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Why compare energy plans with Finder?
We don't charge extra. Prices shown on Finder are the same as those you get directly from energy providers.
We regularly update plans and offers from providers so you can make an informed decision.
We've helped over 1.16 million people compare energy plans in the last 3 years.
How do I compare electricity plans?
Compare usage rates
Don't just look at the discounts being offered by a provider. Compare both usage rates (cents per kWh) and daily supply charges. Our average cost of electricity page can guide you here. Just keep your last bill handy.
Understand the reference price or default offer
The reference price applies to households in NSW, SA, southeast QLD and the ACT. In VIC it's known as the Victorian Default Offer. Some other terminology you'll see floating around is benchmark pricing or default offer. This is set each year on 1 July by energy regulators. It's in place to help you compare plans. You always want to get a plan that's below the reference price.
Look out for additional costs
You should also compare extra costs by electricity retailers such as credit card fees, move-in fees and disconnection charges. One retailer may charge you around $13 for disconnecting you, another could charge you $44.
Understand your household's energy consumption
Knowing how much electricity you use and when you use it can aid you to pick a tariff type that can help you minimise your costs. For example, if you're home during off peak hours and happy to run your power hungry appliances then such as a clothes dryer, a time of use tariff can help you with a lower usage rate for this period. Read our guide to energy tariffs to see how you could save by switching to a different one.
Look at average electricity bills for your state
Use our guide to average energy bills by state to see if you're paying more or less than the average. If you're paying well above this, it might be time to compare, switch and save.
How do electricity discounts work?
There are three main types of discounts:
- Guaranteed discounts. These are discounts which you don't have to do anything special to get. However, they'll usually only apply for a certain period of time after signing up with the retailer, so they aren't a forever solution to your power costs.
- Conditional discounts/credits. These are, as stated in the name, conditional. That means you will only receive the benefit so long as you meet the conditions, which might not be practical or possible all the time for you or your household. It's better to look for guaranteed discounts that you'll receive no matter what.
- Incentives. Incentives are designed to lure you into switching from your current energy provider to another one. They usually take the form of perks (like movie tickets or Qantas Points) and sign-up credits. Since these are one-off things, you're better off choosing the energy plan that will better suit your needs in the long run, though we discuss some of the better incentives available below.
Latest energy discounts for July 2023
Why is my electricity bill getting so expensive?
Besides inflation, the main driver of rising prices is wholesale energy costs that makeup a third or a half of our electricity bill.
This is impacting households and small businesses in NSW, VIC, SA, QLD and TAS with prices going up by 9.5% to 25% - VIC's the hardest hit and TAS is least impacted.
Besides this, a few reasons your bills could be more expensive are:
- Since heating and cooling already make up about 40% of your bill, more time at home means more temperature control. This is a common culprit for inflated power bills, and you can find more about how to minimise costs in our heating and cooling guides.
- You're using energy inefficient appliances that are power guzzlers and can add hundreds of dollars to your bill.
- The discounts on your electricity plan have expired. Many electricity plans will give you a fixed discount for the first 12 months or so. Once that period has expired, the prices will rise again leading to a sudden spike in your energy bill. Comparing your electricity plan and finding one with better rates will go a long way to lowering it again.
How do I understand the jargon on my electricity bill?
Reading your electricity bill can be daunting if you don't know what any of it means. Check our glossary so you can understand what the jargon means.
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