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Large Business rate changes
Read more about these changes below.
Electricity Retail Changes
Are the rates for all environmental charges changing from 1 January 2024?
Generally, yes. Environmental charges are made up of two inputs:
- The relevant scheme’s certificate price; and
- The relevant scheme’s obligation percentage as determined by the regulator of each scheme.
Rates for environmental charges generally change from 1 January 2024 due to a change in the obligation percentage of the applicable schemes.
What are the changes to environmental charges?
The obligation percentage for the 2024 calendar year have been announced for the Victorian Energy Upgrade initiative (VEU), the ACT Energy Efficiency Improvement Scheme (EEIS) and NSW Energy Saving Scheme) ESS. As a result, your charge will change, and the new charge will appear on invoices issued from 1 January 2024.
- In March, we’ll be advised of the Large-scale Renewable Energy Targe (LRET) and Small-scale Renewable Energy Scheme (SRES) obligation levels for the 2024 calendar year, after they are determined by the regulator of each scheme. Until this time your rates will remain unchanged. After we are notified of the changes, you’ll see the new rates on your invoices, together with an adjustment backdated to 1 January 2024, for the difference between what you were charged and the new rate
| Environmental scheme | Participating state(s) | Description of charge on invoice |
| Large-scale Renewable Energy Target | VIC, SA, ACT, NSW, QLD | LRET Charge |
| Small-scale Renewable Energy Scheme | VIC, SA, ACT, NSW, QLD | SRES Charge |
| Victorian Energy Upgrade | VIC | VEU – Electricity |
| ACT Energy Efficiency Improvement Scheme | ACT | ACT Energy Efficiency Scheme |
| NSW Energy Savings Scheme | NSW | NSW Energy Savings Scheme |
| SA Retailer Energy Productivity Scheme | SA | SA Retailer Energy Productivity Scheme |
For more details on each scheme, you can go to:
- Clean Energy Regulator Clean Energy Regulator - Home
- Homepage | Essential Services Commission
- Energy Efficiency Improvement Scheme - Climate Choices (act.gov.au)
- Energy Savings Scheme | NSW Climate and Energy Action
Gas Retail Changes
Which gas charges will change from 1 January 2024?
Environmental Charges in Victoria
Fixed (transmission) Charges in NSW, ACT and SA
Gas Commodity Charges in NSW, ACT, VIC and SA
Changes to Victorian transmission charges: Tariff D only
The Australian Energy Regulator has approved new gas transmission tariffs for Victorian customers effective from 1 January 2024. You’ll see the new tariffs applied to your invoices from this date under the heading ‘Network Usage’.
You can find more details at Australian Energy Regulator (AER)
Changes to Victorian environmental charges?
The Victorian Energy Upgrade charge will change in accordance with the announced obligation percentage and the new rate will appear on invoices issued from 1 January 2024.
Please note: If you’re exempt from the VEU, the new rate won’t apply to you.
Changes to gas transmission charges: Tariff D (NSW, ACT and SA)
The rates for the Fixed Monthly (Transmission) Charges in New South Wales, the Australian Capital Territory and South Australia changed from 1 January 2024 in line with CPI, in accordance with your Gas Sale and Supply contract.
You’ll see updated charge rates on your invoices after 1 January 2024.
Changes to gas commodity charge: (NSW, ACT, SA & VIC)
Effective 1 January 2024, where applicable, your Gas Commodity Charge rate will be updated in accordance with your Gas Sale and Supply contract to reflect the CPI adjustment.
You’ll see updated charge rates on your invoices after 1 January 2024.
What changed on 1 July 2023 for electricity customers?
The Australia Energy Regulator (AER) has approved new network charges for all states:
- New South Wales
- Victoria
- Queensland
- South Australia
- Australian Capital Territory
The Australian Energy Market Operator (AEMO) changed its Participant and Full Retail Contestability (FRC) charges for the following states:
- New South Wales
- Victoria
- Queensland
- South Australia
- Australian Capital Territory
Why have these rates changed?
Rates are generally reviewed annually and change in accordance with the Australian Energy Regulator (AER) and the Australian Energy Market Operator (AEMO) determination.
What are my new rates?
To discuss your new rates, please call us between 9am and 5pm AEST on 1300 362 466 and choose option two to speak to a business energy specialist.
Where can I see the change in Participant and Full Retail Contestability (FRC) charges on my bill?
You can easily view any updates to participant charges under ‘Market Charges’ on your invoices from 1 July 2023.
Do all retailers pass on the network charges to their customers?
Retailers generally pass on network charges to their customers, unless a customer (usually a very large customer) has entered into a separately negotiated connection contract with their local network service provider (and this is rare).
To find out what other retailers do, you are best to ask them directly.
What changed on 1 July 2023 for gas customers?
Network charges for the following states have changed for Tariff D customers:
- New South Wales
- Victoria
- South Australia
- Australian Capital Territory
Short Term Trading Market (STTM) charges for the following states have changed:
- New South Wales
- Victoria
- South Australia
- Australian Capital Territory
Australian Energy Market Operator (AEMO) Charges for Victorian customers (Tariff D only) have changed.
Meter Data Handling Fees for Victorian customers have changed.
What are STTM Charges, Regulated Charges, AEMO Charges and Meter Data Handing Fees?
STTM stands for Short Term Trading Market and AEMO is the Australian Energy Market Operator. Regulated Charges and Meter Data Handling Fees are market participant charges. STTM, Regulated Charges, AEMO Charges and Meter Data Handing Fees are passed through to customers.