single rate tariff. While we’ve done our best to show you what cheap deals are available right now, it’s best to use our free comparison tool to see a range of quotes specific to your area and circumstances.

To see the cheapest deals in your state currently available on our database, click the link to the relevant state below.

If you’d like a full breakdown of this year’s price and product changes, visit out electricity price changes page for more details. Happy savings!

Cheapest Energy Plans NSW

All Day Breakfast – Mojo Power

Kicking us off in NSW is Mojo Power, a smaller challenger brand making waves for its low electricity rates. It’s currently offering a large percentage off the reference price as well as a $50 bonus credit for referring a friend. The All Day Breakfast plan has no exit fees or lock-in contracts and comes with a monthly or quarterly billing cycle.

Here is the cheapest Mojo Power plan on our database for NSW. Costs based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This cost 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.

Advance – ReAmped Energy

Tailing closely behind is independent retailer ReAmped Energy and its Advance plan, which offers low variable rates for customers who agree to fixed fortnightly payments, paid in advance. This deal has no exit fees, lock-in contracts or credit card payment surcharges.

Here is the cheapest ReAmped Energy plan on our database for NSW. This is a product from a referral partner†. Costs based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This cost 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.

Home Deal – Alinta Energy

Joining the ranks of the cheapest deals in NSW is Alinta Energy, with its easy and simple Home Deal plan providing a competitive discount on the reference price. Like the other two plans above, Home Deal also comes with low variable rates and no exit-fees.

Here is the cheapest Alinta Energy plan on our database for NSW. This is a product from a referral partner†. Costs based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This cost 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.

Cheapest Energy Plans QLD

Advance – ReAmped Energy

Taking the crown for the sunshine state is Brisbane-based retailer, ReAmped Energy, which swept up the competition with low usage rates and a pay in advance payment model. In addition to being the cheapest, ReAmped Energy was also crowned Canstar Blue’s award for most outstanding value in Queensland in 2021.

Here is the cheapest ReAmped Energy plan on our database for SE QLD. This is a product from a referral partner†. Costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This cost 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. 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.

All Day Breakfast – Mojo Power

Coming in close behind is Mojo Power, offering not only low variable rates but the addition of a $50 bonus credit to customers who refer a friend. All Day Breakfast is Mojo’s flagship offer in the state and is only eligible to Queenslanders who own a smart meter.

Here is the cheapest Mojo Power plan on our database for SE QLD. Costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This cost 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. 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.

Rate Saver – Powerdirect

Soaring up the ladder this July in QLD is Powerdirect, smashing out a selection of smaller retailers and the big three for a spot among the cheapest energy deals in the state. Rate Saver offers Queenslanders fixed rates for 12 months and comes with no exit-fees and a solar feed-in tariff of 6c per kilowatt hour (kWh).

Here is the cheapest Powerdirect plan on our database for SE QLD. Costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This cost 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. 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 Energy Plans SA

Advance – ReAmped Energy

Once again, it’s ReAmped Energy leading the charge in SA, offering a generous amount off the reference price. Though the state is renowned for its expensive electricity prices, ReAmped continues to push on with its mission of providing cheap and simple energy plans to South Australians. Customers signing up to this deal will need to agree to fixed fortnightly payments, paid in advance.

Here is the cheapest ReAmped Energy plan on our database for South Australia. This is a product from a referral partner†. Costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This cost 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.

The One Plan – OVO Energy

Trailing closely behind and tearing up the competition in Adelaide and surrounds is OVO Energy. Its sole market offer, ‘The One Plan’, provides customers with low variable rates plus 100 per cent carbon neutral energy as well as 10 per cent GreenPower at no extra cost. OVO Energy even pays three per cent interest on customer balances that are in credit, and won’t charge any interest on accounts that are in debt.

Here is the cheapest OVO Energy plan on our database for South Australia. This is a product from a referral partner†. Costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This cost 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.

Online Member – Energy Locals

Another retailer that’s making a name for itself is Energy Locals. The point of difference to Energy Locals is that it gives customers access to cheaper wholesale rates in exchange for a reasonable ongoing membership fee. Energy Locals also offer 100 per cent carbon neutral energy at no extra cost.

Here is the cheapest Energy Locals plan on our database for South Australia. This is a product from a referral partner†. Costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This cost 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.

Cheapest Energy Plans VIC

Handshake – ReAmped Energy

On top of price in Victoria is newcomer ReAmped Energy. Offering a low variable rate plan with no exit fees, ReAmped’s Handshake provides Victorians a simple deal that holds big savings off the Victorian Default Offer (VDO). It substitutes discounts and bill credits for competitive usage and supply rates as well as a monthly billing cycle.

Here is the cheapest ReAmped Energy plan on our database for Victoria. This is a product from a referral partner†. Costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This cost 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.

Powerbank Home Flat – Powerclub

Shaking up the competition and knocking out previous front-runner ReAmped Energy, Powerclub now takes the crown for cheapest energy plan in Victoria. With its Powerbank Home Flat offer, Powerclub allows customers to access cheap wholesale electricity prices for a small annual fee.

Here is the cheapest Powerclub plan on our database for Victoria. Costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This cost 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.

The One Plan – OVO Energy

Continuing its domination of the south, OVO Energy also offers one of the cheapest electricity plans across Melbourne. The retailer’s token ‘The One Plan’ offers low variable rates, 10 per cent GreenPower and 100 per cent carbon neutral energy at no extra cost and the opportunity to earn interest on any credit account holders might have.

Here is the cheapest OVO Energy plan on our database for Victoria. This is a product from a referral partner†. Costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This cost 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.

Compare Energy Prices in Your State

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. 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 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 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.

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. 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 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. 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: Peterfz30/Shutterstock.com

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