State Government of Queensland : Power price deals offer SEQ savings

An independent report shows that shopping around for electricity deals can deliver annual savings of up to $588 for south-east Queensland households.

The Queensland Competition Authority (QCA) today released its latest quarterly report on the SEQ retail electricity market, showing that swapping suppliers could generate annual savings of up to $588 for householders and $1072 for small businesses. Read the report.(external site)( http://www.qca.org.au/getattachment/53daf980-4dca-43c6-a24f-1e665d7c8753/QCA-SEQ-retail-electricity-market-monitoring-rep.aspx )

Energy Minister Dr Anthony Lynham said the regular report allowed government to monitor electricity retailers and the impact of government's all-out attack on electricity affordability.

'SEQ electricity retailers signed up to our Affordable Energy Pledge late last year, and we commissioned this regular investigation by the QCA to keep an eye on how that's going,' he said.

'Retailers pledged to pass on all the savings to consumers that the government is making in our publicly-owned electricity system.

'Queensland consistently has the lowest wholesale electricity price in the national electricity market.

'We are watching to make sure that the benefits of those lower prices, and our other measures, are passed on to consumers.'

Outside the south-east corner, around 8000 households and small businesses have signed up for discounts offered under the Affordable Energy Plan ( https://www.dews.qld.gov.au/electricity/affordable-energy-plan ).

The discounts --- $75 for households and $120 for small businesses ---- are for Ergon customers who take up monthly billing options. Government-owned Ergon Energy is the only electricity retailer in regional Queensland.

The quarterly QCA reports are also an element of the Palaszczuk Government's affordable energy plan.

It pegs electricity price rises to average inflation for the next two years and is delivering every accountholder a $50 discount as a dividend from the state's publicly-owned electricity businesses

The QCA report shows:

• for residential customers, $466 is the highest standing offer (QEnergy) and $319 is the cheapest market offer (Alinta). The difference is a quarterly saving of $147, or an annual saving of $588.
• for small business customers, $729 is the highest standing offer (ERM Power) and $461 is the cheapest market offer (QEnergy). The difference is a quarterly saving of $268, or an annual saving of $1072.

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Media contact: Jan Martin 0439 341 314