Victorian energy price updates 2019

Energy retailers review prices for Victorian households in January each year. In 2018, Victorian households experienced a price hike of around 15% across the retail energy market, largely driven by the Hazelwood coal power station shutdown. This year, there have been no major impacts to energy supply and a steady increase in regulatory and media scrutiny on energy pricing, so retail energy prices have been fairly stable for Victorians during the January price change.

Light bulb cartoon going up steps Photo: Getty Images

Price changes by retailer

This year, there has been some welcome news for Victorian households from the three biggest ‘tier 1’ retailers, AGL, Origin Energy and Energy Australia:

  • AGL has actually decreased its market offer prices for Victorian households by 1.6%
  • Origin Energy has kept its pricing unchanged
  • Energy Australia has announced it is absorbing costs to avoid price increases for Victorians

Among the smaller energy competitors in Victoria, there has been some pricing movement:

  • Tango Energy remains competitive with unchanged pricing, but has retired its eSelect product and reduced its fixed benefit period to 1 year rather than 2 years
  • Alinta’s Fair Saver plan pricing has increased about 8%
  • CovaU has raised prices between 4.6% and 8.5%
  • Lumo has dramatically revamped its product suite in Victoria. Lumo’s eDeal, Advantage and Advantage Premium plans have been retired and replaced with the new Value plan. Lumo introduced  a significant price reduction its Movers plan - an average Victorian household will pay approximate 27% less less per quarter for Lumo Movers. This is an annual reduction of nearly $350.
  • Momentum has reduced prices by approximately 4.5%
  • PowerDirect, AGL’s discount brand, has followed AGL’s lead with a 1.6% price reduction

How energy prices have changed

Although retail energy prices have increased over time, the bill prices for the most competitively priced energy plans have been stable over the past three years. Energy plans and prices available to you depend on where your home is located in the electricity network distribution zone. In Victoria, we have five distribution zones. Discover more about energy price trends in your area below.

How energy prices have changed

Although retail energy prices have increased over time, the bill prices for the most competitively priced energy plans have been stable over the past three years. Energy plans and prices available to you depend on where your home is located in the electricity network distribution zone. In Victoria, we have five distribution zones. Click on the map to discover more about energy price trends in your area.

Map

Western Melbourne and Victoria

powercor energy price trend graph

Trend graph based on 13kWh/day energy consumption household.

Distributor: Powercor Australia
Area: Western Melbourne suburbs and western Victoria

The energy market is always moving. Check price trends and find the best electricity deals in your suburb with RACV Energy Compare.

Discover more

Southern Melbourne and Mornington Peninsula

united energy electricity price trend graph

Trend graph based on 13kWh/day energy consumption household.

Distributor: United Energy Distribution
Area: Southern suburbs and Mornington peninsula

The energy market is always moving. Check price trends and find the best electricity deals in your suburb with RACV Energy Compare.

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City and inner suburbs

Trend graph based on 13kWh/day energy consumption household.

Distributor: Citipower
Area: City and inner suburbs

The energy market is always moving. Check price trends and find the best electricity deals in your suburb with RACV Energy Compare.

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Northern and north-western Melbourne

jemena electricity price trend graph

Trend graph based on 13kWh/day energy consumption household.

Distributor: Jemena
Area: Northern and north-western Melbourne suburbs

The energy market is always moving. Check price trends and find the best electricity deals in your suburb with RACV Energy Compare.

Discover more

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