Draft determination of regulated retail electricity prices for regional Queensland in 2024-25

7 May 2024

We released our draft determination of regulated retail electricity prices for regional Queensland to apply from 1 July 2024.

QCA Chair Professor Flavio Menezes said this year's draft determination forecasts higher electricity prices for most customers in regional Queensland, though prices for small business customers are forecast to be lower.

"The increase is mainly due to an increase in network and retail costs this year, which has been partly offset by a decrease in energy costs," Professor Menezes said. "For instance, for typical residential customers, the draft prices would result in an annual bill increase of:

• 2.7% (or $52) for the customers on flat-rate tariff 11
• 1.0% (or $23) for customers on the flat-rate tariff 11 and controlled load tariff 33.

For typical small business customers, the draft prices would result in an annual bill decrease of 3.2% (or $79 less) for the customers on the flat-rate tariff 20."

Importantly, these bill impacts are indicative only - an individual customer's actual bill will vary due to the application of government rebates and concessions, in particular the $1000 cost of living rebate recently announced by the Queensland Government, and how much electricity that customer uses.

The draft prices reflect the longstanding Queensland Government's uniform tariff policy. This means that most regional customers will continue to pay less for electricity than it costs to supply them. In addition, this year the draft prices have been capped by the Australian Energy Regulator's draft default market offer for south-east Queensland, which has made small customer notified prices lower than they otherwise would have been.

Professor Menezes noted it is likely that price estimates will change in the final determination because of updated data and feedback from stakeholders.

The final determination is due to be published by 7 June 2024.

Media enquiries: Cole Lawson Communications, 07 3221 2220