We have released our final determinations of regulated retail electricity prices and the solar feed-in tariff for regional Queensland that will apply from 1 July 2024.
QCA Chair Professor Flavio Menezes said this year’s determination of regulated retail electricity prices results in higher prices for most customers in regional Queensland, although prices for small business customers will be lower.
“For instance, for typical residential customers, the prices would result in an annual bill increase of:
- 5.0% (or $96) for the customers on flat-rate tariff 11
- 3.2% (or $73) for customers on a combination of flat-rate tariff 11 and controlled load tariff 33.
For typical small business customers, the prices would result in an annual bill decrease of 1.1% (or $27) for customers on flat-rate tariff 20.”
Importantly, these bill impacts are indicative only — an individual customer’s actual bill will vary due to the application of government rebates and concessions, in particular the Queensland Government’s $1,000 cost of living rebate, and how much electricity that customer uses.
“The increase is mainly due to higher network and retail costs this year, which has been partly offset by a decrease in energy costs,” Professor Menezes said.
The prices reflect the Queensland Government’s longstanding uniform tariff policy. This means that most regional customers will continue to pay less for electricity than it costs to supply them. In addition, this year prices have been capped by the Australian Energy Regulator’s default market offer for south-east Queensland, which has made small customer notified prices lower than they otherwise would have been.
We have also released a final determination of the regional solar feed-in tariff, which is the amount a customer in regional Queensland will receive for the electricity they export to the electricity grid.
The feed-in tariff for 2024–25 is 12.377 cents per kilowatt hour, which is 7.9% lower than last year’s feed-in tariff. This is due to a decrease in energy costs this year.
Media enquiries: Cole Lawson Communications, 07 3221 2220
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