Best Electricity Deals Victoria 2024

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10 Best Electricity Deals Victoria

Are you overpaying on your electricity? We know the feeling. You work hard day in and day out for your money, and it’s only right that you put it towards things that matter most – not for a basic necessity. At the end of the day, is there a cost-effective way to lower your energy costs? There is, and we have the solution for you. Electricity Monster can help. Call us now on 1300 232 848 as we can assess your power bill, compare energy plans, and provide many free solutions in as little as 15 minutes. In the table below you’ll find Victoria's best energy plans (based on price). With the increase in energy rates across all states, we've listed plans that are below the VDO/DMO.

Retailer % Below VDO* Price/year (Est.)
Tango Energy VIC
Value Select
34% $1,037
Kogan Energy VIC
Current Kogan First members
21% $1,052
Lumo Energy VIC
Lumo Value
27% $1,054
Energy Australia VIC
Flexi Plan
26% $1,077
Powershop VIC
Power House
20.9% $1,152
Pacific Blue VIC
Blue First
19% $1,174
Sumo Energy VIC
Sumo Switch
25% $1,183
Nectr VIC
Nectr 100% Clean
15% $1,189
AGL VIC
AGL Value Saver
15% $1,238
Energy Locals VIC
Online Member
15% $1,243

*Calculated based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network. The VDO reference price is: $1,571 / year. Click here to view plan energy fact sheets

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3 Electricity Deals in Victoria

Victoria boasts a wide range of energy plans with each offering something unique and different. Choosing the right deal, however, goes beyond savings which is why we also focus on other features including conditional discounts, incentives, variable and fixed rates, and more. Please note that plans are subject to change. Any questions regarding plan specifics should be directed toward the retailer. Want to see if we can get you a better deal on your electricity or want to compare cheap electricity deals in VIC? Call us on 1300 232 848 now.

Tango Energy - Value Select - 1st Place

In 1st place, we have Value Select plan by Tango Energy. This variable rate plan comes no lock-in contract and exit fees. Customers can also enjoy competitive rates. 

Some features of this plan include:

  • Low rates
  • No lock-in contract
  • Zero exit fees
Retailer % Below VDO* Price/year (Est.)
Tango Energy VIC
Value Select
34% $1,037

*Calculated based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network. The VDO reference price is: $1,571 / year. Click here to view plan energy fact sheets

Kogan Energy - Current Kogan First Members - 2nd Place

In 2nd place, we have the Current Kogan First Members plan by Kogan Energy. This variable rate plan comes with zero exit fees and no lock-in contract. In order to sign up to this plan, customers must be a Kogan FIRST member.

Some features of this plan include:

  • Must be a Kogan FIRST member
  • No lock-in contract
  • Zero exit fees
Retailer % Below VDO* Price/year (Est.)
Kogan Energy VIC
Current Kogan First members
21% $1,052

*Calculated based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network. The VDO reference price is: $1,571 / year. Click here to view plan energy fact sheets

Lumo Energy - Lumo Value - 3rd Place

In 3rd place, we have the Lumo Value plan by Lumo Energy. As the name suggests, this variable rate plan offers competitive rates and the benefits of no lock-in contracts and zero exit fees. 

Some features of this plan include:

  • Zero exit fees
  • No lock-in contract
  • Competitive rates
Retailer % Below VDO* Price/year (Est.)
Lumo Energy VIC
Lumo Value
27% $1,054

*Calculated based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network. The VDO reference price is: $1,571 / year. Click here to view plan energy fact sheets

Big 3 Electricity Plans VIC

Looking to compare plans by Origin Energy, Energy Australia, AGL? We’ve listed the 3 best electricity plans offered by the ‘Big 3’ energy retailers below. To see if you can get a better deal, give us a call or click on the button below and one of our energy experts will assist you.

Energy Australia - Flexi Plan

Energy Australia’s flagship offer the Flexi Plan is a variable rate plan that includes no exit fees or lock-in contract. When you opt into this plan, you get 100% carbon-neutral energy at no extra cost. A guaranteed discount off your total energy bill is available to certain states. 

Some features of this plan include:

  • No lock-in contracts
  • Guaranteed discounts off your energy bill for 12 months
  • Zero exit fees
  • Variable rates for both electricity & gas
Retailer % Below VDO* Price/year (Est.)
Energy Australia VIC
Flexi Plan
26% $1,077

*Calculated based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network. The VDO reference price is: $1,571 / year. Click here to view plan energy fact sheets

AGL - AGL Value Saver

AGL’s Value Saver plan is another variable rate plan with competitive rates and monthly billing. With competitive usage and supply rates and zero exit fees, there’s plenty to like about this plan. New customers may be eligible for a one-off payment credit on their first bill when they switch their home energy to AGL. 

