{"id":256096,"date":"2020-04-02T10:10:49","date_gmt":"2020-04-02T00:10:49","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=256096"},"modified":"2020-07-11T12:17:53","modified_gmt":"2020-07-11T02:17:53","slug":"power-prices-forecast-to-fall-again","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2020\/04\/02\/power-prices-forecast-to-fall-again\/","title":{"rendered":"Power Prices Forecast To Fall Again"},"content":{"rendered":"
\"\"
Electricity prices are forecast to fall another 5 per cent next year if the Queensland Competition Authority’s recommendations on 2020-21 power pricing are accepted<\/figcaption><\/figure>\n
\"\"
Energy Minister Dr Anthony Lynham<\/figcaption><\/figure>\n

April 2, 2020<\/strong><\/p>\n

Power bills for Ergon’s regional Queensland customers are set to drop by $75 a year for a typical household, and $116 a year for a small business, from July 1 this year.<\/p>\n

The forecast price cut is outlined in the annual draft determination released on Wednesday by the Queensland Competition Authority (QCA).<\/p>\n

Energy Minister Dr Anthony Lynham said the expected price drop was a small piece of positive news in the midst of the COVID-19 emergency.<\/p>\n

“The QCA has flagged 2020-21 regional electricity prices are set to fall for the third year in a row and for the fourth time under this government,” Dr Lynham said.<\/p>\n

“We understand that people are even more concerned about the cost of living and getting through this unprecedented coronavirus crisis.<\/p>\n

“Times are tough, but this will be the biggest bill reduction for typical regional households in more than a decade.”<\/p>\n

The forecast price fall complements measures already announced.<\/strong><\/p>\n

Under the State Government\u2019s $4 billion COVID-19 relief package announced last week, all Queensland households will receive a $200 rebate off their electricity bill to assist with their household utility costs for electricity and water.<\/p>\n

As well, households will receive a further two $50 electricity dividend payments to be delivered over the next two years.<\/p>\n

Small businesses will also receive a $500 rebate on their power bill this year.<\/p>\n

The rebate will appear on bills in the coming months, depending on individual billing cycles.<\/p>\n

Dr Lynham said even in this unfamiliar climate, Queenslanders could be assured that power bills were going down.<\/strong><\/p>\n

“If the final QCA decision reflects the draft, regional households will also see a 5.3 per cent drop in their annual power bill in the 2021-2022 financial year and small businesses a 5 per cent drop.”<\/p>\n

Dr Lynham said the QCA noted that price drops were largely due to reduced network and wholesale energy costs.<\/p>\n

“Queenslanders pay the lowest average power prices of any mainland state in the National Electricity Market because we own our electricity assets,” he said.<\/p>\n

The QCA draft determination is available online<\/b><\/a> and submissions can be made until May 13.<\/p>\n

The final determination expected to be released by late June 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Power bills for Ergon’s regional Queensland customers are set to drop by $75 a year for a typical household, and $116 a year for a small business, from July 1 this year.<\/p>\n","protected":false},"author":3,"featured_media":185603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3],"tags":[],"yoast_head":"\nPower Prices Forecast To Fall Again - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"Power bills for Ergon's regional Queensland customers are set to drop by $75 a year for a typical household, and $116 a year for a small business, from July 1 this year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2020\/04\/02\/power-prices-forecast-to-fall-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Power Prices Forecast To Fall Again - 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