Understand The Cheapest Electricity in Victoria [2025 Update]

The Overview of Electricity in Victoria

Australia's electricity market has been deregulated since the late 1990s. The first stage involved building a national electricity network in one state and then selling it in another. The Victorian market was fully deregulated on July 1, 2008.  

The most important thing about Victoria is that it allows electricity suppliers to set their prices. As a result, many electricity suppliers compete through pricing to attract consumers, and consumers are free to choose the electricity supplier with the cheapest electricity price. So Victoria's electricity prices are very competitive among the states of Australia.

Of course, the Victorian government has taken many measures and programs to help reduce residents' electricity costs, including promoting energy-saving products, setting price caps, and investing in infrastructure. These initiatives benefit consumers and help Victoria achieve a more sustainable and affordable energy future.

Victorian Energy Upgrade Program

The program provides rebates and discounts for energy-saving products (such as LED lights, high-efficiency hot water systems, and solar panels), which not only helps Victorians save on electricity bills but also promotes renewable energy.

Victorian Default Offer (VDO)

The Victorian Government has also introduced the Victorian Default Offer (VDO), which caps electricity prices for consumers who have yet to actively choose an electricity retailer. It is designed to protect some Victorians from being overcharged by their electricity suppliers.

You can also use the Victorian Default Offer (VDO) as a reference price. All electricity plans in Victoria must show the percentage they are higher or lower than the VDO so you can see whose plan is cheaper.

Other Measures

The Victorian Government has also invested in electricity infrastructure projects to make the grid more efficient, which could reduce long-term consumer costs. These projects include upgrading transmission lines and investing in new technology to better manage electricity demand during peak times.

Cheapest Electricity Suppliers and Plans in Victoria

It's important to note that electricity prices and plans may vary depending on your location, preferences and electricity usage habits. Victoria has one of the largest and most diverse electricity suppliers, so the electricity market is very competitive. 

With the cost of living rising, it's essential to compare different electricity suppliers and their plans to find one that offers the cheapest electricity prices in Victoria. Below, you'll find a breakdown of some of the cheapest electricity in Victoria:

1. Lumo Energy

Lumo Energy is a Victorian electricity supplier offering competitive prices and flexible electricity plans. It is known for transparent billing and competitive rates. Lumo Energy has fixed, variable, and time-of-use plans and gives discounts on bundled services.

Lumo Energy's Value Plan Features:

• No lock-in contract

• Zero exit fee

• Option to pay fortnightly or monthly

• Various discounts and incentives for customers

• Solar Feed-In

• GreenPower

2. Sumo Power

Sumo Power is known for its competitive rates and commitment to renewable energy. It offers many electricity plans and rates, including fixed, time-of-use, and solar options. Sumo Power also discounts bundled services and a loyalty program for customers.

Sumo Power's Residential Switch Features:

• Solar Feed-In

• Smart Meter Compatible

3. Powershop

Powershop is a top-rated electricity supplier in Victoria, known for its competitive prices and flexible plans. Powershop also offers customers the option to purchase power packs and top up on demand. Choosing an electricity plan from Powershop means you only pay for the electricity you use, which is an ideal option for those seeking low-cost electricity.

Powershop's Power House Features:

• No lock-in contracts

• Zero exit fees

• Pay as you go

• Solar Feed-In

• GreenPower

4. AGL Energy

AGL Energy serves over 3 million customers and offers a range of plans and rates, including fixed rates, variable rates, and green energy options. Its loyalty program offers discounts and rewards to long-term customers.

AGL Energy's Value Saver Features:

• Solar Feed-In

• GreenPower

5. Red Energy

Red Energy is a 100% Australian-owned and operated supplier renowned for its excellent customer service and flexible payment methods.

Red Energy's Living Energy Saver Features:

• Flexible payment methods

• Solar Feed-In

• GreenPower

6. Momentum Energy

Momentum Energy is a wholly Australian-owned supplier renowned for its economical rates and excellent customer service. It offers a range of electricity plans and rates to customers in Victoria.

