South East Queensland power bills have had the biggest fall of all Australian capital cities according to new Consumer Price Index (CPI) data for June 2019 released today by the Australian Bureau of Statistics.
Energy Minister Dr Anthony Lynham said electricity prices in South East Queensland plummeted by 5.1 per cent for the June quarter.
"This is an excellent result that demonstrates the Palaszczuk Government's Affordable Energy Plan is working to drive down power bills," Dr Lynham said.
"According the Australian Bureau of Statistics (ABS), Brisbane and South East Queensland enjoyed the biggest fall in power prices of any Australian capital city.
"The ABS directly attributes lower household power bills in South East Queensland to the Palaszczuk Government's Affordable Energy Plan."
Dr Lynham said South East Queensland's 5.1 per cent fall in power bills compared with a reduction of 1.5 per cent in Adelaide, 1.8 per cent in Melbourne and 1.3 per cent in Sydney.
"Out of the four states, only Queensland has kept its electricity assets in public ownership; imagine how much higher our power bills would be had the LNP succeeded in selling off our poles, wires and generators to the highest bidder," Dr Lynham said.
"And, the news gets even better for South East Queensland households with the latest quarterly report from the independent Queensland Competition Authority (QCA) showing further savings are available.
"Switched-on South East Queensland householders can save up to $417 a year on their power bills by shopping around. "
Dr Anthony Lynham said the report showed consumers had 24 retailers to choose from to get the best deal.
"A household switching from the average standing offer to the lowest market offer could save up $417 a year," he said.
"And small businesses making the equivalent switch could save up to $545 a year.
"I encourage consumers to shop around electricity providers for better deals and better discounts."
Dr Lynham said the report confirmed that the Palaszczuk Government was on track to deliver on its election commitment of a two-year cap on electricity price rises to average inflation.
"Queensland continues to enjoy the lowest average wholesale power prices of mainland states in the National Electricity Market.
"Regional Queenslanders are also enjoying lower power prices with latest regional QCA determination resulting in a typical household paying $62 a year less, and a small business, $144 less from July 1," he said.
"We are investing $500 million in 2019-20 to ensure families in regional communities pay a similar amount for their power as those in the south-east."
Dr Lynham echoed the QCA's advice to customers to check eligibility conditions carefully when comparing discount offers.
Today's QCA report is a quarterly review of prices in the unregulated south-east Queensland market, where customers can choose between standing offers and market offers, often with a range of conditions and incentives.
The quarterly report is part of implementing the Premier's 2017 Affordable Energy Pledge, when all but two micro-retailers signed up to passing on electricity cost savings from the government's interventions.
