The energy regulator has released its draft determination for what consumers in eastern Australia will pay to keep the lights on in 2024/25.
Many households and businesses in Australia's east could see their power bills fall, while others will see rises below the inflation rate, according to the energy regulator. The Australian Energy Regulator on Tuesday released its draft Default Market Offer , known as DMO 6, for energy prices in 2024/25. The default market offer, which will apply to consumers in NSW, South Australia and parts of Queensland, is a price cap on how much retailers can charge customers on their default plans.
"We know that economic conditions have put pressure on many Australians and the increases in electricity prices over the last two years has made energy less affordable for many households," AER chair Clare Savage said in a statement. "In light of this, the AER has, in this decision, placed increased weight on protecting consumers." Federal Energy Minister Chris Bowen said the draft default market offer, or benchmark price, was "encouraging".
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