The Queensland Competition Authority (QCA) has determined to fix the regulated retail electricity prices to apply in regional Queensland during 2020–21.
Chair of the QCA, Flavio Menezes, said the determination resulted in lower prices for most retail electricity tariffs.
“There will be a 5.9 per cent decrease in the annual bill of a typical customer on the main residential tariff (tariff 11) — their bill will decrease by $84, from $1,420 to $1,336,” Professor Menezes said.
“There will be a 3.2 per cent decrease in the annual bill of a typical customer on the main small business tariff (tariff 20), which is a decrease of $75, from $2,338 to $2,263.”
However, he said the change in an individual customer’s bill would depend on their tariff and their actual electricity usage.
“The fall in residential and small business tariffs can mostly be ascribed to lower energy costs,” Professor Menezes said.
“It is important to note prices are set in accordance with the Queensland Government’s uniform tariff policy, which means most regional customers pay less for electricity than it costs to supply them.”
Minister for Energy, Anthony Lynham said Queensland was fighting back from COVID-19, and cost of living relief for households and business was important.
“Today’s news — the biggest drop in 15 years — tops off a range of rebates and relief measures we already have in place to help Queensland recover,” Dr Lynham said.
QCA’s price determination and its accompanying material, is available on the QCA’s website.
The Authority’s 52-page Determination can be accessed at this PS News link.
