Many Victorian and NSW households whose standing offers from their energy provider had lapsed will see a drop in their bills, the energy minister says.
Half a million energy customers in NSW and Victoria will see a drop in their power bills following pressure from the government on companies such as AGL, Origin and Energy Australia.
Households who are longtime customers in NSW whose standing offers have expired will see a 10 to 15 per cent reduction in their bills, saving them about $200 a year, The Age reports.
Residential customers in Victoria will save about $313 annually thanks to reductions of 10-35 per cent.
Energy Minister Angus Taylor said it was outrageous that customers who stayed with a power company were basically being charged a "loyalty tax".
The savings will also benefit 39,000 small businesses.