The Independent Pricing and Regulatory Tribunal (IPART) has found that increased competition is bringing savings to the electricity bills of NSW households and businesses.
Minister for Industry, Resources and Energy Anthony Roberts, said typical residential customers can save between $284 and $445 per year by shopping around and switching to a new product or retailer, while small business customers could save between $568 and $856.
“The increased competition is delivering customers greater savings, more innovative products and better services from an increasing number of retailers,” Mr Roberts said.
Since the NSW Government removed retail price regulation two years ago, 11 new retailers have entered the market, including six in the last year.
Customers can ensure they are on the best deal for their needs by visiting the Australian Energy Regulator’s (AER) free price comparison website.