Victoria: Origin Energy is Dropping Prices by 11%

One of Victoria’s biggest energy providers has announced it will be cutting rates at the start of the new year, in a move that should spark welcome price competition in the state.

Origin Energy has announced that its residential electricity prices will fall by an average of 11 per cent across Victoria from January 1, 2021, following news that the Victorian Default Offer (VDO) is dropping by 10 per cent on the same date.

The VDO is essentially a cap on how much power companies can charge customers on standard contracts, but also acts as a reference point from which all market offers can be compared.

Since the VDO and Origin’s rates are falling closely in line with each other, the percentage…