Price Plummet: Kogan Energy offers huge savings in Victoria

A month into the new year and Kogan Energy is already firing up the power price war by dropping its rates to become one of the cheapest providers in Victoria.

The online retail giant has made a statement by slashing prices on its sole electricity plan by almost 14 per cent in Melbourne – an annual saving of $173.

Based on the Victorian Default Offer (VDO) across the Citipower network, Melbournians will receive Kogan’s deal at 16 per cent less than the VDO – the third cheapest currently on Canstar Blue’s database.

Director of Strategy at Kogan.com, Ross Metherell, said the retailer has reacted to falling wholesale energy prices with many savings passed on to Victorian bill payers.

“We’re delighted to be recognised by Canstar Blue as one of the cheapest energy providers in Victoria. Kogan Energy was built on the premise of amazing rates, and in line with wholesale electricity costs falling – we’ve made the decision to put the money back in the pockets of our customers,” he said.

“Both new and existing customers also have the power to make more informed decisions about their energy consumption by using the Kogan Energy app to track their usage.”

Kogan Energy operates in partnership with Meridian Energy, a New Zealand-based renewables company that also owns Powershop – one of Australia’s fastest-growing energy retailers.

Prices have also dropped on Kogan’s flagship gas plan by about six per cent for households on the Australian Gas Network in Melbourne.

Kogan Energy Prices Victoria

Here is Kogan Energy’s plan on our database for VIC. This is a product 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. 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.

Wait, Kogan sells energy?

Yes, Kogan Energy launched in September 2019, retailing electricity in New South Wales, Victoria, south east Queensland and South Australia, as well as selling natural gas to Victorians. Kogan has one offer in each state, aptly named ‘Market Offer’, which comes with variable rates and no exit fees.

Kogan’s emergence as an energy provider has been relatively uneventful until now, but with a strong focus on cheap rates, that’s sure to change, said Canstar Blue Editor-in-Chief, Simon Downes.

“Many Aussies turn to Kogan for bargain prices on tech gadgets, so it makes sense for energy consumers to put their faith in the brand when it comes to powering their home, and driving down bills is a sure way of getting attention,” he said.

Mr Downes added: “At the time of publication, Kogan’s electricity prices are very reasonable with plans ranging from 20 to 26 per cent less than the Reference Price in NSW, QLD and SA. In Victoria, Citipower residents who switch to Kogan will now stand to save around $170 a year. Just be sure to check out all details of a plan before signing up as Kogan’s Market Offer does require customers to pay monthly by direct debit.”

Existing Kogan Energy customers in Victoria should contact the retailer to ensure these new rates have been applied to their plan.

Compare Kogan Energy Prices in Victoria

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.

Image credit: Vladimir Sukhachev/Shutterstock.com

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