How much your power bill could be to 2023

Rebecca Gredley
(Australian Associated Press)

 

HOW YOUR FUTURE ELECTRICITY BILLS MIGHT LOOK

Expect to pay less in:

  • Southeast Queensland – electricity prices are estimated to drop by 14 per cent, or $190, by 2023. That’s an average yearly drop of five per cent
  • South Australia – prices are flagged to decrease by 11 per cent or a little more than $200, equating to a yearly drop of 3.7 per cent
  • Victoria – electricity bills expected to fall by 15 per cent or $170 between now and 2023, an average 5.3 per cent reduction per year
  • Tasmania – prices estimated to fall by four per cent or $70, an annual decrease of 1.2 per cent
  • NSW – less of a drop than other states, but expect to pay about $30 or two per cent less in 2023. The annual average drop is 0.8 per cent

Expect to pay more in:

  • ACT – prices are flagged to increase by $45 or two per cent over the next three years, bucking the trend. That’s an annual rise of 0.7 per cent

What about Western Australia and the Northern Territory?

  • They have their own electricity systems and are not part of the National Electricity Market, which is the area covered by the Australian Energy Market Commission

Source: AEMC residential electricity price trends report 2020

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