If you’re looking to reduce your energy bill, consider comparing electricity and gas providers in Victoria to find the cheapest plans in the state.
Victoria’s energy market is a competitive one, with dozens of providers to choose from. In 2009, the market was deregulated, which meant gas and energy providers in Victoria were able to set their own prices. Given it’s a crowded market, providers compete fiercely on price to try and win more customers.
So, if you think you’re paying too much for your energy needs, you can shop around for a better price or service. Comparing gas and electricity providers in Victoria is easy, as is making the switch if you’ve found a new provider that meets your needs.
While you’re comparing providers, it’s important to remember not just to analyse the price but also fees, charges and discounts, as they play a significant role in determining how much you’re going to pay for power every month.
What is the average cost of energy in Victoria?
The Australian Bureau of Statistics’ Consumer Price Index says the average weekly electricity cost for people living in Victoria’s capital Melbourne is roughly $28.85. But residents with gas and other household fuels end up paying slightly less, at an average of $22.27 each week.
The ABS report shows Melbourne’s average weekly cost is lower than other capitals in the country. Darwin tops the list at an average of $45.50 per quarter.
Fixed vs variable rate plans: What’s the difference?
Most gas and electricity plans come with variable rates, which means that the prices can fluctuate over the cycle. It’s crucial to review your power bills periodically to avoid bill shock. If you’re worried about changing rates, you could consider switching to a retailer with fixed-rate plans, where the rates are locked for a set term.
Fixed-rate plans were first introduced by three of the biggest electricity and gas providers: AGL, Origin and EnergyAustralia. Following their lead, many other energy providers like Tango Energy now offer fixed-rate plans as well. To determine what works best for you, consider comparing various electricity and gas plans to see how the prices may differ.
What are prepaid energy plans?
In addition to variable and fixed plans, you can also choose prepaid power deals, which several energy providers offer. These plans allow you to purchase a set amount of power in advance, which you can use whenever you want.
If your pre-purchased energy runs out, you need to ‘top-up’ and get more energy. One of the least expensive electricity and gas providers that offers prepaid energy plans is Elysian Energy.
What concessions and rebates are available in Victoria?
The Victorian government provides multiple energy concessions and grants to give relief to customers who may be facing hard times. These concessions and rebates cater to low-income households by covering the costs of electricity, gas and LPG.
For example, eligible households in disadvantaged areas could apply for the Energy-Water Taskforce program. This program provides up to $300 worth of energy and water-saving products while covering the cost of installation.
If you’re having trouble paying your bills, an energy rebate may help. To qualify for a rebate, you need to fulfil certain criteria or have a valid concession card. If you are eligible for a rebate, you can choose between two options; a flat amount back, for example, $50 or a set percentage of your total power bill amount. You can read more about the Victorian Government’s rebates here.
What is the future of energy in Victoria?
The Victorian Government has a roadmap for the future of energy in the state, which includes investing in renewable energy technologies. For example, you can enter into a solar purchase agreement (PPAs), which will enable you to get roof-top solar panels installed with little to no upfront costs.
According to the PPA, the solar company needs to maintain the panels as well, for a predetermined cost that the homeowner will pay. You can read more about the solar offers here.
