Power prices in south east Queensland have decreased or remained stable for the fourth quarter in a row according to the independent Queensland Competition Authority (QCA).
State Energy Minister, Anthony Lynham, said the report released the QCA confirmed that since the State Government introduced the Powering Queensland Plan in mid-2017, power prices had been on a downward trend.
“The report highlighted the benefits of shopping around, with households saving on average $65 per quarter when switching from a standing to a market offer,” Dr Lynham said.
“Overall, consumers can now save $260 a year, on average, by shopping around.’’
“The report also shows small business can save around $83 on their power bills by shopping around.
“One of the reasons I directed the QCA to monitor quarterly power prices was that it allows us to regularly gauge the retail market in south east Queensland to ensure our energy policies are putting a lid on power prices.
“I’m pleased to see all 20 retailers in south east Queensland provided a market offer that was consistent with the regulated rate in regional Queensland.
“This means regional consumers also enjoy lower power prices because government will invest over $460 million this year to keep regional and SEQ prices on a par.
“With the measures from our $2 billion Affordable Energy Plan in full swing we will continue to deliver on lower power prices.’’
The State Government is making energy more affordable through:
- A $50 annual rebate already paid this year and with further $50 payment scheduled for 2019
- Paying 54,467 rebates worth $13.23 million for energy efficient appliances
- Interest-free loans for eligible customers to install solar panels