Some features of this plan include: 

  • 12-month plan with zero exit fees
  • eBilling only
  • Variable rates
  • No lock-in contracts
Retailer % Below VDO* Price/year (Est.)
AGL VIC
AGL Value Saver
15% $1,238

*Calculated based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network. The VDO reference price is: $1,571 / year. Click here to view plan energy fact sheets

Origin Energy - Origin Go Variable

Origin’s Go Variable plan comes with competitive variable rates and no exit fees. Rates can vary due to changes in wholesale electricity prices, network costs and to the Victorian Default Offer (VDO).

Some features of this plan include:

  • No lock-in contracts
  • Zero exit fees
  • 12 month energy plan
Retailer % Below VDO* Price/year (Est.)
Origin Energy VIC
Origin Go Variable
8% $1,333

*Calculated based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network. The VDO reference price is: $1,571 / year. Click here to view plan energy fact sheets

How Do I Choose the Best Electricity Retailer?

The answer definitely isn’t black and white. Ideally, you’ll want to find the best electricity deal in Victoria, but sometimes it’s not that simple.

Comparing energy providers in Victoria can help solidify who offers the best plan that is particular to your home or business. It also helps to think about what your budget is, what incentives are being offered, and whether you trust the retailer or not. If you’re looking to find the best electricity deal, you’ll need to compare each retailer’s plans individually. The bad news is that this process can be time-consuming, stressful, and annoying. 

Phone us at Electricity Monster instead. In just 15 minutes, we can help you get connected to the best deal we have available. Our energy experts pride themselves on getting you a fair rate for a fair price. Give us a call now to learn more.

How Do I Find the Best Electricity Deals Where I Live?

Depending on where you reside, it is wise to compare rates between each provider so you end up with a plan that best fits your personal or professional needs.

For example, if you’re a solar enthusiast living in Sydney, the best electricity deal in VIC could be a retailer that offers a higher solar feed-in tariff rate. Or, if you’re big on discounts or incentives living in Victoria, the best electricity deal in Melbourne could be a retailer that offers an upfront discount, energy rebates or concessions for applicable cardholders.

If you want to compare your options, give us a call at Electricity Monster today. Our 100% free service helps compare retailers within our network to find you the best rate we have available. Isn’t it time you stopped overpaying for electricity and gas? Phone us now to learn more.

What Should I Be Looking For In An Energy Plan?

When it comes to electricity plans, not all of them are built equally. There are several factors that you should consider when choosing a new plan. Below, we’ve listed some of the more popular aspects of an energy plan you may want to look at before switching.

Fixed Rates or Variable Rates

A fixed rate on an energy plan means that the price of your energy won’t change during the life of the plan, regardless of market changes. A variable rate on the other hand, means that the price of your energy can fluctuate depending on market conditions or any changes to the Victorian Default Offer (VDO) or Default Market Offer (DMO). Some factors that can affect your rate include changes to the wholesale price of energy or network costs. Contact us today if you want to switch to a new energy plan or want to see your options.

Discounts

Some retailers may include conditional or guaranteed discounts when you sign up for an energy plan. It’s important to factor this in as it can help you save you on annual energy costs.

Benefit Period

Have you come across an energy plan with an extremely low rate and wondered why it’s so inexpensive? In some cases, short-term discounts are applied, lowering the total annual cost advertised. At the end of the benefit period however, the retailer can lower or completely remove the discount on the plan leading to a sharp rise in price. This is why it’s important to check your benefit period so you don’t get any surprises when your power bill comes in. Call Electricity Monster today if you’re on a higher rate or want to check if there’s a better plan for you. We may be able to secure a better deal, call now!

Features

Many retailers offer features that are inclusive after signing up with an energy plan. For instance, rewards programs are extremely popular with some retailers offering vouchers, discounts on popular Australian brands, and more. Remember, the energy market is extremely competitive, so comparing your options is important to ensure you get the best value for your money. Electricity Monster can help take out the guesswork in comparison shopping and we may even find you a better deal.

Customer Support

Not all retailers offer the same level of customer service and support. It’s important to understand that if you have general billing questions or enquiries regarding your service, you’ll want a prompt response and be able to speak with a customer representative so you can get a quick resolution, which is why you should compare each retailer individually.

Which Energy Retailer Offers the Best Electricity Deal?

