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Price comparison services

Comparison services.

Comparison services enable consumers to compare the price of energy bills, to make an informed decision about which product best suits their needs.

A comparison service provides price and service information, but it is up to the consumer to contact and change retailers.

The independent Victorian Energy Compare tool enables consumers to compare offers from gas and electricity retailers, including information from their smart meter or solar bill to help find the best solar feed-in tariff arrangements for their needs.

For more information, visit the Victorian Government's Victorian Energy Compare website .

Switching services

Switching services offer to find consumers a better deal for their energy services. Consumers provide information about their current bills and usage, which is compared against the prices of different providers. This can be done online or by phone.

Normally, the switching service will cancel the consumer’s existing agreement and sign them up to the new retailer once they have chosen a new company.

Energy services are not always straightforward. Consider the following points:

• From 1 July 2019, if you are on a simple standing offer for your electricity, you will be rolled over to the Victorian Default Offer. For more information, visit the Victorian Default Offer page on the Energy Victoria website .
• Not all energy retailers are compared by each service. Consumers may not be provided with the ‘best’ or ‘cheapest’ offer available on the market.
• Not all services will quote the same price for the same deal or offer. This is because they may have been provided different quotes by energy retailers.
• Often, switching sites do not explain the terms and conditions associated with moving to a new contract. Consumers may find that they are charged a cancellation fee, or do not make the savings they anticipate because they haven’t adhered to terms and conditions of the new contract. Paying on time is a common condition of energy contracts.
• Consider the complexity of the products being compared. Some energy retailers have complicated contractual terms. Research all available offers thoroughly.
• Sites calculate quotes in different ways. Entering different information into different sites can make it hard to compare quotes.

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• Compare Business Energy Plans VIC

Home » Compare Business Energy Plans VIC

Find Better Business Electricity and Gas Plans in Victoria

Small, medium and large businesses alike benefit from our competitive and straightforward energy plans for businesses . Depending upon your usage you and your business could benefit from a customised energy plan created by our team. Simple to manage, easy to understand, and aligned with the needs of your business today, tomorrow, and for many years to come. Your business will enjoy competitive rates from our partners, which will help you make informed decisions about your energy needs and allow us to deliver the best energy plans from our range of energy partners to businesses in Victoria and across Australia.

New customers can sign up online here . For our existing business customers who would like to change their energy plan, you can use the same link, or call us if you prefer.

Compare Business Energy Providers in Victoria

Compare your current energy plan with other plans that are currently available. Enter your details into our comparison tool here , starting with your postcode, so you receive deals specific to your area in Victoria. You can choose the deal that works best for you after you receive your results, which will show how much you can expect to spend compared to what you’re currently spending. You won’t even have to deal with the old or new provider throughout the process – we’ll get in contact with them to get the ball rolling. And we can assure you that your switch will be completed quickly so that you can begin saving.

Compare, Select, and Switch To Cheaper Business Energy Plan

Finding a better energy plan for your business that is more affordable can take time and effort. If you wish to get the best deal for your business, you’ll need to know how energy providers calculate their rates, which energy retailers are available in your area, and how to negotiate. With Select and Switch, finding the best energy deals from our panel of retailers isn’t difficult.

Select and Switch can provide you with many options when comparing energy plans in VIC , and now is the time to find a cheaper price per kilowatt than your current plan.

But why? Because Victoria has one of the most competitive energy markets in Australia, which is why there are so many options.

Many Australian businesses haven’t compared prices in years, which means low rates that ran for a limited period of time may already be past their expiration date. Compared to your current energy usage, you can find cheaper rates by comparing plans with Select & Switch. 

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Business Electricity Tariffs

Business Energy Tariffs Victoria

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NINETOFIVEBIZ

Perfect plan for any daytime business. Super low energy rate 9am-5pm. Get a 5% discount off both your usage charges when you pay-on-time with Direct Debit. This plan has monthly billing.

Save the planet and your wallet with bizgreen. Excellent value energy with 100% carbon offset. 100% of the carbon associated with your energy use on this energy plan is offset so you can now enjoy guilt free energy. This plan has monthly billing.

Get a 2% pay on time discount on electricity usage, and an additional 1% if you opt for our Direct Debit payment.

Biz VicSave

Price certainty for at least 12 months. Great energy rates that are guaranteed for at least a year. Get a 1% pay-on-time discount off your usage with Direct Debit.

A good basic market offer with fair rates. VicSave rates are aligned with the State Government’s “Victorian Default Offer”. Get 5% pay on time discount on electricity usage, and an additional 1% if you select to pay your bill by direct debt. Please note, the Government change the Victorian Default Offer rates every December.

Biz EasySave

Set & forget. Autopay using direct debit to always get great rates. EasySave keeps costs at a minimum and passes on the savings. Set and forget. Requires Direct Debit from a valid Credit Card, E-Billing and E-Communications (Email & SMS). This plan has monthly billing.

Standing Offer

Victorian default offer, effective 01/07/2023.

Get a huge pay-on-time discount on electricity usage, and an additional discount if you select to pay your bill by direct debt.

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Standing offer prices.

% Standing offer prices, effective 01/07/2023.

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Electricity and gas prices, tariffs and benchmarks

Find out more about our decisions on electricity prices and tariffs, gas benchmarks, and payment exclusions

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Victorian Default Offer

We determine prices for standing offers covering electricity retail services in Victoria – Victorian Default Offer prices.

Minimum feed-in tariff

We set the minimum feed-in tariffs that your energy company pays you for power you export to the grid (via sources including solar panels). 

Getting the best energy offer

Find out how to ensure you're on the best offer available from your energy retailer.

All electricity and gas prices, tariffs and benchmarks

Information about how to find your local area retailer's standing offer and the maximum tariffs that can be charged in embedded networks.

