Energy costs in Tasmania have dropped in the last six months and consumers are now paying among the lowest bills in Australia, according to the state’s independent regulator.
Tasmania’s Economic Regulator revealed a decrease of 7.11 per cent to estimated yearly energy bills for households on a general usage and controlled tariff from March to September 2021.
Business customers also experienced a notable price drop on their annual bills, which have reduced by 11 per cent during the same period.
These findings follow a regulated price reduction introduced earlier this year, with the state recording some of the biggest drops when compared to other regions across the country.
The Tassie retail energy market operates a little differently to other deregulated Australian jurisdictions, whereby Tasmanians can choose to have either their electricity supplied under a price-regulated ‘standing offer’ or a ‘market retail offer’ – a plan that’s generally more competitive.
In contrast to the other states, Queenslanders only saw a decrease of 3.56 per cent over the same six-month period, while those in the ACT endured an annual bill increase of 8.28 per cent.
Source: Tasmania Economic Regulator
Time of use and concession customers cashing in on savings
The Economic Regulator also reported big savings to customers on a time of use tariff, a pricing structure that charges households’ different rates for using power depending on the time of day. Bill-payers on Aurora Energy’s Tariff 93 saw the lowest annual bill of $1,651 compared to the representative tariffs in other states.
Energy concession holders also fared well as the report noted a 9.86 per cent bill reduction for Tasmanians on a general usage and controlled load tariff, and nearly a 10 per cent decrease for those on a time of use tariff.
Lowering the cost of power will help many Tassie households right now, especially leading into summer, Canstar Blue’s Energy Editor Jared Mullane said.
“Bill shock is a major concern for many energy consumers in Tasmania so these savings reported by the regulator will likely be a huge boost to household budgets across the island state,” he said. “Tasmania is a tricky market where only a handful of retailers outside of Aurora Energy operate, but that shouldn’t discourage bill-payers from switching, particularly if one provider is offering a better deal.”
These bill savings have been passed on to around 243,000 households and 29,000 small businesses.
Compare Electricity Prices in Tasmania
Here are the published electricity deals from the retailers on our database for Tasmania. These cost estimates are based on a household with an annual electricity usage of 6,775kWh/year for a residential customer on a single rate tariff at a selected postcode in Tasmania, but prices will vary depending on your circumstances. Use our comparison tool for a more specific comparison in your area. This table includes featured products from referral partners. Our database may not cover all deals available in your area, and please check retailer websites for up to date information.
What about natural gas?
Despite falling electricity prices in Tasmania, natural gas prices have remained quite high, with the average estimated annual bill still sitting between $1,398 and $1,407 for residential customers. This was attributed to Tasmania’s smaller retail gas market that’s limited to only two providers – Aurora Energy and Tas Gas.
It’s stated that there are only around 13,275 residential and 1,023 commercial or business gas customers in Tasmania.
Source: Tasmania Economic Regulator