EnergyAustralia has today announced that electricity rates for Victorian household and business customers will decrease in 2021, reflecting lower wholesale prices and network costs.
Effective 1 February 2021, the average1 household on a market offer variable rate plan with EnergyAustralia will save about $144 a year on their electricity bill (a decrease of 6.1 per cent) while the decrease for small-to-medium businesses is $529 a year (a decrease of 8 per cent).
Reflecting increases in the cost of buying and transporting gas, average household gas bills will rise by $59 a year (3.2 per cent) and $300 for small-to-medium businesses (3.9 per cent).
EnergyAustralia Chief Customer Officer Mark Collette said:
“2020 has been tough for many customers, marked by the devastating bushfires and the coronavirus pandemic. We’re glad we have been able to help our customers throughout.
“As we move into a new year, we're pleased to provide much-needed relief for Victorian households and businesses with their electricity costs.
“In 2021 the average customer that has both electricity and gas with us on variable rate market contracts will be better off overall because of the decrease in electricity rates.
“This year we have provided households more payment plans and extensions than ever before through EnergyAssist, and we established Rapid Business Assist for small businesses. We continue to ask customers to reach out the moment it might become too difficult to pay their energy bill.
“There may still be households and businesses who need our help. We’re here to help – please make contact with us. We also encourage any customer on the Victorian Default Offer to take up one of our market offers in 2021 that could potentially save them well over $100 per year.”
NOTE TO EDITORS:
- Electricity market offer prices will decrease in 2021 due to reductions in the regulated network price set by the Australian Energy Regulator, as well as in wholesale costs, which continue to decline as more renewable energy projects come online.
- The reduction also follows the Essential Services Commission (ESC) determination in November that customers on a Victorian Default Offer will see their bills decrease on average by 10 per cent (14 per cent for small business customers).
- The ESC’s decision is due to decreases in network prices and wholesale electricity costs, while reflecting some increases to partially fund the support retailers provided Victorian customers throughout the coronavirus pandemic.
- In response to the COVID-19 pandemic, since the beginning of March 2020 in Victoria EnergyAustralia has provided more than 110,000 payment plans, 50,000 payment extensions and helped hundreds of residential customers access government grants that they didn’t realise were available.
- Our specialist business advisors have also set up more 12,000 payment extensions, 1,500 payment plans, helped more than 1,000 businesses with cash flow and provided advice on lowering energy consumption and guidance on government energy relief subsidies.
- EnergyAustralia’s EnergyAssist program supports around 23,500 residential customers in financial distress across Victoria, New South Wales, Queensland and South Australia.
1Based on an EnergyAustralia market plan, before applying any discount and excludes customers on fixed-rate plans.