Regional NSW households are set to save up to $165 a year on their gas prices with the state government confirming the market will be deregulated from July 1 next year.
Residents who previously had only one retailer available will now be able to choose from up to three gas companies.
The Baird government flagged plans to lift controls on gas prices last year on the condition that the level of competitive offers available for regional customers significantly increased.
More than 80 per cent of the state's 1.3 million residential gas customers have already switched away from the regulated price, Minister for Energy Anthony Roberts said.
The government will appoint the Independent Pricing and Regulatory Tribunal (IPART) to monitor and report on the state of competition in the market once prices deregulated, he said.
Deputy Premier Troy Grant has urged people to shop around for the best offer.
"For example, a typical household in Wagga Wagga can save around $135 per year by switching away from the regulated offer to the best available market offer, a typical household in Queanbeyan can save around $165 and a typical household in Orange could save around $95," he said.
