Getting our Mojo back: QLD energy prices hit 25% below reference price

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Queensland’s electricity bill-payers are set to get their Mojo back, and we’re not talking about confidence.

Mojo Power is back in the Sunshine State with a vengeance, bringing with it a hot new energy offer that, value-wise, is beating out competitors by a serious margin.

Soon after launching its All Day Breakfast plan in the sunshine state, the retailer has slashed its rates, making it the cheapest residential power plan on the Energex network in SE Queensland at the time of writing.

It delivers a generous 25% off the Reference Price to Brisbanites and those across the south east of the state, putting it ahead of similar budget-busting deals from ReAmped Energy, OVO Energy, Alinta Energy, Simply Energy and others.

Mojo Power CEO, Warren Murphy, explained that the plan is best-suited to households with a smart meter, with the company aiming to provide them to those without.

“Smart meters give our customers actual bills monthly so they can manage their household budgets,” he said. “Not only does the customer get access to low rates, but access to monitor consumption which enables them to stay in control of their usage and prevent bill shock.

“We also provide tools to set up notifications if they are going to spend over a certain limit. We find this notification very beneficial to our customers.”

Mr Murphy also suggested that part of Mojo Power’s strategy is to help people experiencing hardships as a result of COVID-19.

“With so many people working from home and until recently home schooling as well, we just wanted to pass on as much discount as we can so that people can save money but moreover, experience what it is like to be part of the Mojo Power family,” he said.

Queensland Energy Prices

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 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 SE QLD. These are products from a referral partner†. 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 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 SE QLD. These are products from a referral partner†. 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 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 SE QLD. These are products from a referral partner†. 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 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.

Unprecedented power competition in QLD

Canstar Blue Editor-in-Chief, Simon Downes, said Mojo Power’s price cut is the latest move by retailers taking advantage of lower wholesale costs in the state, resulting in intense competition between smaller providers.

“We’ve never seen anything like this before,” he said. “But this is exactly what we hoped would happen when the market was deregulated in the first place. We’re seeing a handful of retailers fighting it out to deliver the cheapest deals possible and get themselves to the top of comparison websites like ours.

“The smaller retailers are able to adjust quickly to changes in wholesale costs, which is why we’re seeing so much movement from the likes of Mojo Power and ReAmped Energy. Now we’re looking to the bigger players to see if they can keep pace.”


Image credit:  Maythee Voran/shutterstock.com

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