Hope for household power bill relief following big fall in wholesale prices

Cheaper power bills could be on the cards as the energy regulator reveals a big fall in wholesale prices. However, it will take months before Australians notice a difference. Wholesale electricity prices on the east coast declined in the last year – down 44 per cent in South Australia and 64 per cent in Tasmania. Wholesale costs are one of the main factors which determine how much energy retailers charge their customers. “We’re pleased with the impact of those electricity bill rebates so far, and obviously, we’ll consider a whole range of ideas between now and the May budget,” Treasurer Jim Chalmers said.