Potential power bill savings are still on the table for savvy shoppers in the south-east corner.
Energy Minister Dr Anthony Lynham said today’s report from the independent Queensland Competition Authority (QCA) showed SEQ power prices stable for the first quarter of 2019, with savings of up to $360 a year for savvy shoppers.
“Competition is working in the south-east corner, with four new retailers entering the market in the March quarter, meaning competition among 24 retailers is helping to drive down prices,” he said.
“This also reduces prices for regional consumers, because long-standing state government policy requires regional prices to be on a par with the competitive SEQ prices.
“In short, lower, stable SEQ power bills helps drive down regional power bills.”
Today’s QCA quarterly SEQ market report shows a typical household can save on average up to $360 a year when switching from the average standing offer to the lowest market offer.
Small businesses could save up to $612 a year.
Power prices haven’t risen for a year-and-a-half in south-east Queensland, and Queensland continues to have the lowest average electricity prices of mainland states in the National Electricity Market.
But Dr Lynham said consumers needed to shop around in SEQ to get the benefits of the various market offers available.
“I urge Queenslanders to keep shopping around and to ask their retailer for a better deal,” he said.
“Competitive pressure gives power retailers more reason to offer a wider range of offers.”
The Government’s Affordable Energy Plan, backed by continuing public ownership of Queensland’s electricity assets, includes:
- a two-year cap on electricity price rises to average inflation
- a $50 annual rebate over two years for every household.
- rebates for energy efficient appliances
- grants and interest-free loans to install rooftop solar panels and batteries
- rewards for regional Queensland households and small businesses for switching to more regular electronic billing or direct debit.