Price drop: ReAmped Energy reduces rates again in NSW and QLD

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ReAmped Energy has done it again, dropping rates in New South Wales and Queensland where price wars between retailers have intensified recently.

Customers who sign up to the ReAmped Advance plan in Sydney (Ausgrid network) will now get 31% off the Reference Price – a record high since default tariffs were introduced last year.

In south east QLD, it’s a similar story where residents on the Energex network will receive 27% off the reference price – again the cheapest electricity deal on Canstar Blue’s database at the time of publication.

Challenger brand ReAmped Energy has been aggressive lately, reacting quickly to price movements from its competitors, with rate cuts that constantly see the retailer on top, said Canstar Blue Editor-in Chief, Simon Downes.

“ReAmped Energy has become a retail market leader that isn’t afraid of cutting rates, typically outperforming most other brands on price,” Mr Downes said.

“Some retailers only change prices once or twice a year and have no interest in being competitive, so it’s a testament to ReAmped for offering customers deals that are consistently below the average.

“While cheaper prices are great, it’s important not to forget about customer service, an area where newer providers like ReAmped are yet to be really tested. But with no contract, there isn’t really much to lose by giving a smaller player a chance.”

These price drops come shortly after emergent Mojo Power reached new heights in the energy price war, offering customers in Sydney 30% off the reference price.

ReAmped Energy’s latest rate cut comes only a month after it launched the ReAmped Advance plan, which is available across NSW, QLD and SA. ReAmped Advance is a pre-paid plan that allocates an amount a customer pays every fortnight, in advance for the next billing period. Customers who sign up must also agree to direct debit and receiving bills and communication online.

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.

Savings have never been better

These reference price record-breaking deals from ReAmped Energy are a great sign of energy competition in general, which is positive news for households looking to cut back on costs. In fact, Canstar Blue data experts have calculated that since mid-2019, percentages off the reference price have been getting bigger and bigger.

In less than a year, the savings off the NSW reference price on the Ausgrid network has soared from around 19% to now stand at 31%. In south east QLD, the reference price gap has also widened, rising from about 16% to 27% in recent months. South Australians are also better off, with savings off the reference price increasing from roughly 15% to 23%.

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: fizkes/Shutterstock.com

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