South Australia now has cheaper wholesale electricity than either Victoria or New South Wales for the first time in seven years.
This important achievement will drive investment and job creation in South Australia as we become ever more competitive on electricity prices with our eastern state rivals and provide cost of living relief for South Australian households.
“Driving down the cost of living lies at the heart of the Marshall Government’s policy agenda and cheaper electricity is providing significant relief for South Australian households and businesses,” said Minister for Energy and Mining Dan van Holst Pellekaan.
“The benefits of cheaper wholesale electricity are flowing directly into lower household bills with Origin delivering an average annual household saving of 5.6 per cent, default contracts down 4.4 per cent and AGL dropping household prices by 2.7 per cent this financial year.
“The fall in prices in South Australia means Origin customers will be saving a further $127 dollars off their electricity bills this year, AGL is delivering another $62 savings and customers on default contracts will be saving $85.
“The good news for this financial year is in addition to a 3 per cent or $62 fall in the average annual cost of electricity for households on market contracts during 2018-19 according to the SA Regulator, ESCOSA.”
Read the savings figures and find out more from the Premier of South Australia’s website: SA trumps Vic and NSW on wholesale electricity prices