Power prices are up 13% on a year ago. In NSW, the price cap has become the price
Electricity prices were 13.2% higher in August than a year earlier, according to today's Consumer Price Index from the Australian Bureau of Statistics. Headline inflation rose to 4.0%, a day after the Reserve Bank lifted the cash rate to 4.60%.
What the 13.2% actually means
Most of that rise is not retailers putting prices up this month. The ABS attributes it to the end of Commonwealth electricity rebates. A year ago, rebates were taking money off household bills. Now they aren't, so the bill households see is the full price of their plan.
That makes the plan you're on matter more than it has in two years.
The cap has become the price
We checked all 577 generally available single-rate electricity plans on the three NSW networks on 29 September, using the regulator's Consumer Data Right data.
- 43% cost the same as the Default Market Offer or more. The DMO is the price cap the regulator sets for default plans. It is meant to be a ceiling that protects people who never shop around.
- Four retailers set their cheapest plan exactly at the cap on all three NSW networks: EnergyAustralia, ENGIE, Kogan and Diamond. For these retailers the ceiling is the starting price.
- 192 plans changed price in the last 30 days alone. The price you signed up to may not be the price you're paying now.
The gap is real money
Sydney
Western Sydney
Regional NSW
| Network | Default price | Cheapest plan | Difference |
|---|---|---|---|
| Ausgrid (Sydney) | $1,899 | $1,440 | $459 a year |
| Endeavour (Western Sydney) | $2,328 | $1,769 | $559 a year |
| Essential (regional NSW) | $2,604 | $2,063 | $541 a year |
Regional households start further behind. On Essential Energy's network the median plan charges $924 a year in supply charges before a single light is switched on. That's $360 more than in Sydney.
A Western Sydney household on the default plan pays about $2,328 a year. On the cheapest plan, the same usage costs $1,769. That's $46 a month back.
How to check if you're paying the cap
Every electricity offer has to say how it compares to the reference price (the DMO). Look at your plan's fact sheet or the offer you signed up to:
- "0% below" or any figure above the reference price: you're paying the cap or more. There are cheaper plans on your network.
- Well below the reference price: you're already near the cheaper end. Check the rate hasn't changed since you signed up.
Then:
- Ring your retailer and ask for their cheapest plan. If their cheapest is at the cap, look elsewhere.
- If you can shift usage to the middle of the day, look at time-of-use plans. In Western Sydney the median cheapest period is 20c/kWh against a 42c/kWh peak.
- Concession card holders: check the NSW Low Income Household Rebate, up to $285 a year.
Interest rates are out of households' hands. The power bill isn't.
Retailer-by-retailer tables for each network: NSW electricity report
Wondering what this means for your bill?
Compare plansMethod: all generally available single-rate NSW plans in the CDR product reference data on 29 September 2026, annual cost at typical usage, GST included, compared with the AER Default Market Offer for each network. Excludes restricted plans and controlled load. EnergyPlans is an Australian energy comparison platform built on the regulator's CDR data; we earn a referral fee when someone switches through our partner. Media: media@energyplans.com.au