27 April 2021
Record-breaking investment in large-scale solar and wind energy generation has helped to slash electricity prices for a range of customers in New South Wales, south-east Queensland and South Australia, with a reduction in 2021-22 Default Market Offers set to deliver more than $65 million in bill savings.
In its final determination on DMOs published on Tuesday, the Australian Energy Regulator said electricity costs for the 727,000 customers on so-called standing offers would be cut by up to $116 for households and up to $441 for small business, starting July 01.
Based on modelling from ACIL Allen, the AER has determined final DMO prices for residential customers in 2021-22 will be between $53 to $102 lower than in 2020-21 in New South Wales, $53 lower in south east Queensland, and $116 lower in South Australia.
Power prices fall as mild summer, renewables reduce generation costs
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Power prices fall as mild summer, renewables reduce generation costs
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Power prices fall as mild summer, renewables reduce generation costs
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