Australia’s power regulator drafts price cuts of up to 7.1% for households as generation costs ease

The regulator released its draft ‘default market offer’ for 2024-25 which sets the maximum amount retailers can charge for power

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Millions of households could see power prices fall in the coming year as falling costs for generation have declined from the “extreme peaks of 2022”, the Australian Energy Regulator says.

The regulator released its draft default market offer for the 2024-25 on Tuesday, setting a guide for electricity prices in New South Wales, South Australia and south-east Queensland. Victoria was expected to reveal its equivalent default prices soon.

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