Queensland Electricity Market is not as big as that of Victoria or New South Wales. A lot has been stuck on the same old energy tariffs. Several new providers entered the market since the market was deregulated. They are offering several plans to lower your energy bills but you may not be aware of this.
Here’s everything you need to know about energy in QLD:
Overview of QLD Electricity Market
In SE QLD (Brisbane, Ipswich, Toowoomba, the Gold Coast, and Sunshine Coast), the electricity market is fully deregulated since 2016. Energy retailers were free to set their own products, it’s prices and conditions. Many of the households in these areas are still on standard contract, likely to be paying more than they need to.
In regional QLD (Bundaberg, Rockhampton, Townsville, Cairns, Mount Isa and all regional areas in between), prices remain regulated by the Queensland Competition Authority meaning households can’t choose their provider. The government continues to control electricity pricing with Ergon Energy. Electricity costs in regional QLD are subsidized by the Government to ensure households do not end up paying more than those in SE QLD.
Electricity Contracts in QLD
Households have a wide variety of plans to choose from as there are a lot of providers offering services in SE QLD.
Majority of which offers contracts with variable rates, retailers can adjust prices anytime without prior notice. Some offers fixed-rate deals in two years benefit period with the same rate.
Electricity Costs in QLD
It’s important that you understand the different costs that make up energy bill as it comes in all sorts of prices and charges.
Supply Charges-These also referred to as ‘service charges’. In Brisbane and surrounding areas, a typical household would pay $1 a day.
Usage Charges – These are rates for your actual electricity usage. Electricity usage rates in SE QLD costs 26cents per kWh up to 32 cents.
Electricity Discounts in QLD
Electricity providers in QLD offer plans with up to 25% off usage charge, receive bills via email, pay on time discounts or by direct debit payment. Remember not all plans with the biggest discount result in the lowest prices, make sure to check on the usage or supply charges.
Energy Rebates in QLD
There is a wide range of energy rebates available in QLD to help reduce electricity costs. You can contact your retailer for details.
Electricity Tariffs in QLD
The electricity tariffs relate to the energy plan structure. All plans have a fixed daily charge for all power supply but the rates you pay for electricity usage depends upon your usage. There are two primary tariffs available in QLD:
Single Rate Tariff- the same usage charge applies regardless of your usage, no matter what type of your meter you can use a single rate tariff
Time of Use Tariff– the usage charges vary, depending on the time of your usage which applies to households with a smart meter or interval meter.
Prices in SE QLD are set by the retailers, other areas are set by the Queensland Competition Authority.
- Tariff 11– the standard residential electricity tariff in QLD, wherein customers pay the same rate in kWh regardless of the time of the day.
- Tariff 12A – this is a time of use tariff and alternative to Tariff 11. The prices are different for electricity usage depending on the time of day, and even the time of year, usually summer when electricity is at the most expensive.
- Tariffs 31 and 33 –this also referred to as ‘controlled load’ or ‘dedicated circuit’. These can be used to power certain high usage appliances such as your hot water system and pool pumps. Households must first be on either Tariff 11 or 12A before being able to access Tariffs 31 or 33. If a household is on single rate tariffs they can also benefit from a controlled load.
Understand first the different pricing structures to find what suits you. A smart meter can help you save with a time of use tariff. Switching to a time of use tariff and your usage is still high when prices are highest in the early evening might still cost you.
Cheapest Market Offers in QLD
Below is the table of the cheapest plan comparison in QLD:
|Electricity Provider||Electricity Plan||Discount||Benefit Period|
|Alinta Energy||Home SaverPlus||28%||2 years|
|Qenergy||Flexi Saver Home||0%||2 years|
|Energy Australia||Secure Saver||30%||2 years|
|Powerdirect||Market Offer||24%||1 year|
|Simply Energy||Simply RACQ Plus||21%||2 years|
|Red Energy||Easy Saver 10%||10%||Ongoing|
|Dodo Power & Gas||Market Offer||25%||Ongoing|
|Amaysim Energy||Electricity 2||20%||Ongoing|
|1st Energy||Easy Saver||30%||2 years|
|Origin Energy||Maximiser||16%||1 year|
|Energy Locals||Save Me||0%||Ongoing|
|Click Energy||Click Agate||15%||Ongoing|
|Mojo Power||Mojo Connect||0%||Ongoing|
If you want to know what’s the best offer in your area click here.
Complete List of Electricity Providers in QLD
- Alinta Energy
- Amaysim Energy
- Click Energy
- Diamond Energy
- Dodo Power & Gas
- Energy Locals
- Lumo Energy
- Mojo Power
- Red Energy
- Sanctuary Energy
Picking a new energy provider is not an easy task to do. Most of the retailers offer plans with no fixed term, no exit fees- you can easily switch if you’re not satisfied with the service.
Here are some things to consider before changing your provider:
- Plan Type: Variable or Fixed Rate
- Usage and Supply charges per kWh
- Exit Fees
- Discounts Available
- Contract Length and Benefit Period
You can do some research or allow Econnex to do the work for you.