How to Compare Electricity Plans in Victoria: A Simple Guide
- Eddy. L
- 1 day ago
- 3 min read
Comparing electricity plans in Victoria doesn’t have to be complicated.
With different retailers, usage rates, daily supply charges and discounts, it can be difficult to know whether you’re actually getting a good deal.
The most important thing is to look beyond the headline discount and understand what you’re really paying for your electricity.
In this guide, we’ll walk you through what to check when comparing electricity plans in Victoria, how to understand the key charges on your bill, and what to consider before switching.
1. Start with your latest electricity bill
Your latest bill gives you the information you need to understand your current plan.
Before comparing, look for:
Your electricity retailer
Daily supply charge
Usage rates
Peak, off-peak or shoulder rates if applicable
Controlled load rates if you have one
Your electricity usage
Any discounts or credits
Your billing period
The cheapest-looking plan isn’t always the cheapest overall, which is why comparing the actual rates matters.
2. Check your daily supply charge
Your daily supply charge is the amount you pay each day simply to have electricity connected to your property.
It applies regardless of how much electricity you use.
For example, a plan may advertise a lower usage rate but have a higher daily supply charge. Depending on your household’s usage, that can affect the overall cost of the plan.
BearChoice tip: Compare both the usage rates and the supply charge rather than focusing on just one number.
3. Compare your electricity usage rates
Your usage rate is what you’re charged for the electricity you actually consume, usually shown as cents per kilowatt-hour (c/kWh).
Depending on your meter and tariff, your bill may include:
Single rate
Peak
Off-peak
Shoulder
Controlled load
Demand charges
If your plan has multiple rates, make sure you’re comparing each relevant rate rather than only the cheapest one shown.
4. Look beyond advertised discounts
A large discount doesn’t automatically mean a plan will cost less.
The underlying rates are important.
A plan with a smaller discount may still work out cheaper if its electricity rates and daily supply charge are lower.
When comparing energy plans, it’s better to look at the estimated overall cost rather than choosing based only on an advertised percentage discount.
5. Check whether your current plan has changed
Energy offers and rates can change over time.
A plan that was competitive when you first signed up may not necessarily remain the best option available to you.
That’s why it can be useful to review your energy plan periodically instead of assuming your existing deal is still competitive.
6. Consider your household’s actual energy usage
There isn’t one electricity plan that is automatically best for every household.
The right option can depend on things such as:
How much electricity you use
When you use electricity
Your meter type
Whether you have solar
Whether you use controlled load
Your location
The offers available to your property
This is why comparing based on your actual bill can be more useful than simply looking at advertised rates online.
7. Understand what happens if you switch
Changing electricity retailers generally doesn’t mean your power gets disconnected or that someone needs to physically change the electricity coming into your home.
Your distributor continues delivering electricity to the property while your retailer is the company responsible for your energy plan and billing.
There can be exceptions depending on your property or meter arrangement, such as some embedded networks, so it’s worth checking your circumstances before switching.
8. Compare your options
Once you understand your current rates, you can compare them against other plans available for your property.
Look at the complete picture:
Current plan → Available alternative → Estimated difference
Rather than simply asking:
“Which retailer has the biggest discount?”
ask:
“Based on my actual usage, what would this plan likely cost me?”
That gives you a much more meaningful comparison.
Want help comparing your electricity plan?
At BearChoice, we help make energy comparison easier.
Send us your bill and we can help you understand your current rates and compare available options.
There’s no need to spend hours trying to work out tariffs, rates and supply charges yourself.
Already found a good energy plan?
That’s where RateShield comes in.
RateShield helps keep your energy plan on watch.
Upload your bill, we monitor your rates, and if we identify a better option, we’ll let you know.
Your energy plan, kept on watch.
Learn more about RateShield
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