Best-Rated Electricity Providers VIC

See Our Ratings Methodology.

Canstar Blue award log for Most Satisfied Customers - VIC Electricity Providers

Most Satisfied Customers | Tango Energy

Tango Energy has claimed its second award for Most Satisfied Customers – Victoria Electricity Providers, beating our prior winners Powershop and Red Energy. Tango Energy locked in five stars for overall satisfaction in 2023, along with five stars for value for money, customer service and bill and cost clarity.

Tango Energy logo

 

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How we rate Victorian electricity providers


This year, over 2,100 electricity bill-payers in Melbourne and across VIC have had their say on their power companies of choice, which have been rated on factors including bill and cost clarity, online tools and advice, customer service and value for money. With so much competition between retailers, the idea is to give you as much information as possible about the 12 brands compared, as well as the others that operate in the state, to help you make the best decision for your needs. If you’ve always been with one of the ‘big three’ energy companies – AGL, Origin and EnergyAustralia – you may find these results particularly interesting given the research highlights a notable divide in satisfaction between customers of the big companies and some smaller providers. Keep in mind though that, while our ratings include 12 of the most prominent electricity retailers in VIC, you may find others operating in your area.


Canstar Blue surveyed 2,161 Victorian households for their feedback on their energy retailer. Respondents had to live in Victoria, have an electricity account and pay the bills for their response to be eligible.

  • The outcomes reported in these ratings are measured via ISO 26362 accredited research panels managed by Qualtrics.

Respondents rate their satisfaction with their electricity supplier from zero to ten, where zero is extremely dissatisfied and ten is extremely satisfied. Provider satisfaction was rated by respondents on the following criteria:

  • Overall satisfaction: measured consumer satisfaction with an electricity provider as an individual score NOT a combined total of all criteria.
  • Value for money: cost was low for the quality and effectiveness of the electricity provider.
  • Customer service: the electricity provider had multiple service points for customers, e.g. telephone, email, online chat.
  • Bill and cost clarity: the electricity provider had an easy-to-understand bill.
  • Online tools and advice: the electricity provider had an app or online account to monitor energy usage, pay bills and manage account information.
  • Ease of sign-up: the electricity provider had a simple sign-up process.

The winning brand is the one that receives the highest Overall satisfaction rating once all the scores from the Overall satisfaction criteria are combined and averaged.

  • Overall satisfaction is asked as a specific question and represents an individual measure, not a combined total of all criteria.
  • When we cannot determine a clear winner from the criteria for the Overall satisfaction rating, we will then look at the other criteria measured in the rating.
    • The brand with the highest number of five-star ratings within the supporting criteria will become the five-star recipient in overall satisfaction, and thus win the award. If a clear leader still cannot be determined from the supporting criteria, joint winners will be declared.

Brands must have received at least 30 responses to be included, so not all brands available in the market have been compared in this survey. The brands rated in this survey are listed below in order of best overall satisfaction.

Best VIC electricity providers:

  1. Tango Energy
  2. GloBird Energy
  3. Red Energy
  4. Lumo Energy
  5. Engie
  6. Momentum Energy
  7. Powershop
  8. AGL
  9. Origin Energy
  10. EnergyAustralia 
  11. Dodo
  12. Alinta Energy

Tango Energy has topped the table for the first time since 2018, marking the second time the brand has been the retailer of choice for Victorian customers. Tango Energy was the only retailer in 2023 to receive five stars for overall satisfaction.

GloBird Energy took second place, achieving four stars for overall satisfaction, while last year’s winner Red Energy came in third, again with four stars. Lumo Energy also received four stars for satisfaction, while Engie, Momentum Energy, multi-time winner Powershop, AGL, Origin, EnergyAustralia, Dodo and Alinta Energy all claimed three stars.

Find more detailed information on our ratings methodology.


Victorian electricity deals

Here are some sponsored 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.

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†. 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.

Compare Victorian electricity plans

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†. 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.

1. Tango Energy


Ratings result

Tango Energy logo

Tango Energy has climbed the ranks to cinch first place in this year’s Victorian electricity provider ratings. The retailer took home five stars for overall satisfaction, value for money, customer service and bill cost and clarity, plus four stars for ease of sign-up.

