A number of energy retailers have unveiled the discounts their customers will have access to for 2019, including AGL and Origin Energy.
Red Energy and Lumo Energy
Snowy Hydro’s retailers Red Energy and Lumo Energy will offer all their electricity customers on standing offers an automatic and unconditional discount of 10 per cent commencing January 1, 2019.
Customers in Victoria, South Australia, New South Wales and Queensland will receive energy savings on their electricity bills of between $195 and $270 per year for an average user.
There are no conditions – customers will not have to wait twelve months to be eligible for the discount, nor will they have to be a concession customer, a pensioner or a health care card holder.
AGL will cut electricity and gas prices in Victoria by 1.6 per cent on 1 January 2019 to save households an average of $23 a year, with the average saving for small businesses estimated to be $60 a year.
Gas prices will come down by 0.9 per cent for residential customers and 1.2 per cent for small businesses. This will result in an average saving of $11 for household gas customers and $56 for small business gas customers.
This comes two weeks after AGL introduced a new safety net protection that provides automatic discounts of up to 10 per cent for electricity customers who have been on standing offers for more than a year.
The move follows cuts to AGL electricity prices in SA, Queensland and NSW in July.
Origin Energy will provide concession card holders in New South Wales, ACT, Queensland and South Australia on standing offers or non-discounted plans an automatic 10 per cent discount on electricity usage charges from 1 January 2019.
The 10 per cent discounts in NSW, ACT, Queensland and South Australia will see more than 230,000 concession card holders save an average of $169 off Origin’s already low standing offer rate.
In Victoria, Origin will continue the offer introduced last year, providing substantial discounts of 26 per cent to concession card holders and 17 per cent to customers on standing offers or non-discounted plans.
Customers in Origin’s hardship program, Power On, will continue to receive the tariff freeze that has been in place since mid-2017, saving them on average $695 through guaranteed discounts and lower prices.
The discounts come on top of $80 million (pre-tax) worth of network charges and green scheme costs that Origin absorbed to hold prices flat for Origin electricity customers in NSW earlier this year.