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The Electricity Market in QLD

The Queensland electricity market can appear challenging, with numerous providers and plans to choose from. That's why we're here to provide a detailed understanding of the market, including key definitions, history, major retailers, consumer protections, resources, and tips for comparing plans.

Whether you are a new resident looking to set up your electricity connection or a longstanding homeowner seeking to switch electricity providers in QLD, understanding the nuances of the electricity market can help you make informed decisions and potentially save on your energy bills.

History of the QLD Electricity Market

The evolution of the electricity market in New South Wales (QLD) from a state-controlled system to a competitive market has significantly transformed how electricity is generated, distributed, and consumed. This journey highlights major milestones and regulatory changes that have shaped the current landscape.

Pre-1990s: Government Control

Before the 1990s, the electricity market in QLD was entirely government-controlled. State-owned entities were responsible for generating, transmitting, and distributing electricity. There was no competition, and consumers had no choice but to receive their electricity from these state-owned providers. This centralised system aimed to ensure a reliable supply of electricity across the state, but it lacked the efficiencies and innovations that competition could bring.

1995: Introduction of Retail Competition

The first major shift towards a competitive market occurred in 1995 when the QLD government introduced retail competition for large consumers, such as industrial and commercial users. This allowed these large consumers to choose their electricity provider from various retailers. The goal was to increase efficiency, reduce costs, and drive innovation in the market. This initial step set the stage for broader market reforms.

2002: Full Retail Competition

In 2002, the market opened up to full retail competition, enabling all consumers, including households, to choose between various electricity providers in QLD. This was a significant milestone as it introduced choice and competition into the residential sector, fostering a more consumer-centric market. Retailers began offering various plans, incentives, and discounts to attract customers, leading to better deals and more innovative services.

2011: Privatisation of State-Owned Retailers

The privatisation of state-owned electricity retailers in 2011 marked another critical change. The QLD government sold its retail businesses, including EnergyAustralia, Integral Energy, and Country Energy, to private entities. This move aimed to enhance efficiency and competitiveness in the market. Privatisation was part of a broader strategy to modernise the energy sector and attract private investment to drive further innovation and improvement.

2017: Role of the Australian Energy Market Operator (AEMO)

In 2017, the Australian Energy Market Operator (AEMO) took over the management of the electricity market operations and planning. AEMO's role includes ensuring the reliability and security of the electricity supply, managing the National Energy Market (NEM), and overseeing the integration of renewable energy sources into the grid. This transition to AEMO's oversight has helped streamline market operations and improve the coordination of electricity supply and demand across the state and the broader NEM region.

Recent Developments and Future Directions

In recent years, the QLD electricity market has continued to evolve with a growing emphasis on renewable energy and sustainability. Policies and incentives supporting solar power, wind energy, and other renewable sources have gained momentum. Initiatives such as the QLD Electricity Strategy aim to deliver a modern electricity system that is affordable, reliable, and sustainable. The strategy includes plans for infrastructure investments, regulatory reforms, and support for new technologies to enhance the grid's resilience and efficiency.

A Sneak Peek into the Electricity Market of QLD

Queensland’s Electricity Market Explained 

Understanding the energy market in QLD can seem a bit confusing at first. That’s because- it is regulated in some locations and deregulated in others. So, whether you can take the liberty of choosing between a range of competitive electricity plans and offers or not really boils down to where you reside. Let’s discuss: 

• The Energy Market of SouthEast Queensland 

The energy market of Southeast Queensland has been a deregulated one ever since 2016. This simply means that the electricity providers in QLD servicing specifically in this zone can enjoy the freedom of setting their own tariffs and market offers. In short, they tend to compete for their market share in the best way that they can.  

So, in this whole setup, you’ll be the one who’ll get to take advantage of an increased selection of choice in electricity providers (more than 20, to be precise), competitive prices, and generous offers. 

However, there still exists a Default Market Offer (DMO) that serves as the benchmark or reference point of the maximum price that the energy retailers are allowed to charge. If you don’t actively choose a specific electricity plan, you’ll automatically be switched to a Default Contract (which we won’t recommend since it is likely to be the most expensive plan out there). It would be in your best interest to compare and select a market offer since it tends to offer competitive pricing and deals. 

• The Energy Market of Regional Queensland 

The residents of Regional Queensland, on the other hand, aren’t as lucky. The electricity market here is regulated by Queensland Competition Authority, which means- you don’t get to choose your retailer or plan.  

However, there is still some good news- the cost of electricity here is subsidized by the state government, so, you will pay less than those living in Southeast Queensland. 

What is the Average Electricity Bill in QLD? 

Going by the market research, the average electricity bill in QLD can range between $140 to $150 a month. However, this figure can always vary- not only by virtue of several factors including size of your household but also as per the source of information.  

Having an idea of what others are paying for electricity can help you determine if you might be overpaying and give you an opportunity to see if the market has any better deals to offer. 

