Compare Electricity Prices Victoria

Before you can compare energy plans properly, you need to understand how electricity pricing works. Different tariff structures influence how much you pay, depending on your usage pattern and meter type:

• Standing Offer: A default electricity plan with a set price, often higher than market deals, and reviewed by the energy regulator.
• Market Offer: A discounted plan offered by energy retailers, usually with contract conditions like exit fees or pay-on-time discounts.
• Single Rate: A flat usage rate across the day, ideal for households with steady energy usage.
• Time-of-Use: Different rates apply based on when you use electricity: peak, shoulder, or off-peak times.
• Demand Tariffs: Pricing based on your highest short-term usage during peak times, mainly for smart meter users.
• Prepaid/Alternative Plans: Some retailers offer prepaid or subscription-style electricity plans, which may suit certain budget styles.

Victoria’s deregulated energy market gives residential customers and small businesses a wide choice of electricity providers. From well-known brands to emerging players, there’s no shortage of competition:

• Major Retailers: Companies like AGL, EnergyAustralia, and Origin Energy offer broad coverage, bundled gas plans, and established customer support.
• Smaller & New Providers: Retailers such as Lumo Energy, Dodo, GloBird Energy, and Kogan Energy often attract customers with low rates or digital-only services.
• Green Energy & Solar-Focused Retailers: Some retailers promote renewable energy, solar feed-in tariffs, or GreenPower-accredited options for environmentally-conscious households.

The Essential Services Commission tracks these retailers against the Victorian Default Offer to help customers compare energy prices fairly. They provide fact sheets to help residential customers understand how reference prices are set and what they mean for your bill.

The Victorian Default Offer is a reference price set by the energy regulator as a benchmark for electricity prices. Updated each year, the VDO gives you a clear baseline for comparing market offers, helping you see real savings without confusing rate structures.

Knowing this benchmark makes it easier to read your electricity bill, assess your usage rates, and compare different electricity plans accurately.

Smart meters are now standard across VIC, replacing traditional meters to give real-time data on your electricity usage. These meters automatically record kilowatt-hour usage every 30 minutes, which benefits time-of-use and demand tariff customers.

Smart meters also enable solar monitoring, making it easier to track solar energy exports, monitor feed-in credits, and understand how your solar panels impact your bill. Access to real-time usage data also encourages energy-efficient behaviour, helping you spot patterns and reduce unnecessary consumption.

Energy bills can feel complex, but knowing what’s what helps you make better comparisons. Once you know what to look for, you can spot high charges and missing discounts:

• Usage Charge – The rate charged per kilowatt hour (kWh) of electricity you use.
• Supply Charge – A daily fee for being connected to the electricity network, regardless of how much energy you use.
• Rate Tariff – Shows the type of pricing structure applied to your bill (e.g. single rate, time-of-use).
• GST – A 10% goods and services tax applied to electricity costs.
• Rebates & Credits – Government rebates, bill credits, or other discounts shown as deductions.
• Other Fees – Includes exit fees, late payment charges, or disconnection/reconnection fees if applicable.

Understanding these terms can reveal how competitive your current energy plan really is.

Victorian energy retailers often advertise plans with attractive offers. But headline discounts can be misleading if the base price is high. Look for actual value by checking these:

• Pay-on-Time Discounts: Small percentage discounts for paying your electricity bill before the due date.
• Direct Debit Offers: Extra savings when you set up automatic payments.
• Online Billing Discounts: Paperless billing incentives that reward customers for managing bills digitally.
• Bill Credit: One-off credits applied to your account, usually for switching plans or signing up online.

Once you’ve considered these, see what government supports are available.

Victoria offers a range of rebates and energy concessions to help eligible residents reduce electricity and gas bills. These supports change from time to time, so it’s worth checking your eligibility:

• Power Saving Bonus: A rebate for comparing energy offers through the official Victorian Energy Compare website.
• Annual Electricity Concession: A discount on electricity usage and supply charges for eligible cardholders.
• Winter Energy Concession: Additional support during colder months to offset heating costs.
• Life Support Concession: For households using approved life-support equipment at home.
• Medical Cooling Concession: Helps cover extra energy costs for medical conditions affected by heat.
• Controlled Load Concession: Assists with the cost of separately metered electric hot water or slab heating systems.

As a customer in the Victorian energy market, you’re protected by consumer rights that give you peace of mind. You won’t experience a power outage during a switch, you have a 10-business-day cooling-off period, and you can lodge disputes through the energy ombudsman if needed.

Want a better electricity deal without the guesswork? GoSwitch is the free, expert-backed way to compare electricity rates in Victoria, find lower rates, and switch plans with zero hassle. You can also compare gas plans, internet plans, and health cover options in NSW, QLD, SA, and the ACT, all in one spot, all at no cost.