Energy bills set to fall in NSW and Queensland under new benchmark pricing

The default market offer for electricity prices has been released, indicating price decreases across much of the country.

From July, the benchmark price in New South Wales is expected to fall by between $66 and $137, depending on the provider.

In Queensland, prices are expected to decrease by around $155, while a small increase is forecast in South Australia.

Nationals Leader Matt Canavan has responded to the announcement.

“Any slight relief in today’s default market offer is not going to make up for the 40 per cent increase in electricity prices we’ve seen,” he said.

“It’s one of the largest increases ever … in a three-year period.”