Prominent Electricity Providers in QLD

A diverse range of retailers serves the electricity market in New South Wales (QLD), each offering unique plans and services to meet the varied needs of consumers. Below is an overview of some of the prominent energy providers in QLD that you'll find on our panel (listed in no particular order):

1. EnergyAustralia. EnergyAustralia is one of the largest electricity providers in QLD, offering a variety of plans to suit different consumer needs. They provide options for both residential and business customers, including plans with renewable energy and flexible payment options. EnergyAustralia is known for its customer service and competitive pricing, along with special discounts for direct debit payments.
2. Alinta Energy. Alinta Energy focuses on providing affordable and straightforward energy plans. They offer competitive rates and various plan options, catering to both households and businesses. Alinta Energy is committed to customer satisfaction, providing reliable service and easy-to-understand billing.
3. 1st Energy. 1st Energy is a relatively new player in the market, emphasising customer service and simplicity. They offer straightforward plans without complicated terms, aiming to make the energy-buying process easy for consumers. 1st Energy’s focus on clear communication and support makes it a popular choice for those looking for hassle-free service.
4. Powershop. Powershop stands out for its commitment to green energy and innovative tools that help consumers manage their energy usage. They offer 100% carbon-neutral plans and give customers the ability to track their energy consumption through a user-friendly app. Powershop’s focus on sustainability and customer empowerment makes it an excellent choice for eco-conscious consumers.
5. AGL AGL is one of the oldest and largest electricity providers in QLD, providing a wide range of energy solutions. They offer various plans, including those with renewable energy options and benefits such as rewards programs. AGL also provides extensive customer support and resources to help consumers manage their energy usage efficiently.
6. Dodo Power and Gas. Dodo Power and Gas combines energy services with internet and mobile plans, offering bundled deals that can save consumers money. They provide competitive pricing and simple plans, making it easy for consumers to manage multiple services through a single provider.
7. ActewAGL. ActewAGL primarily serves the ACT and surrounding regions, offering reliable electricity and gas services. Known for its strong local presence and community involvement, ActewAGL provides excellent customer service and a variety of plans to meet the needs of both residential and business customers.
8. ENGIE. ENGIE focuses on sustainable energy solutions, providing competitive electricity plans with a green energy component. They are involved in numerous renewable energy projects and aim to reduce their environmental impact, making them a suitable choice for environmentally conscious consumers.
9. RED Energy. Backed by Snowy Hydro, RED Energy offers flexible plans and a strong commitment to customer service. They provide a range of options, including renewable energy plans and special offers. RED Energy is known for its customer-centric approach and reliability.
10. Lumo Energy Lumo Energy provides competitive prices and straightforward plans. They offer a variety of options tailored to different consumer needs, including discounts for on-time payments and flexible contract terms. Lumo Energy’s focus on simplicity and affordability makes them a popular choice.
11. Momentum Energy. Momentum Energy is 100% owned by Hydro Tasmania, Australia’s largest producer of renewable energy. They offer plans with a strong emphasis on renewable energy, catering to consumers who want to reduce their carbon footprint. Momentum Energy is known for its transparent pricing and commitment to sustainability.
12. Blue NRG. Blue NRG specialises in business energy plans, providing competitive rates and dedicated customer service. They focus on small and medium-sized businesses, offering tailored solutions to help manage energy costs effectively.
13. OVO Energy. OVO Energy emphasises sustainability and competitive pricing, offering plans with a green energy focus. They provide customers with tools to monitor and reduce their energy usage, promoting energy efficiency and environmental responsibility.
14. Tango Energy. Tango Energy offers simple, transparent pricing with no-nonsense plans. They focus on providing value for money with straightforward terms and conditions. Tango Energy is ideal for consumers looking for reliability and clarity in their energy plans.

Each of these electricity providers in QLD brings something unique to the table, catering to a wide range of preferences and needs. Whether you prioritise cost savings, renewable energy, or customer service, there’s likely a retailer that can meet your requirements.

This means that the best electricity provider in QLD for your needs may differ from the ideal option for someone else's household. Understanding what each retailer offers can help you make an informed decision when selecting your electricity provider.

What is the Average Electricity Bill in QLD?

Your average bill can differ considerably from the state average based on several factors. These include the number of people in your household, your energy habits, the tariff you are on, your distributor, provider, energy plan, and whether you have solar panels.

Some of the Cheapest Plans from Electricity Providers in Sydney QLD

The table below summarises some of the cheapest plans available from electricity providers in Sydney (postcode 2000) from a selection of providers as of May 2024. The estimated annual costs are based on the assumption of a typical residential customer with an average annual usage of 5,000 kWh connected to the Ausgrid network.

These figures should give a general view of what customers might expect to pay annually under each plan when they go to compare electricity providers in QLD. Prices and plan details vary based on specific conditions, such as usage patterns and the exact location within the network. These plans offer various benefits, including credits and fixed rates, to suit various consumer needs. Users should consider their electricity usage and consult provider-specific details for a more personalised estimate.

Please note: This is not an exhaustive list of all plans or electricity providers in Sydney QLD, as we do not compare all brands in the market or all products offered by each brand.