fbpx

Best Electricity Plans 

Compare offers through Savvy to help you find the best possible electricity plan for your needs and usage. 

Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on August 11th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Energy Banner - Couple sitting on the couch looking at the best electricity plans on a tablet
EnergyAustralia
AGL
Alinta Energy logo
Engie
Momentum Energy
Tango Energy

We’ve partnered with Econnex to bring you a range of energy plans to help you compare them.

EnergyAustralia
Alinta Energy logo
Engie
Momentum Energy
Tango Energy
AGL

We’ve partnered with Econnex to bring you a range of energy plans to help you compare them.

logo money3
Westpac car insurance
Capital finance logo
Moula logo
prospa logo
Angle Finance Logo

Are you searching for the best electricity plan in Australia that suits your needs and budget? Look no further! Savvy is here to help you find a great electricity plan which can maximise your savings while meeting your energy requirements. Our 100% free energy comparison service will help you instantly compare a wide range of electricity offers tailored to your location. 

Discover the latest energy offers available in your area including sign-up offers and bundling deals. Unlock the potential for substantial savings on your electricity bills right here by using Savvy’s user-friendly online comparison tool. Compare electricity plans from leading providers in Australia with Savvy and make the best choice for your energy needs today! 

How do I find the best electricity plan in Australia?

The best electricity plan available to you will depend entirely on where you live and your energy needs. This is because Australia doesn't have one single electricity grid which supplies all states and territories equally; each state has its own rules and regulations when it comes to energy plans

Residents of the Northern Territory and Western Australia have less choice when it comes to switching electricity providers to find the best deal. This is because these areas are not part of the National Electricity Market (NEM) and have their own state-based energy rules and regulations.   

However, for Aussies living in New South Wales, the ACT, Queensland, South Australia, Victoria and Tasmania, the process to find the best plan is simpler, as all these states are members of the NEM. Therefore, there are consistent regulations in place across these southern and eastern states which help make comparisons between plans and retailers easier. 

Comparing retail electricity plans is the key to finding the best contract. Savvy makes this process easy for you by providing a 100% free comparison service where you can compare plans, choose the best deal from some of Australia’s leading retailers and make the switch all in one place. If you have any questions about what technical energy terms mean, you look them up in Savvy's energy glossary. Start your journey to unlock potential energy savings here today! 

How do I compare electricity plans to find the best one?

There are many factors to consider when comparing electricity plans to help you find the best one for your situation. These include: 

Type of contract 

There are two different types of electricity contracts to choose from in Australia:  

  • Standard contract: this plan offers the appropriate electricity price set by law in your state. While it may be slightly higher than a market contract in terms of its price, you can switch providers at any time without paying exit fees. 
  • Market contract: this plan comes with special conditions, often including price discounts and sign-up credits for new customers. The discounts may be valid for the duration of the contract or just for a set period, such as the first six months. However, if you decide to switch providers during a market contract term, there are usually exit fees which apply. 

When signing up for a market electricity contract, you may have the choice between variable or fixed rates for the cost of electricity usage. Variable rates can change over time based on national market price fluctuations, while fixed rates remain the same for a specified period, providing greater cost predictability and stability. 

Overall cost of the plan 

Retailers offer plans based on the electricity reference price and average usage in your area. They also mention the percentage difference between their price and the national reference price, allowing for easy cost comparisons. For example, one plan may offer 6% less than the electricity reference price for your area, while another may be 8% less, which means the second offer will be a cheaper plan to take on. It's important to look for a plan which fits in with your budget while still offering suitable electricity services for your needs. 

Tariffs 

There are different types of tariffs which can be applied to your electricity bill: 

  • Single rate tariff: this tariff charges the same rate per kilowatt-hour (kWh) regardless of the time you use the electricity. 
  • Time of use tariff: this tariff has varying rates for different periods of the day, such as peak, off-peak and shoulder rates (which are in-between peak and off-peak.) Peak periods are when electricity demand is highest, while off-peak periods are when demand is lowest.  
  • Controlled load tariff: this tariff is specifically designed for high-demand appliances like hot water systems, underfloor heating or pool heaters. It has a separate rate from standard electricity usage and your high-use appliance may have its own separate electricity meter. 
  • Demand tariff: a demand tariff is a way of charging for electricity based on the highest amount of electricity you use within a specific period, no matter when it occurs during the day. Instead of looking at how much electricity you use overall, a demand tariff focuses on your peak level of electricity usage. It considers the maximum amount of power you need at any given time. This type of tariff is often used for businesses or other customers with fluctuating or high electricity usage. By using a demand tariff, electricity providers encourage customers to manage and reduce their highest levels of electricity usage, which helps make the electricity grid more stable and therefore efficient. 

