Link wasn't working before but here is an excerpt from a Dec '18...

Link wasn't working before but here is an excerpt from a Dec '18 report

Australian Energy Market Commission 2018 residential electricity price trends report

South east Queensland consumers can expect falling prices over the next two years in response to rising renewable generation capacity. This year consumers who are still on standing offers could save $254 by switching to the lowest competitive market offer. Power prices are estimated to fall over the next two years in south east Queensland according to the Australian Energy Market Commission’s annual report on price trends released today. South east Queensland households are likely to save around $76 (2.8%) or $152 in total on their electricity bills from FY19 to FY21 as wholesale costs continue to fall from increasing renewable generation capacity. This takes into account the $50 annual government rebate paid to customers in FY18 and FY19. Wholesale costs are likely to fall by around $121 by FY21 for the average consumer as more supply comes into the market and demand stays flat. Network costs are estimated to fall by around $9 while state environmental costs are estimated to decrease by $7. South-east Queensland’s representative consumer (the most common type of household based on electricity consumption) may expect to be paying around $76 less than today by July 2020. In South-east Queensland 81% of residential electricity customers are now on market offers. With almost one in five of South-east Queensland consumers on standing offers, those who have not yet shopped around are missing out on current savings of $254 between the lowest market and lowest standing offers for the same type of consumer this year. The most common electricity customer is a two-person household, consuming 5,240 kWh of electricity each year. Actual bills depend on how and when electricity is used in each home. AEMC Chief Executive, Mrs Anne Pearson, said today that understanding what’s driving prices gives the Queensland Government the information it needs to determine if the price changes retailers seek to make from 1 July each year are consistent with changes in the power system’s underlying costs “With wholesale power costs now the main driver of prices being paid by consumers pay for the electricity they use, we are applying a new wholesale cost estimation method that better reflects how retailers manage their risk and wholesale costs. As a result we now have a clearer picture of what consumers can expect in the next few years.”