Power bills set to fall despite Iran uncertainty
Power bills are expected to decrease for many households across the eastern seaboard of Australia. The Australian Energy Regulator has announced price cuts on standard electricity plans starting July 1, due to falling wholesale electricity prices. Small businesses will see the most significant reductions, with some rates dropping by over 10%.
- ▪The maximum rates that retailers can charge customers on standard electricity plans will be reduced by up to 7% in some areas.
- ▪The cuts represent the largest reductions since 2022, when energy prices surged due to geopolitical tensions.
- ▪Small businesses in NSW will benefit from rate cuts of up to 11%, while households will see reductions of up to 5%.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.