Power bill relief may be on the horizon following Australian Energy Regulator report

Power bill relief may be on the horizon for struggling households following the release of new data from the Australian Energy Regulator. Its quarterly report found the cost of producing electricity last year fell between 44 per cent and 64 per cent from record levels seen in 2022, which is now closer to longer-term averages. The decline comes as the global energy crisis subsides and Australia experiences a moderated demand for electricity due to relatively benign weather. As a flow-on effect, it means power bills could finally begin to ease amid the cost-of-living crisis. Australian households and businesses have experienced two consecutive years of price rises of more than 20 per cent.