Editor’s notes

Tango Energy is a Melbourne-based provider and the retail arm of renewable power generation company Pacific Hydro. Tango primarily operates in VIC, providing customers with a small selection of market offers. Tango offers plans with variable rates and does not include any conditional discounts, just competitive usage and supply rates, often in exchange for online communications and direct debit payments. Tango Energy is generally one of the cheaper-priced companies servicing the Victorian market, with a back-to-basics approach that has made it a hit with customers.

Tango Energy prices

Here are the Tango Energy plans in our database for VIC. 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.

2. GloBird Energy


Ratings result

GloBird Energy logo

Coming in at second place in 2023 is GloBird Energy, which received four stars for overall satisfaction, value for money, customer service, bill and cost clarity and online tools and advice. GloBird was also given five stars for ease of sign-up.

Editor’s notes

GloBird Energy has emerged as one of the main ‘second tier’ challengers to Australia’s power giants, AGL, Origin and EnergyAustralia. While some retailers promote their green credentials, helpful tools, or great customer service, GloBird is all about promoting cheap prices and big savings, which it mainly does through low rates and conditional discounts. In addition to supplying electricity, the retailer now also offers natural gas in VIC, as well as the other eastern states. 

GloBird Energy prices

Here are the GloBird Energy plans in our database for VIC. 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.

3. Red Energy


Ratings result

Red Energy logo

Red Energy came in third place this year, earning four stars for overall satisfaction, bill and cost clarity, and online tools and advice. It earned two five-star results for customer service and ease of sign-up, but just three stars for value for money.

Editor’s notes

The highest-rated electricity provider in our NSW comparison for 10 years running, Red Energy has also become a staple in our Victorian electricity provider ratings. The retailer keeps things fairly simple with a small range of variable rate market offers at competitive prices. Red Energy’s biggest selling point however, is its partnership with Qantas, with one plan coming with the added benefit of bonus Qantas Frequent Flyer points upon sign up and for paying on time. All of Red Energy’s plans come with no contract terms or exit fees.

Red Energy prices

Here are the Red Energy plans in our database for VIC. 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.

4. Lumo Energy


Ratings result

Lumo Energy logo

Lumo Energy was awarded four stars across most research categories this year, including for overall satisfaction, value for money, customer service, bill and cost clarity, online tools and advice, and ease of sign-up.

Editor’s notes

Lumo Energy offers Victorians a small range of market offers which currently feature variable rates (although fixed-rate deals are occasionally available). These plans come with monthly billing options, and no standard connection and disconnection fees for those moving homes. Lumo also offers a rewards program for customers, which gives members access to discounts from a wide range of retailers.

Lumo Energy prices

Here are the Lumo Energy plans in our database for VIC. 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.

5. Engie (formerly Simply Energy)


Ratings result

Engie

Engie received three stars for overall satisfaction in 2023, plus three stars for value for money and bill and cost clarity. However, customers gave Engie four stars for customer service, online tools and advice and for ease of sign-up.

Editor’s notes

Engie is typically a price-competitive brand, offering a range of unique products to choose from. Engie’s main selling point is its partnership with local motoring clubs, where it offers discounts to eligible members, as well as bonus 12-month memberships. It also offers a unique plan to Victorians that allows them to earn points towards movie tickets. All plans come with variable rates and no lock-in contracts.

Engie prices

Here are the Engie plans in our database for VIC. 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.

6. Momentum Energy


Ratings result

Momentum Energy was rated three stars for overall satisfaction, value for money, bill and cost clarity, online tools and advice and ease of sign-up in this year’s ratings. It was also awarded four stars for customer service.

Editor’s notes

Owned by Hydro Tasmania, Momentum Energy was one of the first retailers to make moves to help simplify the retail market in Australia by keeping its products free from conditional discounts. The Melbourne-based retailer markets itself as the brand with great rates but no confusing discounts. Momentum Energy offers several residential market offers in VIC, with varying rates but no exit fees.

Momentum Energy prices

Here are the Momentum Energy plans in our database for VIC. 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.

