Dr Anthony Lynham


New financial year electricity price cuts

Energy savings

12 July, 2018 –

Electricity rate cuts of between 1.3 and 8.6 per cent kick in for Queenslanders this month.

Australia’s three biggest gas and electricity providers – EnergyAustralia, Origin and AGL – have announced residential price cuts of between 1.3 and 3.8 per cent for South East Queenslanders.

The Queensland Competition Authority (QCA) has also recently confirmed that regional households can expect to see bill reductions of 1.3 per cent this financial year.

Small business in SEQ will receive bill reductions of between 1 and 7.2 per cent whereas regional businesses will see reductions of 3.4 per cent.

The Palaszczuk Government is putting pressure on prices and they are going down. More than $464 million was allocated in the 2018-19 Budget to ensure families in regional areas pay a similar amount for their electricity to a family or household in Brisbane.

The benefits of Queensland owning its power assets, and coordinated action through our $2 billion Affordable Energy Plan will be felt in the hip pockets of residents and small businesses this financial year.

This is in stark contrast to the policy being floated by the LNP, which will increase $434 per year for the average customer, and which in their previous, single term of Government, presided over an overall price increase of more than 40 percent.

It pays to shop around – Simply Energy has recently announced it will cut its rates by 5.4 per cent for residents and 8.5 per cent for small businesses as of August. Similarly, Powershop has announced it will cut the household rate by 8.6 per cent.

When you add in the concessions and subsidies available, such as to pensioners and concession card holders, there are real savings to be made.