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EnergyAustralia announces Variable Market Contract electricity price increases for residential and small business customers in ACT, NSW, QLD and SA

EnergyAustralia today advised that electricity prices for residential households and small businesses in New South Wales, the Australian Capital Territory, South Australia and Queensland1 on Variable Market Contracts will increase following sustained increases in the cost of wholesale electricity.

Key Variable Market Contract electricity price changes by State effective 1 March 2023

Residential

  • Australian Capital Territory – 10.2% or around $221 per year on average.
  • New South Wales – 12.4% or around $276 per year on average.
  • Queensland – 14.1% or around $301 per year on average.
  • South Australia – 10.9% or around $252 per year on average.

Small-to-Medium Size Business

  • Australian Capital Territory – 9.2% or around $604 per year on average.
  • New South Wales – 9.7% or around $552 per year on average.
  • Queensland – 12.5% or around $641 per year on average.
  • South Australia – 9.7% or around $516 per year on average.  

Note: Average Dollar increases include GST.

EnergyAustralia Chief Customer Officer, Mark Brownfield, said: "We know these price rises won't be welcomed by households already experiencing cost of living pressures.  A perfect storm of issues during 2022 meant it is costing us more both to generate and purchase wholesale electricity for our customers. 

“These issues include the sustained impact of the war in Ukraine on energy prices, extreme weather conditions and coal supply issues, along with some increases in market administration costs.

“At the same time, we are continuing to work hard to introduce as much fuel and generation supply to the system as possible.  We know increased supply of electricity helps avoid high wholesale costs, particularly at times of peak demand, and in turn this reduces pressure on retail electricity prices.

“We acknowledge recent government intervention aimed at lowering the wholesale price of coal and gas over the medium term.  We are working with governments and with coal and gas producers to implement these interventions to help minimise future impacts on retail prices for customers.

“For customers who might be struggling to pay their energy bill, we want them to please get in touch with us as early as possible.  There are things we can do to help, such as payment plans, payment extensions, our staying-connected guarantee and access to cashflow assistance for small businesses. There may also be opportunities for more cost-effective energy plans with EnergyAustralia,” Mr Brownfield said.

EnergyAustralia customers experiencing financial difficulty are encouraged to contact us for support. Our dedicated residential EnergyAssist support team can be reached at 133 466, while our small business customers can call the Rapid Business Assist team on 1800 146 749.

1In Victoria, Flexible Market Contract electricity prices are not changing at this time.