Wholesale Energy Prices Fall by up to 48%

The energy regulator has announced that wholesale energy prices this quarter have fallen by up to 48 per cent compared to the same time last year, but Canstar Blue research shows that consumers haven’t seen anything like that reduction in power bills.

In a statement, the Australian Energy Regulator (AER) explained the drop in wholesale rates is down to ‘softer international gas prices’ and ‘reduced costs for electricity generators’.

AER Chair Clare Savage said that residential and business customers should be the winners as lower wholesale prices should indicate that energy retailers can pass on their savings to bill-payers.

“These figures are good news for consumers. Sustained low wholesale…