7. Powershop


Ratings result

Powershop Logo

A six-time winner of our Victorian electricity provider ratings, Powershop earned three stars for overall satisfaction in 2023, and three stars for value for money, customer service and bill and cost clarity. It also received five stars for online tools and advice, plus four stars for ease of sign-up.

Editor’s notes

As well as offering competitive rates, Powershop focuses on offering customers the helpful tools they need to monitor and act on their power usage, including an online platform and Powershop smartphone app. Previously, Powershop allowed customers to pre-purchase energy, but now offers a simplified postpaid approach to billing. When it comes to its plans, Powershop offers reasonable rates, which includes 100% of usage carbon offset at no extra cost.

Powershop prices

Here are the Powershop plans in our database for VIC. 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.

8. AGL


Ratings result

AGL NBN logo

AGL took home three stars for overall satisfaction, value for money and bill and cost clarity in this year’s awards. It also received four stars for customer service, online tool and advice, and ease of sign-up.

Editor’s notes

Utilities giant AGL has undertaken a major review of its plans, moving away from conditional discounts and fixed rates and replacing these with reasonably low variable rates instead. It offers several plans in VIC, all of which come with access to AGL Rewards, the retailer’s loyalty program that delivers various value-add benefits. AGL is also one of few retailers to offer specific deals for seniors and solar customers.

AGL prices

Here are the AGL plans in our database for VIC. 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.

9. Origin Energy


Ratings result

origin-energy-logo

Origin was awarded three stars for overall satisfaction in 2023, and three stars for value for money and bill and cost clarity. However, it claimed four stars for customer service, online tools and advice and ease of sign-up.

Editor’s notes

One of Australia’s biggest energy retailers, Origin Energy offers Victorian customers several plans, all of which include variable rates. Specific market offers also include extras such as Allianz Emergency Home Assistance and bonus Everyday Rewards points. These plans come with no contract terms or exit fees. Origin also has some specific deals for customers with solar panels.

Origin Energy prices

Here are the Origin Energy plans in our database for VIC. 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.

10. EnergyAustralia


Ratings result

Energy Australia logo

EnergyAustralia scored three stars across multiple categories this year, including overall satisfaction, value for money and bill and cost clarity. It was awarded four stars for customer service, online tools and advice and ease of sign-up.

Editor’s notes

EnergyAustralia provides a fairly concise range of products in VIC. Rates vary between its plans, and the popular Flexi Plan includes a modest guaranteed discount applied to the whole bill. The company helpfully publishes estimated monthly costs for all its plans online so you’ll have an idea of what you’ll pay before signing up. Energy Australia also offers solar-specific products with a higher feed-in tariff.

EnergyAustralia prices

Here are the EnergyAustralia plans in our database for VIC. 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.

11. Dodo


Ratings result

Dodo Energy logo

Dodo has scored three stars in almost all research categories this year, including overall satisfaction, value for money, customer service, bill and cost clarity and online tools and advice. However, it snagged four stars for ease of sign-up.

Editor’s notes

Perhaps best-known as a phone and internet provider, Dodo has made the move into selling power and natural gas. A fairly no-frills retailer, Dodo operates with a single variable rate market offer, usually competitively priced. This is a no-contract agreement with no exit fees. Dodo encourages its customers to sign up for multiple services, offering a monthly internet discount for bundling NBN and electricity and/or gas.

Dodo prices

Here are the Dodo plans in our database for VIC. 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.

12. Alinta Energy


Ratings result

Rounding out our 2023 ratings is Alinta Energy, which took home three stars for overall satisfaction. It also received three stars for value for money, customer service,bill and cost clarity and online tools and advice, plus four stars for ease of sign-up.

Editor’s notes

Alinta Energy is one of the largest dual fuel providers in the southern states of Australia, as well as a major gas supplier in Western Australia. When it comes to VIC, Alinta offers competitive rates and no conditional discounts. The retailer also brings savings on various activities, such as movie tickets and eating out, to its customers through the Alinta Energy rewards program.

Alinta Energy prices

Here are the Alinta Energy plans in our database for VIC. 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.

How to find the best electricity deals in Victoria?

