Origin has lowered its electricity prices in Queensland and South Australia in order to deliver modest relief from rising prices from 1 July.
The power service provider did this by absorbing an expected 3% price rise in New South Wales (NSW).
Origin executive general manager retail, Jon Briskin said, “Customers have felt the pinch of higher electricity prices and while this is a modest turnaround, we are glad to be delivering better news this year.”
“Our prices reflect a more stable National Electricity Market overall. We’ve also absorbed higher green scheme and network costs in NSW and Australian Capital Territory (ACT) turning what would have been another increase into a freeze on our base tariffs in those states.”
It will be the first time since 2015 that there will be no increase to its mid-year retail electricity prices. The power company is the first retailer to announce its new prices to take effect from 1 July 2018.
The changes apply to its base tariffs and there could be further savings available for customers if they sign up to competitive market offers.
“We believe we can drive electricity prices even lower for Australian households and businesses, if we can agree on a long term energy policy to encourage timely investment in new supply to replace the nation’s aging power stations.”
“We encourage the industry and governments at all levels to stay the course and continue to progress the National Energy Guarantee,” Briskin said.
In 2017, the company had among the lowest retail standing electricity prices and was the only retailer to announce it would freeze base tariffs for its customers in financial hardship.
Origin also introduced a special low-priced offer for concession customers in South Australia and delivered automatic savings for non-discounted and concession customers in Victoria.