Compare Electricity Providers in Victoria

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Updated 17/05/2024
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Written by

Francis Taylor

Updated 17/05/2024

What changed?

Reviewed by Dean Ipaviz and tip added.
Our aim is to help you make better informed decisions. That’s why iSelect’s content is produced in accordance with our fact-checking and editorial guidelines.

Reviewed by

Dean Ipaviz

Find out more about how we make money.

View our Privacy Policy.

Compare Electricity & Gas Plans

Save time and effort by comparing a range of energy plans with iSelect

How do electricity prices work in Victoria?
What is the Victorian Default Offer (VDO)?
How much does electricity cost in Victoria?
Which Energy Providers are in Victoria?
What types of Electricity Plans are there in Victoria?
What kinds of tariffs are available in Victoria?
What discounts are available in Victoria?
What rebates or concessions can I get in Victoria?
Where can I compare Electricity Providers in Victoria?

How do electricity prices work in Victoria? 

Before you run to compare Electricity Providers though, it’s important to take the time to stretch those calves and understand Victorian electricity prices more generally. For starters, Victoria has a deregulated electricity market. This means Electricity Retailers are free to set prices as they wish. Things can then get competitive between retailers as they try to outdo each other with more attractive plans, ideally with lower prices.  These types of plans are known as retail or market offers.  

What is the Victorian Default Offer (VDO)?  

But if all this competition isn’t your style, you can always look at the Victorian Default Offer (VDO) instead. This is standing offer pricing set by the Essential Services Commission to cover the costs involved in actually generating and getting electricity to your place without leaving you winded from an over-the-top bill. You might not get the same bells and whistles as you would on a competitive market offer, nor the cheapest price, but you do get set prices for the year and the knowledge that you’re not paying too much for your electricity.   

Even if you don’t pick the VDO, it can be worth keeping an eye on it to use as a reference price. It’s part of why it exists really. All Electricity Plans you look at in Victoria are required to show by what percentage they are higher or lower than the VDO. With it, you can really see who has a cheap plan and who just has a good marketing team. And that’s only our first tip for becoming a superstar at comparing Electricity Providers.

How much does electricity cost in Victoria? 

While your exact electricity cost will come down to factors like where you live, how much electricity you use and what plan you’re on, that doesn’t mean you have to wait in the dark for your next bill (figuratively or literally). Historical data, for instance, can give you an idea of what to expect — we’re supposed to learn from history after all. 

The below tracks the median average electricity price for Victorian residents on a single-rate plan who have CitiPower as their distributor from way back at the start of 2021 to September 2023. It also assumes usage as the average 2022–23 consumption for the area. This isn’t completely exhaustive for all Victorian household electricity prices but it could give you a general idea of what prices have been like over time. 

Which Energy Providers are in Victoria? 

There’s more than 30 Electricity Providers or Retailers in Victoria, including household names like Engie and AGL. But just because there’s so many options it doesn’t mean you’ve got an uphill battle ahead of you if you want to compare Electricity Plans. iSelect can actually help you compare a range of Electricity Plans from a selection of providers in a matter of minutes. All you need to do is call 13 19 20 or use our online comparison tool

What types of Electricity Plans are there in Victoria? 

If you’re going to be comparing Electricity Providers and Plans, you don’t want to get tripped up on plan types. Thankfully, there’s only two you need to know about: fixed rate and variable rate. 

For those with a home loan, you’ll likely already be across these terms and can probably skip this call. For our renting or otherwise mortgage-free friends, it boils down to this: 

  • Fixed rate plans have locked-in rates for how much you pay for electricity usage, like 6 cents per kWh. With them, you may be able to get a little more certainty about what your bill will look like each time it lands in your inbox. Be aware that the fixed rates may only last for a certain length of time. 
  • Variable rate plans go up and down with the wider market but that can mean you could pay less at certain times. Your provider also must give you at least five business days’ notice that these rates are changing. 

Beyond fixed and variable rates, Electricity Plans can take a lot of different shapes, from bulging with multiple rates to being sleek and slim lined with only a single rate.

Helpful Tip:

Some providers in the Garden State offer plans with ‘fixed-term’ contracts, which might offer cheaper rates but lock you in for a number of years. With cost of living pressures impacting the majority of the population make sure you do your research on locking into anything before you choose this route as there’s a chance it could be detrimental for your bill.