Unaccounted for gas is the difference between the measured quantity of gas entering the gas distribution system from various supply points and the gas delivered to customers. We review unaccounted for gas benchmarks in the Gas Distribution System Code.

On 1 July 2020, we introduced new rules to protect residential and small business consumers from unexpected energy price increases. There are two situations where retailers can increase prices more than once a year.

We consulted with retailers a standing offer tariff variation that enabled them to introduce a carbon price-exclusive standing offer tariff.

Events where exclusions were granted from the guaranteed service level scheme.

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Important information for existing customers about  energy bill support .

2024 Energy Bill Relief Fund : The Federal Government has announced that all Australian households and eligible small businesses will receive an electricity rebate. Read more about the rebate . 

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less than the Victorian Default Offer

Lowest possible price of $5,667 (incl. GST) for an average business using 20,000 kWh per year on a flat tariff in the CitiPower network area.

Eligible Vic business customers who sign up to Business Balance Plan only. Conditions apply. Fact sheets available at energyaustralia.com.au/efs . For clear advice on the right plan for you contact us on 1800 702 978 . 

less than the electricity reference price

Lowest possible price of $3,899 (incl. GST) for an average business using 10,027 kWh per year on a flat tariff in the Ausgrid network area.

Eligible NSW business customers who sign up to Business Balance Plan only. Conditions apply.  Basic Plan Information Documents are available at energyaustralia.com.au/bpid . 

Lowest possible price of $3,740 (incl. GST) for an average business using 10,027 kWh per year on a flat tariff in the Energex network area.

Eligible QLD business customers who sign up to Business Balance Plan only. Conditions apply.Basic Plan Information Documents are available at energyaustralia.com.au/bpid . 

For clear advice on the right plan for you, contact us on 1800 146 749 .

Here’s what our business customers say about EnergyAustralia.

"Issue was sorted with great ease." Urology Sydney Services Pty Ltd, NSW

"Best customer service." Ferguson & Plarre Bakehouses Pty Ltd, VIC

"Consultant was helpful and made the process simple and easy." Brisbane Collision Centre Pty Ltd, QLD

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Cheapest Electricity Prices in Victoria

Posted by Katrina Hasdell 02/05/2024

Canstar Blue has produced a cost comparison for electricity retailers in Melbourne, showing their cheapest offers and what you can expect to pay. No gimmicks – just helpful, real costs that show where you can find a better deal.

No one wants to pay more for power than they need to, but if you’re not a savvy energy shopper, that’s exactly what could happen to you. To find the best deal on electricity, you need to understand how the pricing works and what to look for from an energy provider, including the discounts on offer. Sounds like a lot of hard work, doesn’t it?

Everyone in Victoria knows how competitive the local energy market is, but it can be hard to see through all the promotional material and work out if you’re really getting a good deal or not. That’s why we’ve crunched the numbers to show where you can find some of the cheapest electricity rates in Victoria if your home is on the Citipower network and what you need to do to get them. It’s worth noting, however, that there are five electricity distribution networks in Victoria and prices may change depending on where you live.

Based on the cents per kWh of usage costs and daily supply charges of the providers we’ve compared, this page shows estimated annual bills for customers on the Citipower network in Melbourne, compared to the Victorian Default Offer (VDO) as a point of reference.

On this page:

• Electricity prices Victoria
• Compare energy prices in Victoria

Other cheap electricity deals in Victoria

How to get the best energy discounts.

• What sign-up incentives and plans are available to Victorians?
• Victoria electricity rates example

Questions to ask an energy provider before signing up

Which electricity provider is rated highest in victoria, sponsored victorian electricity plans.

• VIC Sponsored Plans

Here are some sponsored deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. Costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available . Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

The pricing shown below is based on the Citipower network in Melbourne, Victoria. If you’d like a more accurate quote from your area, jump onto our comparison tool below.

Cheapest electricity prices in Victoria

According to our database, OVO Energy, CovaU and Tango Energy currently offer the cheapest electricity plans in this comparison for Victoria, leading the way from plenty more established providers. It’s worth noting, however, that electricity prices in Victoria can change fairly frequently, so be sure to check back soon.

To see what you can expect to pay from these retailers, we’ve listed the cheapest plans below. Please note, these prices are based on the Citipower network in Melbourne with a general energy usage assumption of 4000kWh/year. In instances where one provider may have multiple cheap offers, we show only one product with the lowest price estimate first. The Victorian Default Offer (VDO) for this area is currently $1,571/year. Use our comparison tool for a specific comparison.

The Free 3 Plan – Free Energy Between 11am and 2pm Everyday (OVO Energy)

Here is OVO Energy’s plan on our database for Victoria. This is a product from a referral partner†. These costs are based on the Citipower electricity network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Super Saver (CovaU)

Here is CovaU’s plan on our database for Victoria. These costs are based on the Citipower electricity network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Value Select (Tango Energy)

Here is Tango Energy’s plan on our database for Victoria. These costs are based on the Citipower electricity network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Best-Rated Electricity Providers VIC

Sometimes the cheapest possible deal isn’t the right deal for you. Some customers may prefer a specific type of product, which is why we’ve also listed the cheapest plans on our database for customers looking for a specific product type, including plans from the big three, 0% discount plans, discounted plans, plus variable rate and fixed rate plans. These have once again been compared to the VDO.

Cheapest Electricity Plan (Big 3 Provider) – EnergyAustralia, Flexi Plan

Here is EnergyAustralia’s plan on our database for Victoria. This is a product from a referral partner†. These costs are based on the Citipower electricity network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Cheapest Electricity Plan (No Discount) – OVO Energy, The Free 3 Plan – Free Energy Between 11am and 2pm Everyday

Cheapest electricity plan (discounted) – globird energy, glosave.

