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Energy prices on Finder
Here's how we calculate the prices you see.
- What is the reference price?
- What is the Victorian Default Offer (VDO)?
- What is a representative customer?
- What is the estimated price?
- How do we show products on the site?
- Why is the price different to what I see on the provider's site or my bill?
The reference price, introduced in July 2019, is the maximum price a retailer can charge you on a standard contract for electricity or gas. While the price may vary depending on where you live, retailers are required to advertise their rate against the reference price so you can compare plans more easily.
We show a percentage difference between the unconditional price (no conditional discounts) of a plan to the reference price.
In New South Wales, South Australia and South East Queensland this is also called the Default Market Offer (DMO).
Victoria uses a different price which is called the Victorian Default Offer (VDO).
The VDO, introduced on 1 July 2019, aims to provide customers in Victoria with reasonably priced electricity and ensure they are not paying too much for their electricity. When shopping around for a policy, electricity retailers are obligated to provide you with the VDO if you request it.
A representative customer's usage is based on model annual usage as set by the AER or Victorian Government (for NSW, SA, QLD, VIC customers), or electricity and gas usage benchmarks as published by the AER (for ACT customers).
The price estimate should not be used as an official quote, but an indication of what your costs may be on the plan. It varies based on whether you provide us with your bill details.
Note: Table below may not be clear on mobile.
|Meaning of "estimated price"||No bill details||Bill details|
|NSW, SA, QLD||The lowest price for a representative customer, based on Australian Energy Regulator (AER)'s model annual usage in that postcode region, assuming all conditions have been met.
A representative customer is a customer whose usage represents AER model usage for that particular distribution network.
|The estimated amount payable for this plan based on details you have entered from your personal bill.
Your actual bill may vary from the estimated price if your actual energy usage is different from the estimated energy usage.
|VIC||The lowest possible price a representative customer would be charged in a year for this plan, using the Victorian government's annual reference consumption for domestic customers in the provided postcode's region and assuming all conditions have been met for any discounts.|
|ACT||Based on estimated energy usage AER electricity and gas bill benchmarks. The estimated energy usage is based on information users provide, e.g. suburb, number of people in their household, existence of pool, mains gas connection, controlled load, air conditioning, electric heater, electric water heater and underfloor heating.|
Note: Data is updated within 24 hours of becoming aware of a change.
- Our calculations take into account daily supply charges.
- For time of use prices, we have assumptions on usage based on the annual average per distributor, as set by the regulator for each state. See below.
- Consumption has been apportioned evenly over the number of days.
- We assume 30% of household consumption for controlled load plans.
- When a plan has two controlled loads, we use the cheaper option.
- Check with your retailer if you're not sure which controlled load applies to you.
- For stepped calculations we apply consumption across first, next and remaining thresholds.
- If we show quarterly estimates, they are based on an average of 91 business days.
- Victorian distributors (Annual reference consumption)
- New South Wales, Queensland and South Australia distributors (Model Annual Usage)
- ACT distributors (AER electricity and gas bill benchmarks)
- Price estimates do not take into account:
- Bonus or welcome cards
- Ongoing credits
- Anniversary credits
- Conditional credits
- Pre-payment discounts
- Price estimates exclude solar panel rebates, concessions and bonuses
- Our calculations do not include fees including subscription fees, joining fees, exit fees, disconnection fees and reconnection fees. These fees can be compared elsewhere on the table.
Whilst we make every effort to update our engine quickly when becoming aware of a change, it's recommended that you check the provider's website when signing up for a plan.
By default, our results page shows only products with a link to a partner website or a broker. You can untick this setting like so:
The order of products is determined by a relevancy score which is based on:
- Supply charge
- Usage rates
- Plan flexibility e.g.
- Whether it's on a contract
- Exit fees
- Disconnection fees
- Reconnection fees
- Payment options
- How well known a brand is
- If it has a green option
- The solar feed-in tariff
- Avoiding plans from the same provider showing one after another
Products in postcodes where there is more than one distributor
When there are products in postcodes with more than one distributor (where there could be the same product under different distributors) we only show one distributor based on what's cheaper.
Products we don't show
For Victoria, we don't show products where there is no Energy Fact Sheet available on a brands website.
- The estimated cost may vary for meter type.
- Prices are not personal estimates and your household's usage may vary.
- Energy provider plan rates and supply charges are subject to change, which could impact price estimates.
- Please confirm all product information and pricing with the energy provider before you sign up to any plan.
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