NSW Guide to Affordable Electricity

Jan 17 23:49 2021 Puneet S Print This Article

Living in New South Wales and getting overpriced electricity bills? You’re not alone!

NSW Guide to Affordable Electricity

Living in NSW and sick of overpriced electricity? You’re hardly alone! Electricity is one of the highest costs of living nationwide,Guest Posting and NSW is no exception. In Sydney, the average power bill in 2020 was just under $1,600 a year; while Port Macquarie residents paid an average of almost $1,900. Compare that to about $1,200 in the nation’s capital, ACT, and you can see a big difference. So, time to start looking for more affordable electricity quotes in NSW!

 

On a national scale, our energy market has been described as uncompetitive and unaffordable. By the ACCC, nonetheless – they released a scathing electricity market report back in 2018. Prices have skyrocketed over the years, and the Fair Go country is one of the most expensive countries for power. NSW’s still got it cheaper than our SA neighbours ($2k average bill!), but many of us are kinda getting rorted. The Government is now taking a “big stick” approach to the uncompetitive electricity market, but it takes time for policy to translate into the change Australia needs.

 

On the upside, here in NSW, we’re lucky enough to have a relatively competitive electricity market. Some states only have a few retailers to choose from (or in non-deregulated states, none at all), we’ve got aplenty. The NSW market deregulated back in 2015; we’ve now got three grid electricity distributors:

 

  •       Ausgrid– servicing inner, northern, and eastern Sydney
  •       Endeavour Energy– servicing south and west Sydney
  •       Essential Energy– servicing country and regional NSW

 

They distribute electricity; but as a consumer, your electricity is provided by one of more than 20 electricity retailers serving our state. Since we have the biggest population, we have a lot of choices for electricity quotes in NSW. That’s exciting, but it can feel a bit, well, overwhelming.

 

Many of us don’t review our electricity plans, and it shows up every time we get a bill. Signed up two years (or more!) ago on a now-outdated plan? Well, for a few reasons, you’re probably not getting your best deal anymore. Market prices have improved a lot, for one thing; for another, electricity retailers can practice “bait and switch” type tactics. For example, luring you in with introductory discounts and then quietly swapping you out to hyper-expensive default market offers.

 

Ideally, you’d be comparing electricity prices every 1-2 years, making sure you’re still getting the best deal on the market. Doing that alone can save you hundreds of dollars a year. Assuming at this time “ain’t no one got chance for that”? Well, can’t say we blame you. Fortunately, here at Econnex, we’re energy nerds; we don’t even need energy drinks, we’re so energised by energy. Okay, no more bad puns, let’s get to the point. So, we offer an end-to-end energy comparison service, delivering electricity quotes NSW at the click of a few buttons. (And yep, you can click that link and head straight to the sweet stuff if you like). 

 

Meet Econnex, meet savings

 

Inspired by our passion for energy, technology, and bargains, we’ve created a powerful system delivering electricity quotes at a glance. Unlike some well-known price comparison websites, we don’t present that info with an annoying star system. We use dollars, because, well, you don’t pay your electricity bill with stars and we don’t like wasting your time. You can also see the main details of your contract offer at a glance, helping you understand it more easily.

 

Reckon electricity plans often make as much sense as an ephemeral Ph.D. thesis written in Ancient Greek? Don’t worry, we’ve got plenty of info on the Econnex website to help guide you through it. After which you’ll feel like “huh, that was easier than I expected!” Finally, to make things super easy for you, we’ll even process the connection request for you if you decide to make the switch.

 

So, now you understand who we are and how we do what we do! And here’s some more helpful info on finding the right electricity quote for your home in NSW. (Don’t live in NSW but still made it this far? Hi neighbours; check out our handy guides to energy comparison in VICQLDSA, and ACT. We’re here to help all Aussies get a fair go on their power!)

 

Getting an electricity quote in NSW

 

It probably feels like all electricity providers are about the same; the result is they power your fridge and you have lights, TV, and aircon. But the way that electricity retailers charge you to deliver your power varies a LOT. Here are a few things to look out for when getting an electricity quote in NSW.

 

  • Standard or market offer? If you live in NSW and haven’t switched plans for years, you’re probably on a standard contract. These have basic regulated conditions set by the government, and they’re considerably more expensive than market contracts. It’s like getting the “rack rate” at a hotel; all-in-all, unnecessarily expensive. 

 

On the other hand, market contracts are set by energy retailers. They’ll vary a lot in terms of length, discounts, benefit periods, etc. As long as you stick to the conditions, this is where you can get a bargain… or bill shock if you don’t. And if your contract is fixed-term, you may end up on the Default Market Offer, which again is like getting the rack rate.

 

  • Time of Use (TOU) or fixed-rate plan? With a fixed-rate plan, you’ve got a standard electricity tariff round-the-clock. With a TOU plan, you can save a lot by limiting your power consumption during peak times; but they’re not for everyone. Shoulder and off-peak periods are significantly cheaper, so you can save heaps by using your dishwasher & washing machine off-peak. 

 

Working from home on-peak? Single-tariff is probably going to be better for you. But if you’re a night owl, you can save hundreds by using most of your power off-peak.