Here is GloBird Energy’s plan on our database for Victoria. This is a product from a referral partner†. These costs are based on the Citipower electricity network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Cheapest Electricity Plan (Variable Rates) – OVO Energy, The Free 3 Plan – Free Energy Between 11am and 2pm Everyday

Cheapest electricity plan (fixed rates) – energyaustralia, rate fix plan.

Here is EnergyAustralia’s plan on our database for Victoria. This is a product from a referral partner†. These costs are based on the Citipower electricity network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Read more: What’s cheaper: Electricity or Gas?

Discounts can help slash your energy bills, but they’re no longer the main point of difference when comparing plans. In light of the industry changes that took effect in July 2019, many providers have ditched their discounts in Victoria, instead focusing their efforts on providing lower base rates, thus removing the potential pitfall of missing out on the discount. However, discounts for paying on time and paying by direct debit are still common, although some providers instead add bill credits to their plans as another way to attract attention.

In most cases, discounts will be applied to both usage and supply charges, though some will expire after just the first year or two. So be aware that, if you go for a plan with a discount, you’ll have to remember to check back in with your retailer once the benefit period is up.

• Expert Picks: Best Value Energy Plans in VIC

What sign-up incentives and plans are available for Victorians?

Victorians are inundated with different incentives to try and persuade them to sign up with a particular electricity provider. For example, AGL has a rewards program called ‘ ‘AGL Rewards ’ whereby customers can benefit from discounts at a range of retailers. You can also get money off cinema and theme park tickets, amongst other things. Other providers offer a credit on your first bill when you sign up online, usually a fairly modest $50 or $100. Meanwhile, others try to attract customers based on their hobbies – be it going to the movies, or supporting a sports team.

While these discounts can be appealing, it’s important not to let them dictate your overall decision. This should be made based on a provider’s usage and supply charges, and what you expect to pay when the bill arrives every month or quarter. These incentives can, however, be a very useful point of difference when comparing similar offers.

Fixed vs Variable Rate Plans

Most of the electricity plans listed above come with variable rates , meaning the prices you are charged can be changed at any time. That’s why it’s important to regularly review your power bills, to make sure nothing has changed. However, some retailers also offer  fixed rate plans, whereby rates are locked in for a set term and do not change. Traditionally, the bigger providers, like Origin and AGL, had offered fixed rate plans, but now you’ll find only a limited number of small providers still offering a fixed rate plan. See our guide to fixed rate power plans  to compare your options if you’re interested in a bit more price certainty.

Victoria Electricity Rates Example

Electricity rates in Victoria can change regularly, and as in most states, energy bills can vary by hundreds of dollars a year depending on the rates you pay. Based on the winner of our electricity customer satisfaction ratings, we’ve given you a closer look at what rates you can expect to pay in Victoria.

Here are some questions you should consider asking any prospective energy company:

• Are you offering me the plan with the lowest usage rates?
• How much are the supply charges and how do they compare to other plans?
• How does the plan compare to the Victorian Default Offer (VDO)?
• Is there a contract? How long is it? Are there any exit fees if I leave?
• What discount can I get off my bill and how do I quality for the discount?
• What is the benefit term of the discount? Will it disappear after a year?
• Can you offer me any additional sign-up incentives?
• Which types of electricity tariffs are available in Victoria ?

No one wants to pay more than they need to for electricity, so it makes sense that the bottom line will decide which provider many consumers go with. However, other factors, most notably customer service, can also prove important. Call centres are a major bugbear for customers because there’s nothing worse than hanging on the phone for ages, trying to get a straight answer to a straight question. The energy companies should be working hard to keep you happy, in terms of the price you pay, but also the customer service you receive. That’s the reason why Canstar Blue produces customer satisfaction ratings for electricity providers in Victoria every year. Red Energy is currently rated highest overall.

If there is one message to take away from this report, it’s that regularly reviewing your electricity plan and comparing it to other offers on the market is a wise move, particular in Victoria where the energy companies are competing hard for your custom. You might just save a few bucks.

Compare Gas Suppliers in Victoria

Victoria Electricity Facts

Here’s a summary of the information above. Essentially, a quick, need-to-know breakdown of Victoria’s electricity market. 

Victorian Default Offer

Citipower:  $1,571/year based on general usage of 4000kWh/year

Jemena : $1,720/year based on general usage of 4000kWh/year

Powercor Australia:  $1,793/year based on general usage of 4000kWh/year

Ausnet Services:  $2,026/year based on general usage of 4000kWh/year

United Energy: $1,666/year based on general usage of 4000kWh/year

Number of Energy Providers in VIC

Winner of canstar blue’s most satisfied customers – electricity providers vic award, vic distribution networks.

Citipower, Jemena, Powercor Australia, Ausnet Services, United Energy Distribution

VIC Gas Distribution Networks

Australian Gas Networks, Multinet Gas, AusNet Services

VIC Electricity Tariff Options

Single rate, time of use, controlled load

VIC Electricity Generation

Coal, gas, hydro, solar, wind farms, biomass

Year VIC electricity market was deregulated

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*NSW, QLD and SA: Price is GST inclusive and is: The estimated lowest possible price a representative customer would be charged in a year for this plan, assuming all conditions of discounts offered (if any) have been met, based on the AER’s model annual usage in the distribution region as stated at the top of each table.

~ VIC: Price is GST inclusive and is: The estimated lowest possible price a customer would be charged in a year for this plan, using the Victorian Government’s annual reference consumption for domestic customers in your distribution region as stated at the top of each table and assuming all conditions of discounts offered (if any) have been met.

ACT:  Price is GST inclusive and is: The estimated lowest possible price a representative customer would be charged in a year for this plan, using the Independent Competition and Regulatory Commission (ICRC) annual reference consumption for domestic customers in your distribution region as stated at the top of each table and assuming all conditions of discounts offered (if any) have been met.

