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Just like in Victoria electricity is deregulated in NSW. This means private providers can set their own prices. As a result this enables more competition. Data suggests that Sydney consumers are paying less for electricity than five years ago. Compare electricity plans here to find the best deal for you. Please keep in mind that the price of electricity is dependent on a number of factors like what type of meter you have, where you live, your provider, and energy consumption.
Pretty much every energy provider in NSW offers you different types of discounts on your electricity. Do your research to see which one gives you the best value and saves you money long-term not just short-term. In addition to discounts provided by energy providers in NSW, the NSW Government also provides a range of electricity discounts and concessions. These are to help low-income households and there are also rebates for business. To find out more just visit the NSW Government energy saver website.
In September 2013, the NSW Government released the NSW Renewable Energy Action Plan. Essentially it’s all about the NSW Government investing in renewable energy which helps reduce the cost of both electricity and gas to consumers. As of November 2020, the NSW Government has invested $32 billion dollars in renewable energy. In addition the NSW Government is encouraging energy providers to support homeowners to take out interest free loans of up to $14000 to install solar power to reduce their energy bills under their Empowering Homes Program.
During times of peak consumption consumers in NSW pay more for their electricity usage. In NSW peak demand is from 2pm to 8pm on weekdays in summer and 5pm to 9pm on in winter. In recent years peak demand has grown due to population growth and increase in technological use.
As a result electricity distribution companies have had to build more infrastructure like poles and wires. This has increased electricity prices for consumers who naturally are shopping around for better deals. So comparison of different energy providers and their electricity offers has skyrocketed.
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