Energy prices are coming down

Over 458,000 Australian families and 39,000 small businesses are getting a better deal on their energy prices thanks to pressure from the Morrison Government on the big energy companies to put customers first.

Origin Energy and Alinta have today joined AGL, EnergyAustralia, Next Business Energy, WINconnect, and PowerShop in lowering standing offers on 1 January 2019.

Red Energy and Lumo Energy have also announced they will provide customers on standing offers in Victoria, South Australia, New South Wales and Queensland savings on their electricity bills of between $195 and $270 per year for an average user.

Current standing offer prices are a ‘loyalty tax’ on those who have stayed with their energy company, find energy deals confusing or simply don’t have time or ability to shop around for a better deal.

The Government believes customers should be rewarded for loyalty – not punished. The loyalty tax must go.

These energy companies have heard the Government’s calls for a fairer deal for Australian families and small businesses, and they have responded.

The Government urges other energy companies to follow the lead of these companies and act in the interest of their customers.

We know rising power prices are impacting household budgets, and are stopping small businesses from growing and employing more staff.

The Government has a balanced and sensible plan for affordable 24/7 reliable energy for Australian families and businesses. We are:

  • Introducing big stick legislation to stop the dodgy, anti-competitive practices of the big energy companies, including banning sneaky late payment penalties and making energy retailers pass on savings in wholesale prices to customers.
  • Developing a price safety net to stop big energy companies ripping off loyal customers who don’t have time to shop around for a better deal.
  • Backing investment in new reliable and dispatchable generation to improve competition, lower prices and guarantee reliable supply.
  • Supporting reliable power by requiring energy companies to sign contracts guaranteeing enough energy to meet demand.

The Government is delivering on its promise to lower power prices while we keep the lights on.

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