TAS: The price shown is inclusive of GST and is the estimated lowest possible price a representative customer would be charged in a year for this plan, assuming all conditions of discounts offered, if any, have been met. The general usage for products displayed in the table for Tasmanian postcodes is based on the median electricity usage of customers in Tasmania. The median usages are: 2,947 kWh/year for a Single Rate tariff, and 7,428 kWh/year for a Single Rate + Controlled Load tariff. These usage assumptions are based on the latest Typical Electricity Customers in Tasmania report released by the Office of the Tasmanian Economic Regulator. If the amount of electricity you actually use differs greatly from this estimate, your bill could be significantly larger or smaller than the charges listed for each plan.

Some plans may require you to meet certain conditions before a discount may become available to you. Check the energy provider’s plan information for details of all possible discounts that may apply and any conditions that need to be met to be eligible for these discounts. Some plans may have a minimum term longer than one year. In that case the total cost over the term will be much higher than the price (which is only for one year). Consider the provider’s detailed product and pricing information before making a decision to take out a new plan or switch electricity providers.

^What is the Reference Price?

The reference price is set by the Australian Energy Regulator (AER) for a financial year in relation to electricity supply to residential customers in the distribution region and is based on an assumed annual usage amount. Any difference between the reference price and the unconditional price of a plan is expressed as a percentage more or less than the reference price.  The terms of any conditional discounts are shown, along with any further difference between the reference price and the discount applied if a condition is met, expressed as a percentage more or less than the reference price.

> What is the VDO?

The Victorian Default Offer (VDO) includes a daily supply charge and usage charges (per kilowatt hour). Differences in tariffs across distribution regions reflect the unique costs of providing electricity services in each area. The difference between the VDO and the unconditional price of a plan, based on the Victorian Government’s annual reference consumption for domestic customers in the distribution region, is expressed as a percentage more or less than the VDO. The terms of any conditional discounts are shown, along with any further difference between the VDO and the discount applied if a condition is met, expressed as a percentage more or less than the VDO.

Solar Products:

Annual cost estimates exclude solar payments. Feed-in tariffs shown are single rate only. Solar products may only be available to solar customers and some products may only be available to customers who purchase solar PV or other products through the retailer.

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†By clicking on a brand, ' go to site ', ' shop online ', ' get quotes now ', or ' see offer ' button, you will leave Canstar Blue and be taken to our referral partner to compare. Canstar Blue may be paid for this referral. You agree that Canstar Blue’s terms and conditions apply to this referral. Please note that references to an 'offer' do not mean that you will automatically be accepted or eligible for a product, eligibility requirements may apply.

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Money blog: Rolex increases prices - here's how much one will set you back

Rolex has increased the price of some of its watches in the UK after the cost of gold surged. The luxury watch manufacturer has hiked some prices by as much as 4%. Read this and the rest of today's consumer and personal finance news below - and leave your thoughts in the comments box.

Monday 3 June 2024 12:13, UK

• Why British mortgage holders (and maybe holidaymakers) should be watching Frankfurt this week
• London could be set for second biggest listing in its history
• Shein shoppers warned about phishing scam
• Rolex increases the cost of some watches - here's how much one will set you back

Essential reads

• Your rights when deliveries or returns don't arrive - and why leaving instructions could jeopardise them
• What happens to our brains when we shop?
• Think twice before buying your holiday clothes from Zara
• Where is all the money going? Here's who is really responsible for concert tickets going crazy
• 'A truck unloaded a £600 car that her son bought on eBay thinking it was a toy' - the schoolgate stories that led to GoHenry
• Best of the Money blog - an archive

Ask a question or make a comment

Rolex has increased the price of some of its watches in the UK after the cost of gold surged. 

The leading luxury watch manufacturer has hiked some prices by as much as 4%. 

One of its most famous pieces, the Daytona chronograph, will now cost you £38,700 - up from £37,200. 

The price of a yellow golf GMT Master II has also increased from £34,000 to £35,400. 

That's according to information on its UK website, which is tracked by Bloomberg. 

Typically, Rolex raises prices for its watches annually in January.

It increased prices in the UK by about 4% for some models at that time but left US prices unchanged.

It comes after the price of gold reached record highs earlier this year, coming in at £1,932.44 per ounce in April. 

Increased prices isn't the only thing that makes buying a Rolex difficult, though. 

Despite high prices, waiting lists for them have been rising, according to Watches of Switzerland. 

Some waiting lists can be years long, which is part of the reason they are so exclusive.

So even if you have a spare £35,000, you might still find it difficult to actually get your hands on one. 

By Sarah Taaffe-Maguire , business reporter

Eyes were fixed on the London Stock Exchange today for detail on a company that isn't even listed. 

Chinese-founded fast fashion giant Shein is set to publicly list in London, according to Sky's Mark Kleinman , a move that would make it the most high-profile public flotation for more than a decade and the second biggest initial public offering (IPO) in the history of the London Stock Exchange.  

A company "floats" when it offers shares on a stock market - comes into public shareholder ownership from being private - with an IPO being the first time shares are publicly available for purchase. 

There was no update posted this morning, but an announcement could come later this week or month. 

Drugs company GSK is the worst performer of the morning with its share price down 9.4% following news it will face jury trials in claims by thousands of people with cancer who say a heartburn drug it developed, Zantac, caused their illness.

Sterling buys €1.1714, down from the 19-month high of last week. Another high could be reached as the European Central Bank will likely cut interest rates on Thursday. One pound equals $1.2732.

A barrel of Brent crude, the benchmark oil price, is $81.43, low by the standards of the past three months. 

GameStop shares have surged after a Reddit account that drove the 2021 meme stock mania shared its position in the video game retailer. 

