Queensland electricity prices set to fall by $144
Author: Darvin Tocmo Date Posted:3 June 2019
Cuts to home and small business power prices will fall in regional Queensland in the next financial year because of downward pressure thanks to renewable energy, the state government says.
Most regional Queenslanders will see their power bills fall next financial year, after a ruling by the Queensland Competition Authority.
Typical customers on the main residential tariff will see their power bills fall by 4.4 percent in 2019/20.
Small businesses are also set to save, with those on the main business tariff to see bills drop by 5.8 percent under a final determination released by the authority on Friday.
Typical customers on the main residential tariff will see their power bills fall by $62 from July 1, while small businesses are also set to save.
Those on the main business tariff will see bills drop by $144 a year.
Energy Minister Anthony Lynham says the savings are a result of the state government’s renewable energy policies, which are forcing prices down and cutting emissions.
“About 5200 megawatts of new renewable generation is entering the national electricity market, with 1350 megawatts committed in the Queensland market,” Mr. Lynham said.