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Cheap Energy Plans 

Looking for a cheap energy plan? Compare plans from some of Australia's leading energy retailers through Savvy. 

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, updated on August 11th, 2023       

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

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Engie
Momentum Energy
Tango Energy
AGL

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

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Are you tired of paying high gas and electricity bills and looking for a cheaper energy plan? With the wide range of energy plans available, it can be hard to know which one is the best fit for your needs and budget. That's where Savvy comes in. Our 100% free energy comparison service can help you find the cheapest energy plans available from a range of leading energy providers.  

By comparing plans and rates, you can potentially save hundreds of dollars each year on your energy bills. So why pay more when you could find a cheaper energy plan and make the switch all in one place? Start comparing your options today with Savvy and see how much you could save. 

What factors contribute to cheaper energy plan?

There are a few key factors you should consider when comparing energy plans, including: 

Usage rates 

Look for a plan with the lowest usage rates. This is the amount you pay for each unit of electricity you use, measured in kilowatt-hours (kWh) for electricity or megajoules (MJ) for gas. 

Tariffs 

Tariffs describe the pricing structure that you are charged for your energy. While there’s only one set rate for gas, there are often block rates which apply for gas usage. This means you can be charged one price for the first block of gas you use (a block is a set number of megajoules) and another price for subsequent blocks of use.  

Electricity tariffs are a little more complicated, with some retailers having up to five different tariffs. These include: 

  • Single rate tariff: this is the simplest and most common tariff available, where you pay a single fixed rate for each unit of electricity you use 
  • Time of use tariff: this type of tariff charges you different rates depending on the time of day and day of the week that you use electricity. Peak times (usually during the day and early evening) are charged at a higher rate, while off-peak times (usually overnight or at weekends) are charged at a lower rate. 
  • Controlled load tariff: this type of tariff is specifically for certain appliances such as hot water systems or pool pumps, where you’re charged a lower rate for electricity used during a specific period, typically overnight. Often the appliance has its own electricity meter and may be described on your bill as a ‘dedicated circuit.’   
  • Demand tariff: this tariff is based on your highest usage during a certain period, usually a month. You pay a fixed charge for the maximum amount of electricity you've used at any one time, rather than the amount of electricity you use overall. 
  • Feed-in tariff: if you have solar panels installed, you may be eligible for a feed-in tariff. This is where you’re paid for the excess energy your solar panels generate which you don’t use and feed back into the national grid. 

Supply charges 

A supply charge is a daily fee which energy retailers charge customers for supplying electricity or gas to their premises. It covers the cost of maintaining the energy network and infrastructure which delivers energy to customers' homes or businesses. The supply charge is a fixed cost, regardless of the amount of energy consumed and is measured in cents per day.  

Renewable energy options  

If you’re interested in reducing your carbon footprint on the world, many retailers offer renewable energy options. Look for plans which offer green energy options or carbon offsets. Such options encourage retailers to purchase energy that has been generated by renewable energy sources such as the sun and wind. It may cost a little more, but you’ll have the satisfaction of knowing that you’re assisting Australia’s switch to renewable energy by helping to fund the building of new renewable energy infrastructure.  

Fees 

Check for additional fees such as connection and disconnection charges, late payments fees, credit card fees, paper bill fees and so on. These can add up quickly and significantly increase your bill. 

Discounts 

Check for any discounts available, such as join-up bonus offers, pay-on-time discounts or direct debit discounts. These can help you save money over the life of your energy plan. 

Contract terms 

Consider the length of the contract and whether there are any exit fees if you choose to switch providers before the end of the contract. Longer contracts (ie. ones which last more than a year) may not be cheaper than variable-rate contracts, but they may provide some certainty about the cost of your energy use. 

How do I find a cheap energy plan?

If you're looking for a cheap energy plan, one of the best things you can do is compare offers from different energy providers to find one that may offer you the best overall deal. At Savvy, we offer a free comparison service to help you find the best plan for your personal needs. Just follow this simple process to get your comparison underway: 

Provide your location and usage information 

To compare energy plans and find the cheapest option, simply provide us with some information about your location, energy usage, and whether you have a solar energy system or not. This will include details about your current energy plan and how much energy you use, so if you have a recent energy bill available that would be especially helpful. 

Receive multiple offers and compare them 

When comparing energy plans, it's important to consider not just the price, but also the features of each plan. For example, some might include bonuses or plan discounts for signing up, while others might have different payment options which could help you manage your bills. These plan features will vary from state to state: for instance, comparing energy plans for New South Wales is different from doing so in South Australia.  Make sure you read through the details of each plan carefully so you can make an informed decision. 

Choose a new plan 

Once you've found an energy plan which fits your needs and budget, you can select it and have the rest handled for you. Your chosen new energy provider will contact you to help make the switch as smooth as possible. They'll arrange for your old provider to take a final meter reading and issue you with a final bill. 

Overall, comparing energy plans is often the simplest and best way to find a cheap energy deal. By using Savvy's comparison service, you can quickly and easily compare a range of energy offers and find the best one for your needs. 

Types of energy plan

Why compare energy plans with Savvy?

Frequently asked questions about cheap energy plans

Is it cheaper if I combine my electricity and gas plans?

Yes – combining your electricity and gas plans could potentially save you money, because if you bundle these services together with one provider you might be eligible for discounts or special offers which are offered as incentives to customers to combine their electricity and gas plans. However, the actual savings will depend on the specific deals which are available in your area and how your local energy provider set their prices. To find out if it's cheaper to combine your electricity and gas plans, compare bundled options with separate plans to see which one offers the best value for your energy needs. 

How often should I compare energy plans and switch to a new one?

There's no hard and fast rule about how often you should switch to a new energy plan. However, it's a good idea to review your plan every 12 months to make sure you're still getting the best value for your money. Additionally, if your circumstances change, such as if you install solar panels or move house, you should use the opportunity to review your energy plan and possibly switch to a cheaper, more suitable deal. 

Can I switch energy providers if I have a solar panel system?

Yes – you can switch energy providers if you have a solar panel system. However, you'll need to make sure that your new provider offers a feed-in tariff that is compatible with your solar roof system. When comparing energy plans, make sure to check the feed-in tariff rates offered by different providers in addition to usage rates and supply charges to find the best option for your circumstances. 

Will I experience any interruption in supply if I switch to a cheaper energy plan?

No – you won't experience any interruptions to your power supply if you switch to a cheaper energy plan. The switch should only take a few days and you'll be notified when it's complete. Your energy supply will continue uninterrupted and you'll still receive bills from your current provider until the switch is complete. 

Can I switch to a cheaper energy plan if I'm on a fixed contract?

Yes – you can switch to a cheaper energy plan even if you're on a contract. However, you may have to pay an exit fee if you leave your current contract early, so it’s important to make sure to read your contract's terms and conditions to understand any fees or penalties that may apply if you switch. Please note this may not apply to energy customers in Western Australia or the Northern Territory, because these states are not connected to the National Electricity Market and are subject to more restrictive state-based legislation.  

Is it possible to have a cheap energy plan with 100% renewable energy?

Many electric companies offer ‘green' electricity plans with varying degrees of renewable energy content. Some providers may offer plans with 100% renewable energy, which can be a good choice for people who want to work towards reducing their carbon footprint. However, green electricity plans are not yet cheaper than fossil fuel plans, and may sometimes be a little bit more expensive.  

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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.

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