Origin has announced it will cut electricity prices for more than 500,000 residential and small business customers on standing offers.
The energy retailer says it will do this by going beyond what’s required with the implementation of the government’s default market offer in July.
An average small business customer in New South Wales on a flat tariff could save between $50 and $91, while customers in Queensland could $107 per year.
An average small business customer in New South Wales on a flat tariff could save between $471 and $832, while an average small business customer in Queensland could save $324 per year.
In South Australia, all Origin small business and residential customers on standing offers and non-discounted plans with a flat tariff will continue to pay less than the DMO.
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Origin’s executive general manager Retail, Jon Briskin said, “Origin is going the extra step by reducing prices for customers where the DMO does not apply, including customers with time-of-use tariffs and those on non-discounted plans”.
“This will make it easy for Origin customers to understand what they are paying compared to the DMO, and we will continue to advocate for a more transparent market that is easy for all customers to navigate.
“This decision also reflects our ongoing commitment to provide price relief for customers including protecting our hardship customers from price increases since 2016.”
The announcement comes after increasing pressure from the Morrison Government for energy retailers to lower prices or face forced divesture.
Energy Minister Angus Taylor recently announced the controversial Big Stick reforms will be on the agenda when Parliament resumes in July.
Origin’s new prices will come into effect on July 1.