Energy is becoming more and more of a hot topic as our reliance on fossil fuels such as oil, natural gas, and coal becomes dangerous for the planet. Firstly, this article will look at how different types of energy providers compare in your area. However, it is critical to understand your usage requirements and energy budget before looking for plans.
The cheapest provider in your area may not suit your needs. Hence when shopping for energy compare plan elements like the contract length and the fine print – there may be a cheaper option with a more extended contract, or vice versa.
Use a reliable energy comparison website to make an informed choice. These websites allow you to make location-specific comparisons. The average cost for energy in Australia is $150 per quarter (depending on where you live, this may vary).
Prominent Market Players
Origin Energy, AGL Energy & Energy Australia are the biggest providers in Australia. They are vertically integrated, meaning they offer all services required to supply energy (generation, transmission & distribution) and were the first gas and electricity providers before deregulation.
The average cost for energy with Origin Energy is $158 per quarter; AGL is $150 per quarter, while Energy Australia averaged around $153 per quarter.
Alinta Energy, Lumo Energy, Click Energy, Powerdirect, Dodo Power & Gas, and ActewAGL are smaller providers who do not own any generation or transmission infrastructure but buy energy in bulk from the wholesale market to resell to customers at competitive prices.
Alinta Energy averaged $128 per quarter, with Lumo Energy coming in at around the same price, while Click Energy, Powerdirect, and Dodo Power & Gas were slightly cheaper. ActewAGL was a little more expensive than the Big Three, coming in at an average of around $134 per quarter.
Green Energy Companies
Green energy companies source renewable resources such as wind, solar, hydro, and biofuels to supply energy at competitive prices – sometimes even cheaper than the average prices of traditional suppliers.
This is great for the environment but may not suit everyone given the lower quantities of energy it can provide compared to traditional forms of energy.
Green energy providers include Momentum Energy, Flow Power, Good Energy, and Country Green. The average cost is roughly $139 per quarter for these providers.
Packaged energy deals offer a range of services in a bundle for an ‘all-in’ price, depending on your needs. These services may include energy, home phone, and internet – you will need to compare providers for the best deal in your area.
All providers offer packaged deals with an average cost of $147 per quarter.
Prepaid energy is available for households that are renting or do not want to get locked into a long-term contract. It works by charging the customer for their energy usage before receiving it, similar to how you pay your phone bill.
The cost of energy using solar panels is a fraction of what you will pay to your existing supplier, but it depends on how much money you have invested in this technology and how much energy you use.
Many households choose to install solar PV panels after receiving subsidized installation from the government and enjoy huge savings on their electricity costs.
Solar costs are sometimes included in the home or car insurance packages, so it’s worth asking your provider what options are available to you. The average power bill for households with solar is $65 per quarter, including installation, maintenance, and energy generation.
Home Battery Installation
Installing a home battery is excellent for households with solar PV panels and want to store the energy generated during the day for use at night.
Batteries can save you hundreds of dollars on your power bills but are not always suitable, so you must assess your usage before signing up. The average cost for households with a solar battery is around $145 per quarter.
Emergency Power Supply
There are more natural disasters happening each year, so it’s worth looking into what your home insurance package offers in terms of emergency power supplies if anything at all. Many companies offer portable generators at an average cost of about $200 per quarter.
All providers offer prepaid deals at an average cost of around $150 per quarter, with no installation required. Due to the increased popularity of green energy, it is becoming more common than prepaid plans.
Each person’s needs are different – don’t be tricked into thinking that a provider with higher costs has better service just because they have lower prices. To find the best suppliers of energy, compare things like the contract length and the fine print.