Energy Bills to Drop by up to 14% for Victorians on Default Offers

Default energy offers in Victoria for residential and small business customers are set to become cheaper from January 2021 thanks to falling wholesale electricity prices.

Victoria’s energy regulator has released a decision stating that the Victorian Default Offer (VDO) will drop by $159 a year (10 per cent) on average for households, and $916 per annum (14 per cent) on average for small businesses.

Essential Services Commission (ESC) pricing director, Marcus Crudden, said this outcome will offer financial relief to approximately 120,000 households and 40,000 small businesses.

“The fall in the default offer is being mainly driven by lower wholesale electricity purchase costs, with lower prices…