Power prices fall as mild summer, renewables reduce generation costs
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Power prices will fall for hundreds of thousands of people from July 1 as energy generation costs continue to fall.
The default market offer for NSW households will fall by $102 a year, $116 in South Australia and $53 in south-east Queensland.
Retail power prices are set to fall following a determination by the Australian Energy Regulator to reduce the default market offer for NSW households by $!02 a year.
Credit:Paul Rovere
The Default Market Offer is a cap on prices retailers can charge customers. While many retailers also have cheaper deals, there are 727,000 electricity customers on a standing offer in NSW, Queensland and South Australia who will benefit from the rate reduction. Victoria is not covered by the determination and sets its own default market offer.