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Victoria is a beautiful and diverse state, miles of coastline, large cities and regional centres, mountainous regions, rainforests and endless rural planes. The green state, Victoria seems to have it all. When it comes to the electricity market the selection of providers is similarly wide-ranging and diverse, it is up to consumers to make the most of this competition.

The deregulation of the Victorian energy market that occurred in the 2000s, has been largely positive for consumers with a vast number of electricity providers servicing all parts of the state. Deregulation generally sees providers entering a market and in the Victorian situation, it was no different. This influx has seen Victoria develop into one of the most competitive electricity markets in Australia with companies vying to build their market share. With those in Melbourne paying on average less than those in other capital cities throughout Australia.

Given this competition, Victorians are spoilt for choice when it comes to energy providers. From the regional centres of Bendigo, Ballarat and Geelong, the border cities of Echuca, Mildura and Wodonga all the way to Melbourne; the culture and live sports state of Australia, there is an energy provider that will suit you and your household.

Although, as in any competitive market, the ability for consumers to benefit comes from two complementary factors:

  1. Consumers must regularly review and compare their current deal with what is currently available in the market.
  2. If you find a more suitable offering: Switch.

A willingness to review and switch, keeps providers striving to offer the best possible electricity arrangements to their customers in an effort to maintain their market share if they know customers are happy to compare and switch they have less opportunity to become complacent.

As with any decision around selecting a long-term service provider, there are a number of considerations for Victorians when it comes to selecting an electricity company:

  • Tariffs: Victoria has a range of tariffs that consumers can choose from and the right one for you will depend on how your household uses power.
    • Flat Rate Tariffs – consumers are charged the same amount for their power irrespective of the time of day
    • Block Tariffs – households daily electricity is charged in two blocks with different pricing, the second blocks pricing kicks in after the first block is used up
    • Flexible Tariffs – charge a range of prices for different time of the day. These times, Peak, Off-Peak and Shoulder vary significantly with preferable pricing at off-peak times designed to encourage load spreading across the network
  • Renewable Energy: A number of Victorian energy providers provide electricity sourced using a proportion of renewable energy. Victoria has invested significantly, both privately and publicly, in renewables with Solar, Wind and Hydroelectricity (through the Snowy Hydroelectricity Scheme) all available. Make sure your electricity is sourced the way you want.
  • Solar: The Victorian state government has invested heavily in residential solar with significant grants being offered. If you have solar, the feed-in tariff offered by your power company will have a significant impact on your bill. Check to see current rebates here.
  • Australian owned: Do you have a preference for Australian owned or Australian based customer service centres?
  • Discounts, Promotions or Low rates: With some much competition, providers are offering significant discounts to attract new customers. Make sure you are making the most of these and that they suit your household. Do you prefer significant pay of time discounts or one low rate for your power? Reviewing and comparing will ensure you are on a deal that works best for your household.

Victoria sees a huge number of providers all vying to build their customer base, however, it is only through a willingness to review your current deal and compare to what else is available that consumers will see the full benefit of this competition.

Compare Victoria’s electricity providers or find the best electricity deals in Melbourne with GoSwitch.