Regional power prices to fall again
For the third year in a row, a drop in power prices will see typical regional household power bills fall by $84 and small businesses by $75 from 1 July 2020.
The independent Queensland Competition Authority’s (QCA) determination will see the typical regional household’s power bill fall 5.9 per cent, and for small businesses, there will be a 3.2 per cent drop on the current 2019-20 prices.
In addition, Queenslanders have benefitted further with $100 in dividend payments over the past two years, and as part of our COVID 19 recovery, a $200 rebate this year.
To provide further relief in the next two years, another two $50 dividend payments have been locked in and will follow.
Small businesses in regional Queensland are also receiving a $500 rebate on their power bill this year.
Power bills have remained on average below inflation since 2018/19.
For the past 3 years regional households have saved around $166 and small business $299 off their power bills .
Queensland is the envy of the eastern seaboard states with the lowest average wholesale prices of mainland states in the National Electricity Market.
The QCA noted the drops are largely due to reduced network and wholesale energy costs, meaning Queenslanders continue to pay lower power prices.
And regional Queenslanders will continue to pay similar prices to their SEQ cousins with around $500 million in subsidies under the Uniform tariff Policy in 2019/20.
Last updated 25 June 2020