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Start comparing electricity, stop fearing bills
Electricity can be confusing, but switching is a lot easier than you think.
Currently available in NSW, ACT, SA, VIC, parts of QLD, TAS & WA (only Gas). Not available in Ergon Area (QLD), NT and embedded networks or non-quotable meters.
Shopping around for a better electricity plan can help you lock in the biggest savings. You should ideally be comparing plans every 6 to 12 months to see if there's a better deal available.
Compare usage rates
Don't just look at the discounts being offered by a provider. Compare both usage rates (cents per kWh) and daily supply charges. Our average cost of electricity page can guide you here. Just keep your last bill handy.
Understand the reference price or default offer
The reference price applies to households in NSW, SA, southeast QLD and the ACT. In VIC it's known as the Victorian Default Offer. Some other terminology you'll see floating around is benchmark pricing or default offer. This is set each year on 1 July by energy regulators. It's in place to help you compare plans. You always want to get a plan that's below the reference price.
Look out for additional costs
You should also compare extra costs by electricity retailers such as credit card fees, move-in fees and disconnection charges. One retailer may charge you around $13 for disconnecting you, another could charge you $44.
Understand your household's energy consumption
Knowing how much electricity you use and when you use it can aid you to pick a tariff type that can help you minimise your costs. For example, if you're home during off peak hours and happy to run your power hungry appliances then such as a clothes dryer, a time of use tariff can help you with a lower usage rate for this period. Read our guide to energy tariffs to see how you could save by switching to a different one.
Look at average electricity bills for your state
Use our guide to average energy bills by state to see if you're paying more or less than the average. If you're paying well above this, it might be time to compare, switch and save.
Australians spent $1.1 billion in loyalty tax on electricity in 2023
The cost of electricity has jumped again this year. NSW and VIC residents are paying $334 and $232 a year more than they should respectively. Find out how much more you're paying on your utilities bill.
Energy prices have gone up a lot but I've found it can also be useful to check how much energy is actually being used. My last bill was higher than I expected – both in price and usage. Turns out our old electric hot water system was malfunctioning, which meant it was using more energy and more water. We've replaced it with a newer, energy efficient model, which should be reflected in our next energy bill.
Guaranteed discounts. These are discounts which you don't have to do anything special to get. However, they'll usually only apply for a certain period of time after signing up with the retailer, so they aren't a forever solution to your power costs.
Conditional discounts/credits. These are, as stated in the name, conditional. That means you will only receive the benefit so long as you meet the conditions, which might not be practical or possible all the time for you or your household. It's better to look for guaranteed discounts that you'll receive no matter what.
Incentives. Incentives are designed to lure you into switching from your current energy provider to another one. They usually take the form of perks (like movie tickets or Qantas Points) and sign-up credits. Since these are one-off things, you're better off choosing the energy plan that will better suit your needs in the long run, though we discuss some of the better incentives available below.
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Why is my electricity bill getting so expensive?
Besides inflation, the main driver of rising prices is wholesale energy costs that makeup a third or a half of our electricity bill.
This is impacting households and small businesses in NSW, VIC, SA, QLD and TAS with prices going up by 9.5% to 25% - VIC's the hardest hit and TAS is least impacted.
Besides this, a few reasons your bills could be more expensive are:
Since heating and cooling already make up about 40% of your bill, more time at home means more temperature control. This is a common culprit for inflated power bills, and you can find more about how to minimise costs in our heating and cooling guides.
You're using energy inefficient appliances that are power guzzlers and can add hundreds of dollars to your bill.
The discounts on your electricity plan have expired. Many electricity plans will give you a fixed discount for the first 12 months or so. Once that period has expired, the prices will rise again leading to a sudden spike in your energy bill. Comparing your electricity plan and finding one with better rates will go a long way to lowering it again.
How do I understand the jargon on my electricity bill?
Reading your electricity bill can be daunting if you don't know what any of it means. Check our glossary so you can understand what the jargon means.
Pricing features
Feature
What it is
Supply rate
A supply rate is the amount you are charged per day, regardless of usage.
Usage rate
A usage rate is the amount you are charged for energy use.
