Standard Offer Rates
For period 1 July 2022 to 30 June 2023
Regulations require us to provide standard offer rates for residential customers who receive electricity supply from us under the terms of the Standard Retail Contract.
Customers who receive our standard offer rates are those customers on our Standard Retail Contract who have not agreed to our market offer – and are:
- those who have moved into a premise and receive supply from us, but have yet to contact us; or
- our existing customers on the Market Retail Contract who ask us to switch them to the Standard Retail Contract.
Our standard offer prices are the same as those available to our customers whose preference is to take wholesale spot energy under our Market Retail Contract.
Default Market Offer
Regulations set a cap on standing offer rates in applicable distribution regions in New South Wales, South Australia and south-east Queensland. In those regions our standing offer rates must not exceed an annual limit determined by the Australian Energy Regulator, called the Default Market Offer.
We meet our default market offer obligations to our customers by applying adjustments to their standard offer rates on their transfer-in anniversary date. These adjustments only apply to customers on our standing offer who are on the network tariffs listed in the table below. The standing offer rates are calculated by reference to the table and the annual adjustment calculation underneath.
(with Controlled Load)
|Endeavour Energy||Usage Rate|
|Essential Energy||Usage Rate|
|SA Power Networks||Usage Rate|
+RSR (controlled load)
All rates are inclusive of GST.
To calculate our annual standard offer price, we calculate a customer’s:
- Total Usage Rate ($), which is the Usage Rate above, times their total annual usage; and
- Total Supply Charge ($), which is the Supply Charge above, times their total number of days usage.
We then take the higher of the Total Usage Rate and the Total Supply Charge, and set it equal to the Unconditional Price.
If the customer’s Unconditional Price is less than the Default Market Offer, then the customer is charged the difference between the two amounts.
If the customer’s Unconditional Price is greater than the Default Market Offer, then the customer is credited the difference between the two figures.
For incomplete years these calculations are pro-rated.
In each case the customer will pay no more or no less than the relevant Default Market Offer.