The main difference between residential and business electricity plans is that businesses typically use more electricity and attract different rates and tariffs than you’d find in a residential plan.
Meters can also be different for businesses. Larger businesses tend to use more electricity, so their meters are configured to handle a larger load. Small business meters don’t look that different from residential ones, but they’re configured differently and have different tariffs.
Your business’ electricity bills will vary depending on several factors, including the:
If you’d like an idea of how much your business could potentially pay to keep the lights on and the computers or appliances running, you can complete a quote through our business electricity comparison service. Please note your quote is indicative only.
There’s no way to ensure your business uses only green energy, as the electricity grid we rely on for power includes various sources of energy. However, most retailers allow you to opt-in for green energy plans, where they purchase renewable energy on your behalf or where they will make your business carbon neutral by offsetting any carbon your business produces. Learn more about renewable energy options in Australia here.
The increasing deregulation of energy markets across Australia means more small businesses can freely choose their electricity retailer, regardless of whether you’re a new customer or not.
If your business is located in New South Wales (NSW), south east Queensland (SE QLD), coastal South Australia (SA), Victoria (VIC) or the Australian Capital Territory (ACT), you may be able to change retailers or plans freely and take advantage of cheaper energy prices.
Conversely, the government still sets energy rates in Western Australia, regional Queensland and the Northern Territory. As a result, businesses in these areas can’t choose their electricity providers, although this may change in the future. While the government also sets energy rates in Tasmania (TAS), you may still be able to choose your retailer (although there isn’t a lot of choice).
Finding an electricity deal and signing up may only take a few minutes, and the application can be completed quickly. As of 1 October 2021, electricity transfers no longer take up to 90 days as they did in the past. Instead, transfers can now occur within two business days in the future or retrospectively up to 65 days in the past, subject to eligibility. Future transfers may be based on an estimated read.
Always read your electricity plan information carefully, as your previous retailer may impose exit fees.
A Default Market Offer (DMO) is a maximum electricity price that energy providers can charge businesses (and residents) in NSW, SE QLD, SA and the ACT on standard plans for power in their area, set by the Australian Energy Regulator. It’s a fair and standard price that doesn’t offer any discounts or perks.
Market offers are typically cheaper than the DMO and are usually better for your business as they offer discounts and rewards to keep electricity prices down. All market offers use the DMO as a reference price.
VIC uses a similar process to the DMO known as the Victorian Default Offer, but these prices are set by Victoria’s Essential Services Commission.
You shouldn’t expect a power interruption when switching energy plans, unless you’re moving to a new premises. If you are moving, just let us know your intended move date to arrange the connection to your new electricity distributor at the new premises.
A move to a new premises might also be an excellent time to review and potentially switch electricity plans. Our simple electricity comparison service can help you find your business’ new plan in just a few minutes.