Prepaid packs
Prepaid packs let you pay for energy ahead of time, based on how much energy you expect to use.
Wholesale rates e.g. Amber
Purchase energy at the same rate retailers have access to, updated every 30 minutes. Usually involves a membership fee.
Fixed rates
Usage and supply rates are set to a single value for the duration of the benefit period.
Variable rates
Usage and supply rates can change at short notice, raising or, occasionally, lowering.
Contract features
Feature
What it is
Exit fee
The amount you pay if you leave a fixed-term contract before it expires.
Disconnection and connection fees when you move
Fees charged to have your gas and power connected or disconnected when you move to or from a property.
Disconnection and reconnection fees for non payment
If you fail to pay your energy bills, your retailer might disconnect your house and charge you an extra fee to reconnect it later.
Discounts and incentives
Feature
What it is
Guaranteed Discount
This is a discount on your usage and/or supply rates that applies no matter what for a set period.
Pay On Time Discount
A discount that applies to your whole bill so long as you're never late with payments.
Incentives
These are bonus features offered to customers. They could be rewards, extras, frequent flyer points, etc.
Bonus Signup Credits
Extra bill credit offered to new customers signing up to the plan.
Tariff types
Feature
What it is
Time of use
Usage costs depend on when you use your energy, split up into peak, off-peak, and sometimes shoulder periods.
Single rate tariffs
All energy use is billed at the same usage rate, regardless of time of use.
Solar features
Feature
What it is
Feed-in tariff
The rate paid for excess solar energy fed back into the grid. Certain plans will include this feature.
Solar rebate
This a refund that you might be eligible to receive from the government for your solar panels.
Green features
Feature
What it is
GreenPower
An optional extra where a certain percentage of your energy is guaranteed to come from renewable sources.
GreenAward
Rates retailers on a number of criteria, including environmental performance, support for clean tech, GreenPower options, and more.
Customer service features
Feature
What it is
Customer service rating
A composite score from Finder taking into account call centre hours, ease of access, financial hardship support, and more.
Call centre hours/weekend hours
What time of day you can get in touch with the call centre and receive help.
Financial hardship program
Programs in place for people who can't afford to pay their bills or are having cash-flow issues.
Online chat
Availability of online chat services for real-time assistance.
Usage management app
Apps for tracking your power usage and keeping an eye on solar production.
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Jen Snell's tip
To make sure I remain on a competitive plan, I review my energy provider and plan annually. It might sound like overkill, but it's not - promotions and pricing change annually so if you aren't comparing each year, it's likely you're not on the best plan. I always check what promos are out there and consider what saves me the most. I like paying via direct debit for electricity so direct debit and pay on time discounts are a winner for me. Always consider the saving alongside the cost of the plan though and don't pay more just to access a promotion if the total cost doesn't stack.
— Jen Snell, Finder crew member
Why compare energy with Finder?
We know our stuff. Our experts review hundreds of plans each month. It's hard work, but we love it.
You can rely on us. We update plan data on dozens of providers daily, and we're constantly fact-checking.
We're here to help. We've helped millions of Aussies find cheaper energy. That's pretty powerful.
Frequently asked questions
Electricity is charged per kilowatt hours and the cost can vary between states as they can have their own set of laws and regulations to determine the supply cost of electricity. Read our state-by-state guide to the average cost of electricity for the month.
The cheapest electricity provider will vary between states. You can check out our guide to the cheapest electricity plans to see which provider is offering the biggest savings.
There's no one best provider that services all areas of the country. What we have is a round of the best electricity plans per state that we expertly pick each month. We look at price, features, awards and more to choose our top picks.
Mariam Gabaji is an editor and tech and utilities expert at Finder with 12+ years of experience as a journalist. She's committed to helping households cut through the industry jargon and save money on their bills. Her expertise is often featured in media including the ABC, Yahoo Finance, 9News, 7News, A Current Affair, The Guardian, SBS and Money Magazine. See full bio
Mariam's expertise
Mariam has written 258 Finder guides across topics including:
Energy Australia vs Origin: Find out who will save you more money.
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