Prices fall further: ReAmped Energy cuts rates AGAIN in NSW, QLD

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The energy retailer that hates being beaten on price has once again cut its rates in New South Wales and south east Queensland.

ReAmped Energy continues to back up its bold claim of wanting to provide the cheapest electricity prices on comparison websites, trimming the cost of its ReAmped Handshake deal to maintain its position as one of the cheapest plans around.

In NSW, the Handshake plan goes from 21% to 23% less than the Reference Price on the Ausgrid network in Sydney, while in the Queensland it goes from 19% to 21% off the default price on the Energex network in the Brisbane area at the time of writing.

It comes after several other rate cuts in recent months from the likes of OVO Energy, Click Energy and Mojo Power, ensuring that ReAmped Energy remains almost unbeatable on price.

Canstar Blue Editor-in-Chief, Simon Downes, said ReAmped Energy’s approach to energy retail is something we have never seen before.

“It’s astonishing that an energy company continues to cut its rates every time another comes close to beating it,” he said. “This is the type of competition that the deregulation of the markets was designed to achieve.

“ReAmped Energy has already had more of an influence of driving down electricity prices in New South Wales and Queensland than any other retailer we’ve seen. Even if you don’t switch to the company yourself, you can at least use its pricing to negotiate a better deal with your current provider.

“It’s not the first retailer to talk the talk of claiming that an online-only business model helps it keep costs low and pass the savings onto customers, but ReAmped Energy is the first to truly walk the walk.”

However, Mr Downes did issue one small word of warning to existing customers who may not benefit each time rates are cut.

“With continuous rate changes, existing ReAmped customers may not always see these new low rates passed on. However, there’s nothing stopping you from contacting the company and insisting you also get the new rates,” he said.

ReAmped Energy Prices

Here are the ReAmped Energy plans on our database for NSW. These are products from a referral partner†. 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 ReAmped Energy plans on our database for SE QLD. This is a product 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. 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 ReAmped plans on our database for South Australia. This is a product from 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.

What is the ReAmped Handshake and how does it compare?

ReAmped Energy launched its Handshake plan in NSW and QLD in 2019, asking customers to commit their loyalty to the retailer for 12 months in exchange for competitive rates. The company has another standard product in each area.

However, despite the premise, the plan does not include any lock-in contract or exit fees, with ReAmped itself admitting that the commitment is really nothing more than an informal, verbal agreement.

And unlike with other providers, the plan doesn’t rely on any conditional discounts to improve its value. It’s available in NSW, QLD and South Australia, where it’s also one of the cheapest deals on the market.

See how the ReAmped Handshake compares on price in each state with the table below.

Energy 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.

Image credit: ANDRIY B/shutterstock.com

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