Looking for the lowest electricity rates in Victoria?
We’ve summarised the cheapest residential usage rates for all five electricity networks in Victoria including AusNet Services (serving Eastern Victoria), CitiPower (for Melbourne CBD and inner suburbs), Jemena (in North West Melbourne), Powercor (for Western Victoria) and United Energy (serving South Eastern Melbourne and Mornington Peninsula) for each retailer’s publicly-listed electricity plans.
Solar Sponge time of use tariffs can offer more savings
From 1st July 2021, new “two rate” Time Of Use tariffs were introduced for households in Victoria. These tariffs has a short 3pm-9pm (6 hour) peak time period and a very long 9pm-3pm (18 hour) off-peak period every day. These are a great option for savvy consumers who are willing to move some of their loads out of the peak period to achieve a lower bill than they could with an anytime tariff. They’re also a great way to access the higher amount of renewables available during the middle of the day so you can save some money and help reduce emissions at the same time. In early July only around ten retailers offered these new tariffs however more retailers will shift to these tariffs over 2021 and 2022 as the old two and three rate tariffs are closed.
Changing change between anytime and time of use tariffs
From 1st July 2021, Victorian households can switch between anytime and time of use tariffs (and vice versa) by requesting the change through their current retailer. The household must remain on the new tariff for a minimum of 12 months before requesting a future change. The one exception is electric vehicle owners with higher powered charging stations (over 3.6kW or 15 amps) who must remain on a time of use tariff to “incentivise them not to charge during peak times”. While we’re huge supporters of time of use tariffs to lower bills there can be some homes who have very peaky usage who may be better off on an anytime tariff and this new change allows flexibility for these consumers.
Want to find the best rates and deals for your home or property?
WATTever’s free electricity comparison makes it easy with a personalised cost ranking of all publicly listed electricity plans, based on your energy use. Get it right with WATTever’s comprehensive comparison. We include all retailers, tariff types, discounts, solar feed-in tariffs, input for concessions and more to help you make serious savings on energy
Select your electricity network:
Cheapest Anytime electricity rates by retailer in the AusNet Services Network (Eastern Victoria)
Cheapest Time Of Use 2 Rate (7 day) electricity rates by retailer in the AusNet Services Network (Eastern Victoria)
TOU Periods: Off-Peak = 9pm-3pm and Peak = 3pm-9pm
Cheapest Time Of Use 2 Rate (5 day) electricity rates by retailer in the AusNet Services Network (Eastern Victoria)
TOU Periods: Peak = 7am-11pm weekdays and Off-Peak all other times
Cheapest Time Of Use 3 Rate (Flexible) electricity rates by retailer in the AusNet Services Network (Eastern Victoria)
^ Rates shown include GST and all available discounts. Plans are updated weekly from retailer’s Basic Plan Information Documents (BPIDs)/Energy Price Fact Sheets
* Reference Price discount refers to the discount off the Default Market Offer (DMO) price for NSW, QLD and SA or Victorian Default Offer (VDO) yearly cost for a household on a flat/anytime rate without controlled load tariff. Discount is calculated based on annual usage in each state/network area of 3,900kWh (NSW-Ausgrid), 4900kWh (NSW-Endeavour), 4600kWh (NSW-Essential), 4600kWh (QLD-Energex), 4000 (SA) and 4000kWh (VIC). The reference price discount is a guide (provided by the AER and ESC) and does not take into account solar export nor a property’s actual annual usage or when that usage occurs (for time of use plans).
“Market-linked plans” that have their rates tied directly to the wholesale market spot price are not included in the tables above because these rates vary every day and cannot be compared like-for-like with most plans where the published rate is the rate you pay. To view indicative rates and feed-in tariffs published for market-linked plans, please see WATTever’s rates pages for Amber Electric and Powerclub.
From March 2021, there has been fierce discounting of grid electricity offers by several energy retailers in Victoria. So we ran the numbers to find out if the plans available now are cheaper than any deal since WATTever began comparing every electricity plan listed on retailers websites in July 2017.
The arrival of low-cost electricity retailer ReAmped Energy into Victoria in March and into the ACT today is excellent news for energy shoppers wanting a better deal. Over the last two years, the independent electricity retailer has been a leading force lowering energy costs by intensifying price competition.
Australia’s consumer watchdog has released new figures showing electricity prices have fallen almost 9 per cent since the middle of last year. As a result, there is a staggering $900 million in potential savings up for grabs for households in eastern and southern states.