Following the “unprecedented price rises” in the past year for retail electricity rates across Australia, it looks like we have some “unprecedented price drops” just around the corner!
I’m not sure whether I need to end this post in a /s or not.
Alt-text: Line graph of annual avg wholesale electricity prices in NSW/QLD/SA/TAS/VIC over F.Y. ending 2010-2024. 2022,2023 show an increase of 100~130% compared to 2021; 2024 shows a return to ~2021 prices (except SA).
Data source: https://aemo.com.au/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem
I’ve been on a fixed rate contract for the last 6 months - locked it in just before the price hike. It’s been an absolute life saver as I’m on a very low income at the moment.