What is the cheapest energy supplier?

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Price is arguably the biggest factor when choosing a product or service, and there’s absolutely nothing wrong with that. Imagine walking into a car dealership and the asking price of your dream wheels is more expensive than the same vehicle at another dealership. You’re clearly going to lean towards the cheapest, right?

Well, if you have the same mentality when it comes to your energy bills, this page cuts right to the chase. Below, you’ll find details of some of the cheapest electricity suppliers in New South Wales, Victoria, south east Queensland and South Australia as listed on our electricity database.

Cheap Energy Suppliers in Australia

There are more than 30 electricity retailers operating throughout the deregulated states, meaning the cheapest prices are constantly changing. Here, we list some of the cheapest energy suppliers in NSW, VIC, QLD and SA where we link to referral partners. Make sure you select your home state in the table below. And use our comparison tool to see prices from an even wider range of suppliers.

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.

Is the cheapest energy plan the best energy plan?

If you’re not swayed on price alone, check out our list of best value energy plans below. These are deals that are ranked by using our unique ‘Value Score’ methodology, which compares a range of variables within an electricity plan, such as plan flexibility, billing & payments, and customer service & support to identify the best value plans, rather than just the cheapest.

Do discounts make energy bills cheaper?

A discount applied to your power bill should, in theory, lower your overall energy costs, but unfortunately discounts are not as straightforward as they seem on paper. Beneath the surface of a discount, electricity bills are generally made up of usage and supply charges, which are the costs you pay for consuming power, as well as the cost of delivering energy to your home.

It’s worth pointing out that while discounts can make a big difference to your quarterly statement, they generally require you to fulfil some sort of criteria, like paying bills by direct debit or signing up online. Also, don’t expect discounts to stick around forever, the majority of which will normally vanish after a year or two. Lastly, make sure you skim the fine print of your plan to see whether the discount applies to just the usage charges, or both usage and supply charges.

Switching to a cheaper energy supplier

Jumping ship to a new electricity provider may sound daunting, but the process is usually stress-free. Most of the legwork is carried out on your behalf by the supplier you’re switching to, and they will generally notify you once the transition is complete. If you’ve spotted a better deal elsewhere, be sure to check the following details with the supplier before making a purchase decision.

  • Base rates: Depending on the plan, usage and supply rates may come fixed for a set period of time, or will fluctuate at the retailer’s discretion. Both fixed and variable rate plans can change in price after the benefit period has lapsed.
  • Hidden fees: Application and account fees may be tucked away in the fact sheets of energy plans. While most don’t have exit fees, some may have connection or disconnection fees if you’re home isn’t already connected to the network.
  • Benefit period: Otherwise known as a ‘contract period’, benefit periods refers to the period of time that a discount or bill credit is valid for. Most benefit periods will be either 12 or 24 months, while some are ongoing.
  • Customer service: A retailer’s ability to provide helpful online apps or tools, longer call centre hours and ease of switching are all things to consider before diving in.

How do I find the cheapest energy supplier in my area?

The easiest way to find a cheap energy plan is by using our comparison tool. Simply type in your postcode, click compare, and voila, you’ll be greeted with a bunch of electricity deals available in your area. From here you can sort by price to find out who is the cheapest energy supplier.

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Image credit: patpitchaya/Shutterstock.com 

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