The chain's shares were 90% higher at $46 each as of 9.11am after Keith Gill, who goes by DeepF------Value on Reddit and Roaring Kitty on YouTube and X, reappeared online on Sunday night. 

He posted a screenshot of what appeared to be his portfolio holding a significant amount of GameStop common shares and call options. 

Reminder: A call option is basically a contract which allows a buyer to purchase stock at a specific price until a certain date. 

The Reddit trading crowd's favourite trader holds five million shares of GameStop worth $115.7m as of Friday's closing price, according to the account screenshot. 

The account also showed a position of 120,000 call options in GameStop with a strike price of $20 that expire on 21 June that were purchased for about $5.68 each.

GameStop shares closed Friday at $23.14.

Mr Gill's first return to social media three weeks ago sparked an eye-popping rally in GameStop with shares more than doubling in May alone.

At the time, he simply posted a picture of a man in a chair leaning forward, but that was enough to trigger a buying frenzy among amateur traders.

The investor was a former marketer for Massachusetts Mutual Life Insurance.

In 2021, through YouTube videos and Reddit posts, he encouraged a band of retail traders to squeeze out short selling hedge funds in GameStop.

The action got so wild at one point that brokers had to restrict trading in the stock as it blew up their clearing house margin.

By Katie Williams , Money team

We've all learned how to be more conservative with our money amid an increase in the cost of living - but it's still important to treat ourselves now and again.

And there's some science behind that happy feeling you get when you make a new purchase, as  consumer psychologist Dr Cathrine Jansson-Boyd  explains in the first of four features on the psychology of shopping running this week.

What happens to our brains?

When we buy something, our brain releases endorphins and dopamine. Such a release can give us a sense of pleasure, albeit momentarily, Dr Jansson-Boyd says.

You might be more likely to continue buying things if you think that temporary feeling of pleasure is important, she adds, though she notes for some even just the experience of shopping can trigger the dopamine, without anything being bought.

Buying sale items increases dopamine

Dr Jansson-Boyd says purchasing items at a reduced price can increase your dopamine level.

When shoppers see a product they like with a price they perceive as "fair", they experience a level of satisfaction in the part of the brain associated with the anticipation of pleasure, she explains.

However, if the price is perceived as "unfair", the insula - a part of the brain that registers pain - is typically activated.

The negative impact of dopamine

It's also important to note dopamine can have negative influence on spending behaviours, Dr Jansson-Boyd says. 

For example, when buying chocolates, the release of dopamine generates what can be thought of as a reward-seeking loop. 

This means that a person experiences repeated craving of a dopamine rush and repeatedly buys chocolates to experience the dopamine rush. This can lead to unwanted spending. 

"As you can imagine, such 'craving' can also lead to fairly serious consequences if the spending is done on gambling or drugs," she adds.

So are there 'healthier' alternatives to get that release? 

As Dr Jansson-Boyd mentioned previously, window shopping can trigger a surge of dopamine without you needing to buy anything.

Other non-shopping activities such as eating healthily and listening to your favourite music can also trigger a similar release, she says.

Can you get out of chasing the dopamine rush? 

Being aware is a good start, says Dr Jansson-Boyd, as it may "put the brakes on the shopping".

But she notes that if the chasing of dopamine becomes an obsession, then seeking professional help is best as the consequences can be "serious".

"However, if it is not of a serious nature then training yourself to think pragmatically about the shopping helps. 

"For example, if you find that you are keen on 'special offers', then make sure you are equipped with information about whether you are getting a genuine bargain," she says.

She also recommends taking a step back, going for a cup of tea or visiting another shop every time you see something you want to buy.

Dr Jansson-Boyd says: "If you still want to go back to the item, perhaps you really do want it. However, in many cases you will find that you forget about it entirely or that you are not that fussed."

Coming up in this series:

• Tuesday: The five different types of shopping addiction
• Wednesday: 'I was an addict - I ended up in £40,000 of debt'
• Thursday: The techniques big brands use to get us buying more, more, more

Every Monday we get an expert to answer your money problems or consumer disputes. Find out how to submit yours at the bottom of this post. Today's question is...

I purchased two pairs of shorts from Nike a year ago. I shortly after returned them for a refund as they didn't suit me. Nike are saying I can't be refunded due to them not receiving the returned items. Even though I have supplied the Royal Mail proof of postage. Lee F

Scott Dixon, from The Complaints Resolver , says Lee is very unlikely to get a positive outcome in this case.

"The problem is that you have left it so long to resolve the issue. It's highly unlikely (virtually impossible) this can be resolved for that reason - you cannot leave a complaint on missing goods in transit for a year and expect a remedy."

Though there's unlikely to be a positive resolution here, delivery issues are common – so Scott has walked us through people's basic rights when things go missing…

Your contract is always with the retailer, not the courier firm, to ensure that your order is safely delivered, says Scott. If it hasn't turned up, the first thing you need to do is to contact the retailer. 

"It is their legal responsibility to make sure the item is safely delivered to you under the Consumer Rights Act 2015. They should contact the courier – who they've entered a contract with - and let you know what has happened to your item.

"S29 (2) of the Consumer Rights Act 2015 states the goods remain at the trader's risk until they come into the physical possession of the consumer, or a person identified by the consumer, to take possession of the goods."

The retailer can either refund you or rearrange for the goods to be delivered, says Scott.

If this doesn't work, raise a chargeback with your bank or credit card provider within 120 days of your purchase or payment to get a refund.

"You need to push hard on chargebacks and cite 'breach of contract' under the Consumer Rights Act 2015, as chargebacks are often rejected on the first attempt," says Scott.

"Your bank or credit card provider will reverse the payment and give the retailer an opportunity to present their case.

"Retailers don't like dealing with chargebacks as they are problematic and costly to resolve."

