One of Australia’s most expensive states for energy just got a little cheaper

Household energy bills in South Australia have steadily declined in the last financial year according to new data from the state’s independent regulator.

The Essential Services Commission of South Australia (ESCOSA) reported that power bills across the state had dropped by up to $145 for residents and nearly $380 for business owners from 30 June 2020 to 30 June 2021.

These findings follow a market-wide energy price drop for the state, attributed to falling wholesale prices over this time period.

In fact, the average electricity standing offer for residential customers fell by 5.9 per cent, while the average standing offer for small business customers fell by eight per cent, the report shared.

This resulted in homeowners seeing an average bill reduction of $136, while businesses saw as much as $380 off their bills.

ESCOSA energy report for FY20-21

Source: Essential Services Commission of South Australia. Information accurate as of September 2021.

Customers on cheaper market offers found bigger savings, which saw a seven per cent and 7.5 per cent drop on average for residential and small business electricity customers respectively.

This meant that on average, residents on market offers saw an annual power bill reduction of $145, while businesses on these competitive plans cashed in around $312 worth of savings.

The ESCOSA also revealed that the average annual price difference between a standing offer and market offer for homeowners was $216 in June 2021 – reiterating why it’s so important for South Australians to make sure they’re on a competitive deal.

With South Australia known for having some of the highest energy prices in the country, this news will likely have many bill-payers sighing in relief, Canstar Blue’s Energy Editor Jared Mullane said.

“It’s fantastic to see power prices trickling downwards in South Australia, especially as many households and businesses are doing it tough as of late,” he said. “And, with more contenders entering the local market, it means that competition is firing up, giving consumers more choices to help land them a better deal.”

Compare electricity market offers in South Australia

Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin.

Here are the AGL Energy plans on our database for South Australia. These are products from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are the EnergyAustralia plans on our database for South Australia. These are products from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are the Origin Energy plans on our database for South Australia. These are products from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Bigger savings to South Australians on market offers

Retailer’s discounted plans were reported to offer the most savings for both residential and small business customers in South Australia from June 2020 to June 2021. According to the ESCOSA, residential customers who switched from their providers standing offer to their cheapest offer, could have saved anywhere between $20 and $490 a year.

Furthermore, the regulator’s findings discovered that it was the smaller retailers who offered the cheapest deals to households, while the larger providers often offered the most expensive products, both for default and market plans.

For example, Elysian Energy has one of the cheapest electricity plans for South Australians on a single rate tariff, with usage and supply rates much lower than Origin Energy and AGL, at the time of publication.

Mr Mullane explained that this data should motivate customers to compare electricity prices regularly and to check recent bills to ensure they are on the retailer’s cheapest plan.

“The message is pretty simple; if you haven’t switched providers or plans in a while, then chances are you’re missing out on the cheaper deals in market. Whether it’s spending a few minutes comparing plans online or calling your retailer and asking to be put on their best offer, the amount of potential bill savings will ultimately come down to how proactive you are.”

What about natural gas in SA?

Aside from falling electricity prices, standard gas offers have also dropped by 3.7 per cent from June 2020 to June 2021. The ESCOSA uncovered that despite the decrease, natural gas prices on average had actually risen in South Australia over the same period, albeit by only $1 for households on the cheapest offers. Small businesses were slapped with a slightly higher annual increase of about $11 for the cheapest gas plans.

Without sounding like a broken record, the data revealed that gas customers in SA were better off on the more competitive market offers, with yearly savings for households of about $116 on average up for grabs, while small businesses could bank a whopping $636 annually for switching.

Compare gas market offers in South Australia

Here are some of the cheapest gas deals on our database for SA. These estimated annual costs are based on the Australian Gas Network in Adelaide and yearly gas usage of 11,875MJ, but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest estimated cost. These are products from referral partners†. Our database may not cover all deals in your area, and please check retailer websites for up to date information.

Image credit: Taras Vyshnya/Shutterstock.com, Essential Services Commission of South Australia.  

Share this article

[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]
[a-zA-Zbs]