The Queensland Government is demanding energy retailers pass on the full savings from the Australian Energy Regulator’s final Default Market Offer (DMO) to every household and business in South East Queensland.

Today’s final DMO has confirmed power costs will fall between 7.2 and 10.7 per cent for households and between 10.4 and 14 per cent for small businesses next financial year, with the Queensland Government’s Energy Roadmap contributing to the power price relief – the largest bill reductions in over a decade. 

South East Queenslanders are in line for the largest drop in prices – if the energy retailers pass on the savings in full - outstripping both South Australia and New South Wales which are also subject the DMO. 

It’s just one of the ways the Queensland Government is delivering affordable, reliable and sustainable power for Queenslanders. 

The Queensland Government is continuing to advocate for similar bill reductions in regional Queensland, with the final pricing decision due in coming weeks. 

The AER attributed the price drop to easing costs across the energy supply chain, including lower retail operating costs, and wholesale energy costs – reflecting Queensland’s diversified mix of existing coal and gas generation assets along with new generation and storage. 

Premier David Crisafulli said the Government’s Energy Roadmap was starting to ease power price pressures and urged energy retailers to pass on the lower costs to Queenslanders. 

“We made a commitment to Queenslanders we’d do everything we could to put downward pressure on power prices and this is proof our Energy Roadmap is working,” Premier Crisafulli said.

“This is proof we have the State heading in the right direction.

“We are now asking the energy retailers to ensure every household and business receive these savings in their power bills.” 

Treasurer David Janetzki said the Queensland Government’s Energy Roadmap was putting downward pressure on power prices by boosting supply and storage, strengthening reliability, and driving a more efficient energy system. 

“In a world of global uncertainty and ongoing volatility in energy markets, this result shows Queensland is well placed to deliver more affordable power through the Queensland Government’s Energy Roadmap,” Treasurer Janetzki said. 

“With our state-owned coal units running hard, we have some of the lowest power prices in the NEM while also exporting energy to keep the lights on in southern states. 

“I’ve again today written to the CEOs of our energy providers, calling on them to ensure savings are reflected in Queenslander’s power bills. 

“The Queensland Government is doing its bit to put downward pressure on power bills, and it is now up to retailers to ensure savings are passed to households and businesses. There is no excuse.” 

“By properly maintaining our generation assets through our Electricity Maintenance Guarantee and boosting private sector investment in new generation and storage, we’re putting downward pressure on power prices, just as we said we would. 

“Our Roadmap backs a pragmatic approach with coal for longer, more gas and private sector investment into renewables underpinning an affordable and reliable energy system. 

“The Roadmap saves the average Queensland household $1035 a year.” 

The Default Market Offer sets the maximum price retailers can charge households and small businesses on standing offer contracts and applies to customers who haven’t actively chosen an electricity plan.