Compare energy plans in NSW (without draining your brainpower)

Why should you compare energy plans?

Shopping around to save money on a necessity? We get it, it's not ideal.

But whether you're opposed to it or not, NSW has a competitive energy market and plenty of providers, meaning switching around can stop you from spending hundreds of extra dollars.

For example, there's around a $630 annual price difference between the cheapest and most expensive single-rate electricity plan on Finder.

Some other not-so-obvious reasons to compare energy plans include:

• Discounts offered on a plan tend to last the first 12 months.
• There's a chance your provider will move you to a more expensive plan if you don't negotiate new rates.
• You're moving house. Maybe your current provider isn't offering the best plans for where you're moving to.
• Your provider has informed you its prices are going up.

How do I choose an energy provider in NSW?

When comparing electricity or gas plans from different providers, you'll want to look at a few crucial plan details:

• Guaranteed discounts: These can last for up to 12 months. Seek out plans that offer the biggest discount. For electricity, the figure is also benchmarked against the reference price the energy watchdog sets annually on 1 July. You should always aim for a plan lower than the reference price. The difference will be displayed as a percentage to make it easy to compare electricity plans.
• Usage rate and supply charge: ​​You can also compare plans by looking at the usage rate and supply charge. Usage rates determine how much you'll pay for each unit of energy that's consumed. Supply charges are what you pay daily for being connected to the energy grid.
• Sign-up deals and extra perks: When comparing plans, it also pays to look at other things besides the annual estimate. Look out for sign-up deals such as $150 bill credit for new customers or rewards points for loyalty programs from the likes of Woolies and Qantas. Depending on your habits, it could also be useful to be with an energy provider that allows you to track your energy usage via a mobile app.
• Additional costs: Before signing up for a plan, make sure you read the T&Cs for additional charges such as credit card fees or late payment fees.

Comparing plans and tariffs

While comparing discounts and usage rates is helpful, it also pays to understand the type of tariffs available to you. These will determine how much you're charged for your energy usage.

Electricity tariffs

Households in NSW have access to the following tariffs:

• Single rate: You will be charged a single usage rate regardless of the time of day.
• Time of Use: Your usage rates will vary based on peak and off-peak hours. There may also be a separate rate for the 'shoulder period', which falls between peak and off-peak hours. You will need a smart meter to take advantage of this type of tariff.
• Demand: Some plans include a demand charge on top of a single rate or Time of Use tariff. The charge is based on the highest point of power drawn from the grid during peak times. It takes many forms and can be charged daily based on your highest demand in a season, year or month.
• Controlled load: This applies to households with a separate meter for appliances such as electric hot water systems or pool pumps.
• Solar feed-in tariff: Households with rooftop solar can take advantage of plans that feature a feed-in tariff. This will determine how much money you can earn for exporting excess energy to the grid.

Gas tariffs

There are two types of gas tariffs floating in NSW, though their availability can vary between providers:

• Flat rate: You'll be charged the same usage rate regardless of the time of day you're using gas, or how much of it you're using.
• Block rate: Your usage rates will change based on consumption. For example, you'll be charged one rate for using 35MJ, another rate for the next 45MJ and maybe a different rate for the next block.

Which energy providers do we compare?

Finder compares some of the most popular energy providers in NSW including the big three: AGL, EnergyAustralia and Origin Energy.

To make it easier, we've broken our lists for electricity and gas into two, but you'll notice some retailers offer plans for both. They're known as duel-fuel providers.

Electricity providers in NSW:

Gas providers in NSW:

How much does energy cost in NSW?

Every retailer will charge a slightly different usage rate.

The average price of electricity hovers around 34.43 cents per kilowatt-hour (kWh), based on single rate tariff plans in our database.

Gas costs between 2.64 cents and 5.10 cents per megajoule or MJ.

Gas plans normally come with stepped rates, meaning the price can vary based on your energy consumption through the month or quarter.

Supply charges for energy will vary depending on your energy distributor and can cost around 91.19 cents for electricity and 68.12 cents for gas.

NSW energy rebates and concessions

Struggling with your energy bills? You might be eligible for one or more energy rebates or concessions such as:

• Low Income Household Rebate
• Life Support Rebate
• Medical Energy Rebate
• Family Energy Rebate
• Seniors Energy Rebate

For more information, you can check out our in-depth guide to energy rebates and concessions. Alternatively, call your energy provider and they'll be able to help you out.

$300 energy bill relief for NSW households

The federal government announced $300 energy bill relief for all Australian households, including those in NSW.

The bill relief will be paid in instalments from 1 July 2024 You can expect $75 to be credited to your energy account per quarter. Luckily, there's no paperwork for you to worry about.

How are energy prices in NSW set?

NSW deregulated electricity prices in 2014 and gas prices in 2017.

This means retailers can set their own prices.

However, the Australian Energy Regulator does lay down benchmark electricity prices (also known as the reference price) on 1 July each year.

This allows consumers to compare prices from retailers who must show how their plan stacks up against the reference price. For example, if a retailer offers a 20% discount, this is 20% off the reference price.

Renewable energy in NSW

Australia's focus on renewable energy and 2030 clean energy target is not lost in NSW, even though the state is lagging compared to other parts of the country.

However, there are now more than a million homes in the state with rooftop solar panels installed and the state.

If you don't have rooftop solar but would like to support clean energy initiatives, you could sign up with an energy retailer offering a little something extra for the environmentally conscious.

GreenPower: Your electricity retailer can't send renewable energy directly from the grid to your home. That's where GreenPower comes into play. It's a government-run program that allows energy retailers to buy renewable energy according to your usage, ranging from 10% to 100%. It's available as an add-on at an additional cost.

Carbon neutral plans: Don't want to spend extra money? Your energy provider will offset the carbon emissions that result from your electricity or gas usage. Some electricity plans will mention they're 100% carbon neutral, others offer it as a feature for a small fee.