What if you leave delivery instructions?

This could see you lose all rights.

Scott explains: "If you give specific instructions to the retailer for the item to be left in the porch, 'leave in shed at rear' or another designated safe place, and it is stolen, then you are responsible because the retailer and courier have simply followed your instructions."

You have a 14-day cooling off period for all non-bespoke items under the Consumer Contracts Regulations 2013.

Scott says: "A retailer will usually provide a returns label or a website link to their returns policy, and give instructions for you to return goods. Usually a retailer will engage a courier firm for returns - be it Royal Mail, DHL etc etc."

This often involves dropping the item off at a local convenience store, where labels are scanned.

"Convenience stores often say you will get a receipt by email. This isn't always the case, leaving you high and dry if the goods go missing in transit," warns Scott.

To protect yourself, Scott says you should follow the policy courier firms use when they deliver goods to you: take a photo of the goods at the point of handover and insist on a receipt. 

"This is your proof if you need to dispute lost goods in transit," he says.

"The retailer will push back in these cases when goods are lost in transit with a fob off saying it's not their fault and the responsibility lies with the courier, which is blatantly untrue."

Scott says the retailer engaged the courier firm to safely return the goods and the Consumer Rights Act 2015 applies. 

"Remember, your contract is with the retailer – you're following their return instructions. So this is on them.

"You need to push hard on this and cite 'breach of contract' under the Consumer Rights Act 2015 to get a full refund.

"If you hit a brick wall, simply raise a chargeback with your bank or credit card provider and cite 'breach of contract' under the Consumer Rights Act 2015 to dispute the transaction."

As a last resort you can take your case to the Small Claims Court in England and Wales - or use the respective legal routes in Scotland and Northern Ireland .

What if a company doesn't provide specific returns instructions?

Your contract is then with the courier - but much of the above still applies with them. S49 Consumer Rights Act 2015 states that every contract to supply a service is to be treated as including a term that the trader must perform the service with reasonable care and skill.

Sky News contacted Nike for comment.

This feature is not intended as financial advice - the aim is to give an overview of the things you should think about.  Submit your dilemma or consumer dispute via:

• The form above - you need to leave a phone number or email address so we can contact you for further details
• Email [email protected] with the subject line "Money blog"
• WhatsApp us  here

Interest rates are likely to be cut in the eurozone this week despite inflation accelerating in May.

The European Central Bank is expected to move on Thursday, before both the US Fed and the Bank of England.

The decision is important for mortgage holders and savers - and potentially holidaymakers - in the UK because the country doesn't exist in an economic bubble.

Markets currently expect the BoE to wait until August or September - but what happens on Thursday could shift that.

Laith Khalaf, head of investment analysis at AJ Bell, explained earlier this year: "There is some safety in numbers for central banks, because of the exchange rate effects of pulling away from the herd. Cutting rates too far ahead of others can lead to currency weakness, and additional inflationary pressure as a result. 

"Leaving it too late can do unnecessary financial damage to the domestic economy."

As Mr Khalaf suggests, if the BoE doesn't quickly follow it may be good for UK holidaymakers, who could find their pound buys more should the euro endure a period of weakness.

The main ECB rate is currently 4% - and a cut is still widely anticipated despite inflation accelerating from 2.4% to 2.6% last month.

ECB officials have warned of an uneven path back to the target of 2% inflation. 

Interest rates are kept high to encourage saving over spending - when this happens, price rises tend to slow.

In the UK, the base rate has been kept at a 16-year high of 5.25% since last autumn - though inflation is now at 2.3%, within touching distance of target.

The next rate decision here is on 20 June.

If there is a surprise in Frankfurt this week, it would likely have a negative impact on the market and perhaps set back expectations of a BoE cut.

Shoppers at Shein are being warned of a new phishing scam that threatens their personal information and money.

The scam sees customers receive an email that offers them a Shein mystery box and encourages them click on a link to claim their prize.

However, clicking on the link takes users to a fake site which allows cyber criminals to gain access to personal details. 

Marc Porcar, CEO of QR Code Generator, has warned shoppers: "Whilst Shein does offer legitimate mystery boxes during promotions or special events, the way to know if they are legitimate is to recognise the website you are directed to.

"The website you are directed to by scammers mimics Shein's, and the obvious way to indicate this is the URL, which is different from the official website."

How can you spot a fake Shein website?

• The domain name for Shein is shein.com and any variations to this should be considered untrustworthy. You should also make sure the site has "https" URLs and lock icons;
• Check for a legitimate contact page with company addresses, customer service numbers and employee information;
• Search for online reviews of the website from a trusted independent source;
• Pay attention to images edited poorly as Shein uses professional photography for all of its products;
• Be cautious of prices that seem more than 50% lower than Shein's real pricing;
• Look out for spelling and grammar errors throughout the site.

We're back for another week of consumer news, personal finance tips and all the latest on the economy.

This is how the week in the Money blog is shaping up...

Monday: This week's Money Problem is from a reader who says Nike are refusing to refund him on two pairs of shorts - he's been told they never arrived back, yet says he has proof of postage.

Tuesday : We're continuing our new Women in Business  feature - interviewing women who are bossing their industry. And this week's  Basically...  explains everything you need to know about student finance.

Wednesday : The new King Charles III banknotes come into circulation - and we have another top chef picking their best Cheap Eats,  this week from Warwickshire.

Thursday : The ECB is widely expected to cut interest rates in the eurozone. Here in Money,  Savings Champion  founder Anna Bowes will be back with her weekly insight into the savings market.

Friday : We'll have everything you need to know about the mortgage market this week with the guys from Moneyfacts.

Running every weekday, Money features a morning markets round-up from the  Sky News business team  and regular updates and analysis from our business, City and economic correspondents, editors and presenters -  Ed Conway ,  Mark Kleinman ,  Ian King ,  Paul Kelso  and  Adele Robinson .

