Retailer Comparison | BY Vimal
Have you just received your latest electricity bill and can’t believe how expensive it is? Or are you moving home and in search of a new electricity provider?
Electricity pricing structures can be confusing, with the Victorian energy market offering more than 20 electricity providers and over 60 energy deals. It’s a time-consuming process to do the research, calculations and understanding the discounts of each offer. So it can be difficult to know if you are getting a fair deal.
This is where we come in! Electricity Monster is here to take away all the hassle! We’re here to compare electricity rates and provide free advice on the cheapest electricity deals we can find in the market to suit your needs.
Below we have compiled a list of our top 10 electricity deals available in the CitiPower network. We have ranked the plans based on the lowest estimated price, including conditional discounts if applicable.
10 Best Electricity Deals Victoria*
|Retailer||% Less Than VDO||Estimated Price*|
*All calculations above are based on a single rate tariff, with a default electricity household annual usage of 4000kWh and are compared to the Victorian Default Offer (VDO) Reference Price of $1,270.
^ Powerclub Powerbank Home Flat – Estimated price includes an annual $39 membership fee
^ Energy Australia Total Plan – Estimated price includes a $25 credit per new energy account on your first bill when you sign up
Give us a call on 1300 232 848 and have a friendly chat with one of our energy experts for fast, free and fair advice.
About the Cheap Electricity Deals Victoria
Now let’s take a look at the energy providers that have made it onto our 10 cheapest deals available in Vic.
Powerclub – Powerbank Home Flat
Coming in the top spot is Powerclub with their Powerbank Home Flat Plan.
This electricity retailer boasts a highly competitive market offer that sits relatively lower than the VDO.
Here’s the catch though! Participants are required to pay an annual $39 membership fee. To add to that, customers must make a minimum one-off contribution to their Powerbank of $40 per 1,000 kWh of annual consumption. Lastly, monthly payments must be via direct debit.
Their Bill Smoothing technology helps to split your bills evenly and reduce bill shock.
Simply Energy – Simply Blue
Let’s take a closer look at another one of our partners, Simply Energy. They have been providing Australian households with simple and affordable energy since 2005.
Simply Energy has numerous partnerships with leading Australian companies, which means that some plans come with specific perks, rewards and discounts.
With several plans to choose from, it’s their Simply Blue offer that makes our list of top energy deals available to you in Victoria.
To be eligible for this offer, you must not be an NRMA customer. However, you will be automatically signed up to a complimentary 12 month NRMA Blue Membership.
This membership gives you heaps of benefits and discounts that’ll help you save on things like fuel, dining, travel, insurance and much more. All these perks included in your electricity bill sounds like an absolute steal to me! Lucky you!
This plan’s excellent benefits and competitive price puts Simply Energy on our list of best electricity deals in Victoria.
Kogan Energy – Market Offer
Kogan Energy has made our list of top deals in Victoria with their Market Offer plan.
This plan has a monthly bill frequency and only accepts a direct debit payment.
But it’s no contract term, and zero exit fees make your life so much easier if you decide to switch retailers!
QEnergy – Mini Me Home
QEnergy gives customers the best rates they have to offer in their electricity plans.
They pride themselves on excellent customer service by providing ongoing advice and fulfilling customer promises.
A customer must have a credit history deemed satisfactory by QEnergy to be eligible for this deal.
A no fixed-term commitment and zero exit fees make this a competitive offer we can find in the market.
Momentum Energy – Self Serve
Coming in next at a competitive price is Momentum Energy with their Self Serve Plan. This is an ONLINE ONLY offer, and the only requirement is for monthly bills to be paid via direct debit.
Momentum Energy is well known to be the most significant contributor to renewable energy in Australia.
Choosing to go with Momentum Energy as your provider helps them grow in the market and contributes towards Australia’s renewable energy sector.
Energy Australia – Total Plan
Energy Australia makes up one of the Big 3 energy providers in Australia, supplying electricity to more than 1.7 million Australian customers.
They are committed to providing cleaner energy in Australia through their Go Neutral program. This allows customers to offset the carbon emissions of their energy usage at no extra cost.
Energy Australia has 3 residential energy deals to choose from, but their best offer is their Total Plan which is less than the VDO.
The offer includes a fixed-rate period, a carbon-neutral option at no extra cost and a guaranteed discount off your total energy bill. Also, you receive a $25 signup credit per new energy account on your first bill when you sign up online.
Click Energy – Holly
A stunning offer from Click Energy has made it into our list of best deals in Victoria with their Click Holly offer.
