Millions of Australians will feel some welcome relief with power bills to drop in the second half of the year.
The Australian Energy Regulator has handed down its final default market offer for south-east Queensland, NSW, and South Australia.
Residential addresses will see prices fall in NSW (by 3.4 to 5 per cent) and south-east Queensland (by 7.2 per cent), while South Australia is bucking the trend with a 1.4 per cent increase.
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That's an average of $66 to $137 off the bill for NSW residents, and a $155 drop for Queensland, alongside a $33 increase for South Australia.
But small businesses in all three zones will enjoy a discount, of 9 to 11.3 per cent ($432 to $705) in NSW, 10.4 per cent in south-east Queensland ($445), and 6.8 per cent ($379) in South Australia.
The bill relief will kick in from July 1 this year.
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Victoria also received welcome news yesterday, with flat rate plans to drop by 3 to 8 eight per cent, saving a typical household between $50 and $160 a year.
The average saving is estimated to be a five per cent drop, or $84.
But experts have reminded consumers that default offers are a "safeguard price" for consumers who choose to not shop around, and there may still be cheaper options out there.
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"I would urge electricity customers to use today's news to shop around for a better energy deal," iSelect comparison expert Sophie Ryan said.
Sophie said a failure to shop around for the best deal could be "costing Aussies dearly" and said consumers should review their plan.
"New prices take effect 1 July 2026, coinciding with the introduction of a new Solar Sharer Offer, giving smart meter households three hours of free electricity in the middle of the day – an opt-in opportunity to cut bills further by shifting usage like washing machines, EV charging or air conditioning to off-peak solar hours," she said.
Canstar found that the bill relief was driven partially by a fall in energy wholesale costs, despite the ongoing global fuel crisis.
It also costs less to deliver power to people's homes, and environmental costs have nearly halved.
