Energy Price Changes: Kogan emerges with amazing deals

Advertisement

Kogan Energy is the big story to emerge from this year’s July 1 price changes, having slashed rates to become one of the cheapest providers across parts of the country.

At a time when energy companies across New South Wales, Queensland, South Australia and the ACT amend their prices ahead of the new financial year, Kogan Energy has made clear its intentions to take on the bigger players in the market with deals up to 25% less than the Reference Price in some areas.

Based on the Reference Price assumptions for the Ausgrid network in NSW, Kogan Energy has shaved about $150 off its annual pricing, while prices in Queensland have dropped by more than $200 a year.

However, the biggest rate cut has been reserved for South Australia where Kogan has reduced prices by about $300 annually. All this makes Kogan one of the cheapest providers across the states at the time of publication.

“Some wholesale energy costs in Australia have fallen, and Kogan Energy has elected to pass on the usage savings to all new customers and existing customers to which they apply,” said Ross Metherell, Director of Strategy at Kogan.com.

“Kogan Energy is keeping its promise to consistently offer the best pricing it can. We’re pleased to see that Canstar analysis has shown Kogan Energy to be one of the cheapest electricity providers across parts of the country.”

Electricity Prices Compared

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.

Proof that shopping around means big savings

The July 1 energy price changes coincide with adjustments to Default Market Offer rates across NSW, Queensland and South Australia, with modest savings coming to those on standard contracts who do not shop around. But while default energy prices are coming down in most distribution network areas, the gap between the most expensive and cheapest electricity plans has increased, meaning the benefits of comparing and switching are now even greater.

“You could save close to $400 a year by switching from the default tariff onto one of the cheapest deals in each area,” said Canstar Blue Editor-in-Chief Simon Downes. “Those savings could be even bigger depending on your circumstances. The bigger your home and the more energy you use, the more you’ll save on a better deal.

“This is always the best time of year to compare offers and make sure you’re getting a good deal. With wholesale electricity prices on a downward trend, it’s time to take advantage and make some savings.

“Check if your provider is significantly cutting rates. If not, it’s probably time to switch.”

Existing Kogan Energy customers should contact the company to see if the rate changes automatically apply to them.

Yes, Kogan is an energy provider

You’ll know Kogan best as the online retailer flogging bargain TVs, phones, tech gadgets and just about everything for your home and garden. But it also recently became an energy provider, teaming up with Powershop to deliver services across NSW, QLD, SA and Victoria. This means that signing up with Kogan Energy likely means dealing with the customer service team at Powershop, but that’s not a bad thing considering Powershop has consistently been rated one of the best providers in our annual customer satisfaction ratings.

It also means Kogan Energy customers get a pretty cool app to help them monitor and understand their energy usage, given that Powershop’s whole business model revolves around the use of its app, allowing customers to purchase power in advance. However, Kogan goes down the basic route, simply providing great value energy deals with little effort involved.

Image credit: Visual Generation/Shutterstock.com

Share this article

Advertisement