New era of competition will see power bills fall as new provider enters the market

Tasmanian households can now choose their electricity retailer as the state’s power monopoly comes to an end.

Tasmania’s electricity supply monopoly is over after a new company moved into the state.

TASMANIAN households are able to choose their electricity retailer for the first time from today.

Victorian energy company 1st Energy has entered the market providing competition to government-owned Aurora Energy.

The company says its pricing structure will enable customers to save money on their power bills — by up to $150 a year for typical households.

The company’s executive director Adam Landry said he was excited to offer Tasmanians an alternative to the current monopoly provider.

“Until today Tasmanians haven’t had a choice. We believe in competition and we believe that in this instance it will create great outcomes for customers,” he said.

“Ultimately electricity is a bill everybody has to pay and if you can save money you’d be mad not to.

“It’s about competition and choice. People can choose a different option. We think there’s real value and we’re hoping Tasmanians will agree.”

Customers will not need a new power meter and there will be no disruption to their electricity supply if they switch providers.

1st Energy says it will save customers up to $150 a year on their power bills.

Mr Landry said 1st Energy offers monthly billing and a local call centre.

“The process is simple, you can sign up online and it takes minutes to fill out a four-page form or you can switch over via our call centre.”

The Tasmanian market has been open to “full retail contestability” since 2014, although until now no new company had entered the market.

A bid to sell Aurora’s customer base to new retailers failed in 2013.

THE GREAT POWER PRICE FAILURE

LOWEST POSSIBLE POWER PRICES THE TOP PRIORITY

Energy Minister Guy Barnett has pledged a “Tasmania-first” energy policy and says his top priority is to deliver the lowest power prices in the nation for Tasmanians by 2022.

Mr Landry said 1st Energy was keen to make inroads into the market by offering customers a choice of where they purchases their electricity.

“We think Tasmania is a really good opportunity to be first into a new market. You don’t get many opportunities to be the first into a new market,” he said.

“I’d like to think that there’s 10 to 20 per cent of Tasmanian households who would look at it and say they’re likely to save money on their power bills.”