Electricity prices for South Australian households and businesses will drop more than expected over the next year.
The Australian Energy Regulator approved the reduction in the default market rate of 2.8 per cent, which will see the average household bill reduced by $63 next financial year, while an 8.8 per cent reduction for businesses should save about $512.
mother-of-two Erin Dunstan, who saw a 50 per cent increase in her electricity bill last year, has welcomed relief today as prices dropped. Business owner Daniel Diamanti said while "any help is good help", the reduction is "a drop in the ocean" compared to what the business has had paid over the last few years.
"As the default market drops, competition increases and you see those prices all drop," Energy Minister Tom Koutsantonis said. Adelaide mother-of-two Erin Dunstan, who saw a 50 per cent increase in her electricity bill last year, has welcomed relief today as prices dropped. However while electricity bills are going down, other household costs such as car registration and public transport tickets are going up."A freeze on the ESL is at least an acknowledgment that this government is not interested in continuing to take and take and take," opposition spokesman Matt Cowdrey said.Continue reading
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