With this offer, you can opt for your monthly bills to be emailed to you for a hassle-free situation.
This plan includes flexible payment options, monthly billing, no lock-in contract and zero exit fees.
Tango Energy – Home Select Plan
Next up we have Tango Energy with their Home Select Plan. This deal offers you a low and simple price that’s less than the reference price.
The Home Select offer includes a fixed rate for a minimum of 12 months, with no lock-in contract or exit fees.
Tango Energy’s exceptional customer service and simple plans offer you low prices to save and support Australia’s rising renewable energy sector.
AGL – Essentials
AGL has been in the energy market for an extensive number of years. They boast Australia’s largest electricity generation portfolio and provide energy to residential, commercial, and wholesale customers.
AGL has 2 residential electricity deals on offer, but its Essentials plan is the best value for price. The offer includes fixed-term rates for 12 months, no exit fees and flexible billing options.
Also, this plan helps you collect flybuys points. By simply linking your AGL account to flybuys, you can collect 1 point for every $2 you spend on your AGL gas and/or electricity bill if you receive paper bills. But if you switch to eBilling, you could score 1 flybuys point for every $1 spent on gas and/or electricity bills.
1st Energy – Prepay Value
Up next on our list of best deals is 1st Energy. Founded in 2014, they’re an Australian based energy retailer. They provide customers with peace of mind that their electricity is taken care of.
With several plans on offer, it’s their Prepaid Value deal that stands above the rest. To be eligible, you are required to prepay an immediate amount of $1000.
This shows up as a credit on your account and will be used to pay off your electricity bills. But don’t worry as any remaining balance will be refunded at the end of the contract.
This plan features flexible payment options, monthly billing, no lock-in contract and zero exit fees.
So if you’re looking to prepay for your electricity, then the Prepay Value deal from 1st Energy may be the best option for you.
Origin Energy – Origin Go
Origin Energy prides themself on getting energy right by making it affordable, sustainable, smarter and easier.
Origin Energy has 2 residential home plans on offer. But, it’s their newest offer, Origin Go, that slides into our list of the cheap deals.
The Origin Go plan offers a 12 month fixed rate with flexible payment options, no lock-in contracts or exit fees, and easy access to the Origin App to track your energy usage.
This plan also has 2 various applications; One for regular customers and the other for existing Everyday Rewards Members.
Everyday Rewards members have the opportunity to collect points with their energy. They get 1 point for every dollar that they get charged on their energy bill. Everyday Rewards members are also entitled to a one-off 5000 bonus points on signup for each energy type.
To get all this, all you’ve got to do is link your Everyday Rewards number when you sign up! But if you’re not an existing member but want all these benefits, sign up for the Everyday Rewards program before getting this plan!
How do I get some of the cheapest electricity deals in Victoria?
If you’ve made it this far, It’s safe to say that you are very much interested in getting a better deal! You’ve read about all of our best energy deals available in the Vic area!
What are you going to do about it?
Now you could just go on and pick the cheapest energy deal from our table. BUT it’s really important to consider certain factors before selecting a plan; like your household usage, your meter configuration and specific plan features.
A fast solution is to GIVE US A CALL on 1300 232 848 today! Use our 100% free comparison service to get yourself a better deal!
We’ll help you compare the best electricity rates we can find that Victorian energy providers have to offer and choose a fair plan to suit YOUR needs.
You could try living in the dark to save on your energy bill, or you could give our 100% free service a call today and see if you can get a sharper rate!
Life’s too short for expensive bills! Leave the admin to us!
*Important points to note are:
- Some plans may require you to meet certain conditions before a discount becomes available to you. Check the energy provider’s plan information for details of all possible discounts that may apply and any conditions that need to be met to be eligible for these discounts. Consider the provider’s detailed product and pricing information before making a decision to take out a new plan or switch electricity providers.
- For Victoria, calculations are based on a single rate tariff in the CitiPower network with an annual household usage of 4,000kWh and ranked plans based on an estimated price including GST and any discounts, both conditional and unconditional. The reference % has been calculated based on comparing the difference between the plan unconditional price to the Victorian Default Offer of $1,420. The terms of any conditional discounts are shown, along with any further difference between the reference price and the discount applied if a condition is met, expressed as a percentage more or less than the reference price.
- All calculations have been based off the Price Fact Sheets taken from the respective retailers’ websites.
- The information in this blog cannot substitute for legal advice. No financial decisions should be made based on information from this blog.
- This data is accurate as of 08/02/2021