The best tariff for you depends on your electricity usage, the timing of your energy consumption, and the types of appliances you use, in addition to any solar generation considerations if you do have solar panels. Understanding your electricity usage patterns, which can be found on your recent electricity bill, will help you choose the most suitable plan for your specific needs. 

Discount offers 

Electricity discount offers can help you save on your energy bills, with discounts provided either as a percentage or as a fixed amount. For example, you may be offered 5% off your electricity bill if you pay it on time, or you might receive a small discount for signing up for a certain plan. 

Ensure you read the terms and conditions, as some discounts may be time-limited or have specific eligibility criteria. It's important to understand which charges the discount applies to, as they may just apply to the usage portion of the bill, not the supply charge. It's also important to understand how long the discount lasts and whether it’s worth it in the long run. 

Supply charge 

The supply charge on an electricity bill is a fixed fee which is charged by the energy provider to cover the cost of supplying electricity to your property. It’s a daily charge measured in cents that remains the same regardless of the amount of electricity you use. The supply charge contributes to maintaining infrastructure, such as power lines and meters, necessary for delivering electricity to your home or business premises. 

The supply charge is separate from the usage charge (which is based on the actual amount of electricity you use). Therefore, you’ll have a supply charge even if you use no electricity, as you’re still connected to the national grid. Each provider may have a different supply charge, so it’s important to compare these to help you find the best plan. 

Fees 

Consider the fees charged by the electricity retailer you’re considering, such as: 

  • Connection fees (if you’re moving to a new home) 
  • Disconnection fees (if you’re moving location) 
  • Credit card payments fees 
  • Direct debit fees 
  • Late payment fees 
  • Early exit fees 
  • Paper bill fees (charged for sending you paper bills as opposed to emailing you the bill) 

Comparing fees will help you identify the provider with the lowest overall fees in their billing package.

What should I consider if I have solar panels?

If you have solar panels and are looking for the best electricity plan, you should also consider: 

Solar electricity feed-in tariff

The feed-in tariff (also called the ‘buy-back rate’) is the rate at which your energy company pays you for electricity generated by your solar panels and fed back into the national electricity grid. It’s typically measured in cents per kilowatt-hour (c/kWh). 

Compare both fixed-rate and variable-rate feed-in tariffs to determine which aligns better with your system’s energy generation and your family’s electricity usage patterns. 

  • A fixed feed-in tariff rate means you’re paid the same amount for all electricity that your solar panel system generates. 
  • A variable-rate feed-in tariff provides different rates depending on the time you export electricity to the grid. It gives you higher rates during times when energy demand is high, usually in the evening, and lower rates during the daytime. This tariff benefits solar panel owners with battery storage, as they can take advantage of peak energy prices and adjust their energy export accordingly. By selling electricity at higher rates during peak periods, you can maximise your earnings and make the most of your solar panel investment. 

Top tips for finding the best electricity plans

Compare electricity plans through Savvy

Comparing electricity plans is the most effective way to find the best plan for your specific needs and electricity use. All households are different, so it’s only by comparing plans that you’ll be able to find a plan which best fits your electricity use pattern and needs. Savvy’s 100% free comparison service lets you compare energy plans quickly and easily, and there’s no limit to the number of times you can use our comparison service per year.

Look at rates and tariffs carefully

Take the time to compare the rates and tariffs offered by different electricity providers. Look beyond the headline price and consider factors such as peak and off-peak rates, feed-in tariffs for solar and any additional charges or discounts which may apply to you. 

Consider bundling your gas and electricity plans

Combining your electricity and gas plans with one retailer can save you money, as many retailers offer bundling discounts. This could potentially save you from 5% up to 20% on the total bill when you combine both gas and electricity services with the same provider. Consider whether doing so may be the cheapest, most convenient and (ultimately) best option for you. 