You'll also be able to stream  Business Live with Ian King on weekdays at 11.30am and 4.30pm.

Bookmark  news.sky.com/money  and check back from 8am, and through the day, each weekday.

The Money team is Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young and Ollie Cooper, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

Spending a fair chunk on going to see your favourite big artist is not new - but it certainly feels like concert prices have entered a new stratosphere.

Fans of Bruce Springsteen have paid upwards of £120 for "rear pitch" standing tickets for his May 2024 tour, while some expressed disappointment recently over the £145 price tag of standing tickets for Billie Eilish's 2025 UK leg.

And while you could have nabbed Beyonce or Taylor Swift tickets in the UK for £50 (before fees) if you took a "nosebleed" seat, these had limited availability and quickly sold out. General admission standing tickets for Swift's Eras tour - which comes to the UK next week - started at £110.40 and those at the front had to shell out £172.25. It didn't stop there - by the time many fans got to the front of the online ticket queue, the only tickets left cost upwards of £300.

So what's behind rising ticket costs? These are some of the reasons...

Fans willing to pay for big spectacles

Simply put, ticket prices would come down if people voted with their feet.

Matt Hanner, booking agent and operations director at Runway, said prices at the top level had "risen considerably" - but the increase was partly being driven by demand.

"We're seeing a lot more stadium shows, greenfield, outdoor festival-type shows which are now a staple of towns around the country," he said.

"There's a growing number of people that are happy to spend a large chunk of their disposable income on going to a major music event."

Jon Collins, chief executive of LIVE, the trade body representing the UK's live music industry, had a similar view.

He said there were more large-scale shows and tours now than ever, and there was "massive appetite" among music lovers for "bigger spectacles".

Fancy shows mean higher costs - with staffing, the price of the venue, transport, artists' needs, insurance and loads more to factor in.

Of course, all these things are affected by inflation. Collins said ticket prices also factored in the rising costs that had hit every venue from the grassroots scene to major arenas.

"You've got a couple of different factors - you've got the spectacle of the show and the production cost and everything that goes into the ticket price. But then you've also got the fundamentals," he said.

The cost of venue hire has increased "significantly" in the past couple of years due to electricity and gas price rises, he added.

"You've got the increase in the cost of people… very justifiable costs like increases in minimum wage and living wage. At every stage of the process we've got these cost increases that will all push through the pressure on the ticket price."

Are artists being greedy?

How much money artists really earn off live touring is of interest to many - but the music industry is generally reluctant to release details.

The people we spoke to suggested it was not as simple as artist greed because, as we mentioned earlier, there's a lot to pay for before anything reaches their bank accounts.

The Guardian spoke to anonymous insiders about this topic in 2017. Its report suggested that between 50-70% of gross earnings were left for promoters and artists. The piece also cited a commonly quoted figure that the promoter takes 15% of what is left and the act will get 85%.

It all depends on the calibre of the artist and how much work the promoter has had to put in - they could end up with a bigger share if it was a hard push to get the show sold.

The people we spoke to said music acts and their teams would discuss the ticket price, and the bigger the act, the more sway they have - but it's ultimately set by the promoter.

Taylor Swift - arguably the biggest popstar on the planet right now - is personally earning between $10m and $13m (£8m - £10.5m) on every stop of her Eras Tour, according to Forbes. She is reported to take home a whopping 85% of  all revenue  from the tour.

But it's worth pointing out, too, that she's been known to be generous with her cash, having given $100,000 bonuses to the dozens of lorry drivers working on the tour.

What have other artists said? 

Some artists have been critical of the high ticket prices being demanded by others.

Tom Grennan told ITV two years ago that he had seen "loads of artists putting tickets out that are way too expensive for the times that we are in", adding that he wanted people to enjoy shows without worrying if they could pay their bills.

Singer-songwriter Paul Heaton was also praised for capping ticket prices for his tour with Jacqui Heaton at £30 in a bid to tackle music industry "greed" and help people during the cost of living.

British star Yungblud recently announced his own music festival, Bludfest - saying the industry was too expensive and needed to be "shaken up".

"I believe that gigs are too expensive, festivals are too expensive, and I just wanted to work to create something that has been completely done by me," he told Sky News.

Meanwhile, frequent Swift collaborator Jack Antonoff has said "dynamic pricing" by ticket sale sites such as Ticketmaster was also an issue when it came to cost.

He told Stereogum that he wanted artists to be able to opt out of the system - which basically means ticket prices increase when a show is in demand - and be able to sell them at the price they choose.

On its website, Ticketmaster describes its "Platinum" tickets as those that have their price adjusted according to supply and demand.

It says the goal of the dynamic pricing system is to "give fans fair and safe access to the tickets, while enabling artists and other people involved in staging live events to price tickets closer to their true market value".

The company claims it is artists, their teams and promoters who set pricing and choose whether dynamic pricing is used for their shows.

Ticketing website fees

As well as dynamic pricing, "sneaky" fees by online ticket sites are also causing issues for live music lovers, according to the consumer champion Which?.

A report from the group last month said an array of fees that isn't seen until checkout can add around 20% to the cost of concert and festival tickets.

Which? has urged a crackdown on the "bewildering" extra charges, which include booking, "delivery" and "transaction" fees, venue charges and sometimes charges for e-tickets.

The Cure lead singer Robert Smith tweeted that he was "sickened" after fans complained last year about processing fees  on Ticketmaster that wound up costing more than the ticket itself in some cases.

Responding to the Which? findings, Ticketmaster (which was far from the only company named) said: "Fees are typically set by and shared with our clients… who all invest their skill, resource and capital into getting an event off the ground. Ticketmaster supports legislation that requires all-in pricing across the industry."

