But Gavin Dufty, manager of policy and research at the St Vincent de Paul Society and who keeps a close eye on retail energy deals, said there had not been any reduction in retail bills, the bulk of which were the result of rates locked in on July 1.
“Furthermore, retailers tend to reprice their portfolios at the start of each financial year to reflect changes in the underlying cost of poles and wires, which are reset at this time by the AER.” The AEMO quarterly update found wholesale electricity prices averaged about $63/MWh in the September quarter, down 71 per cent from the same period last year.But UNSW senior research associate Dylan McConnell said there was still a big variation in the wholesale price between the states, including $114/MWh in SA, $89/MWh in NSW, $74/MWh in Queensland, and $58/MWh in Victoria.
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