Momentum Energy's Nothing Fancy Electricity Features:

• Solar Feed-In

• GreenPower

7. Origin Energy

Origin Energy is one of Australia's largest electricity suppliers, serving over 4 million customers. Its prices are competitive, and it offers discounts on bundled services such as gas and internet.

Origin Energy's Go Variable Features:

• Solar Feed-In

• GreenPower

• Smart Meter Compatible

8. Dodo Power & Gas

Dodo Power & Gas is a popular choice for cheap electricity suppliers in Victoria. It offers fixed rates, pay-on-time discounts, and a range of plans and rates to suit different needs, making it affordable for many customers.

Dodo Power & Gas's Residential Market Plan Features:

• Solar Feed-In

• GreenPower

9. Tango Energy

Known for its commitment to renewable energy and customer satisfaction, Tango Energy offers a 100% renewable energy plan for those seeking an environmentally friendly option.

Tango Energy's Value Select Features:

• No lock-in contracts

• Zero exit fees

• Solar Feed-In

• GreenPower

10. EnergyAustralia

EnergyAustralia is a popular choice for many Victorian residents. It offers fixed and variable rates, solar plans for customers with rooftop solar systems, and discounts and rewards for loyal customers.

EnergyAustralia's Balance Plan Features:

• Solar Feed-In

• GreenPower

11. Nectr 

Nectr is a relatively new electricity supplier known for its competitive pricing and offers customers a loyalty program. Nectr is also committed to reducing its impact on the environment.

Nectr's 100% Clean Features:

• Carbon Neutral

• 1 Year Benefit Contract

12. CovaU Energy

CovaU Energy is a smaller supplier, but it is known for its excellent customer service and commitment to renewable energy. CovaU Energy offers competitive pricing, a range of plan options, and on-time payment discounts, making it an affordable option for many customers.

CovaU Energy's Super Saver Residential Features:

• Solar Feed-In

• GreenPower

• Smart Meter Compatible

13. Diamond Energy

Diamond Energy is a smaller provider, but it is known for its excellent customer service and commitment to renewable energy. Diamond Energy offers competitive pricing with 100% carbon-neutral options and solar plans for customers with rooftop solar systems.

Diamond Energy's Standing Offer Features:

• Solar Feed-In

• No Lock-In Contract

• GreenPower

14. GloBird Energy

GloBird Energy is known for transparent billing and flexible payment options. It offers fixed-rate plans and on-time payment discounts, which make it affordable for many customers.

GloBird Energy's GLOSAVE Residential Features:

• No Lock-In Contract

The table below reveals the estimated annual electricity bills, reference price discounts, and daily electricity supply costs for the electricity providers and electricity plans mentioned above.

So, by researching and considering the electricity plans offered by the above electricity suppliers, you can find a cheap electricity plan in Victoria that suits your budget and lifestyle.

How to Compare Electricity Plans in Victoria?

Most electricity suppliers in Victoria offer a range of plans to choose from. How do you choose the right plan for you? Unfortunately, there is no absolute answer, as each supplier offers different plans.

Pricing Structure

Electricity suppliers may offer different pricing structures, such as fixed or floating rates. Fixed rates provide a fixed price for a specific period while floating rates change depending on market conditions.

Contract Terms

It is essential to carefully read and understand the terms and conditions of any contract you sign with an electricity supplier. Some electricity suppliers may charge hidden fees or penalties for early termination, so make sure you understand what charges you will face.

Discounts and Incentives

Some electricity suppliers may offer customers discounts or incentives, such as paying bills on time.

Customer Service

Reliable and helpful customer service can make a big difference in your electricity supply. It is best to work with an electricity supplier that offers customer support and has a good reputation for resolving questions or concerns.

Renewable Energy

Consider choosing an electricity supplier that offers renewable energy options to reduce your carbon footprint. These include solar or wind power.

Additional Fees

Be aware of any additional fees in your electricity bill, such as connection or service charges.

In summary, here are some things to consider when choosing an electricity plan:

How Solar Energy Can Save Your Electricity Bill?

