Electricity customers better off in Queensland

Further proof of the effectiveness of the Palaszczuk Government’s energy policies came today with the announcement of a 3.8 per cent reduction in household electricity prices and a ‘best in nation’ report from the Australian Energy Market Commission.

EnergyAustralia announced that Queensland would see the biggest reduction of all their state jurisdictions with an average 3.8 per cent for households and 7.1 per cent for small businesses.

In Queensland, EnergyAustralia household customers will see an average saving of $83 a year and small business customers will see a saving of $460 a year.

The AEMC report found Queensland had highly competitive electricity deals, with annual savings of more than $500 available to households and $2000 for businesses for those willing to shop around.

“This is further evidence that the Palaszczuk Government’s Affordable Energy Plan is delivering for Queenslanders,’’ Energy Minister Dr Anthony Lynham said.

“AEMC’s analysis shows retail energy prices in South East Queensland are decreasing - in comparison to the rest of Australia where prices have gone up.

“According to AEMC analysis, a Queensland householder can pocket up to $504 a year by switching from the median standing offer to the cheapest market offer. 

“Business customers can pocket up to $2152 by switching from the median standing offer to the cheapest market offer in Queensland -  some of the largest savings in the National Electricity Market.’’

Today’s announcement by EnergyAustralia follows earlier reductions in prices by Origin and AGL of 1.3 and 1.6 per cent for households.

“The trajectory of electricity prices is on the way down in Queensland – just last month regional households saw the largest fall in a decade with bills for regional households set to fall by 1.3 per cent and by 3.4 per cent for a small business,’’ Dr Lynham said.

“This is in direct contrast to the LNP Government which oversaw an increase of 43 per cent in just one term of office.’’

The price for new digital meters also was announced today.

Dr Lynham said AEMC national rules which came into effect on 1 December 2017 required all new or replacement electricity meters to be modern, digital meters.

“To ensure regional customers pay a fair price for metering, in April I intervened and asked the Queensland Competition Authority not to set more  metering charges so that all Queenslanders paid the same price

“Instead, to cover the costs of the digital meter rollout, regional households and small businesses on Tariff 11 or Tariff 20 will pay a set rate of $5.77 extra per year.

“For households and small businesses which also have a controlled load tariff, the additional charge will be limited to  $5.85 per year.

“The Palaszczuk Government had made a commitment to all Queenslanders to keep power bill increases below inflation over the next two years and this latest analysis by an independent commission confirms that we are ahead of the game.” Dr Lynham said.

To read the full AEMC report 2018 Retail Energy Competition Review visit www.aemc.gov.au.

Media enquiries: David Potter 0428 411 617