The largest energy companies in Victoria

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Victorians are lucky enough to have perhaps the liveliest energy market in Australia, with more than 25 electricity and gas providers operating across the state. This could explain why a vast majority of customers in Victoria are connected to competitively-priced electricity market offers, as opposed to government-regulated default tariffs.

That being said, more than 1.6 million electricity customers in Victoria still rely on the ‘big three’ providers to power their homes and small businesses. While AGL, Origin and EnergyAustralia hold a substantial amount of the local electricity and gas markets, their dominance has faded over the past few years thanks to a bunch of smaller providers who are shaking things up.

We’re talking about companies like Momentum Energy, Powershop and Simply Energy (to name just a few) who have proved extremely popular among Melbournians. This guide explores which energy retailers have the largest customer share in Victoria, and highlights information on how customers can find a better deal.

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Who are the biggest electricity providers in Victoria?

AGL, Origin and EnergyAustralia are the largest electricity companies in Victoria, representing approximately 55% of the residential market. Two Snowy Hydro-owned retailers Lumo Energy and Red Energy are the next biggest electricity providers, holding a combined share of roughly 15% of the market.

We list plans from the big three providers below. Be sure to click on the ‘VIC’ tab to see prices available in your state.

AGL

AGL is the biggest electricity provider in Victoria, claiming a little over a fifth of the market, which translates to approximately 570,000 residential customers. It usually has two market offers available to choose from, one with fixed rates and the other with variable rates. AGL is known for its online sign-up incentives like bill credits and flybuys points.

Here are the AGL Energy plans on our database for NSW. 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 the AGL Energy plans on our database for Victoria. 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 the AGL Energy plans on our database for SE QLD. 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. 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 AGL Energy plans on our database for South Australia. 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.

Origin Energy

An energy company boasting more than four million customers across Australia, Origin supplies power to about 17% of Victorian households, which makes it the state’s second largest. There are nearly 437,000 households connected to Origin in Victoria. There are normally three or four plans from Origin to choose from, all of which are tailored to different electricity needs.

Here are the Origin Energy plans on our database for NSW. 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 the Origin Energy plans on our database for Victoria. 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 the Origin Energy plans on our database for SE QLD. 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 the Origin Energy plans on our database for South Australia. 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.

EnergyAustralia

EnergyAustralia is the third biggest electricity retailer in Victoria, looking after more than 425,000 residential accounts. Trailing slightly behind Origin, EnergyAustralia generally offers two fixed rate power plans and one variable rate plan in Victoria. EnergyAustralia promotes simplicity in its plans, moving away from confusing discounts and the like.

Here are the EnergyAustralia plans on our database for NSW. 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 the EnergyAustralia plans on our database for Victoria. 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 the EnergyAustralia plans on our database for SE QLD. 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 the EnergyAustralia plans on our database for South Australia. 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.

How many VIC customers are on market offers?

According to the Essential Services Commission, 85% of Victorians are on market offers. These plans may include pay on time, direct debit or dual fuel discounts, as well as bill credits and various other types of sign-up incentives.

Here’s an overview of average prices between different types of plans for residential electricity customers in the past few years.

Type of energy plan 2017 2018 2019
Standard contracts $1,582 $1,833 $1,881
Market offers without discounts $1,388 $1,359 $1,395
Market offers with discounts* $1,277 $1,366 $1,373

*Prices based on market offers with conditions of discounts met. Information sourced from Essential Services Commission (ESC), Victorian Energy Market Report 2018-19. Estimated residential bills assume electricity consumption of 4000kWh/year.

As highlighted in the above table, customers on market offers will usually pay lower energy prices than standard contracts. Just remember that some market contracts with discounts and any other incentives are only of value provided customers meet the conditions. Market offers can be just as expensive as standard contracts if customers do not satisfy the conditions of discounted plans, meaning it’s important to read the fine print before signing up.

Biggest energy providers by market share in VIC

Map of Australia with Victoria highlighted

Below is a list of electricity retailers and their residential market share in Victoria:

  • AGL: 21.7%
  • Origin: 17.01%
  • EnergyAustralia: 16.69%
  • Simply Energy: 9.37%
  • Red Energy: 9.0%
  • Lumo Energy: 6.0%
  • Alinta Energy: 6.0%
  • Other retailers: 14.0%

These figures have been sourced from the Australian Energy Market Commission (AEMC), Retail Energy Competitive Review, Victoria, 2019 & Essential Services Commission (ESC), Victorian Energy Market Report 2018-19.

Compare Electricity Prices in Victoria

Find out how the big three providers stack up in Victoria. Keep in mind the below prices are based on a set of specific energy usage assumptions. Use our comparison tool for an accurate quote in your area.

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 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.

Who are the biggest gas suppliers in Victoria?

The biggest gas suppliers in Victoria are AGL, EnergyAustralia and Origin. AGL holds the largest share with 26%, EnergyAustralia has 20%, and Origin 17%. The next largest gas suppliers are Simply Energy (10%), Red Energy (8%), Lumo Energy (7%) and Alinta Energy (5%).

What about small business energy in Victoria?

Small business energy concept with cafe, lights and customers

Again, it’s the big three providers – AGL, Origin and EnergyAustralia – controlling a majority of the Victorian small business market share. Origin has the largest share of the electricity market at 27%, as well as holding 36% of the natural gas market. The Essential Services Commission states that Tango Energy recorded the highest number of small business customers switching from 2018 to 2019.

What should Victorians look for in an energy plan

It’s safe to say that Victorians know a good deal when they see one, with the majority of households on competitive market offers from energy retailers. For many customers across Victoria, AGL, Origin and EnergyAustralia could be a great option for those more comfortable choosing a recognisable name, much like how some people prefer to fly with a particular airline.

However, our customer satisfaction research over the years shows that the smaller providers tend to have happier customers, including Powershop, Dodo, Momentum Energy and GloBird Energy. But in saying that, not all smaller providers are created equal and you’ll need to choose carefully because a few of them have a bad reputation for service. Long story short? There’s no right or wrong answer.

Although brand recognition makes sense for a lot of customers, it’s best to concentrate on an energy plan’s rates, which will have the biggest impact on power bill costs. Victorians can be comforted by the fact there are more than 25 energy providers to choose from, depending on where you live. So, get comparing and find the best deal for your needs.

Image credits: Javen/Shutterstock.com, Schwabenblitz/Shutterstock.com, Pratchaya Ruenyen/Shutterstock.com

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