Around 4.3 million households across Queensland, New South Wales and South Australia are benefiting from a reduction in retail electricity prices.
Small business owners in Queensland with Powershop will save up to $1470 a year on their bills, while residential bills will be $140 less a year.
In NSW, EnergyAustralia customers on Secure Saver will see a $65 reduction in their annual household electricity bills and a small business in South Australia with Red Energy could save up to $1360.
Federal Energy Minister Josh Frydenberg said further power price relief is on the way.
“The National Energy Guarantee (NEG), in conjunction with existing policies, has been forecast to reduce household electricity bills by $400, according to the independent Energy Security Board,” he said.
AGL has also announced it has expanded its low, fixed rate energy plan AGL Essentials to Queensland, New South Wales and South Australia.
Chief customer officer Melissa Reynolds said AGL Essentials was a simple energy plan available through digital channels that guaranteed customers no rate changes for 12 months.
“Customers are wanting greater transparency and simplicity when it comes to their energy plans,” Ms Reynolds said.
“Our customers tell us discounts can be confusing which is why we responded with an easy- to-understand plan with a low fixed rate.
“The positive response of customers demonstrates they recognise the benefits of a simple plan that provides better value when packaged with leading digital services.
“Another benefit is there is no need for customers to work out rates after ‘discounts’.
“Being able to monitor energy costs via an app means that customers can better understand their energy usage – and with a digital meter relate it to what was happening in their home without waiting weeks or months for a bill to arrive.”