nsw electricity retail market
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New South Wales is the largest electricity market in Australia with roughly 3 million residential customers and 350,000 business customers. There are three electricity networks across the state, all of which are currently owned by NSW Government business enterprises: Ausgrid (formerly EnergyAustralia), Endeavour Energy (formerly Integral Energy) and Essential Energy (formerly Country Energy). The retail parts of each of these businesses were sold off to Origin Energy (acquired Country Energy and Integral Energy) and TRUenergy (acquired Energy Australia) as part of the NSW Government's privatisation process in 2011/12.
The NSW Government, through IPART, each year sets the maximum prices that can be charged to households on regulated price plans. Power companies have the option to charge below or above these regulated rates for customers on market contracts, however, this does not occur very often in practice. Almost all energy retailers use the regulated prices as their standard prices and then offer discounts on these prices to entice customers.
electricity suppliers in sydney & nsw
Electricity suppliers, officially called electricity retailers, are companies that sell or retail electricity directly to consumers and/or businesses. Retailers do not necessarily own any wires and poles; they simply purchase electricity wholesale and resell it to the end consumer. They pay the electricity network operators a fee for using their networks to supply power to households and businesses.
As at May 2013 there were thirteen main retail power companies selling electricity to households in NSW:
- Australian Power & Gas
- Click Energy
- Country Energy
- Dodo Power & Gas
- Energy Australia
- Integral Energy
- Lumo Energy
- Momentum Energy
- Origin Energy
- Red Energy
sydney & nsw electricity prices
The amount you pay for electricity comprises a fixed supply charge (priced in cents per day) plus usage charges per kilowatt hour of electricity that you use (priced in cents per kWh). The more power that you consume in your home the higher your usage charges will be so there is always an incentive to use less power.
Power prices usually differ depending upon where you live. For example, if you live in Sydney and its surrounding suburbs you will usually pay a lower supply charge per day and usage price per kWh than someone living in, say, Dubbo. The prices differ to reflect the fact that it costs less to supply a house in a big city compared to the country; in the city there are more people and distances are shorter so the costs to supply electricity will be lower.
Electricity prices also vary depending upon the type of meter you have at your home. Many homes have single-rate meters, which means you pay the same price per kWh regardless of when you use electricity. However, an increasing number of households have time-of-use meters (also known as smart meters) where you pay more for usage during business hours but then much less for usage in the evenings, night time and on weekends. Some households might have off-peak meters tied to specific appliances such as hot water or storage heating that work only at night time; in such cases they pay a lower price for this type of usage.
As electricity rates can vary depending upon where you live, the type of electricity meter you have installed and your current electricity provider and plan it is not necessarily a simple task to find cheaper electricity prices in Sydney and NSW. However, with Switchwise you can simply enter your postcode on our homepage, answer a few questions about your energy use and we can show you whether we have been able to find cheaper electricity deals from our panel of suppliers.