Over 100,000 families switch to better electricity deals after milestone agreement with energy retailers
MORE than 100,000 families switched to better electricity deals in the first month after the Turnbull government reached a milestone agreement with energy retailers in late August.
NSW
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MORE than 100,000 families switched to better electricity deals in the first month after the Turnbull government reached a milestone agreement with energy retailers in late August.
That represents about 18 per cent of all households who were on “market offers” after their special rates expired.
The agreement, struck on August 29, came after an increase in tension between energy giants such as AGL, EnergyAustralia and Origin, and the government.
Treasurer Scott Morrison said that “making electricity more affordable for Australian families is central to the government’s approach to energy policy”.
“We promised Australians we would put downward pressure on electricity prices, and we are delivering,” he said.
The new statistics come a day after AGL confirmed it would shut the Liddell coal power plant despite attempts by the government to keep it open past 2022.
The Australian Energy Market Operator will examine AGLs plan on replacing the lost generation capacity.
“The actions of the government in getting agreement from the retailers to offer consumers a better deal is making a real difference to households,” Energy Minister Josh Frydenberg said.
Energy companies must outline steps for customers
The Australian Energy Regulator said it expected this trend to continue “given the magnitude of the fall in such a short period of time”.
From June to October, the average number of weekly visits to the regulator’s electricity price comparison tool was about four times larger than the weekly average for the previous year.