If you have never changed electricity retailer, or have not for years, you may be on a standing offer. That is the plan the retailer puts you on by default, and it is the one the regulator caps.

What the Default Market Offer is

In New South Wales, South Australia, south-east Queensland and the other regions it covers, the Australian Energy Regulator publishes a Default Market Offer (DMO) price each year. It is the most a retailer can charge on a standing offer, and the benchmark for how plans are presented. Victoria has its own equivalent, the Victorian Default Offer (VDO), set by the Essential Services Commission. Western Australia and the Northern Territory have separate regulated tariffs.

The DMO is a ceiling, not a recommendation. Many market plans sit below it. It is protection for people who do not shop around, and it is why not shopping around is less costly than it used to be, but it is still not the lowest price on offer.

Signs it is time to compare

  • Your discount period has ended. The letter or email that tells you is easy to miss.
  • You have moved house, and the new address defaulted to a standing offer.
  • Your usage has changed. Solar, an electric vehicle, a new household member or a change in working from home all alter which plan suits you.
  • You have never compared, or have not in over a year.

What to compare

Use the same three numbers every time: the supply charge, the usage rates and, for solar owners, the feed-in rate. Compare on your own usage in kWh, from a recent bill. Then check the conditions: discount terms, benefit period, exit fees, and whether the plan is fixed (rates held for a period) or variable (the retailer can change them with notice).

Switching is simple

You do not need to cancel with your current retailer. The new one arranges the transfer, there is no interruption to supply, and any difference between your last meter read and the switch is settled on a final bill. There is a short cooling-off period if you change your mind.

A word on vulnerable customers

If you are struggling to pay, tell your retailer. They are required to have hardship programs, and state concession and rebate schemes may apply to you. Your state or territory government's energy rebate page lists what you may be eligible for.

OpenStream lists every published offer, sorted by price, with the page each figure came from: compare electricity offers.