The latest quarterly report of the Queensland Competition Authority (QCA) reveals that consumers can now choose from 27 retailers to secure the best deal on their power bills.
The report shows that a typical household switching from the highest standing offer to the lowest market offer could save up to $412 a year — and a typical small businesses making the equivalent switch could save up to $1,044 a year.
In a statement, the QCA said that in these unprecedented times, getting the best deal possible on a power bill was important to help relieve cost-of-living pressures.
“Any customers experiencing hardship as a result of the COVID-19 economic impacts should also talk to their electricity retailer about different support options available to them,” the Authority said.
Minister for Natural Resources, Mines and Energy, Anthony Lynham said the Government’s economic strategy for recovery included a $300 million household relief package with $200 off utility bills.
“These QCA figures show shopping around could save even more,” Dr Lynham said.
“The Government also subsidises regional power bills by almost half-a-billion dollars annually to ensure families in regional communities pay a similar amount for their power as those in the South-East.”
The QCA’s report is a quarterly review of prices in the unregulated South-East Queensland market from April to June.
