Electricity Prices Are Set To Fall Across Australia: Here Are The Included States
*Silent cheers for those included*
It is a Christmas miracle, almost all Australians can expect a reduced electricity bill from 2020 onwards! Well for some of us...
According to the Australian Energy Market Commission's annual report on electricity, prices showed an overall declining rate for the next few years with an average of a $97 off per year per household on everyone's bills from 2020.
Annual bills during the financial year 2018/2019 reached $1370 and have been calculated to fall to $1273 by June 2022.
Although, Western Australia will not see any relief with bills expected to raise $100.
The Northern Territory was also not included in the report as the NT only recently opened to independent generators and their bilateral contracts with retailers were made in commercial confidence.
POWER BILL CUTS IN YOUR STATE
Australian Energy Market Commission figures for the financial year 2019-2022:
Southeast Queensland estimated to fall 20% or $278 (an annual average drop of 7%)
South Australia estimated to fall 2% or $27 (annual average fall of 0.5%)
Victoria estimated to fall by 5% or $53 (an annual average drop of 1.6%)
NSW estimated to fall by 8% or $107 (an annual average drop of 2.8%)
ACT estimated to fall by 7% or $134 (an annual average drop of 2.4%)
Tasmania estimated to fall by 5% or $93 (an annual average drop of 1.7%)
Western Australia is projected to rise by 6% or $102. However, actual price outcomes may be different due to different regulatory arrangements in Western Australia.
For more information, click here.