Origin Energy announces small power bill relief for consumers

SOME SA households can expect to save cash on their power bill in the coming year — but don’t crack open the Moet to celebrate, as it’s barely enough to buy a cup of coffee each quarter.

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SOUTH Australian households who have electricity contracts with Origin can expect to save $19 on their annual power bill in the coming year.

Origin has announced it would offer small price reductions — about enough to buy a cup of coffee each quarter — in SA and Queensland while it has absorbed an increase in New South Wales.

But the company has urged all governments to get on with introducing the Turnbull Government’s National Energy Guarantee which it believes would help offer more price relief.

The one per cent saving for SA households and 1.4 per cent reduction for businesses on retail contracts for 2018/19 marks first time since 2015 that there were no increase to its mid-year retail electricity prices.

Origin Executive General Manager Retail Jon Briskin said customers had been feeling the pinch of higher electricity prices so the company was glad to be delivering a “modest turnaround”.

“Our prices reflect a more stable National Electricity Market overall. We’ve also absorbed higher green scheme and network costs in NSW and ACT turning what would have been

another increase into a freeze on our base tariffs in those states,” he said.

Origin is the first retailer to announce its new prices to take effect from 1 July 2018.

The changes apply to its base tariffs and there could be further savings available for customers if they sign up to competitive market offers.

An Australian Energy Market Commission report released in December found the typical household power bill in SA was $1900 a year.

It had forecast prices dropping to $1750 in 2018/19, however, Energy Minister Josh Frydenberg revealed last week that wholesale price cuts would take longer to flow through to people’s hip pockets.

“We believe we can drive electricity prices even lower for Australian households and businesses, if we can agree on a long term energy policy to encourage timely investment in new supply to replace the nation’s ageing power stations,” Mr Briskin said.

“We encourage the industry and governments at all levels to stay the course and continue to progress the National Energy Guarantee.”

Mr Frydenberg said the Government was also looking to finalise the NEG in coming months which would save consumers about $300 a year.

In 2017, Origin had among the lowest retail standing electricity prices and was the only retailer to announce it would freeze base tariffs for its customers in financial hardship.

Origin also introduced a special low-priced offer for concession customers in South Australia and delivered automatic savings for non-discounted and concession customers in Victoria.