00:02After years of rising energy costs, the glass is now half full for Brisbane brewer Stuart
00:08Martin.
00:11The Australian energy regulator has cut the so-called default market offer by up to 7.2
00:16per cent in South East Queensland and 5 per cent in New South Wales.
00:21It follows a separate regulator's decision on Monday to lower benchmark prices in Victoria
00:25by 5 per cent.
00:26In South Australia, prices will rise by 1.4 per cent.
00:30The falls for small business are greater, including up to a 20.9 per cent drop in New
00:36South Wales.
00:37What is driving it is really reductions in the cost of producing electricity.
00:41So we've seen a lot more batteries and solar systems coming to the electricity market over
00:46the last 12 months.
00:48Properly supported by storage and by transmission, renewable energy leads to a more reliable,
00:53more sovereign energy system and one that's in the best interest of Australia's.
00:59At his apartment in Sydney's Bondi, Will Jones has escaped relatively unscathed from the fuel
01:05crisis.
01:06And now the government's free daytime power offer will allow him to take further advantage
01:10of Australia's plentiful solar.
01:12It's great that our power prices are dropping where everybody else is arising because we've
01:17invested in renewables.
01:18The cuts will only directly affect about 1 in 10 customers who are on default offers, but
01:24they send an important signal about prices generally.
01:27Even so, consumer advocates say prices are still historically high and consumers will need
01:33to ensure they get the best deal.
01:35We'll see how that plays out in July when the new prices are set, but that's the time
01:39to go looking for one of the cheapest plans on the market.
01:42Welcome relief for now.
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