Most Australian households are paying more for electricity than they need to. Not because of usage, but because they have never switched retailers. If your bill says "standing offer" anywhere on it, you are almost certainly on the most expensive rate your retailer offers. Switching takes about 15 minutes and does not turn off your power for a single second.
When you move into a property, you get assigned a default retailer. That retailer puts you on a standing offer, which is a regulated rate set by the government. It sounds safe because it is capped, but it is also the highest rate the retailer is allowed to charge. It is the baseline, not the deal.
Three retailers control roughly 62% of the Australian market: AGL, Origin Energy, and EnergyAustralia. All three have standing offers. All three also have market offers that are significantly cheaper. The gap between a standing offer and the best available market offer for an average household is typically $300 to $600 per year.
For context, the Default Market Offer (DMO 7) annual reference bills for 2025-26 sit at roughly $1,900 to $2,500 in NSW, $2,177 in south-east Queensland, and $2,280 in South Australia (the highest in the country). Victoria uses the Victorian Default Offer (VDO) instead, which sits at around $1,675 per year for a household using 4,000 kWh. If you are on a standing offer and paying close to those figures, there is a strong chance you can do better.
Pull out your most recent electricity bill. Look for the words "standing offer" or "market offer" somewhere on the first page or the rates summary. If it says standing offer, you are paying the default rate. If it says market offer, you are already on a negotiated rate, but it may still not be the best available.
Your bill will show your usage in kilowatt-hours (kWh). Find the annual figure or add up the last four quarterly bills. Most Australian households use between 3,500 and 6,000 kWh per year, depending on household size, climate, and whether you have gas for heating and hot water. This number is the single most important input when comparing offers, so do not skip it.
Two free government tools cover all the main electricity markets in Australia. Neither takes commissions from retailers, so the results are not skewed by who pays to be featured.
Energy Made Easy at energymadeeasy.gov.au covers NSW, Queensland, South Australia, and the ACT. Enter your postcode, annual usage, and current tariff type and it will list every available offer ranked by cost.
Victorian Energy Compare at compare.energy.vic.gov.au does the same for Victoria.
Use whichever applies to your state. Both are maintained by government regulators and updated regularly.
When reviewing results, focus on three things: the unit rate (cents per kWh), the daily supply charge (a fixed daily fee regardless of usage), and the contract length. Avoid offers with exit fees or lock-in periods longer than 12 months unless the rate is significantly better. No-contract plans from retailers like Amber Electric, GloBird Energy, Energy Locals, Everyday Energy, and ReAmped Energy have been consistently competitive against the big three in recent comparison cycles.
If you have solar panels, pay close attention to the solar feed-in tariff (FiT). Rates vary from around 3 cents to 8 cents per kWh depending on the retailer and state. A higher unit rate with a better FiT can work out cheaper overall if you export a significant portion of your generation.
Once you have picked an offer, go to the new retailer's website and sign up online. The process takes about 15 minutes. You will need your current bill (for your National Metering Identifier, or NMI) and basic personal details. The new retailer contacts your old one and arranges the transfer. You do not need to call anyone or cancel anything yourself. Your power does not go off. Switching electricity retailers is an administrative transfer between companies. Nothing changes at the meter during the process.
You also have a 10 business day cooling-off period after signing with the new retailer. If you change your mind for any reason, you can cancel without penalty during that window.
When your first bill from the new retailer arrives, verify that the unit rate and daily supply charge match what you signed up for. Errors are uncommon but they do happen. If the figures do not match the offer confirmation you received, contact the retailer directly and quote your signup documentation.
DMO 8 takes effect on 1 July 2026. Under the new rates, default offer prices in NSW and Queensland are expected to fall by 3 to 7%, while South Australia will see a small increase of around 1.4%. If you are in NSW or Queensland and not in a hurry, it may be worth waiting until August to lock in a new market offer, since retailers tend to re-price their deals around the annual DMO reset. In South Australia, switching sooner rather than later makes more sense.
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