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Renewables set to drive down electricity prices

Australians will be paying slightly less for electricity in less than two years' time, a new report has found.

A general view of a power bill from an energy retailer.

Australian energy companies will face pressure to keep prices down after new laws come into effect. Source: AAP

Most Australians will be paying less for electricity by mid-2021, as new sources of power connect to the national electricity market.

But prices shifts will vary by region, with people living in Western Australia, the Northern Territory and the ACT expected to pay more, according to a new report.

The Australian Energy Market Commission's annual report on electricity prices forecasts the average Australia's electricity bill to be 2.1 per cent lighter in June 2021 than it was in June this year.

That reflects a saving of about $28, as the average bill falls from $1367 to $1338.


1 min read

Published

By Saleem Al-Fahad



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