Make sure your retailer applies energy concessions

If you receive Centrelink assistance, you may be eligible for energy concessions from the Australian government. When comparing and swapping electricity providers, make sure your new provider will apply your concession to the electricity plan you choose to switch to. 

Types of energy plan

Why compare energy plans with Savvy?

Frequently asked questions about the best electricity plans

Do some of the best electricity plans come with energy apps for my phone?

Several of the best electricity plans in Australia do come with energy apps. These provide convenient access to energy use information, including the potential to send you alerts when your electricity use is unusually high. 

Using an energy app, you may also have access to your billing details and useful account management features, as well as being able to schedule bill payments through your app. They may help you track your electricity consumption, monitor your usage patterns, pay your bills and receive personalised tips on how to save energy and reduce costs. To use many of these app features, however, you may need to have a smart electricity meter. 

Are fixed-rate or variable-rate electricity plans better?

Both fixed-rate and variable-rate electricity plans have their advantages. Fixed-rate plans offer price stability over a specific period, providing budget certainty. Variable-rate plans, on the other hand, may offer flexibility and the potential to take advantage of lower prices when market rates drop. Consider your risk tolerance and preference for predictability when choosing between the two options and determining which is best for you.

What are the benefits of choosing a green electricity plan?

Opting for a green electricity plan allows you to support renewable energy generation and reduce your carbon footprint. These plans typically source electricity from renewable sources like wind, solar, or hydro power. By choosing a green plan, you contribute to a cleaner environment and promote the growth of sustainable energy. It's an excellent option for environmentally conscious individuals who want to make a positive impact. 

Can I switch electricity providers if I'm currently on a fixed-term contract?

Yes – however, switching providers during a fixed-term contract may result in early exit fees, depending on the terms of your contract. It's important to review the contract details and calculate if the potential savings from switching outweigh the fees. However, once your fixed-term contract expires, you’re generally free to switch providers without any penalties. 

Helpful energy guides

Older couple looking at energy bill on tablet

Electricity Supply Charges

Have you ever wondered what the supply charge on your electricity bill is for? Find out all about energy supply charges here with Savvy. ...

Rising utility bills in Australia

Electricity Prices

Find out why electricity prices in Australia are rising dramatically and what you can do to lower your power bills  With electricity prices rising...

Rising utility bills in Australia

Electricity Tariffs

Find out all about electricity tariffs and which ones may work to help you keep your power bills low. Electricity prices in Australia are...

Energy Banner - Young couple look at their electricity bills before they switch providers

What Is A Variable Rate Electricity Plan?

Are you wondering what is a variable rate electricity plan? Find out all you need to know about variable electricity tariffs here with Savvy.  Understanding...

Energy - controlled load tariffs

Controlled Load Tariffs

Find out what a controlled load tariff is, and how you could possibly save money on your electricity bill by using one Controlled load...

Energy gas vs electricity

Gas vs Electricity Costs

Have you ever wondered about gas vs electricity costs? Find out which one of these energy sources is cheaper here with Savvy.  When it...

Energy Banner - Young couple look at their electricity bills before they switch providers

How To Monitor Electricity Usage 

Are you struggling with large power bills and wondering how to monitor your electricity usage? Find out how to keep tabs on your power...

Choosing electricity provider

How To Choose Electricity Provider

Are you wondering what factors you should consider when deciding how to choose a new electricity provider? Find out all you need to know...

Disclaimer:

Savvy is partnered with Econnex Comparison (CIMET Sales Pty Ltd, ABN 72 620 395 726) to provide readers with a variety of energy plans to compare. We do not compare all retailers in the market, or all plans offered by all retailers. Savvy earns a commission from Econnex each time a customer buys an energy plan via our website. We don’t arrange for products to be purchased directly, as all purchases are conducted via Econnex.

Any advice presented above is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an energy plan. For further information on the variety of energy plans compared by Econnex, or how their business works, you can visit their website.

Energy Banner - Couple sitting on the couch looking at the best electricity plans on a tablet

We'd love to chat, how can we help?

By clicking "Submit", you agree to be contacted by a Savvy Agency Owner and to receive communications from Savvy which you can unsubscribe from at any time. Read our Privacy Policy.