The Australian Energy Regulator has today released the final Default Market Offer Determination.
The independent AER sets the DMO as a benchmark for residential and small business electricity bills in NSW, southeast Queensland and South Australia, while the Victorian Default Offer is set by the Essential Services Commission. The final determination can be found here.
In encouraging news, the AER'S final prices in some DMO regions were not as high as anticipated from the draft prices released in March. However the Government is aware any bill increase will still put pressure on households and businesses.
That's why in the 2025 Budget energy bill relief was extended for a further six months, while further energy market reform to deliver a fairer, better energy system for Australians is underway.
This is in stark contrast with how the former Coalition Government treated energy challenges - it is a matter of record that Angus Taylor changed the law to hide a 20% energy price hike before the 2022 election.
We went to the election with an honest account of the challenges, and a plan to tackle them which we continue to implement.
Importantly, while the DMO is the benchmark for standard offers from retailers, the AER has recorded market offers between 18% and 27% lower than the DMO.
Households should check that they're on the cheapest energy plan available, with recent ACCC data showing some 80% of households could be paying less on a different deal. The Government's energy.gov.au website and the AER's Energy Made Easy website can help billpayers find the cheapest plans.
We began important reform work in the first term, but as we get back to work we know there is more to do when it comes to rebuilding Australia's energy system into the fairer, modern grid we deserve.
The Government is delivering overdue reform to how the energy market operates, including making it easier for people to switch to cheaper deals and retailers under our One Click Switch reforms, ensuring people get the discounts they're entitled to, and boosting consumer protections to ensure no one pays more than they should.
ATTRIBUTABLE TO MINISTER FOR CLIMATE CHANGE AND ENERGY CHRIS BOWEN:
"With energy plans that are between 18% and 27% cheaper than the DMO it's worth shopping around.
"It's clear energy bills for Australians remain too high, and we're providing help for people doing it tough as we deliver longer term reform.
"We also know 80% of households aren't on the cheapest energy plan they could be which is why we're making it easier for households to find and switch to better plans. Check the Energy Made Easy website or energy.gov.au for the cheapest plans in your area."
