The tariff rates have increased this year due to wholesale energy cost volatility caused by a range of domestic and international events. Wholesale energy costs are the costs that Retailers incur when purchasing electricity from the National Electricity Market (NEM).
The QCA’s estimation of a 28.7% price increase for a typical residential customer on Tariff 11 is based on an annual usage of 4,468 kWh. Customers with a different usage level or on a different tariff or tariff combination (e.g. Tariff 11 and 33) will have a differing percentage increase.
We understand customers are concerned about the increase in cost of living, and we’ll continue our efforts to keep downward pressure on prices. However, as a publicly owned non-competing retailer, we’re required to charge the prices set by the independent statutory authority, the Queensland Competition Authority. These prices are subsidised by the Queensland Government to ensure we’re on par with other parts of the state. For more information, visit qca.org.au.