Hundreds of thousands of Australian families and small businesses will pay less for their energy bills from 1 July.
The Australian Government’s Default Market Offer (DMO) price cap locks in cheaper electricity prices across south-east Queensland, South Australia, and NSW.
The DMO protects customers in these regions from excessively high standing offer contracts.
Residential standing offer customers in:
- South Australia will save an additional $116 a year
- south-east Queensland will save an additional $53 a year
- NSW will be better off by as much as $102 a year.
Small business customers in:
- South Australia will save an additional $272
- south-east Queensland will save $243
- NSW will save $441.
Average residential customers who were on the highest standing offers before the DMO, will see their electricity bills fall by as much as $780 per year.
Bills for average small business customers on the highest standing offers before the DMO will fall by as much as $3105.
The Hon Angus Taylor MP, Minister for Energy and Emissions Reduction, said the DMO is continuing to deliver for Australians.
‘As we bounce back from the COVID-19 pandemic, low energy prices will help drive our economic recovery by boosting the spending ability of households and businesses,’ the Minister said.