With July 1 now in the rear view, it’s likely energy customers around the nation have been on the receiving end of unpleasant price change news from their providers these last few weeks. And with default price increases of up to 30% predicted for some states and territories, it’s safe to assume that Aussie households and small businesses are beginning to feel the heat.
Rising prices are usually an excellent calling card for provider plan and price comparison. But with so many retailers still navigating a volatile wholesale energy market, there may be some concern from households that switching from one provider to another could end in further changes, if not timed right.
Luckily for you, that’s where Canstar Blue comes in to lend a hand. To help you navigate this period of pricing uncertainty, we’ve collated a list of all the current known providers that have stated their changes for July 1 and beyond in the energy space. If you are looking to switch to a certain provider, or cross reference your provider and its changes, jump to the list below to see what you can expect.
It’s important to remember that your retailer is required to give you at least five business days’ notice before changing your energy rates. If you are concerned about your incoming rates, be sure to check your emails or latest billing statement for any notifications or correspondence from your retailer.
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Keep an eye on the market and start comparing power plans today with these cheap deals
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Which electricity providers have already made July 1 price changes?
ActewAGL
ActewAGL informed customers prior to July 1 that it would change its prices in the Australian Capital Territory and New South Wales for residential and small businesses. Customers were notified of their new rates at least five business days prior to July 1.
AGL
AGL has already increased prices for its residential customers in NSW, Queensland and South Australia, with further changes in Victoria on August 1. Its prices have been predicted to jump as high as 29.8%, depending on location, with households looking at yearly bill increases of between $341 and $565.
Alinta Energy
Alinta Energy has has also raised rates on its market and standing offers from July 1 for both residential and small business customers. Rates changed for customers in NSW, QLD and SA from July 1, with Victorians on market offers to see changes from August 1. The retailer has also reintroduced several market offers in SA, and is giving customers in VIC a $75 bill credit on eligible offers.
Aurora Energy
Aurora Energy has stated on its website that its prices will increase by an average of 9.51% for residential and small business customers from July 1. These changes are in line with the pricing increases suggested by Tasmania’s Economic Regulator.
CovaU Energy
CovaU Energy has changed the rates on its ‘Basics’ offer from July 1 in NSW, VIC, QLD and SA. This is the retailer’s standing offer and will change in line with default pricing changes in each relevant state. CovaU Energy has also confirmed it will change rates on its market offers from July 24 in NSW, SA and TAS, August 1 in QLD, and sometime in August for VIC.
Diamond Energy
On its website, Diamond Energy states that its rates have been updated, with new pricing effective from July 1 in NSW, QLD and SA. Victorian customers will receive new rates from August 1. The expected price difference, however, has not been listed.
Dodo
Dodo increased its standing offer prices for power in NSW, VIC, QLD and SA from July 1. The retailer has also said that a change will be coming for its NSW gas prices at the same time.
EnergyAustralia
EnergyAustralia has published a notice on its website about rising electricity and gas prices for customers in NSW, VIC, QLD, SA and the ACT. This notice states that from July 1 standing and market offers will increase in NSW, SA and VIC. QLD and ACT customers are currently listed as unaffected by the upcoming changes, although customers are encouraged to keep an eye out for any notifications from EnergyAustralia for future changes. To see the full breakdown of changes, it is best to visit EnergyAustralia’s help and support page on its website.
Energy Locals
Energy Locals has changed its market and standing offer rates for customers in NSW, QLD,VIC SA, ACT and Tasmania. Victorian customers can also expect additional changes from August, according to the retailer.
Kogan Energy
Kogan Energy has increased prices on its Kogan First offers in NSW, VIC, QLD and SA. Kogan Energy has said customers will be notified of individual plan changes via email.
Lumo Energy
Lumo Energy has changed rates on its standing and default offers in SA and VIC, and reintroduced its new market offers in VIC.
Momentum Energy
Momentum Energy increased rates on its standing offers in NSW, VIC, QLD and SA. The retailer said that it will be notifying customers of its new rates before making any changes. If you are a Momentum Energy customer then, it may be best to check your nominated communication line (e.g. email) for more details.
Nectr
Nectr has made rate changes for its standing and default offers across NSW, VIC, QLD, SA and the ACT. These came into effect on July 1, in line with the standard Reference Price and Victoria Default Offer price changes. The retailer has also reintroduced market offers in NSW and QLD, and raised rates on its market offer in VIC. To see these details, visit the plans and fees section of the Nectr website.
Origin Energy
Origin Energy told Canstar Blue that it will be increasing its rates by between 21.1% and 25.5% on average for its residential customers from July 1, across NSW, QLD and SA. For its customers in VIC on market offers, their rates will change from August 1. This has been estimated as an annual bill increase of between $347 and $407, depending on location, for these customers.
Small business customers with Origin Energy can anticipate their rates to rise between 20.5% and 27.3% on average, depending on location.
OVO Energy
OVO Energy changed prices in NSW, VIC, QLD and SA for its variable rate market offers on July 1, and has reintroduced a $100 signup credit.
Powershop
Powershop increased the rates on its 100% Carbon Neutral market offers in NSW, QLD, SA and VIC. Solar feed-in tariffs across these states have also changed.
Red Energy
Whilst not overly advertised on its website, Canstar Blue has been told via a letter from a reader (pictured) that some Red Energy customers may be in for rate increases to their electricity and gas from July 1. The retailer has also placed a notice on its plans in VIC that rates will change from August 1. The below is one example of an incoming electricity rate change for a customer in Sydney’s Northern Beaches. Rates may be different for other households depending on location, network and plan type.
I’ve received a price change notice from my energy retailer: What should I do?
If you’ve received a price change notice from your energy retailer it is important to remember not just to bury your head in the sand. There may be some options available to you to help navigate this period.
- Compare your new rates against those from other providers. You may be able to find a better deal elsewhere, or even with your own energy provider. To do this, head to Canstar Blue’s free comparison tool to see deals currently available in your postcode. Alternatively, you could ask your retailer if a better offer is available. This could be particularly helpful if you are still on a standing or default offer. Just remember to confirm details with any retailer first before making a purchase decision, as several providers are likely to be changing prices over the coming weeks.
- Check if you are eligible for discounts or concessions. Most state and territory governments offer bill support to vulnerable customers, such as pensioners, health care card holders or veterans. See if you are missing out on energy rebates by visiting your state or territory government’s website and checking the eligibility requirements. Remember, the Federal Government will also be supporting a portion of vulnerable customers through its Energy Bill Relief Fund from July 1.
- Ask your retailer about financial hardship or payment plans. If you are really struggling at the prospect of higher energy bills and feel you’ve exhausted all your options, then it may be time to discuss energy hardship options with your retailer. Each retailer is required by law to offer support to customers, whether it be in the form of payment plans, financial counselling or assistance applying for rebates. If you feel you are in a position of vulnerability, it is best to contact your retailer for support and check its website for its energy hardship policy.
Image credits: tommaso79/Shutterstock.com, Alinta Energy
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