 

 

  • Supply and usage charges. Supply charges are the price you pay for being connected to the grid; these remain the same no matter how much electricity you use. These will vary from 80c up to $1.20 a day. On the other hand, usage charges are the tariff you get charged per kilowatt of power you use; these will be fixed or TOU as seen above. 

 

Some retailers offer a cheaper supply charge but higher usage charges, or vice-versa. With a glance at your bill and some quick calculations, you’ll understand whether a cheaper supply charge works for you. But unless you’re hardly using grid power, it’s probably not.

 

 

  • Discounts and late payment penalties. These can add up over time!

 

 

  • Solar feed-in tariffs. Got solar panels? A word to the wise: the cheapest feed-in tariff isn’t always the best plan for you. Being offered a cheap FiT in an NSW electricity quote? It may be in exchange for losing other discounts. Check the contract terms carefully.

 

Why bother with electricity comparison?

 

As a state and a nation, we’re paying too much for power. Getting the right plan for your needs can save you hundreds of dollars a year. That’s pretty compelling in itself. And thanks to our clever little Econnex electricity quotes NSW service (there’s that handy link again) it’s really easy. We’re proud to have saved so many Aussies on their power bills. We’re putting the power (literally) back in your hands with a better, easier way to get electricity quotes in NSW.

 

Nearly 40% of households haven’t compared prices and switched to a cheaper plan. Are you one of them?

if you haven’t, now is the time! We offer thorough, always industry-current price comparisons of both gas and electricity providers in Sydney and NSW. Look no further than Econnex – we’ll help you source the cheapest energy.

 

It’s hard to find time to get the best deal if you need to scroll through dozens of websites that aren’t designed to make things easy. Electricity retailers being so confusing at times is a big part of why so many Aussies end up paying more. And some contracts will work better for your neighbour than they might for you; it depends on how and when you use your power. 

 

And yes, the national energy market is gradually getting better, but it takes time to trickle down. Our favourite quote on this from The Hon Energy Minister Angus Taylor:

 

“While it is good to see reductions starting to flow through… we are going to keep the pressure on the energy companies to make sure they keep coming down”

 

So, wondering if there’s a cheaper, better electricity plan out there for you? The answer is “probably yes”. With 20+ providers to choose from in NSW, we’re spoiled for choice!

 

What else should I keep in mind about the NSW electricity quotes comparison?

 

Well, price isn’t everything; quality counts too, especially when there’s a problem. If you’re curious about this, Choice Magazine offers up a yearly guide to choosing the best energy provider. They base this on three metrics: general per-kilowatt-hour pricing, customer service, and environmental sustainability. You’ll find that handy report here. They identify issues like too-high late payment penalties, poor call centre performance, difficulty in understanding bills and apps; all the things that quote alone don’t quite cover. Again, you’re looking at stars, but it’s an interesting complementary addition to our dollar-value hard-data.

 

Going solar in NSW: how much can I save?

 

The future of energy is renewables, and we’re making great progress towards it. Australia leads the way in rooftop solar as the nation with the highest uptake rates (over 20%). In NSW, about 15% of homes have rooftop solar. With electricity prices rising and solar prices falling, there’s a compelling financial benefit to letting the sunshine in. Canstar Blue research shows 92% of householders who’ve installed solar panels think it was a good financial decision. 

 

There was an initial average investment of just under $6,000 among the householders involved in that research; it’s not pocket change, so your next question is probably what sort of payback period you can expect. Consumer advocacy group CHOICE has done a bit of research on this and found that for Sydneysiders exporting half of their solar back to the grid, the payback period is a mere 4 years. That rises to 5 years at an export rate of 75%. Solaray Energy estimates that you can reduce your power bill by $400 per year per kW of solar, you’re looking at hundreds if not thousands of dollars of savings annually; after your payback period, that’s virtually pure profit.

 

Millions of rooftops across the country have solar panels because the numbers add up to serious savings. Of course, there’s also something else you can help save by going solar: the planet. If all Aussie rooftops had a maximum-capacity solar system on their roofs, we’d generate more than the grid electricity equivalent. We love a sunburnt country, and we’re proud of Australia’s achievements leading the way in embracing renewable energy!

 

How many solar panels do I need?

 

This is a valid question, but a bit of a how-long-is-a-piece-of-string; factors you’ll want to consider include rooftop capacity, and your electricity usage. It’s difficult to add more solar panels in later; increasingly, householders are installing as many panels as they can fit on their rooftops. Solar installation costs are quite competitive in NSW, feed-in tariffs are reasonable, and the cost of grid electricity is high; for most of us, it makes sense to go large.

 

NSW electricity quotes at your fingertips

 

It’s never been easier for NSW residents to find the best electricity quotes in NSW for you and your family. Econnex is a faster, simpler, better, and cheaper way of doing things; no more paying more than you have to.

 

So, curious to know more about electricity provider comparison in NSW? Energy is more exciting than many people realise! Visit our blog for insights like choosing between electricity and gas, the alternative energy market, and factors affecting energy prices; or head straight to Econnex’s Electricity Quotes NSW feature to get started on getting a fairer go.

 

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Puneet S
Puneet S

Econnex gives a great and free comparison service of electricity and gas providers to help Australians secure better rates. We help families save money on their energy bills.

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