Unfortunately, there’s no black-and-white answer due to the fact that every retailer offers something different. Whether that’s a heavily-discounted energy rate or a high solar feed-in tariff, it ultimately depends on your individual needs.

Analyse Your Needs

If you’re a solar owner, you may want to take advantage of solar feed-in tariffs which essentially give you money back for surplus energy you export to the grid. But, be sure to check other charges as some solar plans that offer a high feed-in tariff can be bundled with higher usage charges.

Another case is understanding your energy consumption as a household. If you’re a larger household, you may use more energy. So, by opting for an energy plan with lower usage charges, you may end up saving more in the long run.

Conversely, if you’re a household of one to two people, supply charges can make up a majority of your bill so you may want to consider a plan with lower supply charges.

Compare Electricity Plans to Weigh Your Options

It’s important to note that no “one size fits all” type of electricity plan exists. Whether you’re living with one other person or have a larger household, it’s wise to regularly compare plans and even speak to an energy expert to assess your actual needs. Call Electricity Monster today if you think you’re on a bad rate, and we’ll analyse your energy usage and help you find a fair deal on an energy plan that’s right for you. 

Am I Paying More than the Average Victorian Electricity Bill?

According to the Australian Energy Market Commission (AEMC), the average electricity bill in Victoria is $1,290 per year

How does this compare to what you’re currently paying? Is your retailer charging you more than the average Victorian electricity bill? If so, you have the right to be upset. 

Give us a call at Electricity Monster. Our 100% free service compares retailers within our network to get you the best electricity and gas deals in Victoria we have available. Stop overpaying for electricity and instead speak with our energy experts. In just 15 minutes, we can help find you a fair deal at a fair price. Call now.

Ready to Make the Switch?

If you’ve made it this far, It’s safe to say that you are very much interested in getting a better electricity deal. You’ve read about all of our best energy deals in VIC.

What are you going to do about it?

Now you could just go on and pick the best electricity prices from our table. But, it’s really important to consider certain factors before selecting a plan; like your household usage, your region, 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 in VIC we 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.

Isn’t it time you stopped overpaying for energy? Let Electricity Monster be your one-stop solution for all your energy needs. Call us now.

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Disclaimer

This publication reviews plans in VIC as of 01/07/2024.

Important Points to note are:

  • The plans displayed have been taken from the energy fact sheets published on the retailer’s website. We do not guarantee that this information is correct or that it applies to every household in Australia.
  • Comparisons have been made on the peak rates in single rate plans from retailers, plus their daily electricity supply charges.
  • The Citipower network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
  • The Ausgrid network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in NSW.
  • The SA Power Networks network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
  • The Energex network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in QLD.
  • The Evoenergy network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in the ACT.
  • The ACTO network has been used to compare gas plans in WA.
  • The reference price/VDO/GAS comparison will differ based on tariff type and location (distribution area). Your actual energy bill may be significantly different from these estimates if your usage differs from the average amounts used in this calculation.
  • The information in this blog cannot substitute for legal advice. No financial decisions should be made based on information from this blog.
  • The average electricity price in Victoria is drawn from the Australian Energy Market Commission (AEMC), Residential Electricity Price Trends 2021, Final report, 25 November 2021. This figure reflects the default energy usage of a 2 person household.
  • All dollar figures include GST.
  • The plans displayed may be different than those advertised.
  • The plans offered on this page may not be available in our call center.
  • ‘Get Best Offer’ is indicative of the best offer available in our database from our partners 
  • ‘Get More Info’ does not mean we will sign you up for the plan listed. Electricity Monster will provide offers in our database. We do not claim to be affiliated with the retailer.
  • When you click ‘Sign Up Now’ you agree to be contacted by our energy experts. Plans with said button are affiliated with our partnered retailers only.
  • Electricity plans are now compared to a regulated price called the Victorian Default Offer (VDO). This makes it easier to compare energy plans across the market. The VDO comparison and annual estimate is calculated based on an average usage customer.
  • When calculating our rates we include in the price/year estimate the GST (unless otherwise stated), any advertised non-conditional discounts (e.g. guaranteed discount), and any one-off credits.
  • What’s not included in the price/year estimate are conditional discounts, green energy charges, any concessions or rebates which may apply to you, solar feed-in tariff credits that your solar system could generate.
  • The VDO comparison will differ based on tariff type and location (distribution area). Your actual energy bill may be significantly different to these estimates if your usage differs from the average amounts used in this calculation.
Benjamin Tom

Benjamin Tom covers the retail energy market, with a focus on electricity, solar, and Internet. His interests include helping people navigate the complexities of the energy market while saving money on their power bills.