I don't think it is all that clear just yet to all that see this as really nothing has changed because it all there for everyone if you want the best price on electricity.
The biggest catch for some is where there is only one supplier and too lazy to ring up and ask.
Changes in prices for energy market offersChanges in prices for energy market offers
A big improvement on previous years
This is the sixth year in which regulators have set default market offers for retail electricity customers. They do it where there is competition in the sector: so in southeast Queensland, New South Wales, South Australia and, separately, Victoria.
It does not include Tasmania, the ACT, Western Australia or the Northern Territory, where the relevant regulator sets the prices and there’s no or very little competition.
About 5-10% of consumers across the states involved are on default plans. The rest have a contract arrangement with a retailer. But the draft decision, if enacted, still directly affects hundreds of thousands of people. And as commentatorshave observed, it sends an important market signal about the general direction of electricity prices.
The Australian Energy Regulator says most residential customers on the default market offer can expect to save on their electricity bills in 2024-25. But the offers vary depending where you live.
Have a look at the table above to see what residential customers without “controlled load” can expect. That covers most households. (Controlled load is when you also have an off-peak tariff for hot water heating.)
Some customers will be paying more for electricity. In Southeast Queensland, residential customers will pay 2.7% more, which is an extra $53 on average.
