Man with a drill
Electrical post and sky
Summary

We report annually on the performance and competitiveness of the retail gas and electricity markets for retail consumers and small business.

What have we found?

We have found that retail prices increased by around 20% in 2022-23 due to a surge in the wholesale costs of supplying energy. 

These wholesale price increases were due to a combination of high international prices for coal and gas, an unusually cold start to winter and energy generation outages. Wholesale electricity prices have come down significantly since peaking in mid‑2022.

What can you do to reduce your bills?

You can use the Australian Government website Energy Made Easy to shop around for a better energy deal.

The NSW Government offers a range of assistance to households including the Low-Income Household Rebate (Maximum rebate of $285 per year) per year and NSW Gas rebates (Maximum rebate of $110 per year) among others. You should visit the NSW Government’s Savings Finder website or book an appointment with a specialist to check if you are eligible for assistance.

The Australian and NSW governments are providing eligible consumers with assistance through the National Energy Bill Relief initiative. Around 1.6 million households and 300,000 small businesses in NSW are eligible to receive a bill relief payment of $500 (for residents), or $650 (small businesses) over 2023-24.