Electricity Market in Queensland & Brisbane

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Understand the Electricity Market in Queensland

Post on June 15th, 2015

Do You Want Cheaper Power Bills in Brisbane or Queensland?

Understanding how the electricity industry in QLD works is the first step towards saving money on your power bills. Electricity Wizard can help you to understand your energy bills, your retail choices, and find ways to reduce your energy consumption.

Queensland has the third largest market of electricity users in Australia. There are approximately 1.6 million residential and 200,000 business and commercial customers in the state. There are two electricity distribution networks in Queensland– South East Queensland is serviced by Energex, and Ergon Energy supplies the power to rural and regional Queensland.

Prior to July 2007 Queensland customers had no choice of electricity retailers. This meant that customers were billed directly by Energex for their electricity usage. On 1st July 2007, retail competition was introduced for those living in the Energex distribution area. Energex and Ergon Energy now simply look after the physical services (such as maintaining the powerlines, fault servicing, and power supply). As the meters get read, they are forwarded to your chosen retailer, who will send you a bill every three months.

Queensland Electricity Market Explained

The retailer’s portion of your electricity bill is made up of two components: your peak and off peak usage charges (not all meters have off peak provisions available) charged in c/KWh and “service to property” fees (also known as “supply charge”). These are charged at a cents per day basis.

In Queensland, the government sets the recommended rates that power is to be sold at. The retailers normally charge the same kWh rates.  To make themselves more attractive to customers, they then offer discounts (such as pay discounts for paying on time/early bird discounts), various special offers, and favourable contract terms to attract customers. These discounts and terms can differ greatly from company to company.

Increasing competition in Queensland means that consumers can find some great deals on their electricity. Comparing the cost of electricity in Brisbane and surrounds to find the cheapest electricity retailer will save you hundreds on your yearly power bills.

Choosing a Retailer in Brisbane and Queensland

When retail competition was first introduced, customers were given a “default retailer”. Origin Energy and AGL were the two default retailers available at the time. There are still many consumers who don’t realise that they have a choice when it comes to their energy retailer. And many customers know that they have a choice but don’t realise the potential savings that could be gained by choosing the right supplier.

Almost half of Queensland and Brisbane electricity users are still on the high-cost default rates they were switched to. The AEMC reports that the average South East Queensland residential customer would be saving $500 a year by switching from the standard rate to the best electricity market rate.

The St Vincent de Paul Society report on Queensland Energy Prices in July 2018 found some retailers charging customers a high standing offer even though huge savings were available. Customers that compared electricity retailers in Queensland were able to save money by swapping to a better rate.

Compare high standing offers and lower market rates

Even if you’re happy with your current retailer’s customer service, you might not realise that Electricity Wizard can get you a larger discount with your current supplier just by letting us switch you from their standard rate to a special discount rate.

The truth is, by choosing the wrong retailer or remaining with the default retailer originally set for you, you could be needlessly throwing away hundreds of dollars on your power bills per year. Fortunately, our service lets you find out if there’s a better deal available in your area with one of Queensland’s best energy retailers.

Queensland Residential and Business Energy Customers have many Retailers to Choose from including:

Get a Better Deal on Your Queensland Electricity Bills

Fortunately, at Electricity Wizard, we do all the hard work for you. When you call us, we’ll compare your rates and plans against leading energy suppliers available in your area and help you select the right plan for you to cut down costs and meet any other criteria you may have.

If a transfer of retailers is best, we can organise that for you too. We handle everything so that there is no messy paperwork or extra phone calls for you to make. Best of all, our service is completely free – so what do you have to lose?

If you’re in the South East Queensland region, we can help you save money on your electricity bills by finding the cheapest retailer in your area.

Try us today! Call Electricity Wizard now on 1300 359 779 or fill out your details below to have one of our comparison specialists help you get a better deal on your power

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