SEQ retail electricity market monitoring - September 2018 quarter

SEQ retail electricity market monitoring - September 2018 quarter

30 Oct 2018

Electricity MEDIA RELEASE

The Queensland Competition Authority (QCA) has released a report after monitoring the prices that electricity retailers in south east Queensland charged between 1 July and 30 September 2018.

QCA Chair Professor Flavio Menezes said the findings show that customers have a wide choice when it comes to electricity retail offers.

"Our analysis identified 20 retailers with residential electricity offers in the September quarter, and 18 with small business offers," Professor Menezes said.

For a typical household, standing offer bills ranged from $358 (Powershop) to $512 (QEnergy), and for a typical small business from $553 (Next Business Energy) to $777 (QEnergy).

For a typical household, market offer bills ranged from $295 (Click Energy) to $432 (Mojo Power), and for a typical small business from $480 (Powershop) to $622 (AGL).

"The QCA's analysis shows the benefits of shopping around in the SEQ market. Customers on standing offers can reduce their bills by switching to market offers, but they need to be aware that standing offers have set terms and conditions, whereas market offers have flexible terms and conditions," Professor Menezes added.

He cautioned customers to pay close attention to the supply and usage charges that discounts are based on, when they compare discounts on various offers.

"The offer with the highest headline discount is not necessarily the cheapest offer," Professor Menezes said.

Electricity customers can compare electricity prices on the AER's Energy Made Easy website, at www.energymadeeasy.gov.au.

The September quarter report is available on the QCA's website, at http://www.qca.org.au/.

The QCA monitors the electricity retail market and publishes quarterly reports, as directed by the Queensland Government.

Media enquiries: Cole Lawson Communications, 07 3221 2220 or 0411 135 005.