Australia is home to a diverse electricity market. Some states have a large number of electricity suppliers with multiple choices, and this is thanks to retail competition. On the other hand other states within Australia are still controlled by an electricity monopoly that offers zero customer choice.
Full Retail Competition has been introduced to:
- New South Wales
- Australian Capital Territory
- South Australia
Prices can fluctuate significantly from state to state due to the many different regulations in both retail pricing and wholesale purchase costs. Even with the healthy retail competition in these mentioned states, the electricity industry is still dominated by four large suppliers: Energy Australia, AGL, Origin Energy, and TRUenergy. These large energy companies provide service to a full 80% of the electricity market.
According to IbisWorld, the electricity market is expected to yield $20.85 billion from 2011 to 2012 alone. The electricity industry is currently one of the largest industries in Australia, made up of generators, transmission and distribution networks, and retailers. Electricity use in Australia has continued to rise at an average rate of 2.5% per year from 1999 to 2009.
Number of Electricity Suppliers
Depending upon where you live in Australia, you may be able to choose from as many as 14 different electricity suppliers as a customer. With that many choices available, it’s no wonder that trying to find the best deal can be a challenge.
In New South Wales, there are 12 electricity providers that supply power to homes and businesses. Victoria offers customers the choice of 14 different electricity suppliers, Queensland has 10 different electricity suppliers, and South Australia has 9 different electricity providers to choose from.
How to Compare Electricity Providers
ElectricityWizard allows you to quickly and conveniently compare electricity providers and plans in your area. One of our trained specialists can help you find the great offers from the available rates and options in your service region. This is done so you can choose the plan that best meets your needs, and saves you money.