The average household customer should see a $62 saving on their annual bill and small businesses should save $144.
The average household customer should see a $62 saving on their annual bill and small businesses should save $144.

Why your power bill is set to be slashed

POWER bills are set to fall in regional Queensland by up to $144 a year.

The Queensland Competition Authority (QCA) said the average household customer should see a $62 saving on their annual bill and small businesses should save $144 thanks to new prices set by the body.

"This expectation has caused our overall estimate of energy costs to drop by approximately 10 per cent," he said. "The notified prices in our final determination should see many residential and small business customers in regional Queensland paying less for their electricity."

The average household customer should see a $62 saving on their annual bill and small businesses should save $144.
The average household customer should see a $62 saving on their annual bill and small businesses should save $144.

It means a typical resident in regional Queensland on the most common residential tariff (Tariff 11) will receive a bill for $1336 instead of $1398 - a 4.4 per cent decrease. A typical small business on the main flat rate tariff (Tariff 20) will receive a bill of $2347 instead of $2491 - a 5.8 per cent fall.

Premier Annastacia Palaszczuk said it was good news for the second consecutive year.

"Bills fell this year and will fall again from 1 July, meaning all up over two years a typical small business will have saved $230 and a typical household, $82," she said. "I know it will be welcome news because every dollar counts when it comes to the cost of living."

Energy Minister Anthony Lynham said it was proof the Government's Affordable Energy Plan and renewable energy policies were putting downward pressure on prices and cutting emissions.

But Opposition Leader Deb Frecklington said the news was small change compared to the $300 in savings tipped under the LNP's policy to expand competition across the state.

"For too long Ergon have (sic) had a monopoly on regional Queensland," she said.

"Southeast residents have more than 20 energy providers to choose from and I believe all Queenslanders deserve cheaper power bills."