Red Energy pricing reshuffle for new customers in NSW and the ACT

Snowy-hydro owned Red Energy has reviewed its prices in New South Wales and the ACT, and it seems only one region has come out on top.

For those in lockdown-ridden Sydney there is some financial relief, with the provider slashing prices on all its market offers across the Ausgrid network.

The reduction in New South Wales reiterates Red Energy’s commitment to competitive pricing for customers, General Manager of Sales at Red Energy Ramy Soussou said.

“Red Energy regularly reviews and updates pricing to ensure we remain competitive and provide our customers with value for money,” he shared. “In line with this we recently reduced our acquisition pricing in NSW for new residential customers on all of our plans including the Red Qantas Saver, Living Energy Saver and Taronga Saver products.”

Those in the nation’s capital, however, will have to settle with higher costs of around $144 a year on all plans for new Red Energy customers.

This price hike for Canberrans is an unfortunate result of the new increased distribution charges approved by the regulator earlier this year, explained Mr Soussou.

“In the ACT, network costs have increased substantially raising costs for all retailers,” he said. “Red Energy reduced its tariffs in March 2021, in anticipation of these increases, with the goal of absorbing the network costs and keeping pricing the same. However, the increase in network costs were significantly more than we expected and we have had to increase our pricing to help cover a portion of these costs.”

The increased network costs in the territory have been attributed to the additional costs associated with transitioning the grid to greener power sources as per the ACT government’s 100 per cent renewable targets.

In NSW and the ACT, prices changed on the Living Energy Saver, Red Qantas Saver and BCNA Saver plans. The Red Taronga Saver plan, which is exclusive to NSW, also saw a price decrease.

Depending on the market offer, Red Energy also provides a variety of value-add incentives, such as access to its rewards program, donations  to the Breast Cancer Network Australia, Qantas Frequent Flyer points and for Sydneysiders, a 12-month family pass to Taronga Zoo.

These changes will only effect new Red Energy customers. Existing customers who would like to switch to the cheapest rates, will need to contact Red Energy and request them.

Red Energy Plans NSW

Here are the Red Energy plans on our database for NSW. 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.

Red Energy Price Changes

It’s important to keep in mind that these new prices will only effect new customers who sign-up with Red Energy. Existing Red Energy customers should not be affected by these price changes, however, it’s always best to check your bills for any communication around rate changes.

This price change assessment will be based on the changes made to Red Energy’s flagship offer, Living Energy Saver, in both NSW and the ACT. However, it should be noted that the usage and supply rates on all Red Energy’s market offers, are almost identical, so these savings will be the same across all offers. For a more detailed description on Red Energy’s latest movements, head to our price changes page.

Price change in New South Wales

Prices assume general usage of 3900kWh/year for a residential customer on a single rate tariff in Sydney on the Ausgrid network. Estimated annual price includes any conditional discounts that may be available. Accurate as of August 2021.

Price change in the ACT

Prices assume general usage of 5499kWh/year for a residential customer on a single rate tariff in Canberra on the EvoEnergy network. Estimated annual price includes any conditional discounts that may be available. Pricing shown for Controlled Load Rate 1. Accurate as of August 2021.

See how Red Energy compares to other electricity providers in New South Wales and the ACT with our comparison tool below. All you need to input is your postcode to get started. Best of all, it’s free to use and we won’t ask for your phone number.

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