Average Queensland household pays 27 per cent more for power

Skyrocketing power prices have hit Queenslanders harder than any other state with the average household paying almost 30 per cent more with no relief in sight.

Skyrocketing power prices have hit Queenslanders harder than any other state with the average household paying almost 30 per cent more with no relief in sight, a new report has revealed.

Tasked by the Queensland Government with monitoring South East Queensland’s retail electricity market, the Queensland Competition Authority found that although power prices surged all over the country, Queensland was the highest-priced region by the end of 2021–22.

The report revealed that compared to the June quarter of 2022, average market offer bills in the September quarter increased by 27.0 per cent for residential customers and 26.9 per cent for small business customers.

The record highs were driven by high network demand, generation shortfalls and network constraints.

“The costs associated with operating during this period have begun to pass through to retail pricing in SEQ and are expected to continue for some time,” the report stated.

Consumer advocates have long spruiked the benefits of shopping around for the best deal but that became harder this year with a “significant reduction in offers being presented to consumers”.

Compared with the preceding June quarter, 10 fewer retailers published residential offers and 12 fewer published small business offers.

Household bills have risen by almost 30 per cent. Picture: iStock.

Queensland Consumer Association spokesman Ian Jarratt said rising power prices hurt many families already struggling under cost of living pressures.

“It impacts very greatly depending on household income, power usage, cost per unit of power, eligibility for Queensland Government rebate, and solar production and use,” he said.

“The greatest negative impact is usually on low income households with high consumption and no solar production.”

He recommended that anyone that lives in SEQ jumps online to use the free comparison site Energy Made Easy provided by the federal government.

“It is the only comparison site that allows you to compare all the offers available from all power retailers operating in SEQ,” he said.

“But when comparing retailers and plans check that the conditions etc meet your needs and if you do decide to change retailer make sure that your eligibility for the Qld govt rebate ($372 a year) is also transferred to the new retailer.”

Unfortunately for those that live outside SEQ there is no choice of retailer and fewer plans to choose from.

In an attempt to tackle rising power costs the federal and state Governments last month agreed to cap coal and gas prices and provide rebates for Australians on low and middle incomes.

It’s expected the move will save consumers around $230.

The report also warned consumers to be aware when using commercial comparison sites that promise to find a cheaper electricity plan for customers they may be on the take from energy companies.

“We share the concerns of the Australian Energy Market Commission and the Australian Competition and Consumer Commission over the extent to which commercial comparison websites disclose the range of retailers they represent and the commission arrangements that apply,” the report said.