There is no simple answer to this question because it depends on a multitude of factors, from the type of contract you have, to your discount, electricity tariffs, and where you live. But to give you an idea of where to find the cheapest rates, Canstar Blue has a Victorian electricity cost comparison page, showing plans from the providers mentioned in this report. Being the cheapest provider doesn’t automatically make them the ‘best’, but if it’s purely the bottom line you are concerned about, be sure to check out the details. Also be sure to use our comparison tool for specific offers in your area.

To make sure that you get a better deal, be sure to consider and ask the following questions:

You will find the answers to these questions and more in the energy price fact sheets of each provider you compare. However, these documents can be quite difficult to understand, so don’t be afraid to pick up the phone and get the answers you need. It’s also a good idea to contact your existing provider and ask if your current deal is the best they can offer. And remember that the retailers should be working hard to keep you happy, so if you’re not completely satisfied with the price you’re paying or the service you’re receiving, you now know what you can do about it.

Who is the cheapest electricity provider in Victoria?

GloBird Energy, OVO Energy, CovaU and 1st Energy are consistently some of the cheapest electricity companies in VIC. Nevertheless, it’s best to frequently compare retailers as electricity prices change all the time given there are more than 20 brands to choose from.

Aside from which supplier is cheapest, it’s also important to look into what value a plan can give you through other features like customer service, billing options and rewards programs. Although cheaper prices will generally sway most Victorians when making a purchase decision, don’t discount the energy providers that will go the extra mile for your business.

How long does it take to switch electricity providers in Victoria?

It should only take two business days to switch energy providers in VIC, meaning the old retailer must transfer you to your new retailer within this time period.

It’s important to know that the retailer you’re looking to switch to will usually update you once your account has been successfully transferred. Also, you can expect a final bill from your old retailer which will still need to be settled.

Meet our energy experts


Kelseigh Wrigley: Energy Specialist

Kelseigh Wrigley covered Australia’s retail energy market, growing her industry specific expertise over the last two years. She holds a Bachelor of Journalism from the Queensland University of Technology and has contributed her skills to online publications Hunter and Bligh and local radio station 4ZZZ.

Meet the Editorial Team

Samantha Mauro-Todd: Consumer Research Specialist

Sam Howse Research Specialist

Samantha Mauro-Todd is Canstar Blue’s Consumer Research Specialist, coordinating the consumer research program behind our customer satisfaction awards across Canstar and Canstar Blue in Australia and New Zealand. Sam has earned a Bachelor of Business (Marketing) from Griffith University and, with seven years in market research and two years in marketing, she is experienced in survey design, implementation and analysis, coupled with an understanding of marketing principles and best practice.

Meet the Research Team

FAQs about VIC electricity providers

The list below features all the electricity providers that currently list plans in VIC.

  • 1st Energy
  • AGL
  • Alinta Energy
  • Amber Electric
  • Arcline by RACV
  • CovaU
  • Diamond Energy
  • Dodo
  • EnergyAustralia
  • Energy Locals
  • Engie
  • GloBird Energy
  • Kogan Energy
  • Lumo Energy
  • Momentum Energy
  • Nectr
  • Origin Energy
  • OVO Energy
  • Pacific Blue
  • Powershop
  • Red Energy
  • Sumo
  • Tango Energy.

There are five electricity distribution networks in VIC, with numerous energy providers operating throughout. Canstar Blue’s electricity comparison tool includes pricing from all of these providers. Please note, other providers may be available in your area.

One factor that could impact the size of your next bill is where you live. VIC has five different electricity distribution networks and the cost of supplying power to your home can be different depending on which network you live on. While electricity retailers are the customer-facing business, it’s the distributors who manage the infrastructure (i.e. poles and wires) that transports energy to your living room. The five electricity distributors in VIC are:

  • Citipower – servicing Melbourne city and inner suburbs
  • Jemena – servicing northern and south-western suburbs
  • Powercor Australia – servicing western suburbs and western VIC
  • AusNet Services – servicing outer northern and eastern suburbs, plus eastern VIC
  • United Energy – servicing southern suburbs and Mornington Peninsula

As the retailers pass on distributor costs to their customers, the suburb you live in will impact your energy costs. For example, an Origin customer living in north Melbourne would pay a different rate to an Origin customer in south Melbourne, even if they have the same product and identical usage habits. Distributor costs can account for up to 50% of your overall bill. If you are a homeowner, there is nothing you can do about this, but if you are renting a home or considering where to buy, this is worth looking into. Choosing one suburb over another could save you hundreds of dollars a year in energy costs.

