Cheap Electricity Plans 

Find and compare cheap electricity plans side-by-side using Savvy’s simple online comparison service today. 

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, updated on August 11th, 2023       

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Are you looking for a cheap electricity plan that can help you save on your energy bills? With power bills on the rise, finding an affordable electricity plan is crucial for many households. But don't worry: Savvy is here to assist you in comparing and finding a cheap energy plan. 

Our 100% free comparison service allows you to instantly compare electricity plans available in your area in one place. Say goodbye to the tedious task of contacting multiple energy companies and scrolling through numerous websites trying to find the information you need; compare online, switch and save right here with Savvy today. 

How can I find the cheapest electricity plan?

Finding the cheapest electricity plan depends on comparing various elements that make up a power bill. It’s important to understand how your electricity and gas is charged, so that you can take advantage of the cheapest tariff rates to lower the overall cost of your bill. Here are some key steps to help you compare and find the cheapest energy plan:

Consider your electricity usage pattern 

Have a look at one of your recent electricity bills to identify your electricity usage pattern. Identify whether you use most electricity during peak or off-peak periods. Some electricity plans offer discounted rates during off-peak hours, allowing you to save more on your energy bills if you switch use to off-peak demand hours. 

Evaluate different tariffs 

Understanding the different electricity tariffs available, such as single rate, time of use, and controlled load tariffs can help you find the cheapest electricity plan for your household needs. Choosing the right tariff based on your usage habits can lead to significant cost savings. 

Compare supply charges 

The supply charge is a fixed fee that covers the cost of delivering electricity to your property, regardless of how much electricity you use. Different providers will have varying supply charges, measured in cents per day, so it's essential to compare this charge alongside other electricity plan details to help you identify which retailer is offering the cheapest supply charge. This also applies to gas bills too!  

Compare sign-up discounts and other incentives 

Look for providers offering bundling discounts (having both your electricity and gas with the same provider), sign-up incentives or rewards programs. These energy discount offers can further reduce your overall electricity expenses. 

Review the fees and other charges 

Take into account any connection fees, late payment fees or early exit fees which may come with the plan. Understanding the complete fee structure will help you identify the plan with the lowest overall costs. 

Consider renewable energy options 

If sustainability is important to you, explore providers which offer green energy plans, renewable energy options like GreenPower or carbon offset programs. Supporting clean energy sources can help reduce your environmental impact by encouraging retailers to buy more renewable energy generated by the sun and wind.  

Look at the feed-in tariff if you have solar panels 

If you have solar panels installed, it's important to compare the feed-in tariff offered by electricity providers. The feed-in tariff (also called the pay-back rate) is the rate at which they pay you for the extra electricity your panels produce and send back to the grid. The higher the feed-in tariff, the more money can end up in your pocket from your solar panel system. 

When comparing solar electricity plans, look at both fixed-rate and variable-rate feed-in tariffs. A fixed rate means you get paid the same amount for all the electricity your panels generate. A variable rate means the payment changes based on when you export electricity, usually higher during peak times and lower during off-peak hours. If you have a battery installed with your solar system, you can choose the times when you export power back to the grid to take advantage of the highest pay-back rates. 

Compare electricity plans side-by-side  

You can use Savvy's free comparison service to instantly compare electricity plans from some of Australia’s leading providers online. We make it easy for you to evaluate and compare different energy plans side-by-side so you may be able to find the most cost-effective option for your personal needs. It’s as simple as choose, switch and save with Savvy! 

How do I switch to a cheaper electricity plan?

The process of switching your electricity plan to a cheaper and better option is easy when you do it through Savvy. Follow these simple steps: 

Fill out a quick online form

Start by filling out a quick online form with information about you and your energy profile, such as where you live and what sort of energy plan you’re after. 

Compare available offers

Once you’ve done this, you’ll be provided with available electricity plans to compare. Having a recent energy bill to hand will help you refine your quote further with information such as your current plan’s cost and your usage.  

Make the switch

If you find an energy deal you’re happy with, which is cheaper than your current plan, you can go ahead and make the switch right away online. All the change-over details will be sorted for you, including a final meter reading from your old supplier.

How can I reduce the cost of my electricity bills?

Some simple yet effective ways to help you reduce your electricity bills include: 

  • Turn off all lights and appliances when not in use 
  • Use energy-efficient LED light bulbs instead of traditional incandescent ones 
  • Make use of natural light during the day by opening curtains and blinds 
  • Set your thermostat to an energy-efficient temperature  
  • Insulate your home properly to prevent heat loss in winter and keep it cool in summer 
  • Use ceiling fans to circulate air and reduce your reliance on air conditioning 
  • Opt for energy-efficient appliances with the highest star ratings possible 
  • Wash your clothes in cold water whenever possible 
  • Dry clothes outdoors on a clothesline instead of using a clothes dryer 
  • Unplug electronics and chargers when not in use to avoid standby power 
  • Use energy-saving settings on your computer, monitor and laptop to save on battery power and reduce energy use 
  • Install solar panels to generate your own renewable energy 
  • Take shorter showers to reduce hot water use 
  • Use a microwave or toaster oven instead of a conventional oven when cooking for one wherever possible 
  • Consider energy-efficient upgrades, such as insulation, double-glazed windows or energy-efficient heating and cooling systems 

Types of energy plan

Why compare energy plans with Savvy?

Frequently asked questions about cheap electricity plans

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

Yes – several electricity plans in Australia offer energy monitoring apps for your phone. These apps provide access to valuable features such as real-time energy usage monitoring, bill payment, and personalised energy-saving tips. By using such an app, you can track your electricity consumption, manage your account, and potentially reduce your energy costs by getting alerts when your usage is high. To utilise these features, a smart electricity meter may be required. 

Can I switch to a cheaper electricity plan if I'm currently on a fixed-term contract?

Switching providers during a fixed-term contract may result in early exit fees. It's essential to review the terms of your contract and assess whether the potential savings from switching outweigh potential early exit fees. However, once your fixed-term contract expires, you are typically free to switch providers without any penalties. 

Can I also find cheap electricity rates for my business?

There are electricity plans specifically designed for businesses, which you can compare online here through Savvy. These plans take into account the unique energy requirements of commercial and business operations and can offer competitive pricing to help reduce overhead costs. Comparing these offers through us can help you determine which offers the cheapest rate while still providing the services your business needs. 

How long does it take to switch to a cheaper electricity plan?

The switching process typically takes only one to two days. During this process, your new provider will coordinate the transfer, arrange for a final meter reading to be taken by your old provider and help you make a seamless transition without any interruption to your supply. 

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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.

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