Live Nation and Ticketmaster sued over 'dominance'

The US government is suing Ticketmaster owner Live Nation over allegations the company is "monopolising" the live events industry.

Justice department officials said it was unfair for the firm to control around 70% of primary ticketing for concerts in America. 

Live Nation has been accused of using lengthy contracts to prevent venues from choosing rival ticket companies, blocking venues from using multiple ticket sellers and threatening venues that they could lose money and support if Ticketmaster wasn't the chosen seller.

Live Nation said the lawsuit reflected a White House that had turned over competition enforcement "to a populist urge that simply rejects how antitrust law works".

"Some call this 'anti-monopoly', but in reality it is just anti-business," it said.

And it said its share of the market had been shrinking and its profit margin of 1.4% was the "opposite of monopoly power".

The lawsuit "won't solve the issues fans care about relating to ticket prices, service fees and access to in-demand shows", the company said.

"We will defend against these baseless allegations, use this opportunity to shed light on the industry and continue to push for reforms that truly protect consumers and artists."

As well as reportedly controlling most of the ticketing market, Live Nation also owns and represents some acts and venues.

Canadian artist Dan Mangan told Moneywise this was enabling the company to take "more and more of the pie".

He said when venue rent, equipment and other costs were taken into account, lesser known artists could take as little as 20% of ticket sales.

Another major cost on tickets in the UK is VAT (value added tax).

At 20%, it's pretty hefty. It was brought down to 5% and then 12.5% as the live music industry was hampered by COVID, but returned to the pre-pandemic level in April 2022.

The charge puts the UK "out of step" with other countries, Collins said.

"In competitive major markets like France, it's 5%. Germany it's 7%, Italy it's 10%. Sales tax in the US is typically 6% or 7%. So we are significantly out of step with other markets when it comes to how much VAT we charge on tickets," he said.

Touring now bigger source of income for major stars

With the decline of physical products and the rise of subscription listening, artists are earning less from making music - and income from live shows has become more important for the biggest stars.

Writer and broadcaster Paul Stokes said major stars who would have toured infrequently in the past were now willing to put on more shows as it becomes increasingly profitable.

Some artists will even pencil in multiple nights at huge venues like Wembley Arena, he said - something that wouldn't have been considered two decades ago.

"When Wembley was built and they said 'we'll be doing regular shows' you'd think 'are there acts big enough to fill this massive stadium?'

"It's become absolutely part of the live calendar that artists will come and play not just one night at Wembley, but two or three every every summer."

Stokes said this demand has also prompted the scale of shows that we've become used to seeing, featuring expensive production and pyrotechnics.

Not being felt evenly

While a night out seeing a platinum-selling artist is likely to be an expensive affair, industry figures are also keen to point out that the escalation in ticket prices isn't necessarily happening at a lower level.

Collins said that while major stars were putting on arena shows, there would be plenty of other live music taking place at the same time, "from the free pub gig to the £10 ticket at the grassroots venue, to the £30 mid-cap".

"There's an absolute range of opportunities for people to experience live music, from free through to experiencing the biggest stars on the planet," he said.

But concertgoers choosing to save their cash for artists they're more familiar with may have led to a "suppression" of prices for lesser-known acts, Hanner noted.

"Everyone's short of disposable income because there's a cost of living crisis. [Artists' and promoters'] core costs are going up as well, so it's more expensive for everyone. That fear of pricing people out is just being compounded," he said.

"I think [that] has definitely led to prices being suppressed [at the lower level], when really they should have been going up."

With May in the rearview mirror, here are the key money dates for your calendar in June. 

1 June onwards - benefit changes

While benefits rose 6.7% from 8 April for many claimants, those who had their last assessment period before then will have had to wait until June to receive the new, higher rate. 

The exact date in June when that payment is made will depend on when you were assessed.

Also from 1 June, all people claiming Housing Benefit alone will be asked to claim Universal Credit instead within three months of receiving the letter.

Failure to do so could result in you losing your entitlement.

1-2 June - Heathrow disruption

Hundreds of border force officers at Heathrow Airport are striking until Sunday in a dispute over rosters.

More than 500 of its members working on passport control at terminals 2, 3, 4 and 5 are taking action.

Disruption is expected over the weekend as families return to the UK at the end of the half-term holiday.

5 June - new banknotes

Banknotes featuring the face of the King will enter circulation across the UK. 

Notes that feature the portrait of the late Queen will remain legal tender and will co-circulate.

The new banknotes will only be printed to replace those that are worn and to meet any overall increase in demand.

10 June - £500 cat fines

All cats over 20 weeks old in England must be microchipped by 10 June.

You could face a £500 if you miss the deadline and don't get your cat microchipped in the following 21 days.

The law does not apply to the rest of the UK.

16 June - Father's Day

As the day dedicated to dads and father figures approaches, it may be worth remembering to put some cash aside to treat them in mid-June.

19 June - inflation data released

We'll get May's inflation data in the monthly drop from the Office for National Statistics. 

This will give us the clearest indication of whether the Bank of England will lower interest rates.

Remember, the Bank's target is 2% (April's headline rate was 2.3%), so the closer we get to that number the better. 

20 June - interest rate decision

Another Monetary Policy Committee meeting at the Bank of England will determine whether we finally get a drop in interest rates. 

Many economists predict a cut from 5.25% will happen in August, but June isn't ruled out.

27 June - doctors' strike

Junior doctors in England will begin a five-day strike at 7am over pay.

The last strike by junior doctors led to 91,048 appointments, operations and procedures being postponed.

30 June - meter readings

Not a fixed date - more of a reminder.

From 1 July, the energy price cap will fall by £122 per year.

Your provider will do most of the work, but you can help keep your bill accurate by submitting meter readings (unless you have a smart meter) ahead of this date. 

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