The average Australian household can save between $800 and $2,000 per year on their electricity bill by installing solar panels. Over their lifetime, they could save anywhere from $20,000 to $50,000 or more, depending on the size of the system, where it is located, and how much energy they use.

Most homes in Australia will save between $800 and $2,000 annually by going solar. You don't have to buy as much energy from the utility company when you have solar panels. They turn sunlight into electricity that you can use to power your home.

If your solar panels produce more power than your home needs, you can sell the extra power back to the power grid. This is known as "nett metering," and it lets you build up points with your utility company that can lower your electric bill when your solar system doesn't produce enough.

If you want to try solar energy but have a limited budget, consider investing in a solar generator first. We highly recommend the Jackery Solar Generator, which combines Jackery Solar Panels with a Portable Power Station to fully exploit solar energy.  

With so many different plans and prices to evaluate, finding the cheapest power provider in Victoria can take time. Consider using Jackery Solar Generators to augment your power demands rather than depending entirely on the grid. These portable devices offer an economical and environmentally responsible means of powering your household appliances.   

Jackery Solar Generator 2000 Plus

The Jackery Solar Generator 2000 Plus is the ideal way to back up your home's power. It gives you more power and more options to charge appliances with expandable capacity. This powerhouse can hold up to five more battery packs and has a 12kWh capacity that can be expanded. It will power you for up to a week without using regular electricity, which can save you money on your electric bill.

It is easy to use Jackery Solar Generator 2000 Plus; all you need to do is use connectors and cables to connect Jackery SolarSaga 200W solar panels to the Explorer 2000 Plus portable power station. You can choose to pair two or six pieces of solar panels; the more solar panels you connect, the more sunlight conversion efficiency it will have. Besides, the parallel or series connecting methods are all suitable for 2000 Plus. Recharging Explorer 2000 Plus is easy; it only takes 2.5 hours to fully recharge it, or using wall outlets for 1.7 hours or a carport for 25 hours.

2 kWh: This is enough to charge some essential and small appliances, such as your phone, computer, TV, etc.

4 kWh: Power relative to higher appliances, such as the kettle, microwave, fridge, etc.

12 kWh: Capable of powering a house for a few days.

The Solar Generator 2000 Plus is centred on longevity and safety. Its 10-year lifespan is guaranteed by its LiFePO4 battery chemistry, and its cutting-edge ChargeShield Technology provides 62 layers of protection to protect your devices and prolong battery life. This generator is designed to provide dependable, extremely safe performance in any circumstance and is certified by the FCC, CE, and UL standards.

(*The working hours are only for reference; the actual working hours depend on your usage.)

Jackery Solar Generator 1000 Plus

Discover the strength and adaptability of the Jackery Solar Generator 1000 Plus, intended to increase your energy independence so that you can save your electric bills relatively. Jackery Solar Generator 1000 Plus is the combination of a Jackery SolarSaga 100W or 200W solar panel with an Explorer 1000 Plus. This portable generator's amazing 2000W output and sturdy 1264Wh capacity power 99% of equipment, making saving household utility electricity easier.   

Like the Solar Generator 2000 Plus, it has expandable capacity. Because of its expandable design, you can connect up to three additional battery packs, increasing its capacity to an incredible 5kWh, sufficient for one to three days of backup power at home. To use Solar Generator 1000 Plus, you only need to connect Explorer 1000 Plus with a SolarSaga solar panel.

1.25 kWh: Charging some small appliances in tiny houses or off-grid cabins.

5 kWh: Powering low-to-high appliances, even the iron, electric oven, and dryer.

Recharging Explorer 1000 Plus is also easy. You can recharge a SolarSaga 100W in 18 hours or a SolarSaga 200W for 9 hours. You can also recharge it by wall outlets (1.7 hours) and carport (14.5 hours). Its LiFePO4 battery cells provide longevity, with 4,000 charge cycles and ten years of dependable performance. 

Take control with the Jackery App, which offers real-time monitoring and customisation through WiFi or Bluetooth. Compact, efficient, and built to last, the Jackery 1000 Plus is backed by a 3+2 year warranty, ensuring peace of mind as you embrace sustainable energy solutions.

(*The working hours are only for reference; the actual working hours depend on your usage.)

What Rebates or Concessions Can I Get in Victoria?

With electricity prices rising recently, paying electricity bills can be difficult for many Victorians. However, the Victorian Government or some electricity suppliers offer concessions and rebates for residents facing financial difficulties. Here are some rebates or concessions that may be available in Victoria:

Annual Electricity Concession

An eligible concession card offers a 17.5% discount on electricity usage and service charges. However, this concession is only available after paying your first electricity bill of $171.60.

Excess Electricity Concession

The Excess Electricity Concession is an annual electricity concession available to users with a yearly electricity bill of more than $3,653.

Life Support Concession

If you or someone else in your home requires an eligible life-support device, the Life Support Concession can help pay for part of your electricity usage. However, the electricity account holder needs to have an eligible concession card.

Medical Cooling Concession

You can get this concession between November 1 and April 30 to help keep your home cool. But to get this offer, you need a qualifying concession card, and you or a family member must have a medical condition that makes it challenging to stay comfortable in the heat. Victorian Winter Gas Offer: 17.5% off gas usage and service charges after the first $62.50 during the six-month winter period.

Extra offers on Electricity Plans

Discounts on electricity plans vary, from conditional discounts (requiring paying your bill on time) to unconditional discounts (available as long as you use the plan). You can consider discounts when comparing electricity plans, but it may also help to be vigilant. 

In most cases, the discount will apply to both usage and supply charges on your electricity bill, but some discounts expire after the first one or two years. So, if you choose a plan with a discount, remember to contact your electricity supplier again after the discount period ends.

Some electricity suppliers may offer promotional prices or seasonal discounts for new customers. Other electricity suppliers will offer a credit of between $50 and $100 on your first bill when you sign up online. 

Other electricity suppliers try to attract customers based on their hobbies - whether going to the cinema or supporting a sports team. For example, AGL has a rewards program called AGL Rewards, which allows customers to enjoy various discounts, including discounts on cinema and theme park tickets.

Cheapest Electricity Victoria FAQs

The following are the frequently asked questions about the cheapest electricity in Victoria.

1. Why you shouldn't stick with the same electricity supplier?

Electricity suppliers are not obligated to switch you to a cheaper electricity plan if your rates go up, so checking your rates regularly and comparing them is essential. If you never shop around and compare various electricity plans, you may be paying too much for electricity.

2. Why do Victorians switch electricity suppliers and electricity plans?

Changes to the Victorian energy market have given Victorians new options in addition to the government's default market offer. Here are the reasons many Victorians choose to switch electricity suppliers and electricity plans:

• Moving into a new home requires choosing the most suitable electricity plan.

• The current electricity plan is due to expire and needs to be replaced.

• Rising electricity bills

• Poor customer service experience

• The preferential price will change after the service of the same electricity supplier for more than 12 months.

3. Can I cancel if I don't want to go with my new electricity supplier?

In Victoria, there is a so-called "cooling off period" after you sign up with a new electricity supplier. During the "cooling off period", you can cancel the agreement without paying any penalties or fees. If you decide to cancel, call your new electricity supplier during the "cooling off period" and request to cancel your service.

4. Do I have to pay to change electricity suppliers in Victoria?

Most electricity suppliers in Victoria will not charge you to change suppliers if you have an open contract. If your electricity plan has a fixed term and you end your contract before the fixed term expires, you will pay an early termination fee.

If you are moving house, you may have to pay a connection fee to cover the cost of transferring your electricity service to your new address. Most suppliers will include this fee in your first electricity bill.

Final Thoughts

If your recent electricity bill has shocked you, it's time to switch to a cheaper electricity supplier and plan. Luckily, there are plenty of electricity suppliers in Victoria – the trick is to compare. You can compare rates, plans and more from different electricity suppliers to choose the one that best suits your budget.

Are you looking for the cheapest electricity in Victoria? Want to know if you're getting a good deal? Please read this guide to the most affordable electricity prices in Victoria, and we will take you through all the best electricity suppliers in Victoria.