Momentum Energy on price-cutting spree in VIC, NSW and SA

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Momentum Energy has been on a price-cutting spree in New South Wales and South Australia, cutting the rates on its flagship offer to become much more competitive in the two states.

In a bold move to grow its customer base outside of Victoria – where it’s become one of the biggest ‘tier two’ retailers – Momentum Energy has reduced the annual cost of its SmilePower Flexi plan to make it one of the cheapest deals in NSW and SA respectively at the time of writing.

It follows a similar rate reduction from the Hydro Tasmania-owned retailer in Victoria last month, despite an increase in price to the state’s default tariff, the Victoria Default Offer (VDO).

However, the price reductions – between 4% and 7% across the states compared to the default tariff in each area – do not apply to existing Momentum Energy customers who will need to make contact with the retailer to discuss their options.

Canstar Blue Editor-in-Chief, Simon Downes, explained that regular price movements from providers reflected healthy signs of competition, but urged customers not to assume savings will automatically roll over.

“While it’s promising to see energy costs slashed by retailers, it doesn’t always mean the new prices will be passed onto existing customers, which is why it’s best to review your household’s energy bills at least once a quarter,” Mr Downes said.

“It’s still the case that new customers usually get the best deals, so you need to keep your business up for grabs by regularly comparing offers and not being afraid to switch if something better comes up. Remember, prices can go up as quickly as they come down.”

SmilePower Flexi is a variable rate plan, meaning that prices can change at Momentum Energy’s discretion, provided customers are notified beforehand. The retailer has two other deals in Victoria, including a plan aimed at renters and a ‘Self-Serve’ product with online only sign-up and support.

Momentum Energy is owned by Hydro Tasmania – one of Australia’s largest producers of renewable energy. The retailer currently provides electricity to homes and small businesses across Victoria, NSW and South Australia.

Momentum Energy plans

Momentum Energy’s plans are detailed below. These prices are subject to change.

NSW

Here are the Momentum Energy plans on our database for NSW. This is a product from a referral partner†. These costs are based on the Ausgrid energy 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.

South Australia

Here are the Momentum Energy plans on our database for South Australia. This is a product from a referral partner†. 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.

Victoria

Here are the Momentum 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. 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 does Momentum Energy compare on price?

The following tables show some of the cheapest deals on Canstar Blue’s database. These prices are subject to change.

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.

Picture credit: Andrey_Popov/Shutterstock.com

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