Regional households will see the largest fall in a decade following the Queensland Competition Authority (QCA) price determination last week.
Queensland Energy Minister Dr Anthony Lynham said typical bills for regional households would fall by 1.3 per cent and by 3.4 per cent for a small business.
“This the second time in three years households and small businesses will see a cut in their power bills,” Dr Lynham said.
“This determination complements decisions already undertaken by the Palaszczuk Government that have placed downward pressure on electricity prices.
“The QCA lower power prices will be welcome relief to regional households which will pocket around $20 and small businesses around $86.”
Dr Lynham said the government’s strategy to ease the pressure on consumers included directing our network businesses not appeal the Australian Energy Regulator’s (AER) decision – resulting in network prices decreasing for four years in a row.
“The QCA also agreed the government’s direction to Stanwell Corporation to adjust its bidding behaviour, and returning Swanbank E power station to service has decreased wholesale prices, following the massive increases that occurred under the LNP Government.
Dr Lynham said the state government had made a commitment to Queenslanders to keep power bill increases below inflation over the next two years “and this latest determination again confirms that we are ahead of the game’’.
“We know Queenslanders continue to experience cost of living pressure, and we are also helping people to save through our Affordable Energy Plan,” Dr Lynham said
“Because of the initiatives in the Affordable Energy Plan, on average Queensland now has the lowest retail prices of all mainland states in the National Electricity Market (NEM).”