1 July 2019 Energy Price Changes
Australia's major energy retailers in New South Wales, Queensland and South Australia will be updating their electricity and gas price tariffs on 1 July. See how prices will change for your energy provider from 1 July 2019.
Factors that may affect business and residential electricity and gas prices in 2019
Default market offers
From 1 July, energy customers on standing offers in New South Wales, South East Queensland and South Australia will automatically switch to lower default market offer rates.
This will likely save hundreds of dollars per year for residential customers on the highest energy rates, although better savings can still be found by shopping around for retailer market offers and discounts.
Wholesale electricity prices
After the Coalition's surprise election win on 18 May, sharp spikes in the wholesale electricity rate were recorded immediately following the result, in response to an absence of a comprehensive energy policy from the government.
Following the departure of Malcolm Turnbull as prime minister in 2018, the National Energy Guarantee was scrapped due to lack of party support for emission reduction targets. Expect greater wholesale price volatility until investment certainty is created in the energy market.
The rising cost of energy was one of the biggest election topics this year, with energy minister Angus Taylor threatening Australia's largest retailers with forced breakups and asset divestment in an unprecedented 'big stick' regulation approach.
It's likely that the threat of an industry shake up will be putting pressure on retailers to hold off on passing any price increases.
Looking for a better energy rate?
Speak to the energy experts at Make it Cheaper today and we'll help you find a better electricity or gas deal.