New retailer brings more competition to SEQ electricity market

South-East Queenslanders now have another opportunity to shop around for a better electricity deal thanks to the entry of a new electricity retailer since the deregulation of the electricity market.

Energy Minister Mark Bailey told Parliament today the entry of innovative retailer Mojo Power will provide South East Queenslanders with an even wider range of new electricity products.

“Mojo Power’s arrival is an early sign that deregulation of retail prices is driving better outcomes for consumers,” Mr Bailey said.

“Mojo brings to South-East Queensland a completely different business model than we have seen before, offering customers discounted prices under a subscription-based service.”

Mojo CEO and Co-Founder James Myatt believes the Mojo offer is a real game changer for Queensland consumers.

“We have already had thousands of enquiries from Queenslanders wanting to sign up to Mojo,” Mr Myatt said.

“We are a retailer absolutely aligned to the consumer’s desire to pay less for electricity.”

Mr Bailey said the Government deregulated South-East Queensland’s electricity market to encourage new market entrants such as Mojo, meaning customers will have more opportunities to save money on their bills.

“Two electricity retailers have entered the small business market since deregulation commenced on 1 July and we have been seeing different offers for all customers available in the market weekly,” Mr Bailey said.

“We are encouraging South-East Queenslanders to take advantage of the full benefits of a deregulated marketplace through an extensive public consumer education campaign.

“We are also providing extra support to ensure that potentially vulnerable customers are able to engage in the market.

“Our $1.2 million funding agreement with the Queensland Council of Social Service over the next four years will help build the capacity of the community sector to better manage their electricity costs.

“It is important that vulnerable customers are empowered to access the tools and information they need to compare offers and get the best energy deal available.

“Mojo’s entry to South East Queensland’s electricity market is another sign of industry confidence in a deregulated electricity market, and I encourage South-East Queenslanders to make the most of the new opportunities this evolving market brings,” Mr Bailey said.

Deregulation of South East Queensland’s retail electricity market became effective on 1 July 2016 following the recommendation of the Queensland Productivity Commission.

Mr Bailey said studies have indicated that electricity bill savings in a deregulation market could be up to $400 per year/bill, depending on individual circumstances.

South-East Queensland electricity consumers can shop around for a better deal by visiting the EnergyMadeEasy independent price comparator at www.energymadeeasy.gov.au

ENDS

Media contact: Zoe Russell – 0428 079 640