Australian Energy Regulator: Lower power prices for households and businesses

The Australian Government’s third iteration of the Default Market Offer (DMO) takes effect today. The DMO locks in cheaper electricity for 700,000 standing-offer customers across NSW, South Australia and south-east Queensland. The DMO protects customers in those jurisdictions from excessively high standing-offer contracts.

The DMO also acts as a reference price for customers to compare offers from different retailers.

Energy savings
Residential customers in South Australia and south-east Queensland will save up to $116 per year. Customers in NSW will save around $102 per year. Small business customers will save an additional $272 in South Australia, $243 in south-east Queensland, and up to $441 in NSW.

Average residential customers who were on the highest standing offer before the DMO began will save up to $780 per year. Bills for average small business customers on the highest standing offers before the introduction of the DMO will fall by up to $3105.