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Compare Electricity Plans 

Compare electricity plans all in one place to find the cheapest possible deal here through Savvy.

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, updated on April 16th, 2024       

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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
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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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Electricity is a vital utility for any home or business, but comparing plans and choosing the right deal is all about knowing where to look. With so many different plans and providers available, it can be overwhelming to try to compare electricity rates and different types of plans.  

This is where Savvy can help save you time and hassle. Our 100% free comparison service will allow you to compare the latest electricity plans within a few minutes. By comparing electricity plans online here through us, you’ll instantly be able to see offers from some of Australia’s top energy retailers. Get the process started here through Savvy today. 

How should I compare different electricity plans?

There are quite a few factors to consider when you’re looking to find the best energy plan for your household. Some of the comparison points you should look at include: 

Types of plan 

There are two different sorts of electricity plan to choose from:  

  • A standard contract gives you the appropriate electricity price which is set by law in your state with no bells or whistles. It may be slightly more than a market contract, but you can change it at any time without paying exit fees.  
  • A market contract comes with special conditions, often price discounts, which last for the period of the contract. There are usually exit fees applicable if you wish to switch providers during a market contract term. 

Variable vs. fixed rates for market contracts 

When you sign up for a market electricity contract, you may have the option of choosing between variable or fixed rates. Variable rates can change over time based on national market price changes and may be subject to sudden spikes or drops in price. Fixed rates, on the other hand, remain the same for a set period, providing greater predictability and stability for your energy costs. 

Overall cost of the plan 

All retailers provide offers based on the electricity reference price and average usage in your area. They also quote a percentage difference between their own price and the national reference price, so you’re able to compare costs. For example, one company’s electricity plan may be 4% less than the reference price, while another may be 3% less. This is a good comparison point to start with, as this helps you know you’re comparing apples with apples. 

Discount offers 

Electricity discount offers are often advertised as a way to save money on your energy bills. These discounts can come in various forms, such as a percentage off your bill, a set dollar amount off your bill, or a combination of both. However, it's important to carefully read the terms and conditions of the discount offer, as some discounts may only be available for a limited time or may have certain eligibility criteria. In some cases, the discount may only apply to a portion of your bill, while other charges (such as the supply charge) remain unchanged. 

Tariffs  

There are many different tariffs which can be charged for electricity, ranging from: 

  • Single rate tariff: the cost per kWh is the same regardless of when you’re using the electricity 
  • Time of use tariff: this tariff has different rates for different times of the day, such as peak, off-peak and shoulder periods. Peak periods are when electricity demand is highest, while off-peak periods are when demand is lowest. 
  • Controlled load tariff: designed for high-demand appliances, such as a hot water system, underfloor heating or a pool heater, and billed at a separate rate from standard electricity usage 
  • Demand tariff: this tariff is based on the highest amount of electricity you use during a specific period, regardless of the time of day 

The best tariff for you will depend on your electricity usage, when you use the most energy and what types of appliances you use it for. Having a clear idea about how and when you use electricity (which you can see from a recent electricity bill) will help you choose the most appropriate plan for your particular usage. 

Feed-in tariff  

A feed-in tariff is a program which allows homeowners with solar panels to sell excess electricity generated by their solar system back to the power grid. This tariff is also referred to as a ‘solar tariff' or ‘buy back rate' and is measured in cents per kilowatt-hour (kWh). Therefore, if you do have solar panels on your roof, a major consideration will be the feed-in tariff you receive.  

The rate you may be able to receive for your excess electricity isn’t fixed and depends on various factors, such as: 

  • the type of solar system you have 
  • whether you’re eligible for government solar rebates 
  • the rate set by your state government 
  • if your provider offers any additional feed-in rate on top of the state government's set rate. 

Fees 

Look at the fees that are charged by the provider, including: 

  • connection and disconnection fees 
  • credit card and direct debit fees 
  • late payment fees 
  • early exit fees 
  • paper bill fees (that may be charged if you choose to receive your bills by mail instead of online). 

Comparing fees will help you see which provider is offering the lowest fees as part of their billing package. 

What’s the process for comparing electricity plans through Savvy?

Comparing electricity plans through Savvy is as simple as 1, 2, 3. Just follow these simple steps to use our handy free comparison service: 

Give us some simple information

Tell us what kind of electricity plan you want and how much energy you usually use. If you have solar panels, let us know what the feed-in tariff you are receiving is and how much electricity your solar system generates 

Compare available offers

You’ll instantly be shown electricity plans which are available in your area, so you can compare the different plans and see how much you could potentially save by switching providers

Make the switch

If you find a cheaper electricity plan than what you already have, you can switch providers online all in one place and start saving money almost immediately 

There’s no need to worry about annoying sales calls, as you can pick the plan you like and have the switch handled for you. Once this has been completed, your new provider will contact you to finalise the connection. 

It's a super easy process which allows you to compare and switch electricity plans online without any hassle. Compare with us today and start saving money on your electricity bill! 

Top tips for reducing the cost of your electricity bill

Cut down on your energy use

Turn off all lights and electronics when you’re not using them. By being mindful of your energy usage and turning off lights and electronics when not in use, you can reduce your energy bills and overall carbon footprint. 

Upgrade to energy-efficient appliances and light bulbs

By investing in energy-efficient appliances and light bulbs, you can save money on your energy bills and help reduce your impact on the environment. 

Take advantage of time-of-use tariffs

Time-of-use tariffs can offer significant savings if you shift your electricity usage to off-peak hours. This means running your appliances and using electricity when demand is lower, typically in the evenings and weekends. 

Compare plans and choose a better deal through Savvy

By comparing plans through Savvy, you may be able to find a plan with a lower rate, lower additional fees or higher feed-in tariff, saving you money on your energy bills. 

Types of energy plan

Why compare energy plans with Savvy?

Frequently asked questions about comparing electricity plans

How do electricity plans work when I’m moving house or relocating?

When moving house or relocating, you may be charged disconnection and reconnection fees. You may be charged a termination fee if your contract can't be transferred to your new property (if you are moving interstate from Victoria to South Australia, for example). Notice of at least five days or more is usually necessary to guarantee a smooth transition to a new electricity provider.  

What are green energy plans?

Green energy plans are plans which provide electricity from renewable sources such as wind or solar power. This type of plan is ideal if you want to reduce your carbon footprint and support sustainable energy sources by choosing a carbon-neutral energy plan.  

Can I switch electricity plans at any time?

Yes – you can switch electricity providers at any time. However, if you’re currently on a market contract which has several months left to run, you may be subject to early exit fees if you decide to switch providers before the end of your contract. 

How long does it take to switch providers?

The switching process typically takes around two to three business days to complete. However, some providers may have faster or slower processing times, so it's best to check with your new provider for an estimated timeframe. 

Can I switch energy providers if I receive a government energy rebate?

Yes – you can still switch energy providers if you’re in receipt of a government energy rebate. However, you should check with your new provider to ensure that the rebate will be switched over correctly so you can continue to receive cheaper electricity.  

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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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