Who pays the most (and least) for energy in Victoria?

Given that distribution costs are passed on to the electricity providers, who then pass the costs onto their customers, it makes sense that households in the most hard-to-reach places will pay the most for power as there are more poles and wires involved in transmitting the energy to them. This is the case in VIC where electricity customers in central parts of Melbourne (on the Citipower network) generally pay lower rates than those who live on the Powercor and AusNet networks which cover huge parts of regional VIC.

As you can see, living in one part of VIC could see you paying hundreds of dollars a year more than an equivalent household in another part of the state, even with the same retailer. And keep in mind that it’s not only those out in regional VIC that pay the highest prices – as a provider’s rates are consistent across each network, you could live on the Powercor or AusNet network in an outer suburb of Melbourne and pay significantly more than your friends in a neighbouring suburb.

The sun may not shine in VIC as often as some other states, but more and more Victorian households are choosing to invest in solar systems. While all electricity market offers come with some form of solar feed-in tariff, there are only a handful of retailers that offer specific solar plans, usually with higher rates for solar generation. These include AGL, Origin, EnergyAustralia and 1st Energy.

Engie offers plans with NRMA and movie ticket inclusions , while Red Energy customers can collect Qantas Frequent Flyer points. It’s also common for retailers to throw an occasional $50-$100 in sign-up credit at new customers, especially if they sign up online.

Energy rewards programs in Victoria

The following electricity providers offer some form of rewards program to customers in VIC, bringing savings on various leisure and social activities, including eating out, accommodation and even theme park tickets.

  • AGL (AGL Rewards)
  • Alinta Energy (Alinta Energy Rewards)
  • CovaU (CovaU Rewards)

VIC is a hugely competitive market for the electricity providers – it’s where many invest the majority of their time, effort and money in order to attract new customers. This is important to know because it means that you have the power to find a better deal – provided that you’re willing to do your research and shop around. This hasn’t happened by chance or overnight. VIC was the first Australian state to completely remove electricity price regulations in 2009, which means the energy companies are free to set their own plans and prices, with minimal legislative interference under the introduction of the VDO in 2019. Households had been able to switch providers several years earlier, but there was little financial incentive to do so at the time.

With a fully deregulated electricity market, Victorians now have a huge range of different providers, plans and other incentives to choose from. However, with all this choice can come confusion and there is little doubt that the prospect of picking an electricity provider is a daunting one for a great many households, which is why many will still be paying more for power than they need to.

The Victorian energy market went through a significant change in July 2019 when tough new regulations took effect, designed to cut prices, as well as make comparing plans easier. After years of big, often dodgy discounts, retailers must now compare their discounted products to a ‘level playing field’ price called the Victorian Default Offer (VDO). The idea is that, unlike before, there is now a consistent price from which plans are compared, meaning you can have greater confidence that the plans boasting the biggest savings genuinely deliver them. At the same time, the Victorian Default Offer (VDO) acts as a price cap for customers who were previously paying the highest prices on standing offers. These customers have now been switched onto the cheaper VDO price and will be saving hundreds of dollars a year. That said, there are still many plans cheaper than the VDO, so shopping around for the best deal is still hugely important.

Victoria electricity generation and power stations

VIC currently has three coal-fired power stations in operation in the Latrobe Valley, Yallourn (owned by EnergyAustralia) and Loy Yang A and B (owned by AGL). The Loy Yang power stations alone are said to power approximately 30% of VIC’s electricity generation, although all three plants are scheduled to close in the next 10-15 years.

VIC is also home to more than a dozen solar farms, wind farms and hydroelectric power generation systems, though these can currently only meet a small percentage of the state’s overall energy demands.

Past ratings

Here are the previous winners of Canstar Blue’s Electricity Providers – VIC Customer Satisfaction Award:

  • 2022: Red Energy
  • 2021: Powershop
  • 2020: Powershop
  • 2019: Powershop
  • 2018: Tango Energy
  • 2017: Powershop
  • 2016: Powershop
  • 2015: Powershop

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