The Australian Energy Regulator (AER) has announced a draft default market offer or maximum tariff cap at a time when cost-of-living pressures are at their peak.
AER chair Clare Savage leaves after speaking to media following the release of its draft determination for the 2024—25 Default Market Offer, in Melbourne, Tuesday, March 19, 2024. (AAP Image/Joel Carrett) Source: AAP / JOEL CARRETT/AAPIMAGE
The announcement is in draft form only, to be decided in May after a consultation period, and will be applied to energy bills from July.
It still provides needed relief for many Australians, after electricity price hikes of up to 40 per cent over two years, which added to cost-of-living woes.
Energy Minister Chris Bowen welcomed the announcement but said there was still a lot of work to be done.
