Further cuts to electricity prices for South Australians

Proving that the Marshall Liberal Government’s energy policies are driving down the cost of electricity for South Australians, the Australia Energy Regulator (AER) has today announced a $117 cut to the draft Default Market Offer (DMO) for residential customers.

If the draft DMO is adopted, more than 60,000 South Australian households on legacy – or standing offers – will see their bills fall by 6.4% from July 1, taking their total savings to $397 since the last State Election.

This is a fall of nearly 19 per cent in electricity prices since the 2018 election – and is in stark contrast to the skyrocketing electricity costs that were seen under Labor.

More than 10,000 small businesses are set to save an average additional $342 from July 1 if the DMO is adopted, taking their average savings since the election to $2,053. That’s a fall of around 20 per cent since the election.

Minister for Energy and Mining, Dan van Holst Pellekaan said the reduction in the DMO by the AER is further proof the Marshall Liberal Government’s policies are working to drive down power prices.

“Today’s draft DMO announcement follows the latest report from the Essential Services Commission of South Australia (ESCOSA), which showed households on the average retail offer have seen their electricity bills fall by $111 since the middle of last year,” said the Minister.

“ESCOSA’s report showed that the average residential retail offer has reduced from $2,244 to $1,975, a $269 saving since we came to government. That’s a fall of 12% since the election.

“So whether households are on standing offers or retail market offers, they have access to significantly cheaper electricity.

“The same report showed that the average small business market offer has gone down more than 18 per cent since the election.

“More South Australian households and small businesses are saving money on their electricity since the Marshall Liberal Government was elected.

“It’s clear our policies, such as the largest roll-out of home batteries in the world, support for the SA-NSW interconnector and programs such as the Grid Scale Storage Fund and Demand Management Trials are helping to drive down power prices.

“With the interconnector modelled to deliver an additional $100 cut to power bills for households, consumers can expect to save even more under a Marshall Liberal Government.

“We’ve also leased Labor’s state-owned diesel generators to increase supply in the market and also run on gas.

“The Marshall Liberal Government will continue to deliver on our commitment to lower electricity prices while delivering the most ambitious renewables target in South Australia’s history of net-100% renewable generation by 2030.”