Fixed term contracts may give you more predictability but might mean a fee if you want to leave before the term is up. On the other hand, flexible no-term contracts may make things a little easier if you’ve got itchy feet and like to uproot yourself from time to time, or you like to be able to jump to a better deal as you see them.

Dean Ipaviz

Sustainability Expert and Presenter

What kinds of tariffs are available in Victoria? 

Tariffs go hand in hand with rates to get you that final number on your bill. In Victoria, you’ll typically see these tariffs around: 

  • Single rate tariff: Just like it says on the tin, this is a one-rate tariff. No matter when you use your electricity nor how much of it you use, you’ll only ever have to worry about one rate. 
  • Time-of-use tariffs: Your Electricity Retailer might chop a day into different chunks, depending on how high demand for electricity usually is. Peak is when lots of people are using electricity, like in the early evening, versus off-peak, like at 3 am. Shoulders are those in-between times when usage ramps up or down. You typically can expect to pay more for electricity in peak times and less in off-peak. 
  • Controlled load tariffs: If you’ve got underfloor heating or an electric water heater, you can get a different rate especially for these guys to try and curb your bill. It usually means having them on a separate meter and restricting when they can be used though. 
  • Demand tariffs: This tariff is about how intensely you’re using electricity at any given point, rather than simply how much. It’s sort of like charging based on the max speed you drove rather than how far you went.  

You might find that different tariffs are more appealing based on what you know about your electricity consumption or how you want your bill to be calculated. So, when you’re comparing plans, it might help to look at both the rate for usage and what type of tariff it is.

What discounts are available in Victoria? 

Discounts on Electricity Plans can come in all shapes and sizes, from conditional ones that rely on you paying your bill on time to unconditional options that you can enjoy as long as you’re with the plan. When you’re comparing plans, you definitely can take discounts into account, but it might help to keep your wits about you too. They may not be a permanent fixture of your plan or you could find it’s tricky to regularly meet the conditions to get them.  

What rebates or concessions can I get in Victoria? 

Discounts are one way to save, but rebates and concessions take them to a whole other level. These are government-based payments that you may be eligible for based on your circumstances. (Hint: if you’re doing okay and typically managing to pay your electricity bills, you probably won’t qualify. Take the rebate-rejection as a compliment that you’re actually handling things pretty well.) 

  • Annual Electricity Concession: With an eligible concession card, you can get 17.5% off your electricity usage and service costs. It just won’t apply to your first $171.60 though.1Victoria State Government – Annual electricity concession 
  • Excess Electricity Concession: This is essentially the Annual Electricity Concession but for those with annual bills bigger than $3,653.2Victoria State Government – Excess electricity concession 
  • Life Support Concession: If you or someone else in your house needs an eligible life support machine, this concession can help cover some of the costs of using it. The electricity account holder will need an eligible concession card though. 
  • Medical Cooling Concession: For certain periods of the year, you can get this concession to help keep your home cool. To get it, you need an eligible concession card plus you or a member of your household has to have a medical condition that makes it hard for you to stay comfortable in the heat. 

Since these come direct from the government, it won’t matter which Electricity Retailer you’re with. You should see these concessions applied to your electricity bill regardless. So, this is one thing you won’t have to think about as you compare plans thankfully!

Where can I compare Electricity Providers in Victoria? 

Whether it’s been a while since you properly looked at your Electricity Plan or you’re well and truly ready to see what’s out there, iSelect can help. Our services make it easy to compare a selection of Energy Retailers and Plans, and even sign up to a new plan, without having to do hours of research (and risk falling down a new procrastination rabbit hole on the internet). Simply call us on 13 19 20 or use our online comparison tool.  

Get started on comparing energy plans today!

Save time and effort by comparing a range of energy plans with iSelect

iSelect does not compare all energy providers or plans in the market. The availability of plans may change from time to time, depending on who iSelect’s providers are and what plans they make available to iSelect. Not all plans made available from iSelect providers may be compared by iSelect either due to commercial arrangements, area or availability, so not all plans or providers compared by iSelect will be available to all customers. Some plans and special offers are available only from iSelect’s contact centre or website. Energy plans are available only for properties located in eligible areas of Victoria, New South Wales, South East Queensland, South Australia and ACT. Click here to view iSelect’s range of providers.