Energy consumers around Australia can expect to see an increase in price from July after a new market default decision was released.
The Australian Energy Regulator (AER) recently issued its final Default Market Offer (DMO) which is the benchmark for electricity prices in states including New South Wales, South Australia, south-east Queensland, and Victoria.
Residential customers in New South Wales and south-east Queensland will experience an increase ranging from 20.5% to 21.5%, whilst South Australia will see a slightly higher increase of approximately 23.9%.
Small business owners in New South Wales covered by Ausgrid will see an increase of 14.7%, and those in South Australia can expect a jump of 28.9%. The weight of the above percentages is dependent on controlled or uncontrolled load.
Controlled load customers have separately metered tariffs for specific appliances, and the changes do not affect feed-in tariffs for solar panel owners exporting excess power to the grid.
With the rising cost of living, it’s important that consumers are aware of their options.
The purpose of the AER implementing a benchmark for prices is to ensure consumers are protected and have the option to explore competitive plans and score the best deal on their energy costs. However, installing a solar system is a great way to save on energy costs altogether with most residential systems paying for themselves within a 2-3 year window.
We strongly recommend that all consumers speak to their retailer to find out if they will be affected by the changes, and enquire about a market rate. Then, get in touch with AR Energy about how solar can help.
We have a short lead time of around 3 weeks from sign-in to installation, so you can get ahead of the price rise. Book a site inspection now and we’ll give you an accurate quote to get the process started and have you saving money in no time.
To find out more we have provided some useful links below: