Energy retail price offers comparison report 2023-24

30 Aug 2024

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Under the Electricity Act 1996 and Gas Act 1997, the Essential Services Commission provides to the South Australian Minister for Energy and Mining an annual Energy Retail Price Offers Comparison Report.

The Energy Retail Price Offers Comparison Report 2023-24 discusses electricity and gas retail offer prices that were generally available to small customers (residential and small business) during the period 30 June 2023 to 30 June 2024.

The key observations of the Report are that:

  • Average residential annual electricity retail Standing Offer and Market Offer prices increased by 20.4 percent and 18.6 percent respectively over the 12 months to 30 June 2024. Average small business annual electricity retail Standing Offer prices and Market Offer prices increased by 27.0 percent and 17.3 percent respectively over the same period.
  • Average residential annual gas retail Standing Offer and Market Offer prices increased by 7.0 percent and 11.1 percent respectively over the 12 months to 30 June 2024. Average small business annual gas retail Standing Offer and Market Offer prices increased by 13.5 percent and 10.7 percent respectively over the same period.
  • Most retailers (but not all) had Market Offers available priced at a discount to its Standing Offer prices in 2023-24. For residential electricity customers, where discounts were available, the discount between a retailer’s Standing Offer and average Market Offer ranged from 2 percent to 12 percent. For residential gas customers, where discounts were available, the discount between a retailer’s Standing Offer and its average Market Offer ranged from 2 percent to 26 percent.
  • There was potential for small customers to reduce their annual energy bills by switching from Standing Offers to Market Offers or, if already on a Market Offer